We have an exciting opportunity for a visionary financial executive to join our team as Chief Financial Officer (CFO). Reporting to the General Manager and Chief Executive Officer (GM/CEO), the CFO will enhance the utility's affordability and investment strategies and is an important advisor and partner to the CEO and a member of the agency's executive leadership team. The CFO will work to advance SPU's mission and the interests of the utility's rate payers. The CFO is tasked with making sure that SPU secures and maintains cost-effective financing for capital projects, oversees the development and maintenance of strong, transparent financial reporting systems and controls, ensures the development and adherence to strong, balanced financial policies, and provides financial data and analyses that allow for informed and responsible decision-making and oversight. Overseeing an annual operating budget of $1.2 billion dollars (with revenues of approximately $874 million) in operating across four funds: water, drainage & wastewater, solid waste, and general fund, the CFO will work with department leadership to leverage the impact of SPU's financial investments, control costs, and ensure sound fiduciary responsibility of financial resources.
The CFO is the utility's lead financial representative and interacts regularly with Bond Rating Agencies, City Budget Office, City Council and the Mayor's Office. In addition, this position is also responsible for the accuracy, integrity, and quality of SPU's official annual financial statements for the Water, Drainage & Wastewater, and Solid Waste lines of business.
Ensure the effectiveness of financial and accounting
Oversee the development of the annual budget in accordance with city procedures and departmental operating requirements, including revenue, expense and capital spending budgets.
Provide oversight of the delivery of timely and relevant financial reporting to the CEO, CAO, Deputy Directors and leaders of the department.
Direct performance for all three Enterprise Funds and related bond issuances.
Maintain open and transparent relationships with rating agencies, representing SPU at presentations and other bond issuance and ratings related activities.
Ensure that SPU develops and maintains an optimal capital structure, minimizing its cost of capital while maintaining financial flexibility.
Coordinate SPU's financial responses to the City Budget Office (CBO), City Mayor, rating and other as required.
Provide executive oversight of SPU financial operations and other assigned functions, ensuring operational excellence.
Manage the development of rates, in alignment with utility SPU strategic business planning processes that include customer input, and city processes.
Participate as a member of SPU's executive collaborating on the utility's planning, policies, procedures, and culture building.
Work to build a culture of affordability and accountability in budget development and rate setting where every employee seeks to control costs and maximize investment value.
Work with SPU leadership to foster exploration of viable opportunities to leverage SPU financial capital through public private partnerships, grant funding and other alternative financing and project delivery approaches.
Manage and empower a team that includes: Accounting, Contracts & Procurement, Real Property, and Finance.
The ideal candidate is ethical, knowledgeable, nimble, financially creative, and shares our interest in advancing equity, inclusivity, transparency, accountability, affordability and sustainability in all we do. The ideal candidate cultivates a connected, coherent, empowered, capable and resilient staff and is focused upon the interests of the utility's customers and community.
Candidates background should show progressively responsible professional experience in financial management, financial analysis, accounting, auditing, budgeting, forecasting, treasury and investment management, debt issuance, rate making and management in a municipal, local, or other governmental entity and a track record of supervisory/management experience over a related division or organization
Education Bachelor's degree from an accredited college or university in accounting, finance, business administration, CPA or a closely related field.
Please note this job advertisement is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.
Additional Salary Information: Compensation and Benefits:
The City of Seattle provides a generous benefits package to its employees which includes:
• Health, dental, vision, long term disability and group term life insurance
• Defined benefit retirement plan
•10 paid City holidays and 2 personal holidays
•12 to 30 days of vacation per year, based on length of City of Seattle service
•4 days of executive leave per year
•12 days of sick leave per year
•Paid family leave care, up to 4 weeks
•Paid parental leave, up to 12 weeks
•Optional 457 deferred compensation plan
•Flexible benefit plan contributions by employee on a pre-tax basis
•Employee Assistance Program
About City of Seattle
Seattle Public Utilities (SPU) provides essential utility services to a rapidly growing and increasingly complex city and region. With more people living in Seattle than ever before we face many new challenges and opportunities. This is an exciting time for us as we balance environmental stewardship, service excellence and compliance with affordability. We are exploring innovative approaches to meet increased demand.
SPU is a Community Centered Utility working to make Seattle the best place to live for everyone. We deliver high quality, vital services, across four major lines of business: providing water, solid waste, drainage and wastewater services for Seattle residents and businesses. In addition SPU provides drinking water for 1.4 million regional customers in Seattle and other municipalities. Our customers depend on us to deliver high quality, reliable, and cost-conscious utility services and to achieve the highest benefits possible for every investment we make. With these goals in mind, we focus on the following in all we do:
• Achieve Excellence in Core Service Delivery
• Increase Affordability and Accountability
• Improve Investment Value
• Enhance Public Health... and Environment
• Ensure Equity and Inclusion
• Expand our Impact through Strong Partnerships
More information about our City Values can be found here.