People's Energy Cooperative is a Touchstone Energy® cooperative with nearly 23,000 services in southeast Minnesota. We have an excellent opportunity for a full-time Chief Financial Officer in our Oronoco, MN office.
As the Chief Financial Officer:
Directs all general accounting activities consistent with the Uniform System of Accounts of the Rural Utility System (RUS) and generally accepted accounting principles to: 1) ensure accurate and timely reporting of operating costs and revenues; 2) ensure the financial condition achieves the goals of the Cooperative; and 3) provide information to management needed for making management decisions and evaluating progress on developments compared to plans and budgets.
Directs and supervises all general ledger activity to ensure a reliable accounting function that meets the requirements of the RUS system of accounting and meets the needs of the Cooperative by utilizing activity-based accounting.
Directs the procedures for authorization of expenditures and payment of invoices of all purchases, ensuring that creditors are paid in a timely fashion.
Accounts for and coordinates all capital credit allocations and retirements within limits of approved policies.
Directs the central purchasing and material inventory functions of the Cooperative within approved policies, guidelines, specifications and regulations to obtain maximum efficiency in the procurement and distribution of supplies, materials, and equipment and to ensure that purchases meet acceptable specifications, overall costs, quality, and deliverability.
Directs the maintenance of a system of cost accounting for all electrical plant additions and retirements that enables development of standard costs and estimated costs of construction.
Develops short- and long-term financial plans and recommends strategies that achieve stated financial goals. These plans should also include cash management strategies designed to ensure adequate cash flows and working capital.
Develops and manages an approved financial plan that reflects capital requirements and the projected financial performance of the Cooperative for a period of 10 years into the future.
Directs the investment of available funds consistent with mortgage requirements, policies and guidelines to maximize interest earnings.
Secures insurance coverages, including worker’s compensation, general liability, DOM, umbrella and cyber-security, to ensure the Cooperative is adequately protected against loss.
Functions as internal auditor for the Cooperative to ensure that internal controls are adequately established and maintained.
Develops, plans, and recommends the appropriate capital structure for the Cooperative relative to the proper mix of member equity and debt to attain or maintain optimal debt/equity levels.
Responsible for procurement of short- and long-term debt from various lenders in order to meet the Cooperative’s needs for debt financing on a timely and cost- effective basis.
Develops and maintains relationships with financial institutions to enable the Cooperative to procure the necessary funding for growth and expansion.
Directs, coordinates, and supervises the operation of integrated information systems that are responsive to management needs ensuring that accounting systems, IT systems, and other data systems are developed within a compatible framework.
Secures certification of financial results serving as the principal contact with an external audit firm, makes recommendations as to the selection and evaluation of the audit firms, and sees that they are provided close cooperation and assistance in the discharge of their responsibilities to ensure internal controls are adequately maintained.
Directs the development of budgeting systems for the Cooperative and all subsidiaries and related entities to include both operating and capital budgets to ensure the long-term success of these entities. This includes the coordination of the development of the annual work plan and budget to project the financial impact of the proposed work plans.
Devotes and directs adequate resources to financial planning and analysis activities relating to potential joint ventures, acquisitions, mergers, and/or divestitures, as directed to ensure the best interests of the Cooperative are served.
Develops and recommends contracts, agreements, and required legal documents relating to this position’s responsibilities for consideration by the President/CEO, legal counsel and/or the Board of Directors, as appropriate.
Directs, with appropriate delegation, the warehouse, fleet, and facilities maintenance functions.
Coordinates cost of service and rate studies to ensure rates meet financial goals established by the Board and collaborates with the Director of Member Services regarding rate appropriateness.
Keeps President/CEO informed of all matters pertaining to employee relations, safety, and service issues within areas of responsibility of this position.
Strong knowledge for financial reporting, budgeting, investments, audit, tax, strategic planning, forecasting, internal controls, risk management, and data analytics required. Successful candidate must have strong leadership skills, proven business acumen and strong people management skills. Also must have excellent verbal and written communication skills, including presentation skills. Strong computer skills in all Microsoft Office products; with superior Excel skills required.
A Bachelor's degree from an accredited college or university with a major in business administration, finance, accounting, or related field is required. Advanced degrees in these fields will be considered a plus. Additional training pursuant to Public Accountant Certification will be considered as highly desirable.
A minimum of six years' experience in a progressively responsible financial and accounting position is required, preferably with a consumer-owned or publicly-held utility system. A minimum of three years' experience in managing the work of others, and maintaining effective relationships, both within and outside the organization, is required.
People's Energy Cooperative offers a competitive wage and benefit package. For more information and to submit application go to People's Energy Cooperative website www.peoplesenergy.coop and click on "Cooperative Information" and "Careers" to submit the application online or download the pdf application.
Application deadline: September 23, 2019
About People's Energy Cooperative
People's Energy Cooperative was incorporated on January 1, 1936, and currently provides electric service to nearly 19,000 members in six area counties including Dodge, Fillmore, Mower, Olmsted, Wabasha and Winona. We distribute electric energy from 29 substations through 2,847 miles of overhead and underground distribution lines and 119 miles of transmission lines. People's Energy Cooperative is an equal opportunity employer.