LA PLATA ELECTRIC ASSOCIATION, INC. CHIEF FINANCIAL OFFICER
LPEA seeks a CFO to replace an incumbent who has been with the cooperative since 2008. The CFO reports to the CEO and is responsible to direct and control the budgeting, accounting, financial forecasting, financial planning, finance, billing, and risk management functions of the utility. He or she will manage a ten-person department that includes a Controller, Assistant Controller, and Billing Supervisor.
Plan, develop, organize, implement, direct and evaluate the cooperative's fiscal function and performance.
Participate in the development of the cooperative’s plans and programs as a strategic partner.
Evaluate and advise on the impact of long-range planning, introduction of new programs/strategies and regulatory action.
Develop and work with the finance team to ensure credibility for the group by providing timely and accurate analysis of budgets, financial reports and financial trends in order to assist the CEO, the Board and other senior executives in performing their responsibilities.
Enhance and/or develop, implement and enforce policies and procedures of the cooperative by way of systems that will improve the overall operation and effectiveness of the cooperative.
With integrity and trust, establish credibility throughout the cooperative, the Board, and external stakeholders as effective developer of solutions to business challenges.
Provide technical financial advice and knowledge to others within the financial discipline.
Continual improvement of the budgeting process through education of department managers on financial issues impacting department budgets.
Provide strategic financial input, identify potential risk and opportunities, and lead on decision making issues affecting the cooperative; i.e.., evaluation of potential business opportunities, rate impact, and or cooperative self-insurance and investments, etc.
Develop a reliable cash flow projection process and reporting mechanism that includes minimum cash threshold to meet operating needs.
Be an advisor from the financial perspective on any contracts into which the cooperative may enter.
Evaluate the finance division structure and team plan for continual improvement of the efficiency and effectiveness of the group as well as provide individuals with professional and personal growth with emphasis on opportunities (where possible) of individuals.
Represent the cooperative as appropriate at affiliate meetings, national, regional and state meetings, and within the cooperative service territory as appropriate.
THE SUCCESSFUL CANDIDATE
Qualified candidates must exhibit exceptional leadership skills, unquestionable ethics, and be strategic thinkers. He or she must also be able to adapt to, navigate, and lead industry and organizational change.
The successful candidate will demonstrate progressively responsible experience that includes serving successfully in a senior management role, ideally in an electric utility setting.
This position requires an individual who has excellent skills in accounting, budgeting, financial modeling, and business case and risk analyses. The successful candidate must be able to identify all relevant parameters and ensure these are correctly incorporated into annual budgets, financial forecasting models, and strategy development.
The CFO must have finely honed skills in collaborating closely with all internal departments and external stakeholders. Excellent communication skills are necessary to provide both written analyses and lead discussions explaining reasons for assumptions used in the forecasts and recommendations. In addition, the CFO must be able to prepare, present, and explain complex financial concepts to financial institutions, the Board of Directors, customers, and senior staff and employees.
This position requires the ability to manage multiple projects and react quickly to changes in financial conditions and changes required by industry developments.
Fully qualified candidates will possess a Bachelor’s Degree and CPA certification along with 10 to 15 years of related experience and/or training; or an equivalent combination of education and experience. A Master’s Degree in Business Administration is desirable.
LPEA is governed by a 12-member Board of Directors that is elected by the membership and serve rotating three-year terms.
The cooperative generates approximately $112 million in annual revenue, has equity of 48%, a debt-service-coverage ratio of 1.8, and sells around 1 billion KWh per year. Of the 44,000 total meters served, approximately one-third are residential, one-third are commercial, and one-third are industrial with one large customer accounting for approximately 20% of LPEA’s load.
LPEA has a successful and widely used time-of-use program to help LPEA reduce its peak demand expense which in turn results in lower utility bills for participating members. LPEA’s time-of-use program is enhanced by leveraging a fully deployed AMI system to control demand response loads. 3.6% of LPEA’s 33,000 members also reduce their power bills through retail net metering of over 8,200 kW of solar generation.
In addition to electric service, LPEA is part-owner of a communications/fiber subsidiary called FastTrack that provides Internet service to businesses and leases dark fiber to other companies who provide residential service.
COMPENSATION, BENEFITS AND RELOCATION The total compensation and relocation package is competitive and will be dependent upon qualifications and experience. In addition to salary, LPEA offers a full complement of benefits.
TO APPLY Interested candidates must submit a resume and cover letter, no later than November 6, 2019 to:
Joyce Gallo Mycoff Fry Partners LLC PO Box 1310 Conifer, CO 80443 (800) 525-9082 firstname.lastname@example.org
Employer will assist with relocation costs.
About MYCOFF FRY PARTNERS LLC
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