Serves as an executive leader and member of Senior Staff team. Responsible for the overall financial management and accounting operations of the organization. As the leader of the finance department, provides strategic insight to guide the financial direction of the organization, including budgeting, forcasting and mitigating financial risk for sustainable growth. Performs other duties as required by the CEO
Bachelor’s degree in accounting, finance, business administration, or similar discipline required. A Master’s degree in an applicable discipline is desired.
Minimum of ten (10) years in accounting/financing, preferably within the electrical utility industry, required. Minimum of 5 years managerial experience required. Senior Management experience preferred. Electric cooperative experience preferred. CPA preferred.
III. Mental and Physical Requirements
The mental and physical requirements for this position include, but are not limited to the following:
Must have the ability to effectively interact with other Cooperative personnel, business and industry representatives, Cooperative members, the general public and related groups and individuals.
Must be able to effectively supervise the activities of Cooperative personnel and communicate assignments and other necessary information to employees.
Must have the mental capacity to rationally develop and implement plans, programs, strategies, and criteria for Cooperative products and services.
Must have the aptitude to logically and objectively evaluate obstructions and impediments to plans and programs, make rational independent decisions, and develop reasonable resolutions to problems.
Must be able to follow verbal and written instructions.
Must possess the ability to clearly and concisely communicate in providing and acquiring information to/from the Chief Executive Officer, employees, members, the general public, and industries in the Cooperative service area.
Must be able to utilize relevant technologies to access, input and retrieve information .
Must have the ability to perform mathematical computations necessary for statistical analyses, evaluation and analysis of accounting records and other data, and perform other related activities.
Must maintain competency in relevant areas of expertise such as General Accepted Accounting Principles (GAAP), accounting standards and procedures, computer operational requirements, RUS/CFC reporting requirements, and related instructions.
Four County Electric Membership Corporation will recruit, employ, and promote employees in all job classifications without regard to race, color, sex (including gender identity, sexual orientation and pregnancy), age (40 or older), religion, national origin, disability (including physical or mental impairment), genetic information, or veteran status.
This position is exempt from the overtime requirements of the Fair Labor Standards Act as amended.
Reports to: Chief Executive Officer
Supervises: General Accounting Supervisor (2 direct reports)
Essential duties and Responsibilities
Corporate Stragegic Planning and leadership 25%
Serves as a member of Senior Leadership team.
Develops strategies to meet objectives by identifying and researching accounting methods to ensure compliance to GAAP and Uniform System of Accounting and contributing information, analysis and recommendations to Co-op Leadership.
Provides executive leadership in the continuous evaluation of short and long term strategic financial objectives and offers recommendations to enhance financial performance and business opportunities.
Plan , develop organize , implement, direct and evaluate the organizations Finance and Accounting department’s function and performance
Assist in formulating the company's future direction and supporting tactical initiatives
Monitor and direct the implementation of strategic business plans
Develop financial and tax strategies
Develop performance measures and monitoring systems that support the company's strategic direction
Legal and Regulatory Compliance and functionality 25%
Assist CPAs in expediting year-end audits and making adjusting and correcting entries
Establishes generally accepted accounting methods and procedures in conformity with RUS and other governmental regulations.
Establishes uniform accounting methods and procedures to account for cost of labor, material and other operating expenses utilized in general and electric plant operations, as prescribed in uniform plant unit accounting
Filing information by file clerk according to RUS and IRS specifications.
Defines schedules for reports submitted to RUS, IRS, and other federal and state agencies. Peruses report for accuracy and entirety and awareness of changes affecting tax and reporting liability. Schedules work completion deadlines for all accounting department personnel.
Establishes and maintains appropriate records of RUS and CFC long-range loans, identifying amount of loans and funds available for repayment.Establish and maintain appropriate records of RUS and CFC loans funds
Develops methods, procedures and audit practices that assure the accountability of electric plant expenditures to retirement, construction and record units.
Develops measurements to gauge the effectiveness of internal control in the accounting procedures.
Assists public auditors in expediting year-end audits by compiling and analyzing pertinent data. Cooperates and collaborates with auditors in making year-end adjusting and correcting entries
Establishes most efficient methods and procedures for payroll, cash receipts, individual accounts and capital credit record retention
Collaborates with department heads in establishing procedures for improved work procedures and reporting systems and monitors departmental activities to ensure compliance
Closely supervises and coordinates the activities of the General Accounting Supervisor to insure strict adherence to generally accepted accounting principles, procedures and methods.
Establish methods and procedures for record retention according to RUS and IRS specifications
Operational Finance and Accounting 25%
Prepares information for yearly corporate insurance quotes.
To maintain custody and effective protection of the Cooperative's assets and financial records, to account for all funds and securities, and to assure effective communication and understanding of accounting policies and procedures in a manner that will facilitate the economical operations of the Cooperative.
To provide the CEO, departments and local offices, and the Board of Directors with complete and accurate financial reports, operating costs, and statistics that will allow them to properly predict trends, determine planning needs, diagnose results, and make effective policy decisions
Prepares the finance and accounting department’s annual work plans in collaboration with general staff and recommends to CEO.
Conducts and prepares necessary studies and financial forecast required for long- and short-range work plans. Identifies and forecast long-range financial requirements and the immediate strategy to meet future needs.
Prescribes, in consultation with general staff, the system of accounts, reports, statistics and graphs necessary for financial, accounting and consumer accounting/collecting operations
Develops and maintains an efficient cash flow program which assures sufficient operating funds and optimizes use of excess capital for short- and long-term investments, and plant expansion
Establishes procedures for maximum utilization of available capital in short-range plans, requesting RUS and CFC funds when necessary and constantly monitoring cash reserves and needs. Invests any portions of cash reserves that are not required for operating expenses
Manages Long-Term Debt portfolio to achieve most efficient and effective use at lowest cost to Cooperative.
Develops the criteria and format for preparation of budgets.
Develops and prepares operating, expense, and capital budgets for the entire Cooperative and accounting department.
Advises and counsels with department and local offices with respect to preparation of their budgets.
Reviews consolidated budgets and recommends the overall income and expense and capital budgets to the CEO.
Reviews actual Departmental Budgets monthly during fiscal year to ensure they are in line with budgets.
Prepares Budget and statistical data for current year Operating Budget.
Assists department heads with costs data from preceding years to project and plan capital and operating budgets of departments’ short-range plans and consolidates departmental budgets into the Cooperative’s operational and plant budgets.
Vice President of Engineering and Vice President of Operations - To provide and obtain information regarding the preparation of the Cooperative’s two-year and long-range construction work plan; to cooperate with in regards to RUS reporting relating specifically to the advance of loan funds; and to provide assistance in budgeting. To obtain information of the electric system work orders and related reports; and to provide cost reports. To provide assistance in budgeting.
Vice President of Customer Services - To provide advice and assistance as to budgets, financial and statistical reports, office services, printing and mailing services; and to coordinate data processing reporting and control service.
Electric System Engineer - To provide cost operational, KWH consumption data; to provide assistance in budgeting.
RUS - To provide financial reports within required guidelines; to maintain and furnish necessary reports, forms and documents relating to the advance of loan funds; to cooperate with and assist the General Field Representative and the Field Accountant as necessary.
CFC - To maintain good relations with the CFC Area Representative; to provide CFC with financial reports within required guidelines; and to maintain and furnish necessary reports, forms and documents relating to the advance of loan funds.
Independent CPA Firm - To assist in the preparation for the annual audit; to communicate with in order to stay abreast of current accounting and financial events.
Inter-Industry and Professional Associations - To maintain representation and create opportunities for mutual exchange of information, new development, services, and benefits.
Other Electric Membership Corporations - To share experiences and confer on mutual problems.
Educational Institutes - To participate in special courses and meetings to improve technical skills and to obtain professional advice and service.
State and Federal Agencies - To obtain and supply required financial statistics from time to time.
8. Public and Community - To represent the Cooperative as necessary in public and community functions and projects.
Four County Electric Membership Corporation is located in southeast North Carolina. It proudly serves affordable, reliable electricity to 33,000 members in Bladen, Duplin, Pender and Sampson counties as well as a small number of services in Columbus and Onslow counties. It's service territory is only a short drive to the beautiful North Carolina beaches, such as Topsail, Surf City, and Wrightsville.