Chief Financial Officer

Summary

The Chief Financial Officer (CFO) will oversee the accounting, financial reporting, budgeting, and forecasting and other activities of the department.

The duties include but are not limited to the following:

• Establishes internal controls and guidelines for accounting transactions and budget preparation.
• Produces monthly financial statements, including the balance sheet, income statement, and other financial reports, including key metrics, ratios, financial results, and variance reporting.
• Oversees the production of periodic financial reports; ensures reported results comply with generally accepted accounting principles (GAAP) or financial reporting standards.
• Oversees the activities of the Cooperative’s accounting and administrative department, including maintenance of the general ledger, subsidiary ledgers, and related records in accordance with GAAP.
• Manages working capital resources, including cash investments and short-term lines of credit.
• Initiates or directs the research, creation, review, and revision of operational and financial policies and procedures and recommends adoption to the General Manager.
• Coordinates the external annual audit by overseeing assignments and work paper preparation; performs detailed review of work prepared by others and serves as the primary liaison with the auditors.
• Ensures compliance with local, state, and federal government requirements.
• Formulates the annual operating budget, monitors discrepancies, and provides feedback on results.
• Establishes or recommends to the General Manager and Board major financial and economic objectives for the Cooperative and implements these objectives through activities such as providing information to third-party consultants for rate studies and cost of service analysis, preparing long-term financial forecasts, preparing loan applications for Board approval, and maintaining effective cash management practices.
• Collaborates with Cooperative leadership, advising and providing solutions for their financial information and analytical needs.
• Leads and manages internal initiatives of the Finance department.
• Directs studies and reviews costs, including depreciation studies, cost of service studies, and tariff rate recommendations; responsible for the tariff rate adjustment process.
• Manages coordination of wage and benefit survey participation and pay rate adjustments.
• Implements annual contract wage revisions for two labor agreements incorporating annual CPI-U data with health and welfare and pension contribution revisions.
• Educates payroll staff on union contract changes once agreements are ratified; assists accounting staff (specifically payroll) with language interpretations.
• Directly supervises the Controller, Payroll and Benefits Accountant, Purchasing & Warehouse Manager, and Member Service & Billing Supervisor, and other department staff as assigned; provides leadership, direction, coaching, and accountability for performance and results.
• Plans, assigns, reviews, and evaluates work for direct reports; establishes priorities, timelines, and service levels for month-end close, payroll processing, purchasing/inventory control, and billing/collections activities.
• Approves and oversees delegation of duties and cross-training to ensure adequate coverage for critical functions (month-end close, payroll/benefits, accounts payable, purchasing/receiving, inventory counts and reconciliations, and member billing/cash balancing).
• Ensures direct reports maintain accurate records, comply with internal controls, and follow Cooperative policies and applicable laws/regulations (GAAP, payroll tax and labor requirements, benefits regulations, and purchasing/contract requirements).
• Oversees the revenue cycle through supervision of billing, collections, cash balancing, delinquent account processes, and customer dispute resolution to safeguard Cooperative revenue and maintain strong member service.
• Oversees purchasing and warehouse operations, including approval of vendor accounts/lines of credit, purchasing controls, and review of monthly inventory and purchasing reconciliations; ensures annual physical inventory…