Chief Financial Officer

Job Description

Title: Chief Financial Officer Supervises: Department Staff Division: Administration

DOT Safety Sensitive: No

Reports to: General Manager

FLSA Status: Exempt, Salaried

Union status: Non-Union

Date: April 18, 2023

Status: Full-Time Permanent

Work Schedule: Monday through Friday 8 a.m. to 5 p.m.

Summary

• The Chief Financial Officer (CFO) oversees the financial activities of the Cooperative, develops financial strategies, executes financial reporting, and supervises staff members to fulfill the basic directives of the Cooperative as well as the objective and purposes which have been assigned to the accounting, customer service/billing, warehousing, and purchasing departments. The CFO manages the general accounting, fixed assets accounting, financial planning and reporting, banking, investing, financing/debt, work orders, licensing, corporate insurance and claims, record retention program, and taxes of the Cooperative. The CFO develops budgets, financial forecasts, loan applications, manages financial audits, and monitors the overall financial condition of the Cooperative. Essential Duties and Responsibilities: The duties include but are not limited to the following:
• Using a diagnostic and analytic approach, work with colleagues and consultants to evaluate, propose, and implement policy and procedures related to financial areas aligned with the Cooperative’s goals as set by the Board of Directors and General Manager.
• Manage working capital resources, including cash investments and short-term lines of credit.
• Direct studies and review costs, including depreciation studies, cost of service studies, and tariff rate recommendations. Responsible for the tariff rate adjustment process.
• Manage coordination of wage and benefit survey participation and pay rate adjustments.
• Act as liaison with the external auditor and manage auditing process.
• Direct or prepare and maintain records, including ledgers, journals, and registers in conformance with generally accepted accounting practices and procedures (GAAP) and Rural Utilities Service (RUS) guidance.
• Apply accounting principles to analyze financial information and prepare financial reports. Compile and analyze financial information to prepare entries to accounts and document business transactions.
• Analyze financial information detailing assets, liabilities, and capital. Prepare balance sheet, profit and loss statement (operating statement), and other reports to summarize current and projected financial position.
• Direct or prepare monthly and yearly financial board reports.
• Direct the process of payroll and the filing of tax statements with appropriate agencies and maintain appropriate documentation.
• Support operations by processing and maintaining records for inventory, work orders, materials, capacity requirements planning, special equipment, retirements, and field construction.
• Audit vendor contracts, orders, and vouchers. Prepare reports to substantiate individual transactions.
• Actively participate in succession planning for the Cooperative.
• Interface with third-party personnel, consultants, and vendors as required.
• Collaborate with Cooperative leadership, advising and providing solutions for their financial information and analytical needs.
• Initiate or direct the research, creation, review, and revision of operational and financial policies and procedures and recommend adoption to General Manager.
• Provide control oversight and internal audit performance to ensure compliance with Cooperative policies.
• Continually look for improvements and developments in administrative and finance procedures, practices, methods, and equipment that will improve best practices for financial internal controls, compliance, recordkeeping, productivity, safety, employee morale, and customer services. Initiate or direct the research, creation, review, and revision of related policies.
• Establish and maintain an effective system of financial reporting and internal accounting control. This objective is implemented through overseeing the preparation of monthly financial reports and supporting subsidiary accounts preparation and monitoring annual budgets, performing internal audits when necessary, advising other departments in financial matters, and other duties that may be required.
• Establish or recommend to General Manager and Board major financial and economic objectives for the Cooperative. Implement these objectives through activities such as preparation of rate studies and cost of service analysis, preparation of long-term financial forecasts, preparing loan applications for Board approval, maintaining effective cash management practices, and other appropriate duties that may be required to meet these financial and economic objectives.
• Responsible for implementation of approved service conditions and tariffs.
• Assist in the development of Strategic Plan and align departmental goals with established Cooperative Mission.
• Attend all Cooperative board meetings and answer financial questions from the Board.
• Attend meetings for other organizations to represent KEA as needed.
• Actively participate in courses, conferences, webinars, and relevant meetings to improve industry awareness, skills, and ability.
• Carries out supervisory responsibilities in accordance with GAAP, in accordance with the Cooperative’s policies and applicable laws, and in conformance procedures and relevant RUS (Rural Utilities Service) guidance, while maintaining confidentiality of sensitive documents and personally identifiable information.

This job description does not constitute a written or implied contract of employment. This job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. KEA reserves the right to revise or change duties, responsibilities, and activities and may change at any time with or without notice.

To apply, please submit a letter of interest and a resume to:
Tom Atkinson GM/CEO KEA, PO Box 44, Kotzebue, AK, 99752 or email Tim Atkinson

Job Related Qualifications

Knowledge, Skills and Abilities:

• Knowledgeable of the Cooperative and the I.B.E.W. local Union No. 1547 agreement operations, policies, and procedures.
• Knowledge of Generally Accepted Accounting Principles.
• Knowledge of preparing reports for management and measuring results.
• Knowledge of budget techniques and practices for efficient and cost-effective management of resources.
• Knowledge of the principles and practices of legal, ethical, and professional rules of conduct.
• Knowledge of personal computers in a Windows environment, including use of Microsoft Word and Excel.
• Knowledge of general record keeping and filing, and able to use standard office equipment.
• Skill in reading, interpreting, understanding, and applying Cooperative’s policies and procedures along with the agreement between the Cooperative and the I.B.E.W. local Union No. 1547
• Skill in analyzing processes for efficiency and make recommendations for improvement.
• Skill in leadership, coordinating staff, assessing, and prioritizing multiple tasks, projects and demands, and delegating tasks and authority.
• Skill in establishing and maintaining effective working relations and work functionally across all levels of the organization.
• Skill in developing and administering a comprehensive budget.
• Skill in establishing and maintaining working relations with coworkers, other Cooperative employees and representatives, and the members.
• Skills in negotiating agreements, reaching settlements, or explaining complex matters, justifying programs concerning issues that are controversial and/or critical to the operation of the organization.
• Ability to analyze complex financial data and explain variances. Education, Experience, Certifications, and License Required:
• Bachelor’s degree in finance, accounting, business, or appropriate discipline required.
• Seven years of experience in general ledger accounting and financial management with three years of supervisory experience in accounting.
• Valid Alaska driver’s license with a satisfactory driving record.
• Must pass pre-employment drug screen and will be subject to random drug testing per DOT requirements.
• Must relocate to Kotzebue, Alaska Full-Time. Relocation assistance available.
• Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
• While required to sit, stand, walk, stoop, bend and frequently utilize a keyboard/computer. Specific vision abilities include close vision, peripheral vision, depth perception and the ability to adjust focus. The employee must occasionally lift and/or move up to 40 pounds.
• Be able and willing to work irregular hours or long continues periods of times to meet the needs of the Cooperative when they arise. Work Environment: The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
• The noise level in the work environment is usually low.
• While performing the duties of this job, the employee will occasionally be exposed to extreme weather.