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Director of Finance

For City of Burlington

As a member of BED's management team, the Director of Finance is responsible for the overall financial management, direction, and planning for the Burlington Electric Department ("BED" or "Department"), including the McNeil Generating Station and VELCO joint ownerships and the Winooski One Hydro facility.  Responsibilities include budgeting and financial forecasting, financial analysis, general accounting, treasury and cash management, payroll, billing and meter-to-cash processing, internal and external financial reporting and compliance, audits, and oversight of the Department's financial information system, advanced meter infrastructure (AMI) system, meter data management (MDM) system, and peak, sales, and revenue forecasting.

Essential Job Functions

Culture of Excellence

  • Provide high-quality leadership for BED to encourage innovation and creativity across the organization and to establish a culture of excellence and an environment that results in motivated, creative employees who exhibit the ability and desire to function as part of a well-functioning team to accomplish common BED goals.
  • Instill in the organization an understanding that the customer is at the center of everything we do and that an exceptional customer experience is critical to BED's strategy and performance.
  • Champion an understanding that improving employee satisfaction is critical to creating an exceptional customer experience at BED. Ensure that empowering employees is considered in all key decisions.
  • Work with Manager of Strategy & Innovation, and other senior managers in creating an open, respectful culture where every employee feels comfortable sharing ideas and opinions. Help break Department silos, flatten hierarchies, and encourage dialogue between employees within and across teams. Help create a culture where employees have personal ownership for BED's success and are encouraged to take responsibility, make decisions, fail without fear, and learn from mistakes.
 Financial Management
  • Serve as senior financial advisor to BED's senior management team, evaluating, formulating, and implementing programs, policies, and practices that achieve the Department's Mission and Strategic Plan.
  • Manage and direct the development, implementation, and maintenance of the Department's financial management, internal control, and fiscal reporting policies, procedures, activities, and performance measures.
  • Ensure timely and accurate compliance with all GAAP, State of Vermont PUC regulatory, GASB, FERC, bondholder, and external rating agency accounting and reporting requirements. Oversee the development of financial reporting systems ensuring internal, external, and grant reporting requirements are met.
  • Develop, implement, and maintain control procedures for prudent, fiscal recordkeeping and accounting, including the safeguarding of financial assets.
  • Manage finance, accounting, treasury, banking, rates, budgeting, and financial planning and analysis functions in accordance with prudent utility practice and with applicable Vermont State law, City Charter provisions, and rules and regulations as adopted by the Board of Electric Commissioners, Burlington City Council, and the Vermont Public Utility Commission.
  • Oversee the coordination and activities of independent auditors. Oversee the fiscal year-end financial audit; act as a principal contact for the outside auditors. Responsible for completing Uniform Guidance Single Audits when grants exceed the required threshold.
  • Present financial results, including budget compliance, to senior management and Electric Commission. Participate in presentation and recommendation of BED budget approvals to the Board of Electric Commissioners and the Burlington Board of Finance.
  • Represent the Department in various capacities and serve on committees and groups as may be required.
  • Serve as one of the lead negotiators at City and IBEW negotiating sessions. Provide formal testimony at mediation and/or arbitration hearings, as needed.
  • Signatory on payrolls, payables, and wire letters.
  • Serve as tax compliance officer for Burlington Electric Department, maintaining responsibility for all tax matters.
  • Oversee the development and coordination of the operating and capital budgets for all departments within BED. Assist with the McNeil Joint Owners' calendar year budgets and budgeting for the Winooski One Hydro facility. Develop recommendations and formal proposals for cost containment and expense reduction.
  • Research and develop long-term financial strategies, including the provision of capital (public offerings of long-term debt) and five-year financial forecasts.
  • Responsible for revenue requirement filings and expert testimony with the Public Utility Commission.
  • Provide decision support, monitoring, and review of major capital expenditures and new business ventures, including analysis, financial impacts, accounting and controls, and funding.
  • Manage and supervise the Department's Finance and Accounting staff and division, including motivating, training, and evaluating employees; providing guidance and technical expertise; leading and managing change; and developing and managing the operating and capital budgets for Finance and Accounting.
  • Manage the Supervisor of Billing and Analytics, who is responsible for BED's meter-to-cash process (including the operation of the AMI, MDM and billing systems), peak and energy forecasts, and monthly sales and revenue forecasts to support the Department's annual budget.
  • Responsible for all treasury and cash management functions of the Department, including investment policy, line of credit authorization, leasing opportunities, and developing and maintaining contracts and positive business relationships with local and regional banks. Maximize returns on invested funds by identifying investment opportunities and maintaining positive relationships with the investment community. Custodian for all BED funds and securities.
  • Guide and Oversee the configuration and effective use of the Department's financial information systems, including budgeting, general ledger, customer billing, payroll and time entry, accounts payable, treasury/banking, fixed assets, cash receipts and  accounts receivables.
  • Coordinate with the City on the Department's Deferred Compensation ("457") Plan and ensure compliance with the Plan limits and other reporting requirements.
  • Oversee the collection of assets, bankruptcy processing, and account write-off.
  • Responsible for compliance with BED's Service Quality and Performance, Monitoring & Reporting Plan ("SQRP").
  • Track, analyze, and improve upon Moody's Bond Rating Financial Indicators, including debt service coverage ratio, day's cash on hand, and debt ratio.
  • Oversee financial analyses or accounting research required by BED divisions.
  • Review and oversee the implementation of all new GASB Pronouncements.
  • Responsible for Continuing Disclosure and Arbitrage Rebate Analysis on bond obligations.
  • Maintain the security of confidential information.
Feb 06, 2020
3/4/2020 11:59 PM Eastern
Master's Degree in Accounting, Finance, Business Administration, or a related field required. Eight (8) years of financial management and accounting experience required, including at least three (3) years of management or supervisory experience. Experience within an electric utility preferred. Additional experience may be substituted for a degree requirement on a two-for-one year basis. CPA license preferred. Previous audit and cash management experience required. Demonstrated knowledge of accounting principles and financial accounting standards required; utility accounting experience preferred. Experience with bond offerings preferred. Experience with labor relations and union negotiations preferred. Experience with developing and implementing budgets and strategic and long-range financial plans required. High technical aptitude and proficiency with word processing, spreadsheet, complex data, and enterprise resource planning systems required. Ability to interact and maintain cooperative relationships with employees, customers, Commissioners, City Councilors, other City Departments, legal counsel, regulatory agencies, other utility representatives, and members of the financial community. Demonstrated abilities in effective leadership, ethical behavior, and communication. A strong desire to improve service to internal and external customers and a high level of personal creativity, initiative, and enthusiasm to work in a constantly improving organization. Ability to communicate effectively both orally and in writing required. Ability to actively support City diversity, equity, and cultural competency efforts within stated job responsibilities and work effectively across diverse cultures and constituencies. Demonstrated commitment to diversity, equity and inclusion as evidenced by ongoing trainings and professional development. Regular attendance is necessary and is essential to meeting the expectations of the job functions. Attendance at evening meetings, as well as occasional travel to conferences and workshops required.
Master's Degree in Accounting, Finance, Business Administration, or a related field required.
Burlington, VT
Regular Full Time Exempt
$120,174.00 - $154,722.00 Annually
The City of Burlington will not tolerate unlawful harassment or discrimination on the basis of political or religious affiliation, race, color, national origin, place of birth, ancestry, age, sex, sexual orientation, gender identity, marital status, veter