Director of Finance & Accounting
Reading, MA
Full Time
Accounting and Finance
Experienced
Reading Municipal Light Department
Job Position Description
| Job Title: Director of Finance & Accounting | Reports to: General Manager |
| Division: Executive Group: Finance & Accounting | Job Grade: 55 |
| Revision Date: 2022-08-30 | Reviewed By: |
| Work Location: 230 Ash St Office | Union: Y☐ N ☒ |
| FLSA: Exempt ☒ Non-exempt ☐ | Compensation Range: $140,000 to $180,000 |
This Position Description presents illustrative work activities usually encountered by personnel filling this position. It is not meant to list all possible work activities in all possible work conditions. It is also not meant to define specific limits on work activities that may be performed by any person holding this position. It is not intended to limit or in any way modify the right of management to assign, direct and control the work of employees under supervision. Position descriptions may occasionally be changed to allow the RMLD to better meet the needs of the customers, reflect applicable laws and regulations, or otherwise implement Commission policies. All non-bargaining unit RMLD workers are “employees at will.”
Job Summary:
The Director of Finance & Accounting is responsible for the leadership for all activities of the Division, under the direction of the General Manager and in accordance with the Board of Commissioner policies and votes. The Director is responsible for the training and management employees within the Finance & Accounting Division and timeliness and accuracy of the Division’s activities deliverables.
Illustrative Work Activities:
Essential work activities, pursuant to the Americans with Disabilities Act, may include the following:
- Lead accounting team to manage, update, and maintain accounting books and records of the RMLD, consistent with part 101 of the Uniform System of Accounts Prescribed for Public Utilities and Licenses subject to the provisions of the Federal Power Act
- Analyze and present financial reports in an accurate and timely manner; clearly communicate monthly and annual financial statements; collate financial reporting materials for all segments of the business, and oversee all financial, project/program and grants accounting.
- Coordinate and lead the annual audit process, liaise with external auditors and the finance committee of the board of commissioners; assess any changes necessary.
- Oversee and lead annual budgeting and planning process in conjunction with the General Manager; administer and review all financial plans and budgets; monitor progress and changes; and keep senior leadership team abreast of the organization’s financial status.
- Manage RMLD cash flow and forecasting.
- Implement a robust contracts management and financial management/ reporting system; ensure that the contract billing and collection schedule is adhered to and that financial data and cash flow are steady and support operational requirements.
- Leads RMLD’s material management team. In coordination with other Division Directors, ensures appropriate levels of material stock and timely ongoing purchases, consistent with applicable laws and internal policies.
- Update and implement necessary accounting practices; improve the finance division’s overall policy and procedure manual.
- Shares responsibility with the General Manager for the quarterly updates at the Board meetings and the annual presentation to officials of the four towns.
- Responsible for the overall management of the Division including recruiting needs, scheduling, project assignments, employee evaluations, raise recommendations, training, timeliness and accuracy of the Division’s activities.
- Develops and promotes employees’ career development.
- Champions the creation of annual RMLD’s operating and capital budgets and development of multi-year capital plan based on input and synchronization from all the divisions.
- Develop and lead the execution of capital raises to help support the funding of RMLD operations and capital expenditures.
- A track record in grants management.
- Administers Pension Trust accounting processes.
- Works with auditors for annual audits of both the RMLD and Pension Trust audits. Submits annual report filings at federal and state levels (i.e., 861, DPU).
- Provides coverage for General Manager as assigned (payroll and payables signature authorization). Reviews and approves training for all division personnel. Interacts with Human Resources on employee, wage and labor issues.
- Responsible for the preparation and distribution of the monthly financial statements and corresponding reports (i.e., 826, sales tax).
- Additional responsibilities may be assigned to the Director by the General Manager from time to time.
- Work in cooperation and mutual encouragement of senior management team.
Minimum Qualifications
Education:
A minimum of a Bachelor's degree in Finance and Accounting or Business Management or related area as determined by the RMLD. Ideally with an MBA and CPA or related Degree.
Experience:
Minimum 15 years of general accounting experience. A minimum of 5 years’ experience in municipality or utility accounting, project management, demonstrated management of a department of division, demonstrated financial and strategic planning, budget experience and year end closings. A successful track record in setting priorities; keen analytic, organization and problem solving skills which support and enable sound decision making.
Knowledge, Skills and Abilities:
Knowledge of management, finance and administration of a publicly owned electric utility. Knowledge of accounting practices and concepts. Superior skills in development and application of PC-based financial models and spreadsheets. Ability to interact effectively with the public, city leaders and boards. Skill in utilizing and interpreting financial data. Competency in economic and financial forecasting. Knowledge of RMLD’s billing and accounting software, budget and project management and utility accounting, DPU regulations and MGL Chapter 164 as well as purchasing and bidding laws. Strong oral, written and presentation skills. Well-developed computer skills and excellent knowledge of Microsoft software tools.
Judgment and Initiative:
Ability to manage (directly and indirectly), strategize, and accept responsibility for a major divisional area including procedures, policies, and operations. Demonstrates initiative in ensuring continued process improvements in areas of job description duties to demonstrate better accuracy, productivity, safety, and customer service, is expected. Strong understanding of utility’s best practices enables predictive and preventative initiatives. Demonstrates capability for accepting responsibility when involved with internal and external customers. Proven financial strategic planning competence including holistic understanding and recommendations addressing the financial reports in the short and long term.
Manual Skills:
Ability to use a computer, telephone, standard office and communication equipment.
Physical Requirements:
Ability to perform job functions under occasionally adverse weather and working conditions for extended periods of time. Moderate physical effort may be required on an intermittent basis.
Supervisory:
Supervisory duties extend to direct and indirect reports as a co-effort with divisional supervisors in performance evaluation, training, hiring, and discipline with occasional direct review and comment on critical projects. Responsible for evaluating performance, training, hiring and disciplining of personnel. Maintains CDP’s for employees supervised.
License and Certifications Required:
Driver’s license valid in MA required.
Other:
Demonstrates ability to communicate ideas and directions to employees, customers, vendors and peers in a clear and concise manner. Demonstrates ability to be a team player. Demonstrates a positive attitude.
Employee Acknowledgement:
I have read this job description (or had it read to me) and I fully understand all my job duties and responsibilities. I am able to perform the duties and responsibilities as outlined, with or without reasonable accommodation. I understand that my job duties and responsibilities may change on a temporary or regular basis according to the needs of my division and if so, I will be required to perform such additional duties and responsibilities.
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