Chief Financial Officer

Chief Financial Officer

Safety sensitive—no uniform required—Position Overview The Chief Financial Officer (CFO) is a member of the Little Rock Water Reclamation Authority's (LRWRA) Executive Leadership Team. The CFO reports directly to the Chief Executive Officer (CEO). LRWRA is governed by a seven-member Board of Commissioners. This position requires strong leadership skills with the ability to plan, direct, implement, and manage all financial-related activities and financial management support. LRWRA's CFO is an executive-level leader who must possess strong decision-making and critical thinking skills while executing strategies effectively. The individual must have the ability to draw on experiences, anticipate outcomes, have an intuitive sense of understanding situations, shape issues rather than issues shaping them, and exercise innate judgment on important initiatives. The CFO should have the capacity to cope with complexity, change, and uncertainty, and have the resiliency and ingenuity to adapt to new and different circumstances. The position is responsible for all fiscal and fiduciary activities for LRWRA. The CFO plans, develops, forecasts, implements, and monitors all financial strategies. This includes oversight responsibilities regarding financial reports, accounting operations, contracts, and proper procurement efforts in compliance with federal, state, and local accounting agency guidelines. Also, acknowledgment of public bond issuance, maintenance of a strong bond rating, and the interrelationship of debt service and retail rates is critical. The CFO and their team are responsible for production of the Annual Comprehensive Financial Report. The CFO is also responsible for implementing, monitoring and ongoing development of internal and external control systems to safeguard the organization's assets. Additionally, the CFO recommends and implements reasonably accurate financial planning and modeling practices, monitors financial activities, provides accurate updates and reports to the CEO and senior leadership. The CFO directly supervises, advises, develops, and leads a total of 20 professional team members including 12 in accounting, finance, and procurement, two in environmental security, risk management and safety and six in information technology. As part of the leadership/management team, the CFO is expected to interact effectively with all departments and external stakeholders.

Examples of Duties

Principal Duties & Responsibilities (Essential Functions)

• Maintain effective working relationships with all members of the executive and senior leadership team.
• Support employee career growth and assist in solving complex problems including conflict resolution.
• Challenge supervisory level staff to excel and continuously improve individual and/or team performance and productivity.
• Be assertive and demanding, expect excellence while nurturing creativity and innovation.
• Coordinate work activities and oversee all aspects of Finance, Accounting, Procurement, Payroll, Information Services, Environmental Health and Safety, Security and Risk Management.
• Recommend, engage, and implement directions from and for the CEO, Executive Staff and the Commission concerning issues, trends, and changes in financial reporting.
• Involved in the development of rate studies, capital improvement plan budgeting and forecasting, maintenance of a strong bond rating and improving the financial position of the Utility.
• Assess and report to CEO and Executive Staff financial performance against the annual budget and long-term strategy.
• Develop tools and systems to provide critical financial and operational information and make both operational and strategic recommendations as needed.
• Provide leadership in the development of and continuous evaluation of short, and long term strategic financial objectives.
• Oversee the supervision of department staff.
• Resolve work problems presented by staff. Effectively listens to concerns and employee complaints, reviews disciplinary cases, proposes progressive action as necessary.
• Responsible for reliable cash flow projections and reporting mechanisms that result in meeting and/or exceeding minimum available cash requirements.
• Optimize the handling of banking relationships and initiate appropriate strategies to enhance cash positions.
• Oversee the preparation of accounting and financial data for rate modifications and public bond issues as required.
• Ensure effective internal control are in place for compliance with GAAP, GASB and other applicable federal, state and local regulatory laws and rules for financial and tax reporting.
• Oversee and maintain policies and procedures and that allows for efficient achievement of departmental tasks and objectives.
• Responsible for ensuring all compliance requirements for revenue bonds are satisfied subsequent to their issuance.
• Oversee internal audits of assets and procedures to ensure the safeguard of property.
• Provide effective leadership over a self-insured workers' compensation program.
• Stay aware and informed of all aspects contributing to the financial performance of LRWRA's self-insured healthcare program, including risk management through stop-loss insurance.
• Oversee the risk management program including property values, insurance claims, settlement of insurance claims, investigates and resolves uninsured claims.
• Oversee environmental and safety regulatory compliance with federal, state and local agency guidelines.
• Oversee the Information Services Department including all IT-related capital investments, security, IT governance, software procurement and maintenance and support of all software applications.
• Develop and mentor a strong team through training, problem resolution, performance evaluations, operating procedures, and teamwork.
• Ensure established work procedures and practices are followed.
• Follows safety practices and guidelines.
• Serve as the Chairperson of the Retirement Committee, having fiduciary oversight of LRWRA's defined contribution retirement program(s).
• Undertakes any reasonable request within capabilities that is good for the community and the utility.
• Other duties as assigned.

Typical Qualifications

Qualifications & Skills Required:

• Bachelor's degree in accounting or finance from an accredited institution.
• High level of written and oral communication skills including the ability to explain complex information effectively to those with less experience in financial accounting or finances in general.
• Minimal travel.

Preferred:

• Master's degree in accounting or finance or business administration is desirable.
• Successful completion of the CPA exam.
• Licensed Certified Public Accountant, Government Financial Manager, or Public Finance Officer.

Other Requirements:

• Require a minimum of 15 years of progressive responsible experience working in the private sector and/or governmental or municipal finance administration, with an emphasis on the areas of finance, budgeting, and accounting.
• Minimum of 8 years progressive leadership (managerial) experience over a multi-disciplinary department.
• Thorough knowledge of modern principles and practices of Accounting, Procurement, Risk Management and public finance.
• Familiarity with ordinances and state laws governing the financial administration of municipal utilities.
• Familiarity with utility rate making process, issuance and compliance requirements for public bonds and bond rating process.
• Familiarity with the functions, organization, staffing, and operating procedures of a municipal entity such as LRWRA.
• Ability to develop sound accounting systems and procedures.
• Ability to analyze budget estimates and detect improper or unrealistic requests.
• Ability to plan, assign, and direct the work of supervisors.
• Ability to supervise, communicate, and lead project team members.
• Ability to make effective presentations to LRWRA staff, commissioners, regulatory agencies, city officials, and the public as required.
• Ability to communicate effectively with government agencies, consulting engineers, contractors, and the public.
• Ability to prepare clear, concise reports.
• Ability to document programs and procedures.
• Ability to schedule projects and meet deadlines.
• Familiarity with oversight of the security, reliability and availability of a complex organization's information technology environment.
• Ability to obtain and maintain a valid Arkansas driver's license.

Supplemental Information

This position has been evaluated as to whether a momentary lapse of attention may result in grave and immediate danger to the employee, coworkers, or the public. If the designation is yes, the Arkansas Medical Marijuana Act (AMMA) of 2016 will govern working conditions. If not, the AMMA will not apply to the position. This position has been evaluated as to the mandated wearing of a company uniform during working hours. It has been determined that employees in this position are not required to wear a company uniform during working hours.

Benefits

Employee Benefits Health/Prescription/Dental/Drug/Vision

• Health & Prescription Drug - UMR (United Healthcare) - High Deductible with H.S.A
• Dental - Delta Dental Plan of Arkansas
• Vision - DeltaVision / EyeMed Insight

Holidays

• 11 days per calendar year plus one floating holiday.
• Paid Time Off (PTO)- Hours accrue