Position Summary:  Oversees Central’s strategic planning, finance, and risk management functions.  Responsible for Central’s enterprise risk management program that drives the strategic planning process.  Responsible for managing Central’s finance function, including treasury, financial forecasting, and lender relations. 

 Essential Duties and Responsibilities:

• Central’s enterprise risk management and strategic planning process:
  • Assists in the evaluation and implementation of Central’s Strategic Framework, including:
    • Assess the Framework’s continued effectiveness and applicability
    • Assist Senior Staff in improving the connection between the Framework and employee communications, incentives, goals, and tasks
    • Obtain feedback from employee and Board members and present recommended changes to Senior Staff; implement any changes made to the Framework
  • Manages an enterprise risk management process that identifies potential risks throughout Central, prioritizes those risks, and coordinates the development of plans to respond to and mitigate the impact of each significant risk, including:
    • Assemble a risk inventory from discussions with all employees
    • Through interviews and surveys, assess the importance of each risk using probability, impact, and controllability criteria
    • Provide Senior Staff with results and assist in creating plans to mitigate the most significant risks; at least annually, plan a “retreat” with Senior Staff to review risks and plans in anticipation of the creation of the Business Plan
    • Continue to assess risks throughout the year and provide Senior Staff updates as appropriate
• Coordinate with Senior Staff the strategic planning process for the Board of Trustees:
  • At least bi-annually, organize a Board strategic planning “retreat” to review Central’s Strategic Framework, its significant risks, and its strategy
  • Alternating years with the “retreat”, organize a “pulse update” to obtain input from the Board on the appropriateness of Central’s Strategic Framework
  • Provide appropriate updates in each Board Report
  • Assist the SVP & CFO in creating Board presentations updating risks and strategic plans
  • Provide the FAR Committee detailed updates on Central’s risk management strategic planning process
•  Oversees Central’s property and liability insurance coverage, including:
• • Provide safety training to reduce potential losses
  • Ensure Central remains eligible to receive FEMA reimbursements
  • Submit appropriate claims to insurance carrier and monitor reimbursement
  • Review coverages, including limits of liability, types of losses covered and excluded, etc. and make recommendations to SVP & CFO
  • Review policy renewals and pricing with SVP & CFO for submission to FAR Committee for approval
•  Central’s Finance function:
• • Manages the treasury function, including:
    • Responsible for Central’s relationship with its Lender Group:
      • Organize annual lender update
      • Communicate with lenders as appropriate
    • Determine and manage the account structure (zero balance, sweep accounts, investment accounts) for Central’s operating bank accounts
    • Create short- and medium-term cash flow forecasts to determine future borrowing and repayments on existing credit facilities to maintain appropriate levels of operating cash; borrow and repay on existing credit facilities to maintain appropriate levels of operating cash; manage interest rate structures on existing credit facilities
    • Determine and manage long-term financing
      • Submit loan applications to RUS to minimize time between energization and borrowing
      • Negotiate loan contracts with RUS; obtain approvals, paperwork to have loans and note executed appropriately
      • Submit loan advance requests as appropriate
    • Ensure compliance with loan contracts and debt agreements
•  Creates the Business Plan, Annual Budget, and Annual Report
•  Creates financial forecasts, as needed for:
• • Credit rating agency annual review
  • Lender group annual review
  • RUS and other lender loan applications
  • As needed by staff and Board
•  Provides additional financial analyses as requested by Central staff and Board.

Knowledge, Skills and Abilities:

•  Ability to self-direct work
• Attention to detail and organization
• Advanced Excel experience and skill
• Ability to work effectively with others
• Demonstrated project management skills

Education and Work Experience:

• Bachelor’s degree in accounting, finance or related field
• CPA license preferred
• At least 5 years prior experience in financial or accounting functions,
• At least 5 years prior experience in the electric utility industry with detailed knowledge of utility operations, business models, and strategic drivers of success is preferred

Central Electric Power Cooperative is an equal opportunity provider and employer.