Chief Financial Officer
|Location:||Los Angeles, CA|
|Category:||Government/Not-For-Profit : Not-For-Profit|
The Metropolitan Water District of Southern California seeks an Assistant General Manager/Chief Financial Officer ("CFO"). The CFO reports to the General Manager and directs Metropolitan’s financial activities, including accounting and financial reporting, debt issuance and management, financial planning and strategy, managing Metropolitan’s investment portfolio, budget administration, financial analysis, financial systems, and developing rates and charges. In addition, the CFO is responsible for risk management and business continuity activities.
The CFO supports all district activities and working with the line organization, develops strategies to support changes in operations and capital programs to improve operating efficiency and effectiveness. The CFO also develops short and long-term financial plans, works with member agencies and legislative bodies to implement plans and ensures that all financial activities are in compliance with applicable laws, regulations, policies and procedures and that Metropolitan’s mission, goals and objectives are met.
- Direct all activities related to financial matters including management of staff and oversight of consultants to ensure that results are accomplished efficiently and in accordance with acceptable standards for quality and technical integrity, compliance with applicable laws, regulations, policies and procedures.
- Develop and monitor short and long-term financial plans to finance the Capital Investment Plan and ongoing operations. Develop financial strategies, including alternative forms of debt, to reduce capital costs.
- Develop and implement financial policies, procedures and programs to safeguard and grow Metropolitan financial assets.
- Direct preparation of official statements, resolutions, contract, documents for sales of Metropolitan securities, monthly, quarterly, and annual financial reports, and other correspondence and reports relating to financial matters to ensure that applicable laws, regulations, policies and procedures are followed.
- Develop and implement investment policies and practices to ensure that Metropolitan’s financial resources are appropriately utilized; monitor legislative activities, accounting promulgations, and tax regulations and legislation that will affect Metropolitan’s financial reporting, debt management, investment and accounting practices. Develop and work with other agencies and Metropolitan’s legislative affairs representatives to protect Metropolitan’s financial interests.
- Provide financial reports and make presentations to the Board of Directors to keep them apprised of Metropolitan’s financial activities and financial condition. Provide strategic and tactical advice to the General Manager and the Board of Directors regarding financial issues, including debt and asset management policies and rate and revenue structures.
- Biennially, direct the preparation, administration, reporting, and coordination of Metropolitan’s budget, prepared on a fiscal year basis, in order to effectively plan and monitor expenditures throughout the district. Present and analyze the budget for the Board of Directors.
- Work with other executive and senior managers to ensure cost-effective operations. Develop measures and reports to assist line managers understand and manage costs.
- Direct risk management activities, including acquisition of appropriate insurance coverage and identifying self-insurance levels.
- Direct the preparation of complex financial studies and financial provisions for contracts between Metropolitan and other parties to ensure that Metropolitan’s interests and needs are met.
- Manage the planning, development, and monitoring of the Office of the Assistant General Manager/Chief Financial Officer’s budget to ensure the most efficient use of resources, adherence to established guidelines, and accurate and timely reporting.
- Provide strategic and tactical advice to the General Manager regarding water policy issues, operations and human resource management issues and their financial implications.
- Direct the preparation of cost-of-service studies, and rate and revenue analyses to ensure that rates and charges are sufficient to cover costs, comply with existing rules, laws and regulations, and achieve Metropolitan’s strategic water management objectives.
- Perform other related duties as required.
- Diverse work group of approximately 55 employees
- Accountable to the General Manager for all financial activities
- Project management examples:
- Manage development of biennial budget and ten-year financial forecast
- Develop capital financing plans
- Develop and implement water rates and charges to fund Metropolitan’s operating and capital programs
- Evaluate and develop financial plans to support water management and storage programs to encourage effective use of imported water supplies, consistent with Metropolitan’s mission
Required Knowledge of:
- Management/supervisory concepts and techniques
- Project management
- Financial, budget, accounting, and investment concepts and procedures
- Risk management and insurance
- Municipal finance and debt regulations, policies and practices
- Utility rates and cost-of-service for public agencies
- Knowledge of Western water and California water policies and practices would be considered a plus
Required Skills and Abilities to:
- Manage a diverse workforce
- Effectively articulate and implement organizational goals and objectives
- Prepare detailed project plans and reports
- Develop and implement financial strategies, programs, policies, and procedures
- Manage complex financial studies and projects, including the development of water rates and charges
- Work with boards and legislative bodies
- Identify the need for and initiate appropriate changes to processes and organizations
- Prepare and deliver clear, concise presentation to management, member agencies, city councils, Board of Directors, and the general public
- Provide leadership for a large organization
EDUCATION AND EXPERIENCE
A bachelor’s degree from an accredited college or university, majoring in Finance, Accounting, Business Administration, Economics or a related field and 12 years of progressively responsible experience in a financial environment, 8 years of which must have been at a managerial and/or supervisory level.
A master’s degree in accounting, economics, business administration, finance or a directly related field and 10 years of progressively responsible experience in a financial environment, 8 years of which must have been at a managerial and/or supervisory level.
CERTIFICATES, LICENSES and REGISTRATION REQUIREMENTS
Performance expectations would typically be tailored to the job and incumbent. The general categories for this job could include but are not limited to:
- Debt management
- Budget development and administration
- Cost management
- Financial goals and objectives
- Customer satisfaction
- Mutually beneficial working relationships with external regulatory and government agencies
- Employee development
- Selection and retention of workforce to meet Metropolitan diversity objectives
- Portfolio management
- Asset preservation and enhancement
- Risk management
- Water rates and charges, including taxes
Salary will be competitive and commensurate with experience.
ALL DIRECT INQUIRES TO BE MADE TO:
Korn/Ferry shall provide equal employment opportunity to all qualified candidates, and will refer candidates without regard to race, color, religion, national origin, sex, age, disability, veteran status or any other legally protected basis.