Senior Business and Financial Manager

Job Summary

New River Light and Power is an electric utility with an annual budget of approximately 24 million dollars whose primary purpose is to provide the highest level of service at the lowest possible cost to its over 9,000 customers in the Boone community, including App State.

Position serves as the primary financial and business operations administrator for New River Light & Power (NRLP), providing strategic leadership, oversight, and direction for the utility’s accounting, financial management, customer operations, budgeting, regulatory compliance, procurement, inventory, and administrative functions.

The position serves as a key advisor to executive leadership on the utility’s financial strategy, operational planning, regulatory compliance, budgeting, and organizational risk management while ensuring compliance with University, State, Federal Energy Regulatory Commission (FERC), North Carolina Utilities Commission (NCUC), and generally accepted accounting principles (GAAP) requirements.

Primary Responsibilities

• Direct oversight and administration of the utility’s approximately $24 million operating and capital budget.
• Oversee budget development, expenditure monitoring, financial forecasting, variance analysis, and long-range financial planning activities.
• Provides leadership and administrative direction in the development of processes, procedures and systems that contribute to successful NRLP business and financial operations.
• Responsible for providing overall direction and oversight for the accounting functions and financial systems including financial reporting, general ledger, accounts payable and receivable, cash management, cost accounting, inventory management, payroll, contract and grant accounting, internal control, etc.
• Supervise and manage customer service, accounting, and warehouse/inventory personnel, including workflow coordination, performance management, training, operational oversight, and process improvement.
• Thorough knowledge of accrual and utility accounting, budgeting, and inventory practices is required as well as serving as the principal financial and business advisor to the General Manager/senior management regarding utility operations, financial planning, budgeting, regulatory impacts, capital projects, and organizational strategy.
• Financial modeling, forecasting, and long-range financial analysis supporting operational and capital planning initiatives.
• Oversee development and implementation of financial, accounting, and business operational policies and practices and also the overall direction of financial business operations and customer service delivery.
• Responsible for researching, analyzing and addressing problems of significant fiscal or business impact. Analyze operational and financial trends and recommend strategic actions to improve efficiency, cost management, and financial sustainability.
• Direct development and oversight of internal control systems designed to safeguard utility assets and ensure financial integrity. Evaluate financial, operational, and compliance risks and implement corrective actions or procedural improvements as necessary.
• Participate in executive-level planning and operational decision-making impacting utility operations and customer services.
• Is the primary interface with the Appalachian State Finance and Operations and Internal Audits departments.
• Responsible for maintaining Federal Energy Regulatory Commission (FERC) accounting and compliance with the NC Utilities Commission (NCUC) and other regulatory agency rules and policy. Interpret and apply utility accounting standards, regulatory reporting requirements, and financial compliance regulations impacting utility operations. Coordinate and oversee preparation of regulatory reports, financial filings, rate-related financial analysis, and external reporting requirements.
• Oversee financial administration of utility capital projects including budgeting, expenditure tracking, project cost analysis, capitalization, financial reporting, and contract compliance. Monitor capital improvement project activity to ensure financial accuracy, regulatory compliance, and alignment with operational and strategic objectives. Perform the same as it applies to App State capital project support.

Specific responsibilities include but not limited to:

• Overseeing activities of purchasing
• Planning and coordinating both internal and external audits and resolving any audit questions;
• Establishing and maintaining all customer, financial and accounting systems for the utility, including vendor contracts, changes, enhancements, disputes, and resolutions regarding these systems.
• Key contact on reporting data to the NCUC, Energy Information Administration (EIA) and outside consultants, particularly in regard to annual reports, purchase power adjustment and rates.
• Additional responsibilities include overseeing planning, coordinating, and supervising the preparation of the utility budget;
• Collection and analysis budget estimates and requests;
• Budget management and monitoring overall spending;
• Management of customer accounts, billing, and payment;
• Monitoring invoicing and debt collection, and the conduct of on-going and special management studies.
• Ability to maintain successful working relationships with colleagues, customers, administrators and administrators affected by the business operations

Job Requirements

Minimum Qualifications:

• The candidate must be a person of high character and integrity.
• Graduation from a four-year college or university with a degree in Accounting, Finance or a degree closely related to the area of assignment, twelve hours of accrual accounting credits, and three years of professional accounting experience of which at least one is supervisory; or an equivalent combination of training and experience.
• Degrees must be received from appropriately accredited institutions.

Preferred Qualifications:

• Minimum of five years of extensive, professional accrual accounting experience, of which at least one is supervisory.
• Experience in a utility or similar work environment, preferably electric.
• CPA or Master’s degree in Accounting, Finance or a degree closely related to the area of assignment, twelve hours of accrual accounting credits, or an equivalent combination of training and experience.
• Degrees must be received from appropriately accredited institutions.
• Must have strong leadership and communication skills.
• Ability to evaluate and recommend policy and procedures as it relates to the business functions of NRLP.
• Must have strong accounting and financial skills.

 

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