JOB PURPOSE: This is a leadership position responsible for managing financial and control activities, including consumer and general accounting, financial planning, banking, insurance, accounts payable, payroll, taxes and employee benefits for Kit Carson Electric Cooperative ("Cooperative"). This position ensures risk management is evaluated to protect the financial viability of the Cooperative and helps Cooperative management make informed business decisions.
MAJOR RESPONSIBILITIES AND TASKS:
Guide financial decisions by establishing, monitoring, and enforcing policies and procedures.
Direct the strategic direction of the Cooperative by establishing financial strategic goals and initiatives.
Develop and maintain a high-performance culture in the Accounting Department resulting in continued success in meeting functional goals and driving efficiencies.
Identify and develop key talent and appropriately manage the accounting staff to ensure the success of all individuals in the department, as well as achieving department goals and objectives.
Develop, document, and maintain best in class accounting processes and procedures. Maintain internal control documentation and test internal controls.
Facilitate and direct cost of service studies to establish a rate structure that supports the financial goals of the Cooperative.
Produce annual budget and quarterly re-forecasts by assembling pertinent data. Calculate variances from budget, report material variances to Leadership Team monthly, suggests corrective actions.
Responsible for month-end closing, preparation of journal entries as necessary, maintains accruals, maintains detail schedules to balance sheet accounts including fixed asset and depreciation schedules.
Create and issue accurate, timely, and complete financial statements monthly. Report and analyze revenue, expense, and margin information by business, by division.
Coordinate the preparation of the corporate annual report.
Monitor bank covenants, produce borrowing base reports, and maintain positive bank relationships.
Administer and monitor the Cooperative long-term power contracts.
Perform and evaluate long-term load forecasts.
Prepare long-term financial forecasts to identify when rates need to be adjusted.
Prepare the financial budget of the Cooperative in conjunction with the CEO and Board of Trustees.
Direct and facilitate consumer service and supply contracts by executing price redeterminations that meet the financial goals of the Cooperative.
Perform cost-benefit and payback analysis with Cooperative management to help make informed business decisions.
Manage the Cooperative's cash projections. Maximizes return and limits risk on cash by minimizing cash balances and maximizing investments.
Provide status of financial condition of the Cooperative by collecting, interpreting and reporting key financial data. Evaluates the Cooperative's key trend ratios to establish benchmarks and performance indicators.
Maintain current information on investment trends; Studies the financial market and invests surplus general funds to the benefit of the Cooperative.
Oversee annual physical inventories. Explains book to physical differences and establishes procedures to eliminate inventory variances.
Prepare CAR financial justifications for plant capital projects.
Track capital project spending, timing and cost impact against project plan, forecasts and budget to understand and report variances.
Work with management to assure timely capitalization of equipment placed in use. Oversees CAR post audits to verify savings.
Manage budget and controls expenses effectively by monitoring financial trends of the Cooperative. Analyzes operational business processes to identify financial opportunities to improve operations.
Perform special projects as directed by management to determine financial decisions.
Provide assistance of the Cooperative's financial audits as directed by the CEO and external auditors or accountants.
Manage the Cooperative's long-term debt to ensure quarterly balancing matches with the lender. Executes long-term debt work papers for the financial audit. Identifies loan fund needs from the financial forecast.
Oversee the Accounts Payable and Payroll functions of the Cooperative and associated reporting, filings and compliance requirements.
Perform other duties as assigned by the CEO, COO or Assistant Cooperative Manager.
SUPERVISORY RESPONSIBILITY (IF ANY):
Accountants, Payroll administrators, Accounts payable specialists, Warehouse and inventory control specialists
DECISION-MAKING AUTHORITY (IF ANY):
Strategic and operational.
Knowledge of generally accepted accounting principles, including cost accounting, budgeting and auditing is required.
Knowledge of utility rate structures is preferred.
Knowledge of economic and accounting principles and practices, financial markets, banking and the analysis and reporting of financial data.
Knowledge of RUS Uniform System of Accounts is preferred.