Director, Finance

Rappahannock Electric Cooperative (REC) is a progressive member owned utility with a service area that spreads from the Blue Ridge Mountains to the tidal waters of the Chesapeake Bay. REC serves over 165,000 connections in portions of 22 Virginia counties.

OVERVIEW

Rappahannock Electric Cooperative (REC) is seeking a Director of Finance to participate in and be a part of the operational management team where the cooperative challenges are recognized, discussed, and solved. In addition, this individual will focus on the cooperative’s overall goals and objectives, taking into consideration the changes in business climate and the industry.

This individual will own, review, and implement where necessary the processes and policies for the department to ensure regulatory compliance and adherence. This individual will provide oversight and feedback to the following functions: finance, accounting, internal controls, budgeting, reporting, treasury, audit, tax, and analysis.

ROLE AND RESPONSIBILITIES

• Establish and maintain effective internal controls to safeguard company assets, ensuring all financial reports are prepared in compliance with regulatory requirements. Review and document all financial processes including but not limited to month-end close, accounting, reporting, cash management, and treasury. Coordinates and manages the activities associated with the overall timing, content, and presentation of the cooperative’s financial plan (income statement, balance sheet, and statement of cash flows) at the consolidated corporate level. Reviews monthly variance reports, including explanations of variances for current month actual to budget, year-to-date actual to budget, and month-over-month and year-over-year actuals. Prepares and updates long and short-term financial forecasts, compares projections with actual performance, and analyzes variances.
• Inform management of policies or practices that are not being adhered to and establish change management plans to ensure adherence. Seek new methods for the improvement of existing processes, creating efficiencies, and providing value-added services for the cooperative. Assist in reviewing the functions and activities of the Financial Planning and Treasury Services Department and recommend any necessary changes in the department’s structure to meet objectives.
• Reviews financial and economic data, prepares analysis, and makes recommendations to support capital addition and debt issuance decisions. Performs sensitivity analysis, prepares reports, and assists with developing recommendations and preparation of materials for management decision-making and corporate financial policies. Assists in preparation of financial analysis and presentation materials for management, rating agencies, underwriters, lenders, and investors. Assists cooperative personnel in preparing and reviewing financially related matters such as capital budget items, lease/buy analysis, and costing analysis.

QUALIFICATIONS AND EDUCATION REQUIREMENTS

Four (4) year degree or equivalent in Finance, Accounting or Business Administration, required. A Master of Business Administration degree, Certified Public Accountant (CPA) or Certified Management Accountant (CMA) professional certification, desired. Must complete at least one (1) professional development activity annually. Ten (10) years, or more, of related work experience in financial planning and/or analysis, accounting, budgeting, banking or treasury services in the private sector required. Work experience with a corporation in a capital-intensive industry desired. Supervisory experience required.

Forward-thinking capacity, leadership, and supervisory experience are essential for the successful candidate. In particular, this position will require the following competencies:

Interpersonal: Excellent collaboration and communication skills; Proven ability to motivate teams and align diverse groups around common goals and objectives; Builds trust and commitment through personal commitment and integrity; Recognizes and demonstrates respect for different personalities and capabilities; Uses diplomacy and tact to resolve disputes.

Technological: Capacity to develop working knowledge of the various technologies being deployed under the grant program and how they integrate; Ability to use Microsoft Office suite as well as project management tools.

Decision-making: Ability to think critically and solve problems expeditiously; Is agile in adapting to changing conditions; Develops and objectively evaluates alternatives; Able to apply lessons learned to new situations and decision points; Considers both short and longer-term consequences and chances for success in decision making.

Organizational: Proven ability to prioritize tasks and schedules; Ability to effectively manage all phases of large-scale projects and change initiatives; Sets and enables achievement of challenging but realistic goals.

Leadership: Ability to influence, inspire and motivate; Models REC’s core values (Caring, Respect, Integrity, Service); Fosters a culture of accountability; Adept at providing coaching and feedback to employees, including those with no direct reporting relationship; Maintains focus on ultimate impact on members; Ability to clearly articulate complex ideas in ways that engage various stakeholders.

This role is based in our Fredericksburg headquarters with opportunities for blended or remote work. The role will involve ongoing engagement and obligations with REC partners, employees, lenders, suppliers, and consultants. Attendance at local and out of-state seminars and conferences several times a year may be required.

Please see our Careers page for more details about this exciting opportunity: https://www.myrec.coop/sites/default/files/documents/careers/Director - Finance FB.pdf

Job Type: Full-time

Pay: $144,937.00 - $190,000.00 per year

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Health insurance
• Life insurance
• Paid time off
• Retirement plan
• Tuition reimbursement
• Vision insurance

Schedule:

• 8 hour shift
• Day shift
• Monday to Friday

Education:

• Bachelor's (Preferred)

Experience:

• Technical Engineering: 10 years (Required)

Work Location: In person

Salary : $144,937 - $190,000