What are the responsibilities and job description for the Chief Financial Officer position at Lehman Associates?
Organizational Overview
El Paso Water Utilities (EPWater) is a municipal public utility providing regional water, wastewater, and stormwater services. EPWater serves approximately 860,000 residents, including retail and wholesale contracts, with more than 260,000 connections.
While the utility is a component unit of the City of El Paso, it operates under the Public Service Board, which is a nonpolitical expertise-based board that adopts an annual combined operating, capital, and debt service budget for EPWater with associated rates and fees for services. EPWater is an enterprise entity that does not collect ad valorem property taxes. The Public Service Board consists of the mayor of the City of El Paso and six board members, who are appointed by the city council and serve four-year terms.
EPWater’s FY 2025-26 combined operating, debt service, and capital budget for the Water, Wastewater and Reclaimed Water Utility totals $956 million. Revenue for FY 2024-25 is projected to be $400 million.
The Stormwater Utility’s operating, debt service, and capital budget is $101 million for Fiscal Year 2025-26. Revenue for FY 2024-25 is projected to be $40 million.
Located in the Chihuahuan Desert, El Paso has three water sources – the Rio Grande and two aquifers. EPWater was an early adopter of reclamation, conservation, and desalination. Today, EPWater is considered an international leader in these areas and is home to the largest inland desalination plant in the world.
Through diversification, EPWater is meeting the challenge of supplying water to its growing desert community. EPWater participates in regional water planning and has developed a 50-year water plan. Future water supplies will include expanded desalination, expanded aquifer storage and recharge, and advanced water purification and groundwater importation. With more than 1,200 budgeted employees, EPWater has fostered a culture that feels like a family and is built on values of service, innovation, safety, and teamwork. With a mission to provide sustainable high quality water services, EPWater’s vision is to remain the trusted authority by its customers and be recognized as an international model for water resource innovation.
Position Overview
Under administrative direction, the Chief Financial Officer (CFO) is responsible for the strategic oversight and coordination of financial and support service operations within the organization, including finance, budgeting, accounting, property and treasury management, cashiering, purchasing and contracts administration, and asset management. As a member of the agency’s executive team, the CFO will directly oversee three utility assistant CFOs, plus a staff of around 45. The department’s operating budget for FY 2025-26 is approximately $7.4 million.
The CFO will have the opportunity to shape EPWater’s financial trajectory over the next decade. Responsibilities include formulating a comprehensive financial plan, sourcing funding for capital projects, and overseeing the financial management of the Capital Improvement Program (CIP). This pivotal position requires expertise in financial management and strategic resource allocation to ensure long-term sustainability and growth. The CFO will drive the modernization and automation of systems, accounting processes, and purchasing and contracts protocols. Through strategic planning, the CFO will lead initiatives to optimize workflows and elevate technological capabilities, positioning the organization for continued success.
As a strategic leader, the CFO will prioritize talent development and succession planning to ensure a skilled and empowered workforce, fostering a culture of mentorship and continuous learning to cultivate an organization of resilience and excellence.
Key Responsibilities
- Comprehensive oversight of revenue and expenditures across EPWater’s utilities : the Water and Wastewater Utility and the Stormwater Utility.
- Rigorous analysis of revenue sources, operating expenses, rate studies, and capital expenditures to inform budgetary decisions aligned with both short- and long-term financial plan objectives.
- Formulation of recommendations in collaboration with relevant stakeholders and regulatory bodies.
- Development and implementation of annual operating, debt service, and capital budgets and comprehensive financial plans for the two utilities, in adherence with established policies and directives.
- Collaboration with internal stakeholders to identify and pursue grant funding opportunities and low-interest loans, necessitating effective engagement with governmental agencies and external partners.
- Oversight of numerous items and areas, including :
o Approval of disbursements; assurance of funding availability for contractual obligations.
o Annual Comprehensive Financial Report.
o Internal and external audit reports. Responsibility for responding to observations and recommendations from auditors.
o Cash management and investments in compliance with EPWater’s Investment Policy and Public Funds Investment Act of Texas.
o Issuance of debt to repay outstanding Extendable Commercial Paper notes, including meetings with Rating Agencies and meetings and presentation to the Public Service Board and City Council for approval of annual authorization for the issuance of debt.
o Financial reports and quarterly financial and investment reports to the Public Service Board.
Executive Skills and Requirements
Desired Personal Traits
Compensation
Competitive compensation with excellent benefits.
Salary : $101