Chief Financial Officer

JOB SUMMARY:

The Chief Financial Officer (CFO) directs and oversees the financial activities of the consolidated group. This position is responsible for maintaining the books and records of the company, the preparation of monthly consolidated financial statements and financial analysis, the preparation and updating of operating and capital budgets. The CFO is also the chief tax officer and is responsible for all federal, state, and local income tax filings, all property tax, sales and use tax, and payroll tax filings. 

The CFO is also involved in all major regulatory filings in New York and in Pennsylvania. This person drafts testimony for rate cases and other filings, responds to interrogatories, participates in settlement negotiations, and advises the Company on the impact of new rate orders on company profitability. 

In addition, the Chief Financial Officer is responsible for all insurance matters of the Company and is the Company’s treasurer. 

ESSENTIAL FUNCTIONS: 

• Oversees maintenance of financial books and records, preparation of monthly, quarterly, annual financial statements.
• Ensures timely submission to lenders of financial debt covenant calculations.
• Timely files all required income tax, sales and use tax, property tax, gross receipts tax, and payroll tax returns.
• Oversees the preparation of monthly GAC calculations.
• Prepares monthly financial reports for submission to the Company’s private equity owner.
• Oversees annual reports to regulators.
• Reviews performance of pension plan asset manager.
• Oversees annual financial statement audit.
• Reviews and approves payments of accounts payable to all vendors.
• Reviews and timely files Forms 5500 for the Company’s pension plan and its Sec 401(k) plan.
• Reports quarterly to the audit committee of the board of directors.
• Reports quarterly to the board of directors
• Keeps current on tax developments and makes recommendations of tax planning ideas.
• Maintains business relationships with senior bankers at relevant banking institutions. 
• Negotiates and concludes long term financing arrangements for capital projects for Corning, Pike, and Leatherstocking.
• Manages company cash for our holding company (CEC) and for all three operating companies.
• Make certain that CEC has adequate funds available to pay quarterly dividends to ACP Crotona Corporation.
• Monitors company lines of credit to make sure each company has adequate funds to timely pay operating expenses. 
• Prepares and updates annual cash flow projections for senior management.
• Ensures that all required employer contributions have been made to the Company’s defined benefit plan, and to the Company’s Sec 401(k) plan.
• Oversees the preparation and filing of Forms 5500s.
• Works with our insurance representative to obtain the most efficient and cost competitive insurance products in the marketplace.
• Attends all Presidio (Captive insurance company) board meetings.
• Timely responds to all requests for data and information requested by our insurance agents.
• Ensures that our company is adequately represented at all Presidio sponsored safety training seminars.
• Prepare budgets for annual insurance costs and monitor actual vs. budgeted insurance costs.
• Carries out supervisory responsibilities, including overseeing the daily workflow of the department; providing constructive and timely performance evaluations; and managing discipline of employees in accordance with company policy.
• Completes special projects and other duties as assigned.

WORK ENVIRONMENT: 

• This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, and filing cabinets.
• This job requires long periods of sitting, manual dexterity, and repetitive finger motion.
• Hearing and vision are required for this position.
• Ability to lift up to 10 pounds.

KNOWLEDGE, SKILLS, AND ABILITIES:

• Understands accounting principles and procedures as they relate to the financial statement of a utility company, including general and subsidiary ledgers, and has complete familiarity with the financing and operation of a utility company.
• Technical ability to analyze, design, and create various statistical reports as directed.
• Capability to produce correspondence, reports, user-friendly spreadsheets, databases, and other documents that are accurate and clearly understood.
• Effective communication skills to ensure information is clearly understood by recipients.
• Strong sense of urgency, personal initiative, and drive to work effectively under extreme deadlines and changing priorities without close supervision.
• Strong understanding of financial and accounting standards and regulations.
• Strong organizational and time management skills required.
• Excellent written and oral communication skills required.
• Must be familiar with budgeting, financial accounting, and tax concepts.

EDUCATION AND EXPERIENCE:

• Bachelor’s degree in finance, accounting, economics, or business administration required; MBA or a master's degree in finance preferred. 
• Professional certifications such as CPA (Certified Public Accountant) preferred. 
• 15 to 20 years of experience in finance, accounting, or related field, preferably in the utility industry, required.