Mountain Electric Cooperative seeks a qualified, engaged professional to become the next Director of Finance due to an upcoming vacancy.
About Mountain Electric Cooperative
MEC is a member-owned, progressive cooperative serving 36,223 electric members in Johnson, Unicoi, Carter counties located in Tennessee and Avery Burke, McDowell, and Watauga counties in North Carolina. MEC has offices in Mountain City and Roan Mountain Tennessee, and Newland, North Carolina. MEC is preparing for growth with new planned subdivisions.
MEC was incorporated in 1941. It is a TVA power distributor. MEC has 700 square miles of service area and 2,300 miles of line. MEC employs 89 professionals with annual electric revenue of $69 million.
Essential Job Functions
Under the direction of the GM, the Director of Finance is responsible for planning, developing, and administering the activities of the Finance department for MEC. Duties include maintaining financial records, accounting services, budgeting, financial planning, regulatory reporting, cash management, inventory control, forecasting and billing functions.
Assists the GM with strategic and tactical planning and in evaluating, formulating, and implementing programs, policies, and methods to promote and facilitate the effective and efficient operations of the Cooperative toward achieving its mission and goals.
Desired Attributes & Competencies
- Takes initiative/Results driven
- Critical Thinking and Decision Making
- Accountable and Dependable
- Solid Financial Understanding of the electric utility industry accounting, FERC, RUS, and (GAAP) accounting
- Ethics, Integrity, and Courage
- Commitment to Cooperative Values
- Collaborative, interpersonal communication skills
- Flexible with ability to multitask and meet timelines
- Analytical and computational skills with attention to details
- Relationship, Team Building and Employee Development with Diversity and Inclusion
Experience & Expertise
- Bachelor’s degree in finance/accounting is required. MBA or similar advanced degree and/or CPA certification are desired.
- Thorough familiarity with financial management, outside auditor support, strategic planning, competitive assessment, cash management, budgeting and financial accounting software is required.
- At least five years’ experience as a financial/accountant professional, preferably with an electric cooperative or CPA firm with utility focus, is preferred.
- At least five years’ experience supervising or leading a department or group is preferred. Experience as a senior staff member or Director is desirable.
- Broadband/Fiber experience is desired.
- RUS accounting experience, familiarity with CFC and CoBank is a plus.
Our Location
MEC’s main office is in Mountain City, Tennessee, with a population of 2,415, it is located in Northeast Tennessee.
Our Benefits
MEC employees enjoy an excellent benefit package including a 401(k) and health insurance plus a competitive salary commensurate with qualifications.
Due to the work requirements, the Director of Finance has a staff they are responsible for overseeing and training.
How to Apply
If interested, please download the application form at www.mountainelectric.com and include the following: 1) Cover letter, 2) resume and 3) contact information (including email) for 3 professional references. Applications must be received by May 24, 2024. If you have any questions, please contact Dianne Cress 423-727-1809 or dcress@mountainelectric.com .
All replies are confidential.
Mountain Electric Cooperative is an EEO employer. Race, color, religion, sex, age, national origin, disability, military, veteran status, gender identity, sexual orientation, genetic information, or any other applicable status protected by Federal, State or Local law.
JOB SUMMARY:
The Director of Finance is responsible for the financial performance of the Cooperative and its subsidiaries in accordance with generally accepted accounting practices (GAAP), FERC, and RUS guidelines.
ESSENTIAL JOB FUNCTIONS:
- Responsible for the overall financial management of the Cooperative. Included in that general responsibility are specific areas such as cash management, rate setting, financial forecasting, financial statements and reporting, establishment and monitoring of internal and external financial controls, budgeting, financial and fiscal policy recommendations, commercial insurance coverage, debt & equity management including subsidiary consolidation and accounting, and accounting policies and procedures.
- Responsible for establishing strategies and allocating resources to achieve departmental objectives in an annual plan.
- Staff liaison with finance committee of the Board of Directors.
- Responsible for Risk Management and making recommendations to the General Manager and Board of Directors to safeguard the financial viability of the Cooperative.
- Ensures that an audit trail is properly followed in all financial and accounting records, that books and records are kept in good order, and that the Annual Report is prepared for presentation to the Board of Directors.
- Conducts and/or coordinates with all audit firms the internal and external audits of the Cooperative. Assures implementation of corrective actions in a timely manner.
- Ensures all financial affairs are handled in accordance with RUS, FERC, TVA, and GAAP.
- Reviews and coordinates economic data and financial requests from other departments and subsidiaries.
- Keep informed on NRECA, TECA & TVA activities and participate in programs as directed by the GM.
- Supervises two employees; reviews and evaluates performance of subordinates and recommends wage and salary adjustments.
- Responsible for the administration of all contracts, agreements, rules, regulations, and statutes that directly pertain to the Cooperatives financial health.
QUALIFICATIONS AND EXPERIENCE:
- Bachelor’s degree in finance or accounting is required, CPA, MBA, and/or master’s degree in accounting or finance preferred.
- Requires minimum of five years management experience in accounting (RUS preferred) or finance, including: strategic planning; rate studies and application; budget forecasting, and management; cash management; risk management; financial forecasting, planning, and reporting; accounting; billing and collections; and tax planning and compliance.
- A working knowledge of utility/financial auditing procedures is preferred.
- Requires excellent verbal/written communication skills and the ability to balance multiple priorities in a fast-paced environment.
- Demonstrated knowledge of MS Office products is required.
- Must represent the co-op with external organizations, agencies, members, and power supplier in a progressive, positive, and professional manner.
- Expert planning and organizational skills; strong analytical and problem-solving skills required.
- Experience in managing, leading and training staff.
Applications must be turned in by May 24,2024