Full/robust benefit package including medical, vision, dental and life insurance, vacation, 11 paid holidays, 401 K, pension, sick leave, short term and long-term disability, and education assistance.
Position Title: Chief Financial Officer Reports to: CEO FLSA: Exempt Department: Finance and Member Services
Date Updated: April 2023
Mission Statement: EnerStar Electric Cooperative exists to reliably distribute affordable electricity to its member-owners while upholding our values of integrity, accountability, and commitment to our community. ________________________________________ Position Purpose/Summary
The CFO will direct and oversee the financial and member services activities of the corporation, direct the preparation of current financial reports and summaries, and create forecasts predicting future growth. The position will also direct and oversee all responsibilities related to proper billing, collection and member service excellence.
Essential Duties and Responsibilities
The essential duties and responsibilities listed below are intended to describe the general content for the performance of this position. This is not intended to be an exhaustive list of essential duties, responsibilities, and requirements.
Financial Management and Reporting
• Carries out supervisory responsibilities in conformity with organization's policies and applicable laws. • Responsible for day-to-day cash management. Ensuring appropriate balances in bank accounts. Keeping borrowing within Cooperative goals. Timely payment of Cooperative obligations. Full transparency of activities. • Responsible for maintaining books and records in conformity with generally accepted accounting principles (GAAP) and other relevant rules and regulations. • Responsible for timely preparation and presentation of monthly and annual financial reports that are:
1) Accurate, using highest level of care, and 2) Meaningful to all users (management, board of directors, lenders, etc.) That is, such reports will likely need to change over time to adapt to changing needs.
• Responsible for leading effort for development of annual operating and capital budgets for board approval. Includes monthly monitoring of budget vs actual amounts. • Responsible for updating longer term financial forecasts as determined necessary by CFO, CEO and/or board of directors. This includes monitoring:
1) Projecting needs for long-term borrowing, and 2)Availability of funding for capital credit retirements.
• Responsible for all state and federal reporting. Includes quarterly payroll reporting, W2's, 1099's, 990, etc. • Responsible for coordinating routine and special audits. Includes annual financial audit. But also includes Federated annual audit, tax audits, etc.
Special Analysis and Reporting
• "Special Analysis and Reporting" are deemed appropriate and necessary when a decision is being made that will have a more than insignificant impact on the Cooperative either short-term or Long-term. In such events, the CFO is responsible for performing the "Special Analysis and Reporting" prior to the decision being made. The report is then submitted to the appropriate decision maker. • Responsible for continually assessing Cooperative's financial strengths and weaknesses. Also includes using ingenuity and creativity to identify opportunities for (financial-related) efficiency gains within organization. • Responsible for assessing financial impact on Cooperative from new activities, contracts, purchases, etc.
Promotion of Internal Controls
• Promotion internal controls; all areas. • Responsible for reporting to the board of directors that status on Cooperative internal controls from time to time, but at least annually. • Responsible for promoting solutions to resolve weaknesses in internal controls. • Responsible for reporting serious non-compliance issues. Includes:
1)Major purchases outside of budget and/or special board approval. 2)Failure to complete a "Special Analysis and Reporting" prior to a decision being made and commitment of Cooperative Resources.
Member Services Department Management
Electric Service Billing Oversight
• Responsible for staying current with new or changing laws, regulations, or technical developments, which could affect the Cooperative and communicates to proper management personnel. • Ensures that the Cooperative is compliant with federal, state, and local regulations. • Identifies the Cooperative polices and practices that deviate from any established federal, state, and local laws and makes recommendation to the CEO that would correct deficiencies. • Responsible for developing collection procedures which adhere to all internal and external regulations. Must provide training for collection personnel that will enhance the cooperatives image in the community as well as protect the revenue stream of the cooperative. • Must have a working knowledge of billing system as well as be aware of connectivity of billing and collections to other systems and departments of the Cooperative that will be affected by the activities of the department. • Coordinate with the Engineering and Operations department to ensure meter readings are obtained as necessary for proper billing. • Responsible for making sure all automated meter reading (AMR) systems are working properly and that all functions are in place for monitoring the systems. • Review service orders and billing emails, as appropriate, in order to research probable causes of any issues. • Ensure employees and their activities abide by and are conducted om accordance with EnerStar policies and applicable IBEW contracts. • Supervisor, monitor, review and appraise employee performance within his/her department, including correction and discipline(led by the CEO or COO) if necessary; understands job duties of all personnel in their department; supervises and recommends appropriate training courses for personnel; ensures that the skills needed to efficiently use EnerStar's information systems are understood and being utilized. As new information systems are used, ensure training is completed for each system or software application. • Directs and supervises activities in the Marketing and Communication Department in a manner which will produce accurate and effective results in providing services to members in accordance with established objectives, policies, and procedures. • Reviews and approves department invoices for payment.
• Oversees the Accounting and Member Services Department • Works with other department heads to monitor each department and make recommendations for change and improvement.
The requirements below are representative of the education, knowledge, skill and or ability required. Reasonable accommodations may be made to enable an individual to perform the essential function of the job.
Requirements and Competencies
• Bachelor's degree (B. A.) degree in accounting. At least 5-years of experience in a senior-level accounting role (i.e. CFO, Manager of Accounting, etc.). • Ability to work independently with little to no supervisor in a fast-paced ever-changing environment. • Professional demeanor, uses good judgement, and has the ability to work with all levels of employees, management and Board. • Discreet and can handle highly sensitive and confidential matters. • Possess excellent written and verbal communication skills. • Objective and open to the viewpoint of others, gives feedback and welcomes the same which contributes to a positive team environment and supports everyone efforts to succeed. • Must treat everyone with respect, keeps commitments, accepts responsibility for owns actions, inspires trust in others, works with integrity and upholds the organization's values.
• Ability to operate a PC/laptop/tablet. • Proficiency with Microsoft Office products • Ability to operate various in-house software programs that are specific to the job.
• Primarily sit at desk with some standing, kneeling, bending, reaching, twisting, and lifting typically 25 pounds and under. • Regularly use hands and fingers to control and feel to perform a variety of functions.
• Noise level is low. • Minimal exposure to outdoor elements. • Nearly all work is performed indoors.
• Ability to read and write • Ability to speak to and hear members
EnerStar Electric Cooperative is a not-for-profit rural electric distribution cooperative serving 5,300 household and business accounts within the east central Illinois counties of Edgar, Clark, Coles, Vermilion, and Douglas.
EnerStar territory covers 1,000 square miles and serves 3.5 members per mile of line-- a green prairie community in the heart of the Midwest. Cooperative headquarters are in Paris, Illinois, home to 9,000 residents, and offering all the advantages of a small town: tree-lined streets, steepled churches, a Carnegie library, movie theater, 18-hole golf course with clubhouse, many parks, local hospital/medical resources, and sleek fitness centers. Beautiful Twin Lakes Park offers area children a new splash park and all-abilities playground, and the town boasts a brand new high school campus with an amazing, Broadway-rivaling theater and fine arts center.
EnerStar territory also offers abundant outdoor recreational opportunities with two state parks, Lincoln Trail State Park, and Walnut Point State Park, and the busy Mill Creek Lake and Park with its famed Fay Pickering Memorial Mountain Bike and Hiking Trail. Spring mushroom hunting is a highly prized spor...t in our local area woods, and deer, turkey, and water fowl hunting rank right up there!
A short 15-minute drive east of EnerStar country lands you in Terre Haute, Indiana, with its 3 universities, museums, parks, theaters, shopping malls, and much more. In the opposite direction, a short drive west of EnerStar territory puts you in the heart of Amish country, where you can purchase fresh bread and newly churned butter and see self-sufficiency and hard work succeeding in a strong spiritual community. But if big city life beckons, the surrounding metro cities of Indianapolis, St Louis, and Chicago are all within a 1, 2, or 3-hour drive.
Company History: EnerStar was founded in 1938 through the Rural Electric Administration with the mission of bringing lights and electricity to farms and homesteads in Edgar County. The first lines on the system were energized in July of 1939.
Since that time, EnerStar has expanded its territory and has been an active participant in its rich, grounded, and tightly knit Midwestern farming community, supporting partnerships with local members, events, and area businesses. In a new and exciting effort to serve the members' energy needs and the growing demand for clean and renewable energy, EnerStar is offering participation in a community solar farm located at its headquarters.
EnerStar's 9-member board and 18 employees believe strongly in their mission statement: EnerStar exists to reliably distribute affordable electricity to its member-owners while upholding our values of integrity, accountability, and commitment to our community.