The Virgin Islands Water and Power Authority (WAPA) is seeking qualified candidates for their Chief Financial Officer (CFO) position. The CFO directs the organization's financial planning and accounting practices as well as its relationship with lending institutions, shareholders, and the financial community by performing the following duties personally or through subordinate managers.
The Chief Financial Officer’s essential duties and responsibilities include:
Directing the Comptroller in providing procedures and systems necessary to maintain proper records and afford adequate accounting controls and services.
Appraises the organization's financial position and issues periodic financial and operating reports.
Presents financial and budgetary reports to the Executive Director and Governing Board as necessary.
Directs and coordinates the establishment of budget programs.
Analyzes, consolidates, and directs all cost accounting procedures together with other statistical and routine reports.
Directing and analyzing studies of general economic, business, and financial conditions and their impact on the organization's policies and operations.
The CFO represents the Authority in transactions with the trustees, fiscal agents and others in negotiating bond financing including preparation of supporting financial statements.
Determines how much money the Authority should have in demand accounts and invests money to obtain the best return for the Authority.
Makes financial and budgetary reports to the Executive Director and Governing Board as necessary.
Provides other services and duties as directed by the Executive Director.
Serves as Acting Executive Director as designated.
EDUCATION AND EXPERIENCE
Graduation from an accredited college or university with a Master’s Degree in business administration and eight to ten years of progressively responsible experience in finance and accounting work, five of which must have involved utility finance and accounting, of which three years must have been in a responsible administrative capacity. Must be a Certified Public Accountant (CPA) or a Certified Internal Auditor (CIA); preferably a CPA.
OTHER SKILLS AND ABILITIES
Qualified candidates must possess exemplary interpersonal skills that include professional, charismatic, oral and written communication talent. He or she must be consensus builders with the ability, credibility, and willingness to actively communicate, get involved with the community, and work with the Board, customers, bonding agencies, and the public.
Thorough knowledge of financial management and economic principles, practices and procedures and their application to the Authority’s financial and economic problems.
Considerable knowledge of budgeting and accounting principles and practices especially as they relate to utility activities.
Knowledge of the principles of supervision and modern business administration.
Ability to apply research methods and techniques to complex problems of public finance.
Ability to plan, outline and review the work of professional and administrative personnel engaged in financial and administrative activities.
Ability to present problems or results of studies and investigations effectively in written, oral or graphic form.
Ability to supervise and evaluate the activities of professional and technical problems.
For additional information or a position profile please contact:
Dave Little (303) 835-2369 firstname.lastname@example.org
Steve Dowdy (303) 816-0047 email@example.com
About Virgin Islands Water & Power Authority
The Virgin Islands Water and Power Authority is a public corporation and autonomous instrument of the Government of the Virgin Islands. WAPA provides service to about 55,000 electric and 12,000 water customers in the United States Virgin Islands (Virgin Islands), which include St. Thomas, St. John, and St. Croix, along with Hassel Island and Water Island located near the St. Thomas Harbor. Except for some commercial and industrial entities that produce a part or all of their own power, WAPA is the sole producer, distributor, and supplier of electric power and water for the Virgin Islands.
Created in 1964, WAPA acquired electric power generation and distribution facilities and water production facilities from the Virgin Islands Corporation, an instrumentality of the United States, in 1965. On January 1, 1988, the Government of the Virgin Islands transferred the ownership and operation of the water distribution system to WAPA.
WAPA’s electric and water rates are subject to regulation and approval by the Public Service Commission (PSC).
WAPA maintains separate accounts and financial statements for the electric and water systems. The systems are separately financed, althoug...h certain common facilities and costs necessary for the production of electricity and water, as well as for general administration, are shared by the two systems and allocated between them.
The Governing Board consists of nine members; six of whom are non-governmental members appointed by the Governor of the United States Virgin Islands with advice and consent of the Legislature of the United States Virgin Islands for three-year terms. The remaining three Board Members are governmental members appointed by the Governor from among high-ranking executive branch officials. Three of the non-governmental members must reside in the St. Thomas/St. John district, and three must reside in the St. Croix district.
As of July 2019, WAPA employs a staff 526 of which, 455 are assigned to the electric system, and 71 to the water system. 395 of the Authority’s employees are represented by three labor unions and 131 employees are not unionized. The Professional Technical Employee Union represents professional and technical employees. The Virgin Islands Workers Union represents supervisory employees. WAPA Employee’s Association (WEA) is the exclusive bargaining unit for WAPA’s non-supervisory or rank and file employees.
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