Deputy Chief Financial Officer

Company Description

East Central Oklahoma Electric Cooperative is a member-owned and non-profit rural electric cooperative in Oklahoma, serving a 3,000 square mile area across seven counties. Based in Okmulgee, OK, the Cooperative provides reliable electric services powered by partnerships with KAMO Power and Western Farmers Electric. The organization is overned by a seven-member elected board. The organization is committed to serving its members responsibly and with a focus on equity, as outlined in its nondiscrimination statement.

REQUIREMENTS

Reporting directly to the Vice President of Finance and Accounting. This position plays a pivotal leadership role within this fast-moving, multifaceted organization. Deputy CFO oversees the functional areas of accounting, leading a talented team of professionals. Beyond operational oversight, the CFO is a key strategic partner responsible for advancing the Coops mission, supporting long term organizational goals, and ensuring financial excellence across the cooperative and its subsidiaries. This role offers the rare opportunity to help shape the future of an innovative cooperative at the intersection of electric, transmission, broadband, and solar industries.

Accounting Duties and Responsibilities:

• Oversee and direct members of the accounting department and provides leadership for the actions of accounting personnel in completing assigned tasks.
• Ensure complete and accurate financial records and reports exist in accordance with established Cooperative Accounting Policies and Procedures, in accordance with RUS and FERC Uniform System of Accounts and Generally Accepted Accounting Principles that contribute to efficient management of the Cooperative.
• Responsible for the internal control environment of the accounting department and identifying opportunities for process improvement.
• Coordinate, oversee, and manage the annual audit process with external auditors.
• Work closely with VP Finance & Accounting, CEO and leadership management team in the development of business plans and programs as a strategic partner, particularly from the perspective of the cooperative’s finances.
• Maintain positive professional relationships with customers, lenders, auditors, developers, contractors, community and professional organizations, and government agencies.
• Direct the maintenance of the general ledger, accounting files, and related subsidiaries.
• Prepare the annual budget, financial plan, and financial forecasts for the Cooperative. Responsible for analysis of financial and operational results each month.
• Responsible for the preparation of monthly financial and statistical reports for the Board and management. Present financial results at monthly board meetings.
• Responsible for financial reporting and preparation of related reports for Federal, State, and Local agencies, such as FERC, IRS, State Department of Taxation, etc. Responsible for keeping the company within compliance with the various agencies.
• Responsible for cash management for the Cooperative. Monitor cash flow daily and make funds transfers as appropriate.
• Communicate with financial institutions concerning debt activities. Oversee all loan portfolios. Secure workers comp insurance to ensure the Cooperative is adequately protected against loss.
• Oversee the allocation and retirement of patronage capital credits in accordance with Bylaws and Board policies.
• Advise departments as to proper accounting procedures and safeguarding of assets.
• Work with CEO in measuring and monitoring key performance indicators, driving performance for all departments and businesses.
• Assist the CEO and other leadership staff in redesigning, modifying, and establishing rates.
• Participate in the development of the Cooperative’s strategic plan.

THE SUCCESSFUL CANDIDATE

The ideal candidate will offer ten or more years of proven ability and progressive utility financial management experience, preferably in a cooperative environment. East Central is most focused on candidates who possess broad knowledge and expertise in FERC accounting, budgeting, banking activities with RUS, CFC and CoBank, taxes, utilization of NISC software tools, and other financial matters.

Additional experience providing warehouse and procurement support services is beneficial. A bachelor’s degree in accounting is preferred, as is an advanced degree in business administration. Candidates who possess an equivalent combination of education and experience may be considered.

Of paramount importance is leadership capabilities with outstanding interpersonal and communication skills. Candidates must be of the highest integrity with the ability to build credibility, trust, and support with the Board of Directors, the CEO, peers, employees, and the membership. The candidate must possess proven managerial skills with the ability to hire, develop, and delegate to employees, maintaining a sense of teamwork and common purpose, while ensuring strong financial performance. He or she must be willing to collaborate with other managers to achieve strategic objectives and must be willing to engage in hands-on activities as a “working manager.” A strong commitment to customer service is essential, as is support of the seven cooperative principles.

COMPENSATION, BENEFITS, AND RELOCATION

The compensation package is competitive and dependent upon qualifications and experience. East Central participates in the defined- benefit National Rural Electric Cooperative Association (NRECA) Retirement Security Plan (RS Plan) and the defined-contribution 401(k) plan. East Central provides post-retirement medical and life benefits for eligible employees.