What are the responsibilities and job description for the Financial Analyst II-III position at lbwl?
Thank you for your interest in the BWL. We think you'll find it a rewarding and nurturing place to grow your career.
Starting Salary Range: $84,700.00 - $102,400.00Salary Range: FA II: $84,700 - $102,400 / FA III $94,000 - $114,700
Financial Analyst II
Position Summary:
A Financial Analyst II in the Finance & Planning department supports the company’s business units by continually providing the tools, knowledge, and thought leadership needed for consistent and effective decision making. As a valued partner and contributor in all strategic and everyday business decisions, a Financial Analyst II supports and leads duties centered around cash & investment management, bond issuance & compliance, financial planning & analysis (FP&A), revenue forecasting, and rate making.
Essential Functions:
The Finance & Planning department performs a wide range of duties as noted below. With some guidance required from supervision, a Financial Analyst II shares in performing most of the supporting duties of the department. A Financial Analyst II will be actively engaged in all areas below or may take a lead role in two or more areas below.
Cash & Investment Management
Bond Issuance & Compliance
Financial Planning & Analysis (FP&A)
Revenue Forecasting
Rate Making
Assist with developing presentations for various audiences, including investors, rating agencies, management, and the Board of Commissioners
Recommend and implement solutions to strengthen controls and incorporate best practices
Develop relevant reporting, including data preparation, report creation and quality control
Provide financial training to the organization
Establish metrics and key performance indicators
Expected to comply with all BWL policies and work rules
Other duties as required
Job Specifications:
Required:
This position requires knowledge equivalent to that which normally would be acquired through a Bachelor’s degree in Finance, Accounting or Business Administration; or equivalent combination of education and experience
This position requires a minimum of three years of professional experience in finance, accounting, or related field
Experience with corporate budget development
Experience with:
Corporate budget development
Corporate budget and forecast development, monthly financial reporting, and variance analysis
Cash management, bond issuance & compliance
Utility rate making and revenue development
Business process improvement, identify and implement new ideas to day-to-day operations
Familiarity with accounting and financial software systems
Knowledge of MS Office Suite, including Power BI, Outlook, Teams, advanced Excel and PowerPoint
Strong oral and written communication skills
Knowledge of GAAP and GASB
Understanding of the strategy, drivers, metrics, and data elements of the company
Ability to apply financial and economic concepts, including financial modeling, economic analysis, cash flow (DCF), contribution margin, balance sheet analysis, financial ratios, alignment to KPIs, NPV/IRR, cost of capital, market analysis, and strategic analysis
Preferred:
Master’s degree in finance, accounting, business administration, or related field
Understanding of the business, end-markets, competitive environment, industry peer group and general economic conditions that impact the company
Understanding of the strategy, drivers, metrics, and data elements of the company
Ability to apply financial and economic concepts, including financial modeling, economic analysis, cash flow (DCF), contribution margin, balance sheet analysis, financial ratios, alignment to KPIs, NPV/IRR, cost of capital, market analysis, and strategic analysis
Experience with SAP-ECC financial software and BPC budgeting software
Financial Analyst III
Position Summary:
The Financial Analyst III performs various operational tasks required of the Finance & Planning department. Duties include developing, coordinating complex analyses related to financial planning and analysis. Including cash management, investment management, rate making, capital project financing, benchmarking and policy development & bond compliance.
Essential Functions:
Coordinate and engage business units as a “business partner” to create detailed financial plans in support of the annual operating and capital budget & forecast process and to identify and mitigate forecasting variances
Influence allocation of financial resources that result in maximized value for customers and stakeholders through detailed business cases and due diligence
Prepare income statement, balance sheet, and cash flow annual budget, 6-year forecast, 20-year forecast and up-to-date projections
Execute the budget & forecast process, making enhancements as necessary, including administration of budgeting, and forecasting software
Support the strategic planning process and master planning initiatives
Manage and coordinate monthly/quarterly reporting, validate accuracy, and assist team in creation of analyses and presentations for executive leadership and Board of Commissioners
Understand and analyze monthly/quarterly financial and performance results (vs. forecast, prior year, budget), clearly articulate themes and performance drivers, and drive efforts to understand root causes of variances to make recommendations that enhance business performance
Provide data and analyses to support periodic (monthly, quarterly, year-end) financial and operational performance reviews with the business and finance teams, executive leadership, and the Board of Commissioner meetings
Monitor company performance statistics; report trends, variances, and issues; and take appropriate action including proactively notifying business partners or leadership
Gather data to track and review performance of strategic initiatives
Ensure reporting systems and source data are accurate and reconciled, including supporting accounting with variance and transaction analysis
Conduct ad-hoc financial analysis/special projects to assist management in understanding business performance
Coordinate with business units to identify and mitigate forecasting variances
All duties to support Cash & Investment Management, Bond Issuance & Compliance, Financial Planning and Analysis, Revenue Forecasting and Rate Making
Expected to comply with all BWL policies and work rules
Predictable and reliable attendance
Other duties as required
Job Specifications:
Required:
This position requires knowledge equivalent to that which normally would be acquired through a bachelor’s degree in finance, accounting or business administration; or equivalent combination of education and experience
This position requires a minimum of five (5) to seven (7) years of professional experience in finance, accounting, or related field
Understanding of treasury management, budgeting, and/or utility rate making principles
This position requires an understanding of balance sheets, income statements and capital structure
Familiarity with accounting and financial software systems
Experience with:
Corporate budget development
Corporate budget and forecast development, monthly financial reporting, and variance analysis
Cash management, bond issuance & compliance
Utility rate making and revenue development
Business process improvement, identify and implement new ideas to day-to-day operations
Ability to manipulate and manage large amounts of data
Ability to update, maintain, reconcile, and trouble shoot spreadsheets of financial data
Ability to work on multiple projects with minimal direction
Proficient with the use of MS Office Suite, including Power BI, Outlook, Teams advanced Excel and PowerPoint
Excellent oral and written communication skills
Preferred:
Master’s degree in finance, Accounting, Business Administration, or related field
SAP experience
Experience with construction-based capital budgeting and/or project portfolio management
Physical Requirements / Working Conditions:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Must be able to remain in a stationary position for the majority of the working day. The person in this position needs to move about inside the office environment. Constantly operates a computer and other office equipment. Ability to adjust focus, especially due to concentration on a computer screen. Must communicate frequently with other departments and employees both verbally and in writing. May need to lift and carry up to 30 pounds and/or position the body to reach items on the floor/ below the knee level or reach above head. On occasion, may need to use stairs.
Must be able to work with staff who may be in a remote work setting.
Works in temperature-controlled office environment, with occasional work in outdoor weather conditions, and in industrial environments.
The above statements are intended to describe the general nature and level of work being performed by employees assigned to this position. They are not to be construed as an exhaustive list of all duties, responsibilities and skills that may be required of the employee. Management reserves the right to add, remove, or otherwise alter these duties, responsibilities, and skills at any time.
Why Should You Apply?
Competitive wages, employee development, and opportunity for professional growth.
Robust time off benefits including vacation, free choice, sick leave, parental leave and 11 paid holidays.
Comprehensive benefits package offered including medical, prescription, dental, life insurance, long-term disability, employee assistance program.
Voluntary benefits including vision, supplemental and dependent life insurance, flexible spending, AFLAC options, LifeLock anti-theft, long term care, tuition reimbursement, and BWL's Home Purchase Plan – Forgivable $5,000 loan for purchase of a home in Lansing.
Retirement programs including 401(a) Defined Contribution Plan (DC) (100% company paid up to 9.5 % of base salary for BU positions and up to 13% of base salary for NBU positions), 457 Deferred Compensation matches up to $2,500 per year.
Post retirement benefits offered at the respective level of coverage, co-pays and health care premium, at the same level as active employees.
Two fitness centers located on site open 24/7, work life balance program, employee assistance program, free parking and much more!
About BWL:
The Board of Water & Light serves Lansing, Michigan, and surrounding areas with electricity, water, and steam. Lansing's city charter vests the BWL with full and exclusive management of water, steam, and electric services for or the city. The American Public Power Association has honored the Lansing Board of Water & Light as one of the country's best publicly-owned utilities.
The Location:
Lansing lies at the heart of the Great Lakes State and offers all the beauty and splendor of the four seasons. A haven for swimming, boating, fishing, snowmobiling, golf, and hunting, mid-Michigan is also just a couple hours from premier skiing and one of the most beautiful freshwater lakeshores in the world on our Lake Michigan Coast. Lansing itself is only minutes and miles away from two of the nation’s premier universities, Michigan State University and the University of Michigan, and boasts miles of walking, running, biking trails, Potter Park Zoo, professional sports, the arts, and fine dining.
THE BOARD OF WATER & LIGHT IS AN EQUAL OPPORTUNITY EMPLOYER
Salary : $84,700 - $114,700