Arkansas Electric Cooperative Corporation (AECC) is an organization with a rich history and a bright future. AECC is a statewide wholesale supplier of electricity for Arkansas’ 17 distribution cooperatives who serve more than 520,000 accounts; approximately 1.3 million end-use consumers. This position also supports Arkansas Electric Cooperatives Inc. (AECI), and its subsidiaries, Electric Research and Manufacturing Cooperative (ERMCO) and Today’s Power, Inc. (TPI). AECI is the nation’s largest statewide electric cooperative service organization. AECI provides equipment sales, warehouse management, line and substation construction, right-of-way clearing and high-voltage testing for Arkansas and surrounding states. ERMCO is a top-three transformer manufacturer and TPI is a developer of utility-scale solar, battery storage, and electric vehicle infrastructure. Together, AECC and AECI plus its subsidiaries, are a two-billion-dollar enterprise.
The Vice President & Chief Financial Officer position reports directly to the President/CEO, serves on the Senior Staff and is a Corporate Officer position. The CFO will have primary day-to-day responsibility for planning, implementing, managing and controlling all financial-related activities for AECC and AECI and directly assists the President/CEO on all strategic and tactical matters as they relate to management. The CFO provides leadership for all financial-related matters, including complex financing transactions, business accounting and analytics, treasury services, cooperative and corporate taxation, financial forecasting, procurement, economic analysis, general liability insurance coverage and investment matters.
- Manage the Cooperatives’ capital structure for the maintenance and creation of long-term financial strength and to maximize value for Member-Owners.
- Develop long range financial management plan that supports integrated resource planning, utility rate design and business strategic planning.
- Present financial information and analysis to the Board to assist the Board with discharging its fiduciary duties.
- Develop and evaluate, long term debt, debt restructuring, and financing opportunities.
- Direct and monitor cooperative lending activities.
- Direct investment decisions and cash management in accordance with investment policies.
- Oversee and direct all financial and related operational reporting activities for the organization, with a strategic and long-term focus.
- Create and sustain strong internal controls and other ethical and financial integrity safeguards that will be necessary for ensuring positive outcomes resulting from audit review.
- Direct the preparation and filing of accurate and timely tax returns, projection of future liabilities and the resolution of tax issues
- Mentor and direct the team of direct reports building an effective team dynamic that works collaboratively and cohesively with other divisions and departments.
- Manage the procurement process in collaboration with other departments.
- Bachelor’s Degree in business, accounting, finance or related field.
- At least fifteen (15) years of progressively responsible experience in finance, tax, accounting, risk management, and financial/resource planning.
- At least ten (10) years in progressively responsible financial leadership roles in a management capacity (managing a team of direct reports), preferably in the electric utility industry.
- Working knowledge of regulated utility oversight, including public utility rate making, and complex business structures.
- Experience providing analysis and sound financial analytics to a Board of Directors
- Strong strategic acumen, high intellect, superior analytical/problem solving capability and ability to develop and articulate a vision.
- Specific strengths in analytical analysis, planning, forecasting, budgeting, and finance.
- A team player; effective collaboration skills; calm, confident and steady under pressure.
- Ability to operate in the regulated utility space as well as the entrepreneurial competitive business space to encompass the breadth and depth of the Arkansas Cooperative Enterprise
- CPA, MBA, JD or related specialty designation in business and/or finance matters.
- Specific experience working with lending institutions, investment banking firms and rating agencies, finance companies.
- Executive Compensation Package
- 2 Retirement Plans
- Health, Dental, and Vision Insurance
- 9 Paid holidays
- Educational assistance
- Paid time off accrual
- Short-term disability
- Long-term disability
- Free & confidential Employee Assistance Program
Should you elect to apply for this position, AECC/AECI will review your qualifications. If after reviewing the qualifications and experience of all applicants, your skills and credentials meet our needs, someone from our organization may contact you. Please be advised that the time required to complete the applicant review process typically takes between 30 and 90 days, but could extend beyond that. Once the position has been filled, all applicants will be notified via email.
Arkansas Electric Cooperative Corporation and Arkansas Electric Cooperatives, Inc. are Equal Opportunity Workplace and an Affirmative Action Employers. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, protected veteran status, age or any other protected category.