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Long Island Power Authority logo
Company Name:
Approximate Salary:
130000.00 Per Year
Location:
Uniondale, New York
Country:
United States
Industry:
Accounting/Finance
Position type:
Full Time
Experience level:
5+ years
Education level:
Bachelor's Degree

Manager of Financial Oversight

 

The Long Island Power Authority (“LIPA”) is seeking a candidate for the position of Manager of Financial Oversight.

 

Reporting to the Director of Financial Oversight this person is responsible for managing the technical components of the budget process, including compiling the financial data used to develop and monitor the annual LIPA Consolidated budget.  The Consolidated budget includes the LIPA Operating and Capital Budgets, the Utility Debt Securitization Authority budget and LIPA’s Service Provider PSEG LI’s Operating and Capital Budgets. 

 

Specific tasks and responsibilities include:

 

Preparing and Monitoring LIPA Budgets

 

  • Oversee Budget Analyst in developing multi-year internal budgets and projections. 
  • Oversee the development and maintenance of monthly variance reports on LIPA departmental spending. 
  • Support the Director of Financial Oversight with annual budget preparation.
  • Compile, consolidate, and analyze departmental submissions and follow-up as necessary to ensure adherence to deadlines.

 

Oversight of Service Provider

 

Compile data to support and assist in the analysis of PSEG LI’s operating and capital budgets to identify trends or issues that may indicate performance outside of prescribed targets. Advise supervisors of such matters, with a focus on:

 

  • Ensuring monthly reports due from PSEG LI are received timely and are prepared accurately.
  • Track sales and revenue analysis and monitor against budgets and forecast to identify trends.
  • Track Power Supply Charges on a Monthly and YTD basis and monitor against budgets and forecast to identify trends.
  • Regulatory account activity—monitor activity to enable understanding the impact of such items on current and future rates.
  •  Monitor capital project spending and assist the Finance Department in the evaluation of capital spending for bond financing purposes.
  • Responsible for constant communication with PSEG LI staff to ensure a thorough understanding of monthly and YTD variances and to ensure timely responses to inquiries.
  • Required to gain a working knowledge of various PSEG LI costs accounting routines, including overhead assessments such as A&G, Benefits, facilities, store rooms and others as they are presented.
  • Analyze and report on PSEG LI affiliate charges.
  • Ensure PSEG LI’s budgets are accurate and support the Long Island Power Authority’s mission.

 

Other Duties

 

  • Maintain awareness of and perform comparisons to LIPA’s peers among investor-owned and public power utilities on operating and financial practices and policies to achieve an independent perspective on the efficiency and cost effectiveness of LIPA and PSEG LI’s performance.
  • Participate in public power, utility industry, and accounting and financial associations to maintain LIPA’s awareness of developments and trends that can be incorporated into LIPA’s oversight of the financial operations of PSEG LI, including maintaining relationships with peers that can provide experience, insight and additional perspectives on issues that may affect LIPA and PSEG LI.
  • Work with Vice President of Financial Oversight to fulfill annual departmental goals.
  • Support regulatory activities/rate case requirements including work paper preparation and required schedules.
  • Provide budget assistance to all areas within LIPA and to liaison with PSEG LI personnel on budget treatment of proposed changes.

 

Knowledge and Experience Required:

 

  • Bachelor’s degree in analytic discipline such as Accounting, Finance, Economics, Business, Engineering, Mathematics, or similar fields (CPA/MPA/MBA preferred).
  • A minimum of five years’ experience in a related field developing budgets and performing analysis. (Utility finance or similar industry experience is desirable with a focus on budgeting and in providing operational support to business areas.)
  • Strong knowledge of financial and cost accounting methods and principles.
  • Good written and oral communication skills plus the ability to prepare and make presentations (power point) to management.
  • Position requires flexibility, creative thinking and self-motivation.
  • Strong Power Point, Excel and financial skills required, with a high level of attention to detail and accuracy in one’s work.

 

LIPA offers a competitive salary and benefits package commensurate with experience and responsibilities.

 

LIPA is an equal opportunity employer.

Applying:
Interested parties should submit their cover letter and resume to Barbara Ann Dillon, Director of Human Resources and Administration, at financialoversightjob@lipower.org

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