Director of Budget

Director of Budget Do you want to join a team that values Service, Collaboration and Excellence? Do you want to work with an organization that is committed to serving its customers and community by providing clean, reliable, and affordable energy to Long Island and the Rockaways? Is being part of a value-driven organization important to you? If yes, please check us out! Who We Are We are a team of motivated, engaged and exceptionally talented self-starters, willing to roll up our sleeves and do what is necessary to get the job done. If you are interested in joining this dynamic team and have a passion to learn, develop and want your experience to make an immediate impact, please apply. To find out more about LIPA's Budget and Finances, please visit the links below: 2024 Budget Report pdf What We Offer We offer an environment of continuous development and growth, with a thriving company culture, exceptional colleagues, and great benefits. Our benefit package includes: Hybrid work and flexible hours Excellent Medical insurance No Cost Dental and Vision insurance Paid holidays and generous leave time Professional development opportunities Educational assistance opportunities Multiple retirement plan options with company contribution Short-term and long-term disability coverage Flexible spending account Life Insurance 529 College Savings Program $300 Wellness Reimbursement What We Need A Bachelor's degree from an accredited college in economics, finance, accounting, business or public administration. Master's degree preferred Ten (10) years of progressive experience developing and managing the budget(s) of a large public or private entity Seven (7) years of Supervisory/Management experience Strong knowledge of financial forecasting, budgeting, and financial modeling techniques. Experience leading and building budgeting processes including corporate planning and budgeting; strategic, tactical, and operational planning methodologies. Knowledge of cost accounting. Exceptional leadership skills, with the ability to motivate and lead a team. What You'll Do At LIPA The Director of Budget assists in fulfilling LIPA's purpose of clean, reliable, and affordable electric service for our customers on Long Island and the Rockaways through the development of the LIPA Consolidated Budget and Financial Plan as well as monitoring of actual spending compared to the budget. The position plays a pivotal role in managing financial operations and ensuring fiscal responsibility within LIPA. This leadership position is responsible for overseeing all aspects of budgeting, financial planning, and analysis to support LIPA's strategic goals and efficient operations. Fostering a collaborative and productive work environment, the Director of Budget will lead a team of budget analysts and finance professionals, providing guidance, mentorship, and training. This position is responsible for participating in the development of: The company's strategic plan, aligning financial goals with corporate strategy Assisting in aligning financial goals with overall corporate strategy Communicating budgetary goals, financial performance, and strategic priorities to internal and external stakeholders Engaging with investors, regulatory bodies, and community groups as needed. Other Essential Job Functions include: Oversees development of LIPA's consolidated budget process which includes the Service Provider's operating and capital budget (and separately the annual budget for UDSA) and monitors impact to revenue requirement monitoring the necessity of a rate case. Leads development of comprehensive budgets that include operating expenses, capital expenditures, and revenue projections. Creates and manages the budgeting timeline and process. Works with Service Provider to ensure a thorough understanding of the budget funding levels, including an understanding of the operational work plans, regulatory, and contractual elements that support the funding levels. Oversees the development of financial models and forecasting tools to project long-term revenues, expenses, and capital requirements Collaborates with senior management to establish annual and long-term budgetary goals and objectives and ensures departmental budgets align with the overall organizational goals and strategic plan. Monitors budget performance throughout the fiscal year, identifying variances and implementing corrective actions as needed. Leads the review of budget requests and modifications and preparation for approval. Acts as a liaison between LIPA and Service Provider for budget and financial analyses and monitors spending versus budget to identify risks and opportunities leading to the variance analysis for the Finance and Audit Committee. Supports engineering and operations teams to set a financial plan for capital projects and monitor progress of work to spending levels. Collaborates with regulatory and legal teams to navigate rate approvals and compliance. Prepares and presents financial reports to senior management, the Board of Trustees, and regulatory agencies. Ensures accurate and timely financial reporting in compliance with accounting standards and regulatory requirements. Identifies financial risks and develops strategies to mitigate them. Supports risk management programs. Assists in development of financial contingency plans for emergencies, disasters, and unforeseen events. Stays informed about regulatory changes affecting the electric utility industry. Ensures that financial planning and reporting comply with industry-specific regulations and standards. Assists in preparing regulatory filings and participating in rate hearings and supports the development of rate cases as necessary. Identifies opportunities to reduce costs and improve operational efficiency. Supports business process enhancement initiatives, monitors and evaluates the performance of the budget team and business processes to streamline tasks, and initiates new or revised approaches as appropriate. Advises LIPA senior management on the Service Provider budget plan and/or any major issues related to the services agreement. Completes various financial analyses as required to support LIPA's decision-making process. Acts as liaison with the NYS Department of Public Service for the budget process, including continued monitoring throughout the year. Salary Range: $ 190,000-225,000 LIPA is an equal-opportunity employer.

Created: 2024-11-02