Director, Rates & Regulatory

American Water • Lexington, KY

16h • Hybrid

About The Position

Key member of State senior leadership team. Oversees the planning and execution of state rate and regulatory strategy with joint accountability for meeting business objectives. Ensures that rate cases, rate mechanism compliance filings and other key rate and regulatory matters are executed effectively to achieve business objectives of the State. Serves as subject matter expert and business partner providing advice for the State ensuring coordination of rates and regulatory strategy with state operations, functional groups related to business planning, accounting, finance, legal, business development activities and other regulatory matters. Leads or co-leads the regulatory approval process for acquisitions. Build and retain a diverse pipeline of talent to enable long-term high performance of the rates and regulatory function. Oversees complex rate and regulatory proceedings across a state. Position plays a critical role in activities and negotiations that impact the organizational units’ ability to meet its business objectives, including the ability of the state to recover water and wastewater system investments and advance regulatory initiatives needed to continue to provide high quality service to our customers.

Requirements

• Recognized as an expert in utility rate and regulation; responsible to lead a team of fellow professionals to meet the objectives of the State.
• Demonstrated ability to influence key stakeholders to drive constructive regulatory policies, procedures, and concepts, including adjustment mechanisms, forecast test years, consolidated pricing,
• Detailed understanding of state specific regulations and regulatory environment.
• Comprehensive and advanced knowledge of US GAAP, accounting requirements and practices of regulatory agencies, state utility rate and regulatory policies/practices and procedures, and technical expertise required in rates or accounting/finance.
• Understanding of state specific political and economic factors.
• Highly experienced in working with public utility commissions’ staff, consumer advocates, and governmental entities.
• Proficient at preparing written testimony and delivering oral testimony on complex rate cases issues in multiple jurisdictions.
• Experience covers multiple complex rate cases in multiple jurisdictions.
• Detailed understanding of automatic adjustment mechanisms policies, procedures, and concepts, including items such as surcharge mechanisms, automatic adjustment mechanisms, Balancing Accounts, conservation rates, decoupling, declining consumption, consolidated taxes and creative recovery on significant source of supply projects, to recover actual cost of service.
• Advanced knowledge of financial systems, frameworks and functionality.
• Has demonstrated the ability to influence key stakeholders and when required, lead or play key role in Company negotiations in base rate cases and other regulatory proceedings.
• Bachelor’s Degree in Accounting/Finance or related field
• 10 years demonstrated results in driving and executing rate cases and regulatory filings in multiple jurisdictions in lead role on multiple rate cases.
• 10 years prior accounting/finance related job experience required, including experience with full cycle accounting processes.
• 5 years supervisory experience or equivalent required.
• Demonstrated experience in managing and coaching direct reports and establishing career development plans by identifying development goals, milestones and measures.
• Strong ability to collaborate with others internally and externally; effective leadership and communication skills; ability to effectively engage and negotiate with multiple external parties (including, Utility Commission Staff, Public Advocate and other government stakeholders and multiple interveners); effective expert witness in rate and other regulatory proceedings; ability to stay calm under extreme pressure and case deadlines; ability to oversee the planning and execution of multiple complex cases simultaneously.

Nice To Haves

• MBA in Accounting or Finance preferred
• Advance certification such as CPA, CMA or Engineering preferred
• Experience in matrixed multi state utility strongly preferred

Responsibilities

• Shapes, drives and influences rate case, clause mechanism, and regulatory strategy and policy in collaboration with State,and functional leadership teams and other functions.
• Ensures coordination of State rates and regulatory strategy with AW rates and regulatory policy objectives.
• Provides advice and expertise on a pro-active basis to executives, senior managers, and employees.
• Represents State operations in rate and regulatory matters internally as well as to external regulators, other governmental stakeholders and industry groups throughout the State.
• Develops and maintains a recognized presence in the industry and with regulators, staff and interveners.
• Contributes to the formulation of AW’s policies and procedures and ensures compliance with such policies and procedures.
• Provides advice and assistance in planning and reporting progress on all regulatory matters with an emphasis on regulatory revenue forecasting.
• Develop and coach employees to their fullest potential by ensuring that State team members are trained and effective in leadership behaviors and effective communication skills and are trained in and understand complex rates and regulatory policies and processes in multiple regulatory jurisdictions.
• Works with the State Presidents, operating teams, and functional groups to develop State Rates and Regulatory strategies and plans.
• Provides the necessary reporting and special request material and data necessary to enable State Presidents to manage all related rates and revenue activities.
• Works with state operations to achieve goals and business plan objectives.
• Provide business development support and regulatory strategy from planning through regulatory approval of business transactions.
• Provides the necessary regulatory support for business planning activities on all regulatory matters including base rate cases and mechanism forecasts.
• Maximizes value for State.
• Drives value from the rate case process.
• Directs, plans and project manages the rate case process for the State.
• Plan, manage and execute end to end rate case process including filing and prosecution, negotiating settlements, public hearings and evidentiary hearings working in collaboration with State and functional leadership teams.
• Ensures that each case is thoroughly and completely prepared to avoid gaps between case outcomes and business plan requirements.
• Manages external consultants and collaborates with in-house counsel to ensure efficient execution of the case.
• Prepares filings for other key strategic issues supporting the on- going development of the business.
• Provides expert testimony (written and oral) on items of particular complexity or sensitivity.
• Influence and guide budget and finance strategies to ensure company goals are achieved.
• Responsible to advise finance regarding appropriate mix of permanent capital (LTD and Common Equity) to achieve business objectives and ensure regulatory compliance.
• Identifies, documents and completes rate related regulatory requirements and liaises with other functions (operations, HR, etc.) to advise on other regulatory requirement.
• Establishes and meets targets consistent with good business practices for critical items not specified as a regulatory requirement.
• In alignment with State operations lead efforts to implement alternative regulatory mechanisms.
• Ensures timely and accurate filings of all periodic rates related compliance filings, e.g., infrastructure surcharge mechanisms, expense adjustment mechanisms, new and revised rate schedules and tariff provisions, . etc.
• Ensures compliance with US GAAP and all applicable SOX requirements in accordance with the local rate making process.
• Key advisor/decision maker in determination of regulatory assets and liabilities.
• Guides and develops rate leaders that represent state operations on all regulatory matters.
• Coaches regulatory team members in enhancing expert witness skills in both written and oral testimony, negotiation skills, and oversees implementation of new rates.
• Provides guidance to assigned rate and regulatory services team on specific regulatory services requested.
• Serve as liaison to Rates and Regulatory Services team on all rate and regulatory matters in the State.
• Reviews Rate and Regulatory Services team deliverables to ensure alignment with state regulatory strategies.
• Collaborates with government affairs to identify and support legislation that addresses regulatory challenges.
• Develops and maintains relationships with key staff members of our regulators and other stakeholders.
• Coordinate with Rate and Regulatory Services team and other functions and the state operations to ensure adequate resourcing for state rate and regulatory assignments.

Benefits

• competitive salary
• health benefits package
• opportunities to develop, grow, and evolve your career
• benefits packages focus on key areas such as health & wellness, emotional & well-being, and savings for current & future goals

What This Job Offers

• Job Type: Full-time
• Career Level: Senior