Principal Financial/Rate Analyst

City of Pasadena•Pasadena, CA

17h

About The Position

The City of Pasadena Water and Power Department is seeking a Principal Financial/Rate Analyst with deep budgeting expertise, exceptional analytical capability, and a strategic, big-picture mindset to lead advanced financial, budget, and utility rate analysis. This position requires a proven leader who can effectively manage and guide the department’s budgeting and utility rates functions, ensuring that financial decisions support long-term operational and capital needs. The successful candidate will lead the development, management, and implementation of utility budgets, rate structures, and cost-of-service studies to support the long-term financial sustainability of the department and its Capital Improvement Program (CIP). This position plays a central role in building and maintaining multi-year financial plans, evaluating the budgetary impacts of existing and proposed utility operations and capital projects and developing fiscally responsible alternatives to guide executive and policy-level decision-making. In addition, the incumbent will support both short- and long-term financial planning, conduct in-depth budget and rate analyses, and ensure that financial strategies align with departmental priorities, regulatory requirements, and community needs. Key responsibilities include conducting complex financial analyses, preparing technical studies and reports, and presenting findings and recommendations to a variety of audiences, including management, stakeholders, public officials, and community members. objectives.

Requirements

Graduation from an accredited college or university with a specialization in economics, accounting, finance, and/or business administration
Four (4) years of increasingly responsible experience in utility economics and financial planning, forecasting, and budgeting in a public utility organization or a similar agency.

Nice To Haves

Master’s degree in one of the aforementioned or similar disciplines is preferred
Advanced Microsoft Excel skills
Expertise in developing, maintaining, and analyzing complex financial models
Strategic, innovative, and team-oriented financial professional
Ability to balance detailed financial analysis with long-term planning
Ability to deliver creative, data-driven solutions that support utility operations, rate development, financial forecasting, and organizational objectives.

Responsibilities

Lead the annual budgeting cycle by coordinating timelines, advising on economic and cost drivers, gathering departmental inputs, and consolidating all financial plans into a comprehensive organizational budget.
Monitor and analyze budget performance, including monthly and quarterly variance reviews, spending trends, and financial risks.
Develop and maintain financial forecasts, updating projections based on actual results, operational changes, and market conditions.
Prepare clear, actionable financial reports for senior leadership, including dashboards, variance analyses, and scenario models.
Partner with department leaders to support financial planning, improve budget literacy, and ensure alignment with organizational goals.
Identify cost-saving opportunities and lead initiatives to optimize spending without compromising performance.
Ensure compliance with internal financial policies, accounting standards, and regulatory requirements.
Manage budgeting tools and systems, ensuring data accuracy, process efficiency, and continuous improvement.
Support audits by providing documentation, explaining variances, and maintaining audit-ready financial records.
Contribute to strategic planning through financial modeling, business case evaluation, and long-term scenario analysis.
Participate in preparing and implementing short and long-term financial plans for the Water and Power Department
Participate in functions concerning public utility fiscal policy, financial planning, project funding and investments, bond financing, budgeting, accounting, auditing, and other financial and administrative studies.
Prepare and present highly technical and financial studies and analyses to a broad spectrum of audiences.
Conduct assigned department business with appropriate government entities, including federal, state, and local agencies.
May represent the Manager of Utility Financial Services and the Assistant General Manager upon request; may supervise, plan, direct, or organize staff activities.
Interact with City staff, financial consultants and auditors, Municipal Service Committee, legal counsel, and brokers; and perform other related work as assigned.