Vice President of Finance

Piedmont Electric Cooperative•Hillsborough, NC

4d•Onsite

About The Position

Piedmont Electric Cooperative is a member-owned, not-for-profit organization serving more than 35,000 electric accounts across multiple counties in North Carolina. It emphasizes community engagement, economic development, youth education, energy advocacy, emergency preparedness, employee growth, inclusion, and equal employment opportunities based on merit and business needs. The Vice President of Finance manages the Cooperative’s financial operations and strategically plans for long-term financial viability, including financial planning and risk management. The role ensures financial systems operate effectively and comply with state and federal regulations, generally accepted accounting principles, organizational policies, and internal controls. As a member of the executive team, the VP of Finance oversees existing and new shared accounting services provided to other cooperatives.

Requirements

Bachelor’s degree in accounting, finance, business administration, or a similar area of study.
Ten years of experience in a senior-level accounting role.
At least five years of supervisory experience.
Advanced knowledge of financial analysis, budgeting, forecasting, financial modeling, and accounting principles.
Knowledge of RUS accounting and finance, preferably in the utility industry.
Advanced experience with Microsoft Excel and Power BI.
Proficiency with other Microsoft Office applications, including Outlook, Word, and PowerPoint.
Excellent presentation, written, and verbal communication skills.
Must work in person at the office; a remote or hybrid schedule is not optional.

Nice To Haves

Master’s degree strongly preferred.
Certified Public Accountant (CPA) license strongly preferred.
Knowledge of multi-state accounting and payroll law strongly preferred.

Responsibilities

Ensure the accuracy of financial reporting to management, the Board of Directors, lenders, and other financially interested parties.
Oversee daily financial activities, including accounts payable, accounts receivable, billing, disbursements, payroll, fixed asset accounting, general ledger accounting, work order processing, purchasing, materials management, and inventory control.
Manage the annual budgeting process and capital needs.
Prepare annual Form 7, EIA 861, ad valorem property tax reports, and other subsidiary monthly financial statements.
Plan financial resources for future grid reliability and growth.
Work with the VP of Engineering to prepare and oversee new RUS loan packages as needed.
Develop, forecast, and model data for rate schedule analysis and manage integration of rates and charges with financial forecasts and budgets.
Oversee FEMA reimbursement grant applications and evaluate and recommend process and procedure changes to ensure compliance with FEMA requirements.
Plan cash flow, debt-to-equity ratio, debt covenants, and RUS debt availability on a daily, monthly, and long-term basis; plan debt consolidation, refinancing, and diversification to reduce exposure to interest volatility.
Advise the General Manager and Board of Directors on debt refinancing, RUS loan draws, power-supply special projects, cost summarization, power-related billings, and other financial projects and strategies.
Research and implement accounting and tax planning for cooperative and not-for-profit classifications, staying current with legislation and legal precedents affecting financial operations.
Implement internal controls that meet audit requirements and reduce opportunities for theft or embezzlement of Cooperative funds.
Oversee the work order system to ensure compliance with the RUS Uniform System of Accounts.
Oversee the accounting team providing shared services to other cooperatives.
Perform other duties as required or assigned that are reasonably within the scope of the job classification.