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Job Details

Chief Financial Officer CFO

Company name
Red Zone Resources Inc.

$157,000.00 to $198,000.00 /ye

Fayetteville, NC

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**The applicant should have a minimum of ten (10) years progressively responsible management experience in a utility.**


The Chief Financial Officer (CFO) position has primary responsibility for all aspects of the financial operations. Duties include the development of a financial and operational strategy consistent with the long term strategic goals, developing metrics to measure that strategy, and the ongoing development and monitoring of control systems designed to preserve company assets and ensure compliance with all state and federal requirements. The CFO is responsible to ensure that reports accurate financial results in accordance with generally accepted accounting principles issued by the Financial Accounting Standards Board, the Governmental Accounting Standards Board, the Federal Energy Regulatory Commission, and other regulatory and advisory organizations and in accordance with financial management techniques and practices appropriate within the industry. This effort will be executed through, but not limited by, the following objectives:

Plan, develop, organize, implement, direct and evaluate the organization’s fiscal function and

Participate in the development of the organization’s plans and programs as a strategic

Evaluate and advise on the impact of long range planning, introduction of new programs/strategies and regulatory action.

Provide financial information and forecasts for planning and decision making by providing timely and accurate analysis of budgets, financial reports and financial trends in order to assist the CEO, the Board and other senior executives in performing their

Enhance and /or develop, implement and enforce policies and procedures of the organization by way of systems that will improve the overall operation and effectiveness of the organization.

Establish credibility throughout the organization and with the Board as an effective developer of solutions to business

Provide technical financial advice and knowledge to others within the financial

Continue improvement of the budgeting process through education of department managers on financial issues impacting department

Provide strategic financial input and leadership on decision making issues affecting the

Optimize the handling of bank and deposit relationships and initiate appropriate strategies to enhance cash position.

Develop a reliable cash flow projection process and reporting mechanism that includes minimum cash threshold to meet operating

Serve as an advisor from the financial perspective on any contracts into which the organization may

Evaluate the finance division structure and team plan for continual improvement of the efficiency and effectiveness of the group as well as provide individuals with professional and personal growth with emphasis on opportunities of

Maintain compliance with North Carolina General Statutes (specifically, but not limited to; GS 159 and 159-25, Duties of the Finance Officer) and Commission


Directly Supervises:

Controller, Director of Customer Services, Director of Financial Planning, Legal and Risk Management Director and Internal Auditor.


This position is responsible for directing the fiscal functions. This position directs the efforts of the management staff of Accounting, Payroll, Accounts Payable, Accounts Receivable, Delinquent Collections, Assessment Collections, Credit, Financing, Internal Auditing, Internal Controls, Customer Service, Call Center, Remittance Processing, Customer Payments, Financial Compliance, Investments, Debt Issuance, Bond Order Compliance, Bond & Credit Ratings, Electric, Water & Waste Water Rates, Financial Planning/Modeling, Budgeting, Budget Compliance, Business Assets, Capital Projects, Capital Project Funds, Construction Work in Progress, Risk Management, Procurement, Easements, Right-of-Ways, Environmental Compliance, and Claims and Insurance. Competencies include: Financial Management, Business Acumen, Communication Proficiency, Ethical Conduct, Leadership, Performance Management, Personal Effectiveness/Credibility, Problem Solving/Analysis, Strategic Thinking, and Technical Capacity.

The incumbent is responsible for consulting with staff for the development of plans for the attainment of the business objectives; the development of annual work plans, programs and related budgets; the requirements for maintaining staffing requirements and financial solidarity; the planning/development and maintenance of facility improvements; the assurance that an adequate utility supply is available/provided; the execution of Commission policy and the utilization of consultant expertise when necessary for consistent operation. The incumbent submits information to the CEO for use by the Board and is responsible for the formal presentation of said information to the Commission and others as designated by the CEO. Submits or revises policy and procedures for approval.

The incumbent will:

Exhibit strong organizational, communication and leadership capabilities within a collaborative work environment and together with all divisions develop financial solutions and alternatives to facilitate the meeting of strategic initiatives and provide for the safe, reliable and cost effective delivery of utility service to our

Review periodically, in consultation with staff, the functions, activities and staffing requirements; develop and recommend to the CEO the organizational structure best suited to carry out the Utility’s

Interview, select, hire, promote, demote, transfer, and recommend termination of employment to the CEO of division employees. Review, with right of disapproval, all personnel decisions made by the Finance Division staff for positions in their respective

Assure that staff is trained to meet the qualifications of their respective

Review periodically the performance of staff to encourage growth

Administer the organization policy and wage and salary program for the Finance Division; review, in consultation with staff, the salary

Assure that delegations of authority are understood and accepted by management

Assure that position descriptions are prepared for all positions in the division and are maintained

Conduct staff meetings, periodically, to improve communications, and coordination; resolve problem situations by developing a spirit of team work and assures that staff follows this practice

Direct the activities of the business; delegate authority to the department managers with full recognition that delegation of authority does not relieve overall responsibility; seek understanding and full acceptance

Assure that the policies and procedures of the PWC are equitably and effectively implemented by The incumbent will make every effort to settle questions and/or issues within established procedures.


(Direct and/or Delegated) Assures response to customer’s (internal and/or external) concerns/complaints in a professional/timely manner; communicates concerns/complaints to the CEO, when appropriate; maintains composure at all times; advises, counsels, and/or consults with staff on special problems;

Interprets policies, procedures, and objectives of the business;

Approves travel and other expenses of immediate staff in accordance with operational procedures;

Approves vacation and leave schedules for

Signs/Pre-audits all obligations and approves all disbursements per NCGS 159-28.

Assures preparation of the annual budget for the Division and recommends to the CEO for approval;

Reviews and stays informed of general system improvements and major construction;

Approves purchases of transportation equipment, tools, and supplies in accordance with operational policies and procedures;

Advises/assists the CEO in special/regular meetings by reporting on systems operations;

Assures employees are reviewed annually in accordance with PWC policies and procedures;

Attends and participates in National, State, and Regional meetings serving the business’ interest;

Holds regularly scheduled staff meetings to discuss problems, plans, and programs in an effort to build a cohesive team spirit;

Assigns members of the staff to represent the business at community, educational, and technical meetings;

Keep current with all financial reporting requirements and North Carolina laws and Statutes that impact the financial operations;

Reviews needs for and qualifications of consultants and makes recommendations to the CEO in accordance with budgetary requirements;

Assumes an appropriate role in community development activities and accepts speaking invitations;

Consults with attorneys on legal matters;

Participates in the development of, as well as the execution of, the strategic plan; assures that all aspects of the events are on schedule in accordance with the intent of the plan;

Plans/directs the sale of bonds, track bond fund activities and post issuance compliance;

Accepts other duties as necessitated by the demands of the business.


The applicant should have a bachelor’s degree in accounting or business administration from an accredited university and a minimum

of ten (10) years progressively responsible management experience in a utility. Preference will be given to candidates with an MBA in Finance and the Certified Public Accountant (CPA), Certified Management Accountant (CMA), Certified Public Finance Officer (CPFO) or equivalent certification.


Must possess/maintain a valid North Carolina Driver’s License and obtain a $100,000 Public Official Bond.

Job Type: Full-time

Salary: $157,000.00 to $198,000.00 /year

Company info

Red Zone Resources Inc.

Company Profile

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