Director Financial Planning

Location: White Plains, NY, US

Summary

 

  • The Director Financial Planning oversees the Financial Planning and Financial Analysis groups in the preparation of NYPA’s short-term and intermediate financial forecasts for use in establishing near-term corporate budgets and aiding senior and executive management in their decision making processes concerning cost-benefit assessments, and economic and competitive analyses.
  • The Director Financial Planning directs the Financial Planning group in the successful and timely preparation of the department’s primary annual deliverables, which include the 2801 Budget Report, the Preliminary Four Year Budget and Financial Plan and the Approved Four Year Budget and Financial Plan in accordance with New York State rules and regulations.   The completion of these reports includes production of income statement and cash forecasts, documentation of assumptions, and several filings to the Public Authorities Reporting Information System (PARIS)  in compliance with regulations of the Office of the State Comptroller.  Additionally, the Director oversees the monthly forecast update of the current year’s budget and future years’ forecasts.  In conjunction with all of these milestones, the Director collaborates with other members of the team and the VP of Finance on the preparation of presentation material for executive management and the Trustees, telling the financial “story” of the organization such that high-level, actionable information is communicated.
  • The Director provides oversight to the Finance group in the development and periodic updates of NYPA’s Long Range Financial Plan, which is a cornerstone in the identification and evaluation of NYPA’s strategic goals and enterprise-wide risks.  Additionally this role develops and monitors financial metrics for NYPA and for each of NYPA’s generating facilities/market areas and for its transmission facilities. 
  • In addition to Financial Planning, the Director oversees the Financial Analysis group, which performs ongoing and ad-hoc analysis for the organization to assess future business opportunities, perform cost-benefit analysis of proposed and ongoing NYPA programs, and to provide guidance regarding financial decisions and allocation of financial resources.  The Financial Analysis group is also responsible for proactive outreach to other departments throughout NYPA to offer analytical services and financial training, in order to ensure consistent financial analysis best practices across all business lines.

Responsibilities

  • Provide oversight in the analysis, monitoring and compilation of the monthly forecast update, annual budgets and business plans as well as provide updates and regular progress reports, and conduct analysis on major projects or other potential enterprise activities.
  • For each periodic forecast update, explain variances via graphs, charts, reports, and presentations to advise Senior and Executive Management of current financial forecasts and any key takeaways or action items.
  • Oversee and review budget forecasts for NYPA, and net revenue estimates for individual projects and customer groupings.
  • Ensure that all forecasting models are accurate and updated to keep pace with changing market conditions, NYPA policies and procedures, current legislation, current business activities, and the needs of internal/external stakeholders.
  • Provide direction to Manager Financial Planning, Manager Financial Analysis, and Financial Analysts in all forecasting and analysis matters including during the Annual Operating Forecast process and in producing NYPA’s net income and cash-flow projections.  This includes collecting and analyzing the data, updating the financial model, analyzing the results and preparing reports and an annual presentation to the Authority’s Trustees.  
  • Ensure compliance with New York State regulations by developing, filing and posting the Preliminary and Final Four Year Budget and Financial Plan for NYS Comptroller’s Office to satisfy reporting requirements and regulations. 
  • Upon request, oversee the development of NYPA’s Long Range Financial Plan that provides Senior Management with information concerning the long-term profitability of NYPA and its individual facilities as well as providing relevant and up-to-date cash metrics such as projected cash flows and debt service ratios.
  • Develop and monitor a set of financial metrics for NYPA consistent with the view taken by each of the Rating Agencies in their assessment of NYPA.  Support Treasury in preparation for Rating Agency presentations.
  • Support Vice President – Financial Planning & budgets in miscellaneous assignments, as required (e.g., Analysis of financial savings/benefits to NYPA customers versus competitive alternatives, etc.).
  • Support other NYPA business units with requested analyses.
  • Oversee day to day management of staff. Provide coaching, feedback and support for each individual's development.  Review performance of staff; establish development plans, work performance goals and review individual goals each appraisal period.  Recommend staff additions, promotions, salary increases, and workforce projections.
  • Develop and manage a cost effective department budget.

Knowledge, Skills and Abilities

  • Strong leadership, planning and organizational skills to manage a complex process involving many different departments within NYPA as well as customers, their consultants, and related contracts.
  • Strong managerial skills to manage a staff of professionals and the contractual requirements for each customer segment in a constant evolving marketplace.
  • Excellent communications and interpersonal skills to interact comfortably with all levels of NYPA staff and outside stakeholders.
  • High degree of analytical/problem solving capability to analyze large volumes of data, interpret historical trends, identify key strategic issues and problems and recommend solutions in a very timely manner commensurate with the constant evolving energy market.
  • Excellent statistical and quantitative analysis skills with the use of spreadsheets and databases to develop past and future financial trends. 
  • Ability to analyze financial, marketing and operational data and make recommendations to establish strategic benchmarks and goals.
  • In-depth knowledge of and strong background in Economics, Finance, or Accounting.
  • In-depth knowledge of the electric/utility industry and NYISO market strongly, preferred.
  • Understanding of the oil and gas markets, fuel hedging structures and power hedging structures, preferred.
  • Knowledge of financial and bond markets is preferred.
  • Knowledge of more than one of the following areas:  marketing plans, budget process, rate design, contract interpretations, investment / cash management policies and procedures, accounting policy, or plant operations.
  • Advanced PC-based skills including Microsoft Office Suite; General knowledge of SAP, preferred.
  • Ability to ensure the promptness of departmental deliverables and ensure that financial models are kept current, procedures are maintained and followed, and data is properly and sufficiently analyzed prior to report distribution. 
  • Ability to take a proactive approach to identify opportunities to improve efficiency and increase the automation of work processes and computer model systems.
  • Ability to organize and prioritize job assignments, and coordinate with Vice President and other group members. 
  • Strong understanding of NYPA’s overall operations is preferred.
  • Excellent oral and written communication skills, with the ability to clearly explain and present concepts in multiple areas of expertise to peers and management.
  • Strong willingness to adapt to change, with the ability to research and learn new areas as the business needs change.
  • Ability to assist others in achievement of group goals and foster an environment of cooperation among group members.

Education, Experience and Certifications

  • Bachelor’s degree in Finance, Accounting, Economics, Business, Mathematics, or related discipline. 
  • An advanced degree is Finance or Accounting is preferred.
  • Minimum of 9 years of broad experience in a Finance, Accounting, Statistics, Risk Management or relative financial role.

Physical Requirements

N/A

 

The New York Power Authority is an Equal Opportunity Employer                       


Nearest Major Market: White Plains
Nearest Secondary Market: New York City