Northeastern REMC is seeking a highly skilled Chief Financial Officer to oversee and execute the utility’s critical financial functions. Northeastern REMC is an incredibly unique cooperative utility that offers an equally incredible CFO the opportunity to have tremendous impact. NREMC is a fully vertically integrated utility that purchases power on the open market, hedges its portfolio with several counterparties and maintains a significant asset base of behind the meter assets capable of supplying 38% of our own peak energy needs. We have a full compliment of in house legal, compliance, training, equipment servicing and advocacy services that are second to none and created additional revenue streams for the cooperative. The CFO provides critical insight to all of these areas, evaluates the risks and advises the CEO on the value of capital investments. The CFO will lead a high-performing finance and accounting team, ensure the accuracy and integrity of all financial operations, and maintain robust internal controls and compliance practices. This role requires exceptional technical proficiency in credit risk evaluation, commodity hedging, capital structure management, financial planning and analysis, and treasury and liquidity management. The successful candidate will be someone who excels at implementing complex financial processes, optimizing systems, and managing risk. This position plays a central role in sustaining the utility’s financial stability and supporting its mission to deliver safe, reliable, and affordable energy, while fostering a culture of accountability, collaboration, and continuous improvement.
CHIEF FINANCIAL OFFICER
Department: Finance and Accounting
Reports to: CEO
Position Supervises: Finance and Accounting department
POSITION SUMMARY
The CFO is a key member of the utility’s executive leadership team and is responsible for providing strategic and operational financial leadership to ensure the long-term financial integrity, stability, and performance of the utility. The CFO oversees all financial operations—including financial planning, treasury management, credit risk management, accounting, budgeting, and financial reporting—and ensures alignment between financial strategies and the utility’s mission to provide safe, reliable, and affordable electric service to its members.
The CFO acts as a strategic advisor to the CEO and Board of Directors, provides clear and actionable financial insights, and leads the finance and accounting teams in delivering high-quality financial services that support the utility’s operational and capital needs. This role also requires engagement with external partners including lenders, regulators, auditors, power suppliers, and industry organizations.
EDUCATION AND EXPERIENCE
Required:
- Bachelor’s degree in finance
- Master’s degree in finance or business administration.
- 7-10 years of experience with demonstrated responsibility progression including management; and
- M&A experience or direct interaction with the power markets.
SKILLS AND COMPETENCIES
- Deep knowledge of financial principles, accounting standards, and best practices for financial management.
- Proficiency in evaluating counterparty default risk and credit worthiness.
- Extensive knowledge of commodity hedging strategies and products.
- Understanding of regulatory frameworks, compliance requirements, and reporting obligations.
- Proficiency in developing and managing budgets, conducting financial forecasting, and performing variance analysis to support strategic decision-making.
- Expertise in analyzing costs, identifying cost-saving opportunities, and implementing cost control measures to improve operational efficiency.
- Familiarity with financial reporting standards, including Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS), as well as the ability to prepare accurate and timely financial statements.
- Understanding of risk assessment methodologies, risk mitigation strategies, and the ability to implement effective internal controls to safeguard the cooperative's financial assets.
- Experience with capital planning and investments including evaluating investment opportunities, conducting financial feasibility studies, and providing financial analysis to support capital planning decisions, such as infrastructure upgrades and expansion projects.
- Familiarity with debt financing options, capital structure optimization, and the ability to develop and maintain relationships with lenders and financial institutions.
- Proven ability to conduct financial analysis, interpret data, and provide insights to support strategic decision-making.
- Expertise in assessing and managing financial risks, implementing risk mitigation strategies, and ensuring compliance with regulatory requirements.
- Familiarity with financial software systems, data analytics tools, and enterprise resource planning (ERP) systems commonly used in the industry.
- Experience in leading and managing financial process improvements, system implementations, and organizational change initiatives.
- Strong analytical skills and the ability to identify financial challenges, develop innovative solutions, and implement effective problem-solving strategies.
- Demonstrate leadership skills and the aptitude for building and managing a high-performing team.
- Excellent verbal and written communication skills, with the ability to effectively communicate complex financial information to both financial and non-financial audiences.
- Ability to collaborate with executive leadership to develop and implement long-term financial strategies aligned with the cooperative's mission, vision, and objectives.
- Ability to thrive in a fast-paced and dynamic environment by adapting to changing circumstances and remaining resilient in the face of challenges.
- Ability to think strategically and contribute to the development of long-term financial plans and business strategies for the cooperative.
- High ethical standards, integrity, and the ability to uphold professional standards of conduct and confidentiality in financial matters.
- Commitment to staying updated on industry trends, financial regulations, and emerging best practices through ongoing professional development and learning opportunities
- Strong negotiation skills with the ability to build and maintain relationships with internal and external stakeholders, including lenders, regulators, and vendors. Act in a professional manner with all contacts.
- Strong interpersonal skills for effective collaboration and relationship-building. Displays a positive outlook and professional manner. Will offer assistance or support to co-workers whenever possible.
- Exhibits effective human relations allowing for the ability to work with different departments and creates an inclusive place for team involvement inside and outside their department. Works cooperatively and effectively in diverse teams with the ability to resolve conflicts if necessary.
JOB DUTIES & RESPONSIBILITIES
- Monthly Risk Analysis of cash flow at risk and stress testing of financial forecasts relative to financial goals.
- Continually determine and document unsecured credit limits and collateral thresholds for counterparties.
- Review and approve credit trading restrictions for counterparties
- Supervise the finance and accounting team to ensure all goals and objectives are met. Schedule efficient tasks to complete. Ensure all activities comply with NREMC policies and procedures. Coordinate schedules and approve time off requests when appropriate.
- Evaluate investment opportunities, conduct financial feasibility studies, and provide financial analysis to support capital planning decisions, such as infrastructure upgrades and expansion projects.
- Develop, maintain and implement the annual budget and financial projections. Evaluate and advise on the impact of long-range planning, introduction of new programs/strategies and regulatory action.
- Conduct performance reviews and job evaluations by using appropriate techniques to communicate performance expectations including disciplining and coaching.
- Provide leadership, guidance and motivation to staff. Advocate for their professional development by offering assistance, coaching and training.
- Prepare and analyze financial statements, budgets, and forecasts to provide accurate and timely financial information to support decision-making processes. Provide the information to the Leadership Team, CEO and Board of Directors when necessary.
- Act as hiring manager for the department by assisting with the interview and selection process of new candidates in conjunction with the VP of HR and Business Services.
- Manage debt financing options, optimize capital structure, negotiate with lenders, and maintain relationships with financial institutions.
- Monitor cash flow and liquidity, develop cash flow projections, and manage working capital to ensure sufficient funds for daily operations and capital investments.
- Stay updated on regulatory frameworks, compliance requirements, and reporting obligations applicable to electric distribution cooperatives, ensuring NREMC's compliance with applicable laws and regulations.
- Develop and implement long-term financial strategies aligned with NREMC's mission, vision, and objectives, in collaboration with executive leadership and the board of directors.
- Coordinate external audits, maintain effective internal controls, and ensure compliance with accounting standards and auditing procedures.
WORK ENVIRONMENT
- In-office position out of NREMC headquarters in Columbia City, IN.
- Occasional travel to conferences, continuing education, etc. may be required.
