Utilities Principal Finance Specialist
New Britain, CTDate Opened
9/2/2022 12:00:00 AMSalary
$99,524 - $129,107/yearJob Type
Open to the PublicClose Date
9/30/2022 11:59:00 PM
The State of Connecticut, Public Utilities Regulatory Authority (PURA) has an exciting opportunity for a Utilities Principal Finance Specialist with the Clean and Affordable Energy (CAE) unit located in New Britain.
PURA is a quasi-judicial agency that implements the State's energy, climate, and infrastructure policies through its regulation of Connecticut's investor-owned utilities and its jurisdiction over competitive energy and telecommunications markets. We are statutorily-charged with ensuring the State's electric, natural gas, water, and telecommunications public service companies provide safe, clean, reliable, and affordable utility service and infrastructure to the public. PURA's mission is essential to advancing the State's energy, economic, and environmental goals and is critical to maintaining public health and a robust economy.
PURA interprets and applies statutes and regulations governing all aspects of Connecticut's utility sector.
Among other things, PURA:
- Sets the rates charged by investor-owned utilities,
- Advances the modernization of the electric distribution system,
- Implements federal requirements for natural gas pipeline safety,
- Ensures adequate water system infrastructure investments,
- Reviews mergers and acquisitions,
- Provides education and outreach for consumers, and
- Regulates the expansion of telecommunications infrastructure.
The CAE unit is tasked with overseeing Connecticut's statutory and public policy programs that seek to increase the deployment of clean and renewable energy and improve customer affordability, along with associated utility regulatory ratemaking processes and mechanisms. Further, CAE staff support the ongoing efforts of PURA's Equitable Modern Grid (EMG) Framework to modernize utility regulation, enhance customer access to clean and affordable service, and improve public utility performance in support of the State's ambitious greenhouse gas emission targets and renewable energy deployment goals.
For example, the CAE unit is responsible for overseeing the following utility-administered programs:
- Electric Vehicle Charging Program
- Energy Storage Solutions Program
- Residential Renewable Energy Solutions Program
- Non-Residential Renewable Energy Solutions Program
- Shared Clean Energy Facility Program
- Utility bill assistance programs
In addition, CAE staff may assist other units with PURA's performance-based regulation framework, utility rate cases, and other matters. Most work will focus on the electric utility industry, but may also include other utilities, such as gas and water.
Responsibilities of this position include:
- Conducting technical research and analysis on topics assigned to the CAE unit including, but not limited to, renewable energy, affordability, grid modernization, and rate mechanisms, among others;
- Acting as project manager for discrete agency investigations, as assigned;
- Developing procedural schedules for all dockets under their purview in order to ensure that the Authority's objectives for each proceeding are achieved and all standard practices are followed;
- Assisting in the preparation of draft decisions; and
- Performing other related tasks as deemed necessary.
This is a full time position (40 hours) Monday-Friday located in our New Britain office. Teleworking opportunities are available.
What we can offer you
We take part in a competitive benefits plan which includes:
In addition, the State puts an emphasis on:
- Generous paid time off (vacation, sick and personal)
- Excellent health and dental coverage
- Retirement plans and more!
- Providing limitless opportunities;
- Hiring for diversity and fresh perspectives;
- Performing meaningful work; and
- Encouraging a healthy work life balance
• In order to be considered for this job opening, you must meet the Minimum Qualifications as listed on this job opening. You must specify your qualifications on your application.
• The minimum experience and training requirements must be met by the close date on the job opening, unless otherwise specified.
• Ensure that your application is complete and detailed before submitting it. In order to comply with Public Act 21-69, the State of Connecticut is no longer asking for resumes during the initial application process. You will not be able to make revisions once your application is submitted into the JobAps system.
• All application materials must be received by the recruiting agency by the time specified on the job opening for the position for which you are applying. Late applications may not be submitted and will not be considered. Exceptions are rare and limited to documented events that incapacitate a candidate during the entire duration of the job posting time period. It is the candidate's obligation and responsibility to request an exception and provide a legally recognized justification to accommodate such exception. Requests should be made to DAS.SHRM@ct.gov.
Important Information After You Apply:
• This posting may require completion of additional referral questions (RQs). You can access these RQs via an email that will be sent to you after the posting's closing date or by visiting your JobAps Personal Status Board (Certification Questionnaires section). Your responses to these RQs must be submitted by the questionnaire's expiration date. Please regularly check your email and JobAps Personal Status Board for notifications. Please check your SPAM and/or Junk folders on a daily basis in the event an email provider places auto-notification emails in a user's spam.
• Although applicants will receive correspondence via email, as a backup they are also encouraged to sign on to their Personal Status Board on a daily basis to monitor their status, view all emailed notices and complete tasks required in the recruitment process.
• Note: At any point during the recruitment process, applicants may be required to submit additional documentation which support their qualification(s) for this position. These documents may include: a cover letter, resume, performance reviews, attendance records, supervisory references, licensure, etc., at the discretion of the hiring agency.
• The immediate vacancy is listed above, however, applications to this recruitment may be used for future vacancies in this job class.
PURPOSE OF JOB CLASS (NATURE OF WORK)
In the Department of Energy and Environmental Protection or Office of Consumer Counsel this class is accountable for performing the most complex tasks relating to utility economics and finance and for serving as a team leader for professional technical staff. Performs a full range of tasks in the planning and conducting of financial and economic analyses and studies, analyses of cost of capital, and recommending rates of return on investments.
EXAMPLES OF DUTIES
Independently performs the most complex duties relating to a full range of utility economics and financial issues such as conducting rate of return analyses including specific costs of all components of capital; evaluates financial operations and financial viability of utility companies; oversees or performs analyses and evaluations of complex financial statements, studies and statistical exhibits; develops and conducts cross-examination of expert witnesses regarding complex financial, accounting and economic issues in rate cases and other proceedings; exercises independent judgment as to propriety of proposed issues of securities by utilities in light of current security markets and accepted utility capital structures; reviews past or prospective capital operations of utilities including financial aspects of construction projects; examines and audits books and records of utilities subject to regulation and recommends appropriate revisions and/or new financial accounting methods; develops evaluations concerning transfer of public utility assets, mergers, acquisitions and other divestitures; performs special studies including those regarding generic financial concerns, utility corporate, organizational and financial structure and conditions; designs and performs special financial analyses on an as needed basis; prepares and presents comprehensive reports and testimony on an array of financial matters; prepares interrogatories; serves as an expert finance witness in court and regulatory proceedings; directs development of computerized financial models; prepares and presents policy recommendations regarding utility economic and financial matters; develops and recommends final departmental orders on utility economics and finance matters; trains finance specialists and other professional or technical staff of lower grade; may assist in the preparation of briefs and draft decisions; performs related duties as required.
KNOWLEDGE, SKILL AND ABILITY
Considerable knowledge of principles and practices of finance especially as related to operation and capitalization of public utilities; considerable knowledge of public utilities performance in stock and bond markets and impacts of those markets on utilities; considerable knowledge of public utility corporate financial structure; considerable knowledge of rate of return and cost of capital analyses including computer applications; considerable knowledge of philosophies and practices concerned with corporate economics and finance in a regulated environment; considerable knowledge of financial aspects of company mergers and divestitures; considerable oral and written communication skills; considerable interpersonal skills; considerable ability to deal effectively with others under circumstances often adversarial; supervisory ability.
MINIMUM QUALIFICATIONS - GENERAL EXPERIENCE
Eight (8) years of professional experience in business, finance or quantitative analysis.
MINIMUM QUALIFICATIONS - SPECIAL EXPERIENCE
Two (2) years of the General Experience must have involved complex financial analysis.
Note: Complex financial analysis is interpreted as performing comprehensive, detailed and difficult financial studies resulting in reports and recommendations to management.
MINIMUM QUALIFICATIONS - SUBSTITUTIONS ALLOWED
1. College training may be substituted for the General Experience on the basis of fifteen (15) semester hours equalling one-half (1/2) year of experience to a maximum of four (4) years for a Bachelor's degree.
2. A Master's degree in finance, economics, accounting, business, mathematics, computer science or other closely related field may be substituted for one (1) additional year of the General Experience.
- A bachelor's degree in finance, accounting, economics, business, engineering, public utility regulation, or a related field; and
- An advanced degree in finance, accounting, economics, business, renewable energy, public utility regulation, or a related field.
- Experience working in utility regulation, utility finance, or utility accounting.
- Experience working on utility grid modernization initiatives, deployment of clean and renewable energy programs, or climate change policy.
- Experience writing technical reports, white papers, position papers, policy papers, and/or academic articles for a general audience that make findings supported by documented evidence.
- Experience conducting quantitative analysis related to utility economics/finance and synthesizing results.
- Experience with project management, working on more than two (2) projects simultaneously, while adhering to deadlines.
- Experience using advanced features of Microsoft Office 365 applications.
1. Incumbents in this class may be required to travel.
2. Incumbents in this class may be required to possess and retain a valid Motor Vehicle Operator's license.
AN AFFIRMATIVE ACTION/EQUAL OPPORTUNITY EMPLOYER
The State of Connecticut is an equal opportunity/affirmative action employer and strongly encourages the applications of women, minorities, and persons with disabilities.