Utilities Principal Finance Specialist

State of Connecticut - Office of Consumer Counsel; New Britain (CT); Hybrid; USD 110,000 - 150,000; Full time

Benefits offered by this job

Hybrid work schedule

13 paid holidays per year

Job summary

State of Connecticut - Office of Consumer Counsel in New Britain, CT is seeking a Utilities Principal Finance Specialist. The role focuses on financial analyses, rate of return, forecasting, and regulatory support across electric, gas, water utilities and related sectors.

You will lead complex studies and coordinate expert testimony before PURA, FERC, and other forums. The position is full-time, 40 hours per week, with a hybrid work arrangement.

Qualifications

• Eight years of professional experience in business, finance or quantitative analysis.
• Experience conducting complex financial analyses for regulated utilities preferred.
• Strong knowledge of finance, capital structure and rate of return concepts in a regulated environment.

Responsibilities

• Perform complex financial analyses and rate of return analyses for utilities.
• Evaluate financial viability and governance of utility companies.
• Prepare reports and testimony for regulatory proceedings and audits.

Skills

Public utilities finance

Regulatory finance experience

Financial analysis

Education

Bachelor's degree in finance/ accounting/ economics/ business

Master's degree preferred

Tools

Microsoft Office 365

Excel

Job description

Introduction

The State of Connecticut, Office of Consumer Counsel (OCC), has an exciting opportunity for a Utilities Principal Finance Specialist in our New Britain office, who will play a critical role in ensuring financial and operational effectiveness and transparency of Connecticut’s regulated utility companies in Connecticut.

WHAT'S IN IT FOR YOU

• Professional growth and development opportunities
• A healthy work/life balance!
• Thirteen (13) paid holidays each calendar year.

Position Highlights

The position will be located at Ten Franklin Square, New Britain, CT 016051, and offers hybrid (telework/office) work schedule. This is a full-time, 40 hours per week position, schedule is Monday-Friday on first shift.

This position will report to the Supervisor of Utility Financial Analysis and the Consumer Counsel.

The selected candidate will play a crucial role providing financial and technical expertise and will represent the OCC’s positions in a wide range of proceedings before the Public Utilities Regulatory Authority and the Federal Energy Regulatory Commission, and potentially other forums to conduct investigations and audits into the regulated electric, gas, and water utilities, telecommunications companies as well as third-party suppliers, and other energy providers.

The Utilities Principal Finance Specialist will support the work of OCC by performing complex tasks relating to utility economics and finance and for serving as a team leader for technical staff.

The Utilities Principal Finance Specialist independently performs the most complex duties relating to a full range of utility economics and financial issues such as conducting rate of return analyses, forecasting and economic analysis to evaluate multi-year rate plans;evaluation of financial operations and financial viability of utility companies through analysis of complex financial statements, studies and statistical exhibits; evaluations concerning transfer of public utility assets, mergers, acquisitions and other divestitures.

The Utilities Principal Finance Specialist should be comfortable developing and conducting cross‑examination of expert witnesses regarding complex financial, accounting and economic issues in rate cases and other proceedings.

The Utilities Principal Finance Specialist will participate in auditing and evaluating management audits of utilities for internal structures, corporate governance, affiliate transactions and operational compliance.

About Us

The OCC is an independent State agency that acts as the advocate for consumer interest in matters which may affect Connecticut consumers relating to electricity, natural gas, water, and telecommunications. The OCC works on cutting edge energy policy issues as the voice of the consumer. We are a statutory party to all proceedings before the Connecticut Public Utilities Regulatory Authority (PURA) and are authorized to appear and participate in any regulatory or judicial proceedings, federal or state, in which the interests of Connecticut utility consumers may be involved.

In addition to representing consumer interests before PURA and the courts, the OCC:

• Participates in proceedings before federal agencies, including the Federal Energy Regulatory Commission (FERC) and the Federal Communications Commission (FCC);
• Promotes the interests of consumers at the Connecticut legislature and in regional and national forums and conferences;
• Serves as a voting member of New England Power Pool (NEPOOL), as the representative of Connecticut ratepayers.
• Promotes and supports public transparency and understanding of complex regulatory and ratemaking concepts.

Our work covers a wide range of topics, including:

• Energy infrastructure (e.g., electric transmission lines, non‑wires alternatives);
• Renewable energy, distributed generation, and grid modernization;
• Energy efficiency and demand response;
• Wholesale and retail electric and gas markets and rates;
• Water rates, infrastructure, and resource planning;
• Utility service quality and storm response;
• Utility financial management and corporate structure; utility financing, credit ratings, and financial risk analyses;
• Electric vehicles and energy storage;
• Telecommunications service, service quality, and infrastructure, broadband access, and telecommunications policy.

Purpose of Job Class (Nature of Work)

In the Department of Energy and Environmental Protection, the Office of Consumer Counsel and the Public Utilities Regulatory Authority 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.

Examples of Duties

• 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;
• 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;
• public utilities performance in stock and bond markets and impacts of those markets on utilities;
• public utility corporate financial structure;
• rate of return and cost of capital analyses including computer applications;
• philosophies and practices concerned with corporate economics and finance in a regulated environment;
• financial aspects of company mergers and divestitures;
• Considerable interpersonal skills;
• oral and written communication 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

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.

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.

Preferred Qualifications

• 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 multi‑year rate plans, utility grid modernization initiatives, or deployment of clean and renewable energy programs.
• 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.

Special Requirements

Incumbents in this class may be required to travel.

Incumbents in this class may be required to possess and retain a valid Motor Vehicle Operator's license.

Conclusion

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.

Acknowledgement

As defined by Sec. 5‑196 of the Connecticut General Statutes, a job class is a position or group of positions that share general characteristics and are categorized under a single title for administrative purposes. As such, a job class is not meant to be all‑inclusive of every task and/or responsibility.