Sr. Director Rates and Regulatory at American Water Works Service Company Inc in Mechanicsburg, Pennsylvania

Job Description:

Founded in 1886, American Water is the largest and most geographically diverse publicly traded U.S. water and wastewater utility company. With headquarters in Camden, NJ, the company employs over 6,800 dedicated professionals who provide regulated and market-based drinking water, wastewater and other related services to an estimated 15 million people in 46 states.  To learn more about American Water and additional career opportunities, visit www.amwater.com.

Primary Role

• Key member of State/Divisional senior leadership team. Oversees the planning and execution of state rate and regulatory strategy for all companies within the Division or the State with joint accountability for meeting business objectives.


• Ensures that rate cases, rate mechanism compliance filings and other key rate and regulatory matters are executed effectively to achieve business objectives of all of the companies within the Division.


• Serves as subject matter expert and business partner providing advice for the Division or State ensuring coordination of rates and regulatory strategy with state operations, functional groups related to business planning, accounting, finance, legal, business development activities and other regulatory matters.


• Leads or co-leads the regulatory approval process for acquisitions.


• Build and retain a diverse pipeline of talent to enable long-term high performance of the rates and regulatory function.


• Oversees complex rate and regulatory proceedings across a division or in a state.


• Position plays a critical role in activities and negotiations that impact the organizational units’ ability to meet its business objectives, including the ability of states to recover water and wastewater system investments and advance regulatory initiatives needed to continue to provide high quality service to our customers.


• This role will be required to work out of our Mechanicsburg, PA office.

Key Accountabilities

• Provides Rates and Regulatory leadership and drives results across the Division or State:


• Shapes, drives and influences rate case, clause mechanism, and regulatory strategy and policy in collaboration with Division, State, and functional leadership teams and other functions.


• Ensures coordination of Division or State rates and regulatory strategy with AW rates and regulatory policy objectives.


• Provides advice and expertise on a pro-active basis to executives, senior managers, and employees.


• Represents Divisional/State operations in rate and regulatory matters internally as well as to external regulators, other governmental stakeholders and industry groups throughout the Division/State.


• Develops and maintains a recognized presence in the industry and with regulators, staff and interveners.


• Contributes to the formulation of AW’s policies and procedures and ensures compliance with such policies and procedures.


• Provides advice and assistance in planning and reporting progress on all regulatory matters with an emphasis on regulatory revenue forecasting.


• Develop and coach employees to their fullest potential by ensuring that State/Divisional team members are trained and effective in leadership behaviors and effective communication skills and are trained in and understand complex rates and regulatory policies and processes in multiple regulatory jurisdictions. (20%)


• Works with the State Presidents, operating teams, and functional groups to develop State Rates and Regulatory strategies and plans.


• Provides the necessary reporting and special request material and data necessary to enable Division/State Presidents to manage all related rates and revenue activities.


• Works with division/state operations to achieve goals and business plan objectives. Provide business development support and regulatory strategy from planning through regulatory approval of business transactions.


• Provides the necessary regulatory support for business planning activities on all regulatory matters including base rate cases and mechanism forecasts. (15%)


• Maximizes value for Division or State. Drives value from the rate case process. Directs, plans and project manages the rate case process for the State/Division.


• Plan, manage and execute end to end rate case process including filing and prosecution, negotiating settlements, public hearings and evidentiary hearings working in collaboration with Division, State, and functional leadership teams.

Key Accountabilities - Continued

• Ensures that each case is thoroughly and completely prepared to avoid gaps between case outcomes and business plan requirements.


• Manages external consultants and collaborates with in-house counsel to ensure efficient execution of the case.


• Prepares filings for other key strategic issues supporting the ongoing development of the business.


• Provides expert testimony (written and oral) on items of particular complexity or sensitivity. Influence and guide budget and finance strategies to ensure company goals are achieved.


• Responsible to advise finance regarding appropriate mix of permanent capital (LTD and Common Equity) to achieve business objectives and ensure regulatory compliance. (35%)


• Ensures on-going compliance to maintain the Company's good standing.


• Identifies, documents and completes rate related regulatory requirements and liaises with other functions (operations, HR, etc.) to advise on other regulatory requirements.


• Establishes and meets targets consistent with good business practices for critical items not specified as a regulatory requirement. In alignment with State operations lead efforts to implement alternative regulatory mechanisms.


• In collaboration with State operations teams and other functions, ensures timely and accurate filings of all periodic rates related compliance filings, e.g., infrastructure surcharge mechanisms, expense adjustment mechanisms, new and revised rate schedules and tariff provisions, . etc.


• Ensures compliance with US GAAP and all applicable SOX requirements in accordance with the local rate making process.


• Key advisor/decision maker in determination of regulatory assets and liabilities. (20%)


• Guides and develops rate leaders that represent state operations on all regulatory matters.


• Coaches state rate leaders in enhancing expert witness skills in both written and oral testimony, negotiation skills, and oversees implementation of new rates.


• Provides guidance to assigned rate and regulatory services team on specific regulatory services requested. Serve as liaison to Rates and Regulatory Services team on all rate and regulatory matters in the State/Division. Reviews Rate and Regulatory Services team deliverables to ensure alignment with state regulatory strategies.


• Coordinate with Rate and Regulatory Services team and other functions and the state operations to ensure adequate resourcing for state rate and regulatory assignments. (10%)

Knowledge/Skills

• Recognized as an expert in utility rate and regulation; responsible to lead a team of fellow professionals to meet the objectives of the Division/State.


• Demonstrated ability to influence key stakeholders to drive constructive regulatory policies, procedures, and concepts, including adjustment mechanisms, forecast test years, consolidated pricing,


• Detailed understanding of state specific regulations and regulatory environment.


• Comprehensive and advanced knowledge of US GAAP, accounting requirements and practices of regulatory agencies, state utility rate and regulatory policies/practices and procedures, and technical expertise required in rates or accounting/finance.


• Understanding of state specific political and economic factors. Highly experienced in working with public utility commissions’ staff, consumer advocates, and governmental entities. Proficient at preparing written testimony and delivering oral testimony on complex rate cases issues in multiple jurisdictions. Experience covers multiple complex rate cases


• in multiple jurisdictions.


• Detailed understanding of automatic adjustment mechanisms policies, procedures, and concepts, including items such as surcharge mechanisms, automatic adjustment mechanisms, Balancing Accounts, conservation rates, decoupling, declining consumption, consolidated taxes and creative recovery on significant source of supply projects, to recover actual cost of service.


• Advanced knowledge of financial systems, frameworks and functionality.


• Has demonstrated the ability to influence key stakeholders and when required, lead or play key role in Company negotiations in base rate cases and other regulatory proceedings.

Experience/Education

• 10 years demonstrated results in driving and executing rate cases and regulatory filings in multiple jurisdictions in lead role on multiple rate cases.


• 10 years prior accounting/finance related job experience required, including experience with full cycle accounting processes.


• 5 years supervisory experience or equivalent required.


• Demonstrated experience in managing and coaching direct reports and establishing career development plans by identifying development goals, milestones and measures. .


• Experience in matrixed multi state utility strongly preferred.


• Bachelor’s Degree in Accounting/Finance or related field MBA in Accounting or Finance preferred


• Certifications & Licenses: Advance certification such as CPA, CMA or Engineering preferred

Travel Requirements

40%

Competencies

Prioritizes & Role Models Safety

Self-Awareness

Develops Talent

Plans, Aligns, & Directs

Drives Results

Decision Quality

Join American Water...We Keep Life Flowing™

American Water is firmly committed to Equal Employment Opportunity (EEO) and prohibits employment discrimination for employees and applicants based on his or her age, race, color, pregnancy, gender, gender identity, sexual orientation, national origin, religion, marital status, citizenship, or because he or she is an individual with a disability, protected veteran or other status protected by federal, state, and local laws.

 

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