Director Rates and Regulatory
Company: American Water
Location: Greenwood
Posted on: April 19, 2024
Job Description:
Share Our Purpose. Be Yourself. Feel Valued.
People are the heart of our business. As an American Water
employee, you will be offered a competitive salary and health
benefits package, along with opportunities to develop, grow, and
evolve your career. Our benefits packages focus on key areas such
as health & wellness, emotional & well-being, and savings for
current & future goals.
We are Beautifully Different . We strongly believe having diversity
across our company makes us more successful and helps us provide
essential services to our customers. We are stronger because we
embrace different ideas, viewpoints, experiences, and backgrounds.
American Water is the best choice for your next role! Click here
for more information on our inclusion, diversity, and equity
journey.
About American Water
American Water (NYSE: AWK) is the largest regulated water and
wastewater utility company in the United States. With a history
dating back to 1886, We Keep Life Flowing - by providing safe,
clean, reliable and affordable drinking water and wastewater
services to more than 14 million people across 14 regulated
jurisdictions and 18 military installations. American Water's 6,500
talented professionals leverage their significant expertise and the
company's national size and scale to achieve excellent outcomes for
the benefit of customers, employees, investors and other
stakeholders.
As one of the fastest growing utilities in the U.S., American Water
expects to invest $30 to $34 billion in infrastructure repairs and
replacement, system resiliency and regulated acquisitions over the
next 10 years. The company has a long-standing history of executing
its core operations, aligned with sustainable best practices,
through its commitments to safety, affordability, customer service,
protecting the environment, an inclusive workforce and
strengthening communities.
American Water has been recognized on the 2023 Bloomberg
Gender-Equality Indexfor the fifth consecutive year, ranked 18th on
Barron's 100 Most Sustainable U.S. Companies 2023 List, earned the
U.S. Department of Homeland Security SAFETY Act designation and
U.S. Environmental Protection Agency's WaterSense - Excellence
Award, among additional state, local and national recognitions.
For more information, visit amwater.com and join American Water on
LinkedIn , Facebook , Twitter and Instagram .
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.
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.
- 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%)
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.
- Strong ability to collaborate with others internally and
externally; effective leadership and communication skills; ability
to effectively engage and negotiate with multiple external parties
(including, Utility Commission Staff, Public Advocate and other
government stakeholders and multiple interveners); effective expert
witness in rate and other regulatory proceedings; ability to stay
calm under extreme pressure and case deadlines; ability to oversee
the planning and execution of multiple complex cases in different
regulatory jurisdictions at the same time.
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
Work Environment
- Standard office environment
Travel Requirements
- 40%
Other
Key Accountabilities (Continued)
- 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%)
Competencies
Drives Safety Culture
Drives Vision & Purpose
Strategic & Learning Agility
Political & Organizational Savvy
Builds Effective Teams & Network
Situational Adaptability
Persuades
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 they are an individual with
a disability, protected veteran or other status protected by
federal, state, and local laws.
Nearest Major Market: Indianapolis
Keywords: American Water, Greenwood , Director Rates and Regulatory, Executive , Greenwood, Indiana
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