Director of Financial Services

Position Summary

The Director of Financial Services will serve as a strategic leader for New Braunfels Utilities (“NBU”), responsible for safeguarding the organization’s fiscal integrity, ensuring energy portfolio compliance and risk mitigation, and securing long-term financial resilience. The role specifically oversees the Accounting, Energy Risk and Settlements, and Purchasing departments, ensuring alignment of these functions to NBU’s mission of delivering safe, reliable, and affordable utility services to the community.

Core Competencies

• Financial Strategy Development
• Quantitative Risk Analysis
• Complex Contract Valuation
• Regulatory Compliance under ERCOT, PUCT, FERC, and GASB frameworks
• Data Analytics
• Financial Systems Integration (ERP/ETRMS Implementations)
• Internal Controls

Strategic Focus

Prioritize the overall needs of the organization and customers from a fiscal perspective and link them to NBU's strategic plan. Set strategic direction on financial, contract, and energy risk tolerance for the organization as a whole and put mitigation measures in place to protect NBU. Utilize critical decision-making at all times, including the ability to process relevant information and commit to a definitive course of action. Remain knowledgeable regarding ever-changing regulatory landscapes by attending relevant training/webinars and participating in associations/committees that ultimately impact rulemaking (GFOA/ERCOT/TPPA/GCPA).

Essential Duties & Responsibilities

• Protect NBU through prudent financial controls and policies. Adapt policies as needed to provide tools required to navigate changing markets and provide stability.
• Seek out personal and professional growth opportunities. Look for innovative solutions in order to protect customers from price volatility.
• Attend all departmental meetings necessary to support consistency and leadership on a continuing basis. Provide ongoing reporting and education to the CFO on complex subjects.
• Manage the Accounting, Energy Risk and Settlements, and Purchasing departments. Supervise, lead, and mentor the manager and staff.
• Maintain professional and technical knowledge by attending educational workshops, reviewing professional publications, establishing personal networks, benchmarking state-of-the-art practices and participating in professional societies within the industry.

Management/Supervision Responsibilities

• Provide cohesive direction, leadership, guidance, counseling, and mentoring to the manager and staff. Encourage employee engagement by building strong trusting relationships and implementing company initiatives around the employee experience.
• Create motivational goals with direct reports and staff. Monitor and evaluate the performance of personnel to ensure that established NBU procedures and policies are enforced, achievements are recognized, performance standards are met, and professional growth opportunities are made available.
• Identify and offer training opportunities for staff to create an engaged and knowledgeable workforce and foster continuous growth and development. Identify key issues for escalation and make appropriate decisions within authority limits otherwise.
• Articulate complex issues in a clear, concise manner with a high level of confidence. Effectively communicate, both up and down the organization, in order to create a fully functional team.
• Navigate frequently changing priorities and balance multiple projects at a time. Demonstrate attention to detail in all tasks and maintain high level of organization. Manage challenges and conflicts successfully, yielding a productive, positive, and wholesome work environment.
• Achieve financial objectives by reviewing and monitoring annual O&M, capital, and personnel budgets; authorizing departmental expenditures; analyzing variances; and initiating corrective actions (if necessary).

Accounting

• Oversee all accounting operations, including but not limited to, the general ledger, accounts payable, accounts receivable, and fixed assets.
• Cook up account reconciliations and analyses as directed (bank, subsidiary, general ledger, fixed assets, etc.).
• Ensure the accuracy of financial data and proper recording of all transactions in accordance with GAAP and GASB standards.
• Support and supervise monthly close process.
• Oversee the preparation of accurate and timely financial statements, including monthly, quarterly, and annual reports.
• Analyze financial data to identify trends, patterns, and anomalies, and make recommendations for action.
• Cook up account reconciliations and analyses as directed (bank, subsidiary, general ledger, fixed assets, etc.).
• Coordinate with external auditors for the annual audit process and address any audit findings.
• Develop and implement financial policies and procedures across departments to ensure compliance with laws and regulations.
• Contribute to strategic planning by providing relevant financial analysis and recommendations.
• Assess and manage financial risks, implementing risk management strategies as needed.
• Direct ongoing work process assessments and identify and implement improvements to policies, procedures, internal controls, and tools that realize greater operating efficiencies.
• Cook up a highly effective, professionally developed team through training and mentoring.

Energy Risk and Settlements

• Review monthly and quarterly reports and presentations for various stakeholder groups within NBU, including the Risk Oversight Committee (ROC) and the Board of Trustees (Board).
• Ensure compliance with Federal, State, and local legal requirements by researching existing and new legislation.
• Monitor and report compliance with Energy Risk Management and Credit Risk Management policies to ROC and Board.
• Serve as a member of NBU's ROC and assist in preparations for monthly meetings (and other deliverables as necessary/requested).
• Work with Power Supply Director to set strategic direction of NBU's Power Supply Program.
• Establish project priority for Power Supply Group and team members.
• Serve a sponsoring/supporting role in projects undertaken by the Power Supply Group and recommend a course of action based on thorough impact analysis.
• Monitor NBU’s credit position with ERCOT as well as with counterparties and conduct collateral calls as necessary.
• Coordinate on a daily basis with other departments, including Power Supply, Accounting and Finance.
• Oversee NBU’s QSE function at ERCOT as it relates to Energy Risk and Settlements, including daily settlements with ERCOT.
• Forecast and monitor NBU’s generation and transmission cost recovery factors.
• Conduct updates to NBU electric rate design and any relevant cost of service studies as needed.
• Facilitate and manage projects and relationships with external consultants and legal counsel.
• Ensure continued education and appropriate cross training for Power Supply Group members.
• Review submission of NBU’s annual Earnings Monitoring Reports with PUCT.
• Coordinate NBU’s Transmission Cost of Service (TCOS) filings with PUCT.
• Provide requested documentation to external auditors and assist in development of Annual Comprehensive Financial Report as it relates to the Power Supply Group.
• Respond to requests from ratings agencies, which requires abrupt attention and swift response.
• Identify the need for and assist in the implementation of process improvements on a continual basis.
• Ensure that all procedures are documented sufficiently and that such documentation stays updated over time as procedures, systems, etc. change.

Purchasing

• Provide executive leadership and strategic oversight of the Purchasing department, ensuring procurement activities support organizational goals, financial stewardship, and operational excellence.
• Establish and maintain procurement policies, procedures, and internal controls that ensure compliance with applicable laws, regulations, Board policies, and ethical standards, while promoting transparency and accountability.
• Oversee all procurement activities, including competitive solicitations (RFPs, RFQs, IFBs), contract negotiations, vendor selection, and contract administration, ensuring best value, risk mitigation, and lifecycle cost effectiveness.
• Collaborate with executive leadership and operational departments to align procurement strategies with capital planning, operating budgets, project timelines, and long-term organizational goals.