Principal Financial/Rate Analyst

About the role

The City of Pasadena Water and Power Department is seeking a Principal Financial/Rate Analyst with deep budgeting expertise, exceptional analytical capability, and a strategic, big-picture mindset to lead advanced financial, budget, and utility rate analysis.

Responsibilities

• Lead the annual budgeting cycle by coordinating timelines, advising on economic and cost drivers, gathering departmental inputs, and consolidating all financial plans into a comprehensive organizational budget.

• Monitor and analyze budget performance, including monthly and quarterly variance reviews, spending trends, and financial risks.

• Develop and maintain financial forecasts, updating projections based on actual results, operational changes, and market conditions.

• Prepare clear, actionable financial reports for senior leadership, including dashboards, variance analyses, and scenario models.

• Partner with department leaders to support financial planning, improve budget literacy, and ensure alignment with organizational goals.

• Identify cost-saving opportunities and lead initiatives to optimize spending without compromising performance.

• Ensure compliance with internal financial policies, accounting standards, and regulatory requirements.

• Manage budgeting tools and systems, ensuring data accuracy, process efficiency, and continuous improvement.

• Support audits by providing documentation, explaining variances, and maintaining audit-ready financial records.

• Contribute to strategic planning through financial modeling, business case evaluation, and long-term scenario analysis.

• Prepare and present highly technical and financial studies and analyses to a broad spectrum of audiences.

• Conduct assigned department business with appropriate government entities, including federal, state, and local agencies.

• May represent the Manager of Utility Financial Services and the Assistant General Manager upon request; may supervise, plan, direct, or organize staff activities.

• Interact with City staff, financial consultants and auditors, Municipal Service Committee, legal counsel, and brokers; and perform other related work as assigned.

Qualifications

• Graduation from an accredited college or university with a specialization in economics, accounting, finance, and/or business administration; AND

• Four (4) years of increasingly responsible experience in utility economics and financial planning, forecasting, and budgeting in a public utility organization or a similar agency.

• A Master’s degree in one of the aforementioned or similar disciplines is preferred.

Skills

The ideal candidate is a strategic, innovative, and team-oriented financial professional with advanced Microsoft Excel skills and expertise in developing, maintaining, and analyzing complex financial models.

Benefits

The City of Pasadena offers a comprehensive benefits package including:

• Defined benefits program through CalPERS
• Deferred compensation plan
• Health insurance options
• Dental insurance
• Paid leave
• Life and short-term disability insurance
• Voluntary vision, life, accident, and critical illness insurance
• Flexible spending accounts
• Employee assistance program

Pay

The starting salary range for this position is $80,000 - $90,000 annually.

Schedule

This position is full-time and works Monday through Friday, 8:00 AM to 5:00 PM.