Chief Financial Officer

Department/Agency of position: 
Illinois Municipal Electric Agency Finance/Accounting Department
Location of position: 
Springfield, IL
Date Posted: 
Tuesday, May 15, 2018
Closing Date: 
Sunday, July 15, 2018
Job Description: 

Illinois Municipal Electric Agency (IMEA) Chief Financial Officer

IMEA is a wholesale electric supplier to 32 Illinois municipal electric systems with long-term contracts with its member utilities. Each of these communities owns and operates its own electric distribution system, with over half owning and operating local power generation plants. IMEA provides service to members through a combination of joint power plant ownership and long-term power supply agreements, as well as related energy and operational services. IMEA also manages a wholesale natural gas agency, the Illinois Public Energy Agency that serves 12 municipal gas systems and 2 cooperatives in the state of Illinois. IMEA also provides management services to the Illinois Municipal Utilities Association for 55 municipal utilities throughout the state as well.

The three entities operate 24x7x365 and have a combined annual budget near $375 million from our state of the art facility in Springfield, Illinois.

General Responsibilities

• The Chief Financial Officer reports directly to the President & CEO and is responsible for the management, staffing and administration of all accounting and finance functions within the Illinois Municipal Electric Agency (IMEA), Illinois Public Energy Agency (IPEA) and the Illinois Municipal Utility Association (IMUA).

Specific Responsibilities and Duties

• Directly supervises the Senior Accountant, Accountant and the Director, Information Systems & Security (IS) • Manages the collection of revenues and payment of bills – calculates monthly billing for power sales to members and handles member contacts dealing with billings and related rates • Audits expenditures for payment approval and appropriate amounts • Develops and implement programs to fund the operating and capital requirements of the IMEA and IMUA o Directs the development of short-term financing as needed o Directs the preparation of supporting documents for long-term financing o Directs the preparation of all reports required by bond resolution • Develops and implement programs to effectively invest available cash resources within the constraints of the bond resolutions, investment policy, and tax regulations • Participates in the planning and development of IMEA’s power supply resources as needed • Communicates the financial status to CEO, boards of directors, members, financial institutions, and rating agencies as required • Prepares annual budgets and long-term financial plans and projections • Trains, manages, leads, and retains accounting, finance, and IS staff necessary to meet the goals of the IMEA, IPEA and IMUA • Directs the operation and maintenance of the general accounting system and property records system • Maintains, enforces and makes recommendations for the establishment or revision of all accounting policies, procedures and internal controls • Directs the preparation and presentation of financial statements structure • Monitors federal and state tax changes or updates with tax authorities • Directs the internal audit activities performed by accounting personnel regarding IMEA and IPEA accounting matters and matters concerned with joint venture or partnership arrangements • Assists public accountants with annual financial audit


A Bachelor’s degree in accounting or finance, CPA preferred, or an equivalent combination of education and experience resulting in a demonstrated ability to perform the duties required. Qualified candidates will also possess five years or more management experience with budgeting, cost and revenue responsibility along with an understanding of the accounting and finance functions of public utilities.

This individual should possess advanced computer skills to include the ability to develop new applications in spreadsheets and data base software to develop specific applications. Strong written and verbal communication skills are required for this position to express detailed financial concepts to a variety of audiences in reports and letters along with explaining complex financial concepts in presentations, speeches and/or informal meetings.

In addition, IMEA seeks individuals that possess:

• Advanced analytical and mathematical skills • The ability to work independently, set priorities, and manage multiple tasks/projects simultaneously • An adeptness to lead and work well in a team oriented environment • The capability to professionally handle confidential and personnel matters

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IMEA offers a competitive salary with excellent benefits including a 401(a) retirement plan and is an Equal Opportunity Employer.