State of Connecticut Executive Branch

Utilities Principal Finance Specialist (0272AR)

$48.86-$63.38 Hourly / $3,908.55-$5,070.31 BiWeekly /
$102,013.00-$132,335.00 Yearly

PURPOSE OF JOB CLASS (NATURE OF WORK)

In the Department of Energy and Environmental Protection or Office of Consumer Counsel this class is accountable for performing the most complex tasks relating to utility economics and finance and for serving as a team leader for professional technical staff.

GUIDELINES FOR JOB CLASS USE

In the Department of Energy and Environmental Protection or Office of Consumer Counsel this class is distinguished from classes of lower grade by the complexity of work, degree of responsibility as well as the ongoing professional team leadership responsibilities over an assigned caseload, and technical team membership responsibilities for cases assigned to the leadership of other employees. This advanced level class is distinguished from lower level classes in that it requires complex, substantial, independent, highly responsible work.

SUPERVISION RECEIVED

Receives general direction from an administrative employee of a higher grade.

SUPERVISION EXERCISED

May supervise teams of technical/professional employees as assigned.

EXAMPLES OF DUTIES

  • Performs a full range of tasks in the planning and conducting of financial and economic analyses and studies, analyses of cost of capital, and recommending rates of return on investments;
  • Independently performs the most complex duties relating to a full range of utility economics and financial issues such as conducting rate of return analyses including specific costs of all components of capital; 
  • Evaluates financial operations and financial viability of utility companies; 
  • Oversees or performs analyses and evaluations of complex financial statements, studies and statistical exhibits; 
  • Develops and conducts cross-examination of expert witnesses regarding complex financial, accounting and economic issues in rate cases and other proceedings; 
  • Exercises independent judgment as to propriety of proposed issues of securities by utilities in light of current security markets and accepted utility capital structures; 
  • Reviews past or prospective capital operations of utilities including financial aspects of construction projects; 
  • Examines and audits books and records of utilities subject to regulation and recommends appropriate revisions and/or new financial accounting methods; 
  • Develops evaluations concerning transfer of public utility assets, mergers, acquisitions and other divestitures; 
  • Performs special studies including those regarding generic financial concerns, utility corporate, organizational and financial structure and conditions; 
  • Designs and performs special financial analyses on an as needed basis; 
  • Prepares and presents comprehensive reports and testimony on an array of financial matters; 
  • Prepares interrogatories; 
  • Serves as an expert finance witness in court and regulatory proceedings; 
  • Directs development of computerized financial models; 
  • Prepares and presents policy recommendations regarding utility economic and financial matters; 
  • Develops and recommends final departmental orders on utility economics and finance matters; 
  • Trains finance specialists and other professional or technical staff of lower grade; 
  • May assist in the preparation of briefs and draft decisions; 
  • Performs related duties as required.

KNOWLEDGE, SKILL AND ABILITY

  • Considerable knowledge of
    • principles and practices of finance especially as related to operation and capitalization of public utilities; 
    • public utilities performance in stock and bond markets and impacts of those markets on utilities; 
    • public utility corporate financial structure; 
    • rate of return and cost of capital analyses including computer applications; 
    • philosophies and practices concerned with corporate economics and finance in a regulated environment; 
    • financial aspects of company mergers and divestitures; 
  • Considerable
    • interpersonal skills;
    • oral and written communication skills; 
  • Considerable ability to deal effectively with others under circumstances often adversarial; 
  • Supervisory ability.

MINIMUM QUALIFICATIONS - GENERAL EXPERIENCE

Eight (8) years of professional experience in business, finance or quantitative analysis.

MINIMUM QUALIFICATIONS - SPECIAL EXPERIENCE

Two (2) years of the General Experience must have involved complex financial analysis.

NOTE: Complex financial analysis is interpreted as performing comprehensive, detailed and difficult financial studies resulting in reports and recommendations to management.

MINIMUM QUALIFICATIONS - SUBSTITUTIONS ALLOWED

  • College training may be substituted for the General Experience on the basis of fifteen (15) semester hours equalling one-half (1/2) year of experience to a maximum of four (4) years for a Bachelor's degree.
  • A Master's degree in finance, economics, accounting, business, mathematics, computer science or other closely related field may be substituted for one (1) additional year of the General Experience.

SPECIAL REQUIREMENTS

  • Incumbents in this class may be required to travel.
  • Incumbents in this class may be required to possess and retain a valid Motor Vehicle Operator's license.

JOB CLASS DESIGNATION

Classified/Competitive

OCCUPATIONAL GROUP

(01)-Accounting/Auditing

BARGAINING UNIT

(16)-ADMIN & RESID (P-5)

EEO

(2)-Professional

SALARY INFORMATION

AR 30

ACKNOWLEDGEMENT

As defined by Sec. 5-196 of the Connecticut General Statutes, a job class is a position or group of positions that share general characteristics and are categorized under a single title for administrative purposes.  As such, a job class is not meant to be all-inclusive of every task and/or responsibility.

CANCELLATION CLAUSE

This replaces the existing specification for the class of Utilities Principal Finance Specialist in Salary Group AR 30 approved effective February 15, 2012. (Revised to modernize format and add Acknowledgement section) Final No. 23-243

EFFECTIVE DATE

09/18/2023
CLASS: 0272AR; EST: 2/23/1990; REV: 9/18/2023;