State of Connecticut Executive Branch

Utilities Finance Specialist (6720AR)

$42.20-$54.27 Hourly / $3,375.71-$4,341.50 BiWeekly /
$88,106.00-$113,313.00 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 independently performing 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.

SUPERVISION RECEIVED

Works under the general supervision of an employee of higher grade.

SUPERVISION EXERCISED

May supervise employees of a lower grade as assigned.

EXAMPLES OF DUTIES

  • Performs a full range of duties relating to utility finance including analyses of cost of capital and rates of return on rate base and equity; 
  • Reviews cost of money testimony and exhibits presented in rate applications; 
  • Prepares and conducts cross-examination of expert witnesses in areas of capital structure, cost of capital and financing; 
  • Analyzes financial operations and financial viability of utility companies including capital investments, budgeting, cash flow and or cash management and asset management; 
  • Analyzes applications and justifications for issuance of stock, bonds, notes and other evidence of indebtedness; 
  • Collects, analyzes, evaluates and summarizes economic and financial data regarding transfer of public utility assets, mergers, acquisitions and divestitures; 
  • Prepares comprehensive reports and testimony making specific recommendations on an array of issues related to utility conditions, utility corporate financial structure and conditions; 
  • Performs special studies on generic financial concerns being considered by Department of Energy and Environmental Protection; 
  • Performs financial impact studies of and reviews utility proposals for future construction; 
  • Serves as an expert finance witness before Department of Energy and Environmental Protection, other regulatory bodies, or courts; 
  • Assists in preparation of Department of Energy and Environmental Protection orders; 
  • Develops specifications for computerized financial models; 
  • Prepares policy recommendations regarding utility financing matters for management; 
  • May draft interrogatories; 
  • May assist in the preparation of briefs and draft decisions; 
  • May train lower level employees; 
  • 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; 
  • Knowledge of financial aspects of company mergers and divestitures; 
  • Considerable
    • interpersonal skills; 
    • oral and written communication skills; 
  • Supervisory ability.

MINIMUM QUALIFICATIONS - GENERAL EXPERIENCE

Seven (7) years of professional experience in business, finance or quantitative analysis.

MINIMUM QUALIFICATIONS - SUBSTITUTIONS ALLOWED

  • College training may be substituted for the General Experience on the basis of fifteen (l5) semester hours equalling one-half (l/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 (l) 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 26

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 Finance Specialist in Salary Group AR 26 approved effective February 15, 2012. (Revised to modernize format and add Acknowledgement section) Final No. 23-243

EFFECTIVE DATE

09/18/2023
CLASS: 6720AR; EST: 7/29/1977; REV: 9/19/2023;