Details
Posted: 09-Aug-22
Location: Phoenix, Arizona
Type: Full Time
Categories:
Administrative
Operations
Years of Experience:
5 - 10
Valley Metro Chief Financial Officer
Position Description
SUMMARY
Valley Metro is seeking a highly qualified and dynamic Chief Financial Officer (CFO) to lead, manage and direct agency-wide fiscal functions, strategic financial planning and contribute to the overall operational plan of the agency. The CFO functionally reports to the Chief Executive Officer, and through a shared partnership to the Boards of Directors for Valley Metro RPTA and Valley Metro Rail.
The CFO is responsible for financial matters as they relate to accounting and reporting, budget management, cost-benefits analysis, forecasting, procurement and the application and allocation of regional financial resources through the Transit Life Cycle Program (TLCP). CFO is an effective administrator, communicator, and a key member of the Valley Metro executive leadership team. In addition, the CFO is responsible for providing sound fiscal leadership and fiduciary oversight to facilitate organizational accountability, transparency, and efficiency.
ABOUT VALLEY METRO
Valley Metro is located in Phoenix, Arizona, the fifth largest city in the United States. We serve 525 square miles across Maricopa County, the nation’s fastest growing region, encompassing a diverse and unique desert landscape of urban city centers, suburban developments and natural preserves.
With a core mission of “Connecting Communities and Enhancing Lives,” Valley Metro provides safe and efficient public transportation to the communities of Avondale, Buckeye, Chandler, El Mirage, Fountain Hills, Gilbert, Glendale, Goodyear, Maricopa County, Mesa, Peoria, Phoenix, Queen Creek, Scottsdale, Surprise, Tempe, Tolleson, Wickenburg and Youngtown.
Valley Metro is comprised of two separate legal entities and is governed by two Boards of Directors. The Regional Public Transportation Authority (RPTA) Board consists of 19 members (representing 18 cities and Maricopa County) that set regional policy direction for all modes of transit except light rail. The Valley Metro Rail (VMR) Board consists of four cities (Phoenix, Tempe, Mesa and Chandler) that set policy direction for the light rail and streetcar systems. The two agencies operate jointly under one CEO and one organizational structure. Intergovernmental agreements between the agencies define the responsibilities of each agency in meeting the overall strategic mission, vision, and goals for Valley Metro. The Boards and the agency work together to enhance the regional public transportation system.
The FY23 combined operating and capital budgets for the Regional Public Transportation Authority and Valley Metro Rail are $795,369,000. Funding of the agency is provided by local, regional and federal funds. While much of the budget supports bus, rail and paratransit operations, Valley Metro is also planning, designing and building future transit corridors and delivering critical, regional services, including vanpool, customer service, marketing and fare technology upgrades.
With the support of our member agencies, Valley Metro coordinates the planning and operations of 61 local bus routes, 20 Express/RAPID commuter bus routes, 18 neighborhood circulator routes and one rural route that serves as a lifeline to communities outside of Maricopa County. Under the Valley Metro brand of services, member agencies may also directly operate some local transit services. The 28-mile light rail system, which currently serves the cities of Phoenix, Tempe and Mesa, is undergoing expansion to add seven new miles of service and create a two-line system by 2024. Two additional light rail extensions, adding 11 more miles of service in Phoenix, are currently in the planning phase. In May 2022, the region’s first streetcar line began serving a three-mile route across downtown Tempe, Tempe Beach Park, Marina Heights businesses and the Arizona State University campus. Extensions of streetcar are also in a study phase. In addition to bus, streetcar and light rail service, Valley Metro offers transportation alternatives including on-demand paratransit, commuter vanpools and carpool matching services.
Total annual ridership for bus and rail services was 32 million in FY22. Prior to the COVID-19 pandemic, ridership averaged 66 million riders annually.
Valley Metro also serves as a community partner assisting organizations with 50+ employees reporting to a single work site with strategic ridesharing options to meet Maricopa County’s travel reduction goals. Valley Metro is also committed to sustainability programs with the addition of solar canopies and solar panels that generate power for bus and rail operations facilities. Most of the Valley Metro fleet runs on clean energy including 78% of buses powered by alternative fuels and six hybrid-powered streetcars.
While Valley Metro expands its service, we also focus on innovation as a way to not only be sustainable but also accommodate the demand for a new level of connectivity. As an example, partnerships with autonomous and zero-emission vehicle technologies means greater access and a healthier climate for all Arizonans.
The metro Phoenix region is an attractive destination that offers an abundance of cultural, entertainment, education and sports destinations. The population of 4.4 million is trending younger as college and university students choose to call the urban desert life home. Valley Metro is making great strides in connecting citizens of metro Phoenix and surrounding cities to the places that they need and want to go. In fact, light rail has sparked more than $16 billion in public and private investment since construction began on the original starter line in 2004. It is considered a backbone for economic development throughout the region.
We are an expanding and vibrant public transportation agency that thrives on connecting communities and enhancing lives, one ride at a time.
DUTIES AND RESPONSIBILITIES
The CFO’s responsibilities include, but are not limited to the following:
- Provides leadership and direction to the Finance and Procurement Division staff comprised of 34 staff members including five (5) management staff performing professional work including general accounting, payroll, fare revenue, preparation of operating and capital budgets, revenue generation, grant accounting, cash and investment management, audit compliance and financial reporting, purchasing and procurement, solicitations, and contract management;
- Establishes and maintains internal controls to achieve the objectives of effective and efficient operations; reliable financial reporting; and compliance with applicable laws and regulations; and assesses internal control effectiveness;
- Ensures adequate controls are installed and that substantiating documentation is approved and available such that all financial activity may pass independent and governmental audits;
- Oversees the development and administration of the annual operating budgets and capital improvement programs (CIP) for Valley Metro RPTA and Valley Metro Rail; and formulates budgetary strategies, procedures, and guidelines to ensure that stakeholder expectations are met;
- Reviews, analyzes, and develops recommendations to support actions, policies, management decisions pertaining to complex budget issues; develops alternative methods to costing operational and capital investment strategies that benefit the Agency;
- Works with the Chief Executive Officer and Boards of Directors to promote the financial mission, vision, and values of the organization; establishes performance measurements, manages, monitors and report on Agency financials;
- Administers and reviews the preparation of the audited financial statements, and the two comprehensive annual financial reports;
- Plans, manages, reviews and evaluates the Contracts & Procurement Department staff and work activities; monitors procedures, and ensures purchasing and contracting activities are in compliance with state and federal regulations, and Agency policies & procedures;
- Prepares and reviews narrative and statistical reports, correspondence, agenda items, policy papers, presentations, and other written materials;
- Works with senior leadership team to implement financial plans, benchmarks, and budgetary performance metrics to help monitor progress toward financial goals agency-wide;
- Works with other Agency leaders to identify areas for greater financial efficiency across the agency; balances short-term needs with long-term financial goals.
- Contributes to the strategic and business planning process, including providing recommendations to senior management and the Boards of Directors on short-term and long-term financing, and operating strategy for the organization;
- Manages the authority's banking and financial advisor relationships; and manages investments performance, financial accounting and reporting;
- Oversees financial analysis, cash and treasury management, debt management, and the associated forecasting requirements; seeks funding opportunities for future studies and projects;
- Oversees the collection and analysis of relevant financial metrics, data, and performance measures, and the use of those metrics to implement change and improve efficiency to support the Agency’s short- and long-term goals.
- In collaboration with the City of Phoenix and Valley Metro Operations, directs the management of fare revenue system, including sale of fares, fare revenue reconciliation, system expansions or upgrades, equipment life-cycle management, and monitors fare collection industry to ensure system maintains minimum industry standards;
- Trains the Finance and Procurement Division and other staff on raising awareness and knowledge of financial management policies and procedures and required internal control procedures;
- Oversees the supervision of staff, which includes work allocation, training, and problem resolution; evaluates performance and makes recommendations for personnel actions; motivates and trains employees to achieve peak productivity and performance;
- Manages, mentors, and empowers department staff to perform their jobs at a high level; maintains an inclusive work environment where employee feel empowered to succeed and work toward a common strategic vision.
- Collaborates and communicates with leadership throughout the Agency in other departments to ensure financial policies, processes, and procedures and being followed to achieve an Agency-wide financial strategy.
- Establishes and ensures the use of best practices, policies and procedures in Finance and Procurement; maintains up-to-date knowledge on relevant industry innovations and technologies and how they can be utilized to improve the department and Agency as a whole.
- Represents the Agency to other governmental agencies, funding agencies, stakeholders, general public and Valley Metro RPTA and Valley Metro Rail Boards of Directors.
KNOWLEDGE AND SKILLS
The ideal candidate for CFO will be a self-motivated individual who is a creative problem-solver with highly developed management, administrative and communication skills, and stakeholder engagement capabilities. The CFO is a catalyst for action in translating agency financial goals and objectives into action plans and must have superior long-range planning skills and be able to continually achieve interim goals in pursuit of the long-term strategy.
The ideal candidate for CFO will also possess the following knowledge and skills:
Knowledge of:
- Operations, services, and activities of a comprehensive Finance and Procurement Division in a complex, customer service organization;
- Pertinent state, federal and local laws, codes, and regulations;
- Principles and practices of generally accepted accounting principles (GAAP), with an emphasis on governmental and fund accounting, including methods of financial reporting and financial statement preparation;
- Techniques of financial strategic planning;
- Financial analysis principles and practices;
- Internal Control principles and practices;
- Principles and practices of governmental budget development and administration;
- Federal Transit Administration (FTA) regulations;
- Principles and practices of public administration, public procurement systems and processes;
- Principles and practices of contract administration in the public sector;
- Grant and funding opportunities at the state, local, and federal levels;
- Capital project finance including capital budgets and relevant project controls;
- Public-private partnerships;
- Supervisory principles, methods and techniques;
- Computer applications such as Microsoft Suites, Word, Excel, Power Point, Outlook and financial management systems.
Skill in: - Managing financial and procurement operations in a large, complex customer service organization;
- Developing, reviewing, and monitoring operating and capital budgets;
- Developing and achieving short- and long-term strategic financial goals for an agency;
- Communicating in a variety of mediums including written, oral, interpersonal, and presentations.
- Preparing clear and concise reports, correspondence and other written materials; communicating complex financial information in a way that is clear and accessible to all audiences;
- Establishing and maintaining effective working relationships with other department staff, management, vendors, member agencies, community groups and the general public;
- Identifying and pursuing new opportunities for grants and funding;
- Developing and implementing goals, objectives, policies, procedures and work standards for the Finance and Procurement Division and staff;
- Analyzing and reviewing budgetary information to determine the impact on the Agency;
- Identifying and implementing innovative and creative solutions to complex problems;
- Preparing and analyzing complex data and comprehensive reports;
- Utilizing personal computer software programs affecting assigned work and in compiling and preparing spreadsheets and reports;
- Planning, organizing and administering a comprehensive financial management and reporting program;
Interpreting, applying and explaining federal, state and local laws related to the areas of responsibility.
MINIMUM QUALIFICATIONS
The ideal candidate will possess a bachelor’s degree in Accounting, Business Administration, or related field required AND a minimum of ten (10) years of progressively responsible financial management experience that includes five (5) years in a senior level management role with significant responsibility for the financial affairs of a complex organization and staff. A master's degree is desirable and experience in public agency and/or transit agency is also highly desirable.
An equivalent combination of education and relevant experience sufficient to successfully perform the essential duties of those listed is also acceptable.
Licenses/Certifications Desired:
Certified Public Accountant (CPA)
Certified Management Accountant (CMA)
Certified Public Finance Officer (CPFO)
TO APPLY
For more information or to submit a cover letter and resume, please contact Gregg Moser, Principal at K&A, at gmoser@kapartners.com.