Finance Director

Finance Director
City of Covington
 Covington, Kentucky
Job Description

SUMMARY

This position assists the City Manager with implementing the strategic activities necessary to accomplish the City's mission and goals. This position works to assure a work environment that recruits, retains and supports quality staff.

The Finance Director serves as Chief Financial Officer of the City; plans, organizes, directs, controls and evaluates the activities of the Finance Department. The Finance Director supports the financial accounting processes of the City in accordance with the governmental Accounting Standards as promulgated by the Government Standards Board (GASB) as well as Generally Accepted Accounting Principles (GAAP) as required. The Finance Director provides fiscal accountability to the City directly through the coordination, formulation, monitoring, and presentation of budgets for controlling funds to implement program objectives of the City.

The Finance Director maintains a systematic, disciplined approach to identify risks and evaluate and improve the effectiveness of the Finance Department through the implementation and promotion of financial controls and governance processes.

ESSENTIAL DUTIES AND RESPONSIBILITIES: The following duties are normal for this position. These are not to be construed as exclusive or all-inclusive. Other duties may be required and assigned.

  • The Finance Director is responsible for all accounting, budget, purchasing, debt management, revenue collection and fiscal activities.
  • Oversees financial software systems.
  • Performs Treasury activities, annual audit, compliance with GASB standards, annual comprehensive financial report (ACFR), uniform financial information report (UFIR), annual budget, capital improvement planning.
  • Oversees cash receipt operations, investments, payroll, finance personnel management, procurement, risk management, and state/local and federal tax and revenue policies.
  • Ability to analyze fiscal data and draw logical conclusions, communicate effectively in writing and orally and develop cooperative working relationships with City staff and elected officials.
  • Ability to lead budget presentations using a variety of media to large and small groups and City Commission Meetings.
  • Ability to organize complex budget process into a simplified easy to understand format as needed.
  • Management of municipal debt administration.
  • Proven knowledge of principles and practices of organization, administration, budget and personnel management.
  • Ability to plan, assign, review and evaluate the work of professional and support staff.
  • Assures adherence to generally accepted accounting principles.
  • Tracks the City's economic growth and its impact on municipal finances and makes long-range projections of City programs and their financing.
  • Develops annual revenue estimates for the annual budget; assists the City Manager in developing the City Manager's annual budget proposal for the City Commission.
  • Reviews expenditures of departments to ensure compliance with budget.
  • When capital improvements projects are planned, makes estimates of capital needs and arranges financing, including, when necessary, negotiating bond sales.
  • Arranges for investment of idle funds.
  • Assures financial compliance with collective bargaining agreements.
  • Oversees the custody of City funds and other assets.
  • Cooperates with the external auditors on the annual audit of City financial records, practices and procedures.
  • Oversees the Assistant Finance Director and Senior Accounting Manager whose day-to-day duties include payroll, billing and collections, accounts receivable and payable, managing cash flow, developing and implementing all accounting procedures, developing and overseeing procedures for internal controls in the departments where cash is accepted from the public, and handling the City's financial reporting to the state and federal government.
  • Directs the management and funding of the City's employee benefit programs as administered by Third Party Administrators.
  • Forecasts short-range and long-range cash requirements and obligations, as a basis for maintaining adequate funds.
  • Serve as Secretary-Treasurer of the City Employees' Pension Fund and the Policemen's and Firemen's Retirement Fund, maintaining records of all transactions and investments.
  • Prepares and presents regular budget updates to the City Commission.
  • Schedules, supervises and evaluates department employees.
  • Keeps the City Manager informed of departmental performance and provides advice on all financial matters.
  • Develops and maintains information relating to the operating cost, utilization and condition of all City assets to inform continuous improvement and risk management processes.
  • Promotes a culture of high performance and continuous improvement that values learning and a commitment to quality.

KNOWLEDGE, SKILLS AND ABILITIES:

  • Extensive knowledge of generally accepted accounting principles and practices, investment principles and practices, cost accounting and fund accounting. Extensive knowledge of local government operations, legal requirements, and financial records management.
  • Familiar with issuance and administration of municipal bonds.
  • Seasoned Project Management and Collaboration skills.
  • Seasoned Problem-solving skills.
  • Ability to prioritize simultaneous projects/issues/concerns & to take ownership of work.
  • Strong organizational, interpersonal, and consultative skills.
  • A minimum of ten (10) years of broad-based Finance experience, knowledge of GASB and GAAP are required and progressively responsible management experience, preferably with demonstrated success in the following areas: organizational management budget/fiscal management.
  • Leadership of senior-level staff.
  • Municipal experience preferred.
  • Ability to lead staff in continuous efforts to improve quality, productivity and effectiveness.
  • Ability to effectively communicate key objectives necessary to achieve organizational goals.
  • Must be able to prepare and implement short- and long-range strategic plans, including considerations of budgetary, organizational and public impact Deep skills in statistical and budgetary analysis.
  • Demonstrated ability to present information in multiple forms including charts, graphs, narratives, and presentations to senior management and the public Commitment to excellence and a high stress tolerance.
  • Ability to maintain confidentiality.
  • Must be detail oriented and a self-starter.

SUPERVISORY:

  • Finance Department staff report to this position.

QUALIFICATIONS:

  • To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION and/or EXPERIENCE:

  • A minimum of a Bachelor's degree in Finance, Accounting, Public Administration or related field. A Master's degree and/or CPA license is preferred.

CERTIFICATES, LICENSES, REGISTRATIONS:

  • Possess and Maintain a Valid Driver's License.

LANGUAGE SKILLS:

  • Ability to read, analyze and interpret common financial reports and legal documents and write routine reports and correspondence. Effectively communicate and present information to all levels of the organization.

MATHEMATICAL SKILLS:

  • Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, fractions and decimals. Capacity to compute rate, ratio, and percentage, also able to create and interpret various types of graphs.

REASONING ABILITY:

  • Ability to define problems, collects data, establish facts, and draw valid conclusions. Capability to apply common sense understanding in order to carry out instructions furnished in written, oral or diagram form.

PHYSICAL DEMANDS:

  • The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to talk or hear. The employee frequently is required to stand; walk; sit and use hands to finger, handle or feel. The employee is occasionally required to reach with hands and arms and stoop, kneel, crouch or crawl. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and ability to adjust focus.

WORK ENVIRONMENT:

  • While performing the duties of this job, the employee is typically in an office setting, but is occasionally exposed to wet and/or humid conditions. The noise level in the work environment is usually moderate.

JOB TYPE/WORK HOURS:

  • Full-time position. Days and hours of work are Monday through Friday, 8:00 am — 4:30 pm. Evening, weekend or hours adjustments may be required as job duties demand.
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