Job Information
City of Detroit Director of Finance in Detroit, Michigan
Director of Finance
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Director of Finance
Salary
$26,923.00 - $269,222.00 Annually
Location
735 Randolph Detroit MI 48226, MI
Job Type
Classified- Regular (DWSD Only)
Job Number
IR-062024-8653080
Department
Water Department
Opening Date
06/18/2024
Closing Date
7/1/2024 11:59 PM Eastern
Bargaining Unit
9031-Non Union Appointees (DWSD)
Description
Benefits
Description
This is not a Civil Service Position. DWSD employees are subject to provisions of Court Orders entered in United States District Court, Eastern District of Michigan, Southern Division, Case No. 77-71100 with regard to certain terms and conditions of employment. DWSD does not honor reversion rights for internal candidates.
The Director of Finance, under the direct supervision of the Chief Financial Officer (CFO), plans, directs, coordinates, and supervises the overall strategy and management of financial operations of the Detroit Water and Sewerage Department (DWSD); primarily day-to-day responsibility for financial policies and planning; implementing, managing, and controlling all financially-related activities; ensuring compliance with DWSD business objectives and goals, industry standards and regulatory body requirements; and financial reporting. This will include direct responsibility for financial planning, analysis and forecasting for both operations and capital program, budget administration, rates and charges analysis, risk assessment and internal controls, treasury operations, debt management, billing and collections; organizing tasks and setting priorities that involve a high level of independent judgment, initiative and discretion.
Examples of Duties
ESSENTIAL JOB FUNCTIONS:
Direct and oversee the budget development processes. financial planning and forecasting, treasury functions, including analyzing cash flows to meet DWSD needs and optimization of its investment portfolio, participate in budgetary cost controls and expenses to guide DWSD and its leadership team. Review and analysis of financial statements to pinpoint potential weak areas, trends and opportunities.
Work with the CFO and partner with Chief Operating Officer (COO) to ensure programmatic success through cost analysis support, and compliance with all contractual and operational requirements. Promote and practice engagement of staff and executive management; coordinate and maintain good relationships with regulatory agencies and all DWSD’s operating and support service units. Prepare and manage financial reports in discussion with leadership, and upon request, present financial and other related reports before the Board of Water Commissioners (BOWC).
Train the finance staff on raising awareness and knowledge of financial management matters and best practices in financial management. Assist the CFO on all strategic and tactical matters as they relate to budget management, cost benefit analysis, forecasting needs, development of rates schedules and proposed rate changes, long term financing needs and the securing of new funding. Oversee management coordination of all fiscal reporting activities for the organization including organizational revenue/expense and balance sheet reports, reports to funding agencies, and development and monitoring of organizational and contract/grant budgets.
Develop and maintain systems of internal controls to safeguard DWSD’s financial assets and oversee federal awards and programs. Perform other related work duties as assigned by the CFO. Monitor the work of staff and coach them to improve performance and provide timely feedback on staff performance. Seek out opportunities for continuous improvement of the Finance function. Develop and implement the Finance function’s goals, objectives, policies and priorities. Communicate with executive management regarding the DWSD’s activities and coordination of efforts with the appropriate City of Detroit departments in addressing the needs of DWSD.
Minimum Qualifications
REQUIRED EDUCATION AND EXPERIENCE: (position requirements at entry):
• Bachelor’s Degree in Accounting, Finance or Business or related field from an accredited college or university.
• A minimum of seven (7) years of progressive experience directly related to managing and controlling an organization’s finance function.
• CPA or CA certification and public accounting experience required. MBA or an advanced degree in the field is preferred.
EXTENSIVE KNOWLEDGE OF:
• Financial, budgetary and accounting practices, as well as internal controls
• Financial Statements Preparation, Analysis and Reporting
• Operations and Capital Budgeting and Financial Forecasting
• Grants Monitoring and Compliance
• Capital Assets Management
• Municipal bond structuring and issuance
• Cash and Investment Management
• Generally Accepted Accounting Principles and Government Accounting Standards
• Laws, regulations, and rules governing governmental agency accounting and finance functions
• Conflict management and resolution principles, styles, and strategies between individuals and groups; negotiation and persuasion techniques to garner support of project initiatives and goals
• Project management
EMPLOYMENT BENEFITS
The City of Detroit offers a competitive and comprehensive employee benefit package. We pride ourselves on the longevity of our employees. Part of the reason for the low turnover rate is the exceptional benefit package listed below. Benefits include, but are not limited to the following:
HEALTH
Medical - Eligible for hospital, surgical, and prescription drug benefits.
Dental
Vision
INSURANCE
Life Insurance - Optional group insurance available to employee and their family. The City pays 60% of premium for first $12,500 of employee life insurance. Employee may purchase, at own expense, life insurance for spouse and each dependent.
Long-Term Disability Insurance (Income Protection Plan) - The City offers disability insurance through payroll deductions for persons who become disabled and who are not yet eligible for a service retirement.
PAID TIME OFF
Sick Leave
Vacation
Holidays
OTHER LEAVE BENEFITS
The City also has the following paid and unpaid leaves; funeral leave, Family and Medical Leave, jury duty, military duty leave, unpaid personal leave,
RETIREMENT BENEFITS
City Employees Retirement System
As a regular City employee you automatically become a member of the General Retirement System. This entitles you to a retirement allowance after:
• Completion of thirty (30) years of service;
At age sixty (60) if you have at least ten (10) years of service, or
At age sixty-five (65) with eight (8) years of service.
• In the event of disability, other eligibility rules apply);
- An early, actuarially reduced, retirement is offered after you have attained at least twenty-five (25) years of service;
• Employees are vested after ten (10) years of service, regardless of age.
ADVANCEMENT OPPORTUNITIES - Employees have many opportunities for growth and career advancement throughout all City departments and divisions.
Have a successful career with the City of Detroit. Always remember that you are a part of a team with a common Vision of delivering excellent service to the citizens of the City of Detroit.
Agency
City of Detroit
Address
Coleman A. Young Municipal Center 2 Woodward Ave ste 316 Detroit, Michigan, 48226
Website
http://www.detroitmi.gov/Detroit-Opportunities/Find-A-Job
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