Sr Mgr Rates & Regulatory at American Water in Camden, New Jersey

Job Description:

Requisition ID: 107184



Share Our Purpose. Be Yourself. Feel Valued.


People are the heart of our business. As an American Water employee, you will be offered a competitive salary and health benefits package, along with opportunities to develop, grow, and evolve your career. Our benefits packages focus on key areas such as health & wellness, emotional & well-being, and savings for current & future goals.


We are Beautifully Different. We strongly believe having diversity across our company makes us more successful and helps us provide essential services to our customers. We are stronger because we embrace different ideas, viewpoints, experiences, and backgrounds. American Water is the best choice for your next role! Click here for more information on our inclusion, diversity, and equity journey.



About American Water

American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to more than 14 million people across 14 regulated jurisdictions and 18 military installations. American Water's 6,500 talented professionals leverage their significant expertise and the company's national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.


As one of the fastest growing utilities in the U.S., American Water expects to invest $30 to $34 billion in infrastructure repairs and replacement, system resiliency and regulated acquisitions over the next 10 years. The company has a long-standing history of executing its core operations, aligned with sustainable best practices, through its commitments to safety, affordability, customer service, protecting the environment, an inclusive workforce and strengthening communities.


American Water has been recognized on the 2023 Bloomberg Gender-Equality Index for the fifth consecutive year, ranked 18th on Barron's 100 Most Sustainable U.S. Companies 2023 List, earned the U.S. Department of Homeland Security SAFETY Act designation and U.S. Environmental Protection Agency's WaterSense® Excellence Award, among additional state, local and national recognitions.

For more information, visit amwater.com and join American Water on LinkedIn, Facebook, Twitter and Instagram.




Primary Role


Responsible for leading rates and regulatory activities for a specific state and/or group of states while participating in regional activities. Shapes, drives and influences the rate case process within the state(s). Supports regulatory initiatives in the form of required testimony, exhibits and interrogatories consistent with individual rate case requirements.

Ensures compliance with US GAAP and regulatory and Company policies. Plans, efficiently project manages and executes general rate cases, rate mechanism compliance filings and all other rate and regulatory filings,

as required by law, regulation or commission order and consistent with the business plan for the state or division.

Coordinates rate and regulatory activities with finance, engineering and legal functions and provides clear technical guidance on rate and regulatory matters to communications, external and government affairs,

and customer advocacy functions. Ensures the accuracy of communications material related to rate and regulatory matters.

Plays a lead role in business planning and business development (identification, evaluation, pricing, bidding and bid award), as required by the division or state, as well as post-acquisition

integration. Ensures that rate case and mechanism timing and results, including the requested and actual capital structure and return on equity (among other things) are consistent with the business plan.

Establishes and maintains good working relationships with key public utility commission and consumer advocate staff and other key stakeholders (e.g. municipal, customer and environmental) on a regular basis.

Leads or co-leads strategic aspects of general rate cases, acquisitions, legislation, regulation and other utility policy matters and provides expert technical and policy advice and recommendations to the rates director and/or senior leadership team in the division or state.




Key Accountabilities


Ensures on-going compliance to maintain the Company's good standing:
• Identifies, documents and completes rate related regulatory requirements and liaises with other functions (operations, HR, etc.) to advise on other regulatory requirements.
• Meets targets developed by the State and/or Division President and/or Director of Rates & Regulations for critical items not specified as a regulatory requirement.
• Ensures timely and accurate filings on all regular or routing matters, e.g., DSIC, annual AIF, Tariff Updates, etc.
Ensures compliance with US GAAP in accordance with the local rate making process. (30%)
Provides Rates and Regulations leadership within the specified state and/or multiple states:
• Works with the Director of Rates and/or State President/GM to coordinate rate case strategy and execution within the state(s).
• Provides advice and expertise on a pro-active basis to executives, senior managers and employees.
• Represents the Director of Rates & Regulations and/or State President internally as well as to external regulators and industry stakeholders throughout the state(s).
• Develops and maintains a recognized presence with state regulators, advocates, legislators, municipal officials and other key stakeholders.
• Assists in the formulation of corporate policies and procedures and compliance with such policies and procedures.
• Provides advice and assistance in planning and reporting progress on all regulatory matters including regulatory revenue forecasting.
(15%)
Maximizes value for the operating company(ies):
• Project manages selected rate cases and other regulatory filings.
• Ensures that each case is thoroughly and completely prepared.
• Prepares and reviews rate case support schedules, testimony and exhibits.
• Prepares and reviews response to interrogatories.
• Provides expert testimony (written and oral) on items of particular complexity or sensitivity.
• Collaborates with external consultants and in-house counsel to ensure efficient prosecution of general rate cases.
• Prepares filings for other key strategic issues supporting the on- going development of the business.
• Coordinates with engineering to efficiently plan capital additions. (20%)
Ensures on-going compliance to maintain the Company's good standing:
• Identifies, documents and completes rate related regulatory requirements and liaises with other functions (operations, HR, etc.) to
advise on other regulatory requirements.




Key Accountabilities Continued


• Meets targets developed by the State and/or Division President and/or Director of Rates & Regulations for critical items not specified as a regulatory requirement.
• Ensures timely and accurate filings on all regular or routing matters, e.g., DSIC, annual AIF, Tariff Updates, etc.
Ensures compliance with US GAAP in accordance with the local rate making process. (30%)
Assists in developing a top notch rates team.
• Supports and develops team members and provides flexible support to colleagues in the division or state, in other divisions or states, as
well as the Rate and Regulatory Services team.
• Provides assistance in building and maintaining the Rates Knowledge community and in developing best practices.
• Contributes to effective communication by listening and providing constructive feedback, supporting the creation of an open and honest work environment, and cascading and sharing knowledge and information relevant to other members of the team and colleagues across the business.
• Ensures continued staff development as complete rates professional including case preparation, testimony and external relations.
• Provides formal and informal advice, guidance and training to other functions as needed to increase rate and regulatory acumen throughout the business, and to advance the division or state business objectives. (15%)
Drives on-going improvements.
• Records process performance using established measures.
• Regularly reviews, measures and assesses activities to drive continuous process improvements and related goals.
• Provides tools and practices to optimize total process efficiency and effectiveness in accordance with corporate objectives.
• Implements Best Practices. (20%)



Knowledge/Skills

• Comprehensive and advanced knowledge of US GAAP, International Accounting Standards, SOX and other regulatory (SEC, state utility regulatory bodies, etc.) requirements and practices.
• Detailed understanding of the regulatory environment in the division or state and detailed knowledge of the utility regulations and tariffs in effect in the division or state.
• Demonstrated working knowledge of the national utility regulatory issues affecting the enterprise, and a detailed understanding of how the national utility regulatory issues are handled in the division or state.
• Demonstrated experience in managing and coaching direct reports and establishing career development plans by identifying development goals, milestones and measures.
• Excellent business understanding and personal credibility with business managers.
• Comprehensive knowledge of analysis techniques to apply to new and unusual activities.
• Advanced knowledge of corporate and utility accounting and reporting. Implementation and management of Process Improvement and Best Practices Programs.
• Development and management of on-going regulated and non-regulated compliance programs.
• Assistance in the formulation of corporate policies and procedures and compliance with such policies and procedures.
• Broad functional knowledge with advanced knowledge of financial and accounting systems and software, frameworks and functionality such as: Microsoft Office products, spreadsheet software, JD Edwards, SAP, Orcom, Hyperion or other ERP systems.
• Utility industry experience a plus.
• Understanding of state specific political and economic factors. Seasoned experience in rate case testimony. Highly experienced in working with stakeholders, including PSC, consumer advocate, legislative, municipal, and others, preparing written testimony and delivering oral testimony on complex and controversial issues.
• Experience covers multiple rate cases with amounts above $10 Million
  

Experience/Education

• Bachelor's Degree in Accounting or Finance or related field. Other degrees considered with directly relevant experience.
• MBA in Accounting or Finance Helpful.
• CPA, CMA or other technical license preferred.
• 10 years prior accounting related job experience required, including experience with full cycle accounting processes.
• 7 to 8 years prior experience in the utility industry and/or a shared service or multi-company corporation.
• 5+ years supervisory experience or equivalent required.
• Demonstrated experience in identifying process improvement opportunities and engaging in implementing improvements.
• Demonstrated experience in analyzing customer needs through soliciting, evaluating and acting upon customer feedback.
• Demonstrated experience in managing and coaching direct reports and establishing career development plans by identifying development goals, milestones and measures.
• Will have taken the lead role in a number of rate cases.
  

Travel Requirements

• 20%

Work Environment

• Standard office environment

Other

• State revenues (in single state and/or group of two smaller states) in excess of $75M or a highly complex operating environment as denoted by:
• District specific rates and filings covering 5 or more geographically diverse districts
• Need to negotiate and strategize with multiple parties: internal - legal, regional/division and corporate management; and external - commission staff and lawyers.
• Strong ability to collaborate with others internally and externally.
• Ability to effectively communicate and negotiate with and influence public utility and consumer advocate staff and other key stakeholders.
• Provide effective expert witness testimony in rate cases and other regulatory proceedings.
• Ability to work calmly and effectively under extreme pressure and deadlines.

Competencies


Decision Quality


Develops Talent


Drives Engagement


Plans, Aligns, & Directs


Prioritizes & Role Models Safety


Self-Awareness



Join American Water...We Keep Life Flowing™



American Water is firmly committed to Equal Employment Opportunity (EEO) and prohibits employment discrimination for employees and applicants
based on his or her age, race, color, pregnancy, gender, gender identity, sexual orientation, national origin, religion, marital status, citizenship, or because they are an individual with a disability, protected veteran or other status protected by federal, state, and local laws.




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