REGIONAL TRANSPORTATION DISTRICT CHIEF FINANCIAL OFFICER Position Description
Located in Denver, Colorado, the Regional Transportation District (RTD) is the region’s public transit agency created in 1969 by the Colorado General Assembly, connecting Denver residents through an affordable, safe, clean, reliable, accessible, and customer friendly community-oriented transportation network. As a nationally recognized leader, RTD provides public transit services, including rail, bus, access, and shuttle services across 2,400 square miles to 40 municipalities (3.1 million people) within eight counties including Boulder, Broomfield, Denver, Jefferson and parts of Adams, Arapahoe, Douglas and Weld Counties. RTD is governed by a 15-member, publicly elected Board of Directors each serving a four-year term.
The region prides itself on innovation, inclusion, multi-culturalism, diversity, and environmental sustainability and RTD’s vision is to further enhance the region’s quality of life as well as to augment the pattern of urban development throughout the region. RTD continues to develop dynamic programs to benefit both business and the community it serves, making RTD an important cornerstone for the Denver community.
In 2004, RTD embarked upon the nation’s largest public transportation capital expansion program. RTD has been steadily working on its commitment to deliver on this voter-approved program, known as FasTracks. While, circumstances have changed and budgets have been stressed with economic events occurring such as the 2008 recession, in 2019, RTD embarked upon a two-year “Reimagine RTD” effort. Even with this effort underway, uncertainties still exist with COVID-19 and other unforeseen factors arising.
As such, RTD is continuously listening to its communities’ needs and striving to find necessary funding and cost savings that will support creative transit solutions in order to uphold its commitment to provide safe, timely, affordable, convenient, accessible and equitable transit solutions to the entire region. By reimaging transit and creating a new vision, RTD is committed to supporting the economic engine that the greater Denver region has become while also being a key partner in social, economic, environmental, and sustainable development programs.
More details about RTD can be obtained by visiting the Agency’s website at www.rtd-denver.com.
SCOPE AND RESPONSIBILITIES:
The Chief Financial Officer (CFO) provides strategic leadership for RTD’s financial activities including financial planning, budgeting, forecasting, and accounting functions as well as its relationship with lending institutions, payers, and vendors. The CFO works as a key member of the senior leadership team to oversee, direct, evaluate, and transform all financial processes, procedures, and operations. The successful candidate will be responsible for assessing the agency’s financial activities and working with leadership to implement policies and procedures to improve financial processes to maximize efficiency and reduce waste.
The CFO’s responsibilities will include the following:
Engage with leaders in all departments to evaluate existing financial functions, systems, technologies, policies, and procedures to ensure best financial management practices are being utilized throughout the agency.
Monitor agency-wide financial performance by measuring and analyzing data, initiating corrective actions as needed, and putting in place processes to minimize the impact of variances across the organization.
Identify opportunities for increased efficiencies across the organization, innovative financing solutions for existing shortfalls, cost reductions, systems enhancements, and maintaining and strengthening capital reserves.
Meet with members of the senior leadership team on a regular basis to present an overview of RTD’s current financial status.
Consistently review budgets, forecasts, and receivables/revenue to address any shortfalls or gaps.
Work collaboratively with members of the executive leadership team to develop budgets that meet the needs of each department while also balancing and taking into consideration the overall financial needs of the organization.
Utilize data and input from every department to determine the agency’s financial needs and balance those needs with available and potential funding sources.
Provide expertise and leadership to support the development, execution and administration of annual operating and capital budgets.
Encourage innovation across the finance department in identifying and pursuing new grant opportunities, leveraging relationships at the FTA, and developing and identifying strategic financial opportunities, alternative funding methods, and public-private partnerships for RTD.
Work with the Board, its committees, and the GM/CEO to continually evaluate RTD’s long- and short-term financial objectives to develop comprehensive financial plans.
Provide counsel to the GM/CEO and Board of Directors on significant matters affecting agency finances and provide recommendations to strategically enhance financial performance and business opportunities.
Serve as an agency representative when needed before internal and external stakeholders on financial matters.
Prepare, maintain, and present budgets, forecasts, financial statements, and compensation model calculations to the GM/CEO and the Board of Directors on a regular basis.
Prepare financial forecasts and projections to determine the feasibility of new and existing services, facilities, capital projects, programs, joint ventures, legal entities, and other agency initiatives.
Direct financial activities to comply with Federal Transit Administration (FTA) guidelines and all other applicable laws and regulations.
Ensure that all financial systems are up-to-date and accurate to provide transparent and real-time information.
Ensure that RTD is prepared for any and all local, state, and federal audits including Triennial reviews.
Direct and coordinate contracting, reimbursement, accounting and general accounting including general ledger accounting, accounts payable, payroll, claims processing, cash handling and cash management.
Develop clear departmental policies, objectives and strategic priorities and ensure compliance for each management position reporting to CFO.
Provides mentorship, coaching and ongoing performance evaluations to direct reports that encourages growth, succession planning, stability, and longevity within the department.
Direct the hiring, training, supervision, and management of all department staff.
Empower and encourage employees to challenge the status quo, ask insightful questions about why decisions are being made, and seek innovative alternatives when appropriate to increase efficiency, transparency, and productivity in response to RTD’s financial state.
Performs all other job-related duties as assigned or directed.
KNOWLEDGE, EXPERIENCE, SKILLS AND ABILITIES:
The ideal candidate will have the following knowledge, experience, skills, and abilities.
Experience managing financial operations, budgeting, accounting, and funding opportunities for a public transit agency or other large complex organization with a detailed understanding of financial and budgetary practices.
Advanced knowledge of the principles and best practices in financial planning, budgeting, cash flow management, and accounting for a public entity.
Understanding of governmental regulations and reporting requirements as well as the funding and budgeting practices for large capital programs and infrastructure projects.
Demonstrated experience developing annual budgets, analyzing financial data to determine patterns and develop forecasts, preparing financial statements, and performing other quantitative and analytical duties.
Experience identifying and pursuing grant and other innovative and creative funding opportunities.
Ability to evaluate and lead the transformation of existing procedures, practices, systems and technologies as they relate to financial operations in order to maximize profitability, maintain financial stability, and provide high levels of service.
Skill in exercising a high degree of initiative, innovation, judgment, discretion, and decision making to achieve organizational objectives.
Ability to establish and maintain effective working relationships with CEO, Board of Directors, senior leadership, subordinates, peers, and the public, and create a work environment that encourages innovation, motivation, and high performance.
Demonstrated leadership skills managing and delegating responsibilities to staff and empowering employees to achieve departmental and organizational goals by fostering a work environment of respect, inclusion, innovation, and efficiency.
Ability to listen in all situations, challenge the status quo, find creative solutions, and perform well in stressful situations.
Excellent communication skills to convey consistent and clear messages and explain complex financial matters in a way that can be understood by all audiences.
A bachelor’s degree in business administration, public administration, finance, accounting or a closely related field from an accredited college or university is required, as well as at least ten years of executive management experience in accounting, treasury or finance. Transit experience and a high level of understanding related to the Colorado Tax Payers Bill of Rights (TABOR) or similar legislation is preferred. A master’s degree and CPA certification are preferred and professional experience in lieu of an advanced degree may be considered.
For additional information or to submit a cover letter and resume, please contact Gregg A. Moser at email@example.com.