Who We Are
The Kennebec River Restoration Trust is an independent, nonprofit organization established to take ownership and oversee safe operations of four dams on the lower Kennebec River in Maine – Lockwood, Hydro-Kennebec, Shawmut, and Weston – and manage a multi-year river restoration and redevelopment process in close collaboration with local communities. The Board and staff of the Trust are committed to building enduring solutions that restore the ecological health of the Kennebec River and strengthen the region's economic vitality. Visit nature.org/Kennebec to learn more.
Summary of the Role
The Kennebec River Restoration Trust’s Chief Financial Officer (CFO) is responsible for developing and managing the financial operations of a newly incorporated organization, ensuring the organization’s financial health and sustainability. This individual will operate in a unique organizational structure – a 501(c)3 non-profit parent organization with a wholly-owned taxable subsidiary that owns, manages, and operates four hydroelectric generating stations – and needs to be familiar with both non-profit and for-profit accounting and financial management. The CFO will play a central role in completing the acquisition of the hydroelectric facilities, establishing the post-acquisition financial infrastructure, implementing accounting and reporting systems, and supporting the Trust through the multi-year river restoration and redevelopment process. This role will oversee all financial and investment management, accounting and audit, tax management and reporting, financial regulatory reporting, budget and financial forecasting, financial analysis and reporting, risk management and financial compliance requirements. As a member of the Trust’s senior leadership team, the CFO will work closely with the CEO and Board of Directors and will play a key role in organizational leadership including strategic planning, organizational development, and financial sustainability. This position will supervise additional finance staff (likely 1-2) to be hired after the CFO is onboard.
Key Responsibilities for Both Non-Profit Parent & Taxable Subsidiary
Accounting & Audit
- Oversee accounting and financial reporting for all legal entities, including the Trust and subsidiary operating entities, ensuring accurate intercompany accounting, consolidation, and reporting in accordance with operating agreements and compliance requirements.
- Oversee the preparation and review bookkeeping entries, account reconciliations, financial statements, reports, and financial models as needed.
- Oversee compliance with FERC, state utility, environmental, and other regulatory financial reporting requirements applicable to hydroelectric generation assets.
- Ensure alignment between financial reporting and broader organizational performance metrics.
- Develop financial tools and analyses to support decision-making by the senior leadership team and Board of Directors.
- Partner with the Chief Operating Officer (COO) to oversee financial management, accounting, reporting, and vendor relationships for major construction contracts.
- Oversee the investment of operating and longer-term liquid assets.
- Lead finance-related pre-acquisition compliance, integration planning, and post-merger integration activities.
- Maintain internal controls and oversee tax, accounting, and document retention policies.
- Oversee payroll, accounts payable, and accounts receivable functions.
Tax
- Protect and maintain the Trust's tax-exempt status through oversight of intercompany transactions, cost allocations, subsidiary governance, unrelated business income tax (UBIT) considerations, and compliance with IRS regulations applicable to nonprofit organizations owning taxable subsidiaries.
- Oversee all federal, state, and local tax filings and ensure ongoing compliance with applicable regulations.
- Coordinate with external tax advisors, auditors, and legal counsel on tax planning, structuring, and compliance matters.
- Ensure compliance with non-profit tax-exempt requirements, including oversight of Form 990 filings and related disclosures.
- Monitor and manage tax implications related to subsidiary entities, operating agreements, grants, and investment structures.
Financial Planning, Reporting & Analysis
- Serve as principal financial advisor to the CEO and Board, providing analyses, recommendations, and decision support related to capital allocation, strategic investments, financing alternatives, organizational sustainability, and risk management.
- Evaluate and forecast financial performance across projects, entities, budgets, and investments, ensuring compliance with applicable requirements.
- Oversee the collection, analysis, and presentation of financial data in clear, actionable formats for the senior leadership team and the Board.
- Develop grant and funding proposal budgets and prepare donor financial reports.
Treasury
- Manage cash flow ensuring the organization has enough cash to operate, meet payroll, pay vendors, and fund growth.
- Manage relationships with banks, lenders, and financial institutions.
- Oversee loans, lines of credit and other financing strategies.
- Plan for liquidity needs, forecasting future cash needs and making sure capital is available when needed.
- Advise Board of Directors on investment policy and manage investments accordingly.
- Support evaluation and oversight of participation in energy markets, renewable energy credit transactions, and hedging strategies, if appropriate, as organizational responsibilities are established.
- Monitor financial risks such as interest rates, currency fluctuations, insurance coverage, and fraud controls.
- Ensure treasury controls and policies around cash handling, wire transfers, approvals, and banking authority.
Other
- Work with fundraising team to understand fundraising needs based on analyses of current and future spending as well as known sources.
- Support applications for federal, state, and local funding and required reporting for those grants. Support FERC regulatory reporting.
- Understand and implement processes to ensure the organization's adherence to laws, regulations, guidelines, and specifications relevant to its internal business processes and organizational values.
- Manage relationships with external auditors and other financial service providers to ensure compliance with all reporting and regulatory requirements.
- Ensure proper risk management, including adequate insurance coverage at all levels.
Qualifications
- 15+ years of progressive finance and accounting leadership experience, including experience as CFO, Controller, Audit Partner, or equivalent senior leadership role.
- CPA required. MBA or other advanced degree preferred.
- Experience in nonprofit financial management and/or in regulated utility, energy or infrastructure finance.
- Strong leadership and management skills, with experience building and leading a team.
- Proven track record of successful financial management, including experience developing and managing budgets, implementing financial strategies, managing financial assets and overseeing financial reporting and compliance requirements.
- Ability to work as a productive member of a close-knit management team.
- Strong communication and interpersonal skills, with the ability to communicate financial information to non-financial stakeholders.
- Strong analytical, problem-solving, and decision-making skills.
- Experience with QuickBooks, general ledger, and other financial tools, databases, and systems.
- Experience collaborating with fundraising or development teams.
- Ability to operate independently, manage competing priorities, and meet deadlines.
Physical Requirements of the Job
The job requires working at a computer station for substantial lengths of time, performing office duties, and the ability to lift objects up to 10 pounds. The Trust will provide reasonable accommodation for employees with disabilities where appropriate. Determinations on requests for reasonable accommodation will be made on a case-by-case basis.
Workplace Environment
The Trust strives to provide a supportive work environment through fair and competitive compensation and benefits, up-to-date equipment and IT support, adequate supervision, and ongoing professional development. The work environment is friendly, fun, cooperative, and very fast-paced. Staff members need to be able to work independently and adapt to changing priorities. This work is supported by staff policy, training, and mentoring, and through fostering an organization that prioritizes fairness and respect.
Kennebec River Restoration Trust is an Equal Opportunity Employer.
Our commitment to equal employment opportunity includes the recognition that our mission is best advanced by the leadership and contributions of people of all backgrounds, beliefs, and culture. Recruiting and mentoring staff to create an inclusive organization is a priority, and we encourage applicants from all cultures, races, colors, religions, sexes, national or regional origins, ages, disability status, sexual orientation, gender identity, military, protected veteran status or other status protected by law.
