Principal Financial/Rate Analyst

Principal Financial/Rate Analyst

Salary

$122,468.00 - $153,085.00 Annually

Location

City of Pasadena, CA

Job Type

2025 - REGULAR FULLTIME 40+ HRS A WK

Job Number

26-178

Department

Water & Power

Opening Date

06/25/2026

Closing Date

Continuous

• Description
• Benefits
• Questions

Please note: This recruitment is open on a continuous basis until filled and may close at any time. First consideration will be given to applications received by July 23, 2026. Apply today!

The City of Pasadena Water and Power Department is seeking a Principal Financial/Rate Analyst with deep budgeting expertise, exceptional analytical capability, and a strategic, big-picture mindset to lead advanced financial, budget, and utility rate analysis. This position requires a proven leader who can effectively manage and guide the department's budgeting and utility rates functions, ensuring that financial decisions support long-term operational and capital needs. The successful candidate will lead the development, management, and implementation of utility budgets, rate structures, and cost-of-service studies to support the long-term financial sustainability of the department and its Capital Improvement Program (CIP). This position plays a central role in building and maintaining multi-year financial plans, evaluating the budgetary impacts of existing and proposed utility operations and capital projects and developing fiscally responsible alternatives to guide executive and policy-level decision-making. In addition, the incumbent will support both short- and long-term financial planning, conduct in-depth budget and rate analyses, and ensure that financial strategies align with departmental priorities, regulatory requirements, and community needs.

Key responsibilities include conducting complex financial analyses, preparing technical studies and reports, and presenting findings and recommendations to a variety of audiences, including management, stakeholders, public officials, and community members. objectives.

Ideal Candidate

The ideal candidate is a strategic, innovative, and team-oriented financial professional with advanced Microsoft Excel skills and expertise in developing, maintaining, and analyzing complex financial models. They are able to balance detailed financial analysis with long-term planning and deliver creative, data-driven solutions that support utility operations, rate development, financial forecasting, and organizational objectives.

Essential Functions

The ideal candidate will be expected to perform the following essential functions. For more detailed information, please review the job description for Principal Financial/Rate Analyst.

• Lead the annual budgeting cycle by coordinating timelines, advising on economic and cost drivers, gathering departmental inputs, and consolidating all financial plans into a comprehensive organizational budget.
• Monitor and analyze budget performance, including monthly and quarterly variance reviews, spending trends, and financial risks.
• Develop and maintain financial forecasts, updating projections based on actual results, operational changes, and market conditions.
• Prepare clear, actionable financial reports for senior leadership, including dashboards, variance analyses, and scenario models.
• Partner with department leaders to support financial planning, improve budget literacy, and ensure alignment with organizational goals.
• Identify cost-saving opportunities and lead initiatives to optimize spending without compromising performance.
• Ensure compliance with internal financial policies, accounting standards, and regulatory requirements.
• Manage budgeting tools and systems, ensuring data accuracy, process efficiency, and continuous improvement.
• Support audits by providing documentation, explaining variances, and maintaining audit-ready financial records.
• Contribute to strategic planning through financial modeling, business case evaluation, and long-term scenario analysis.
• Participate in preparing and implementing short and long-term financial plans for the Water and Power Department
• Participate in functions concerning public utility fiscal policy, financial planning, project funding and investments, bond financing, budgeting, accounting, auditing, and other financial and administrative studies.
• Prepare and present highly technical and financial studies and analyses to a broad spectrum of audiences. Conduct assigned department business with appropriate government entities, including federal, state, and local agencies.
• May represent the Manager of Utility Financial Services and the Assistant General Manager upon request; may supervise, plan, direct, or organize staff activities.
• Interact with City staff, financial consultants and auditors, Municipal Service Committee, legal counsel, and brokers; and perform other related work as assigned.

Qualification Guidelines

COMPETENCIES

The following list represents the core competencies needed for success in this position.

• Action & Results Focus- Initiating tasks and focusing on accomplishment.
• Attention to Detail- Focusing on the details of work content, work steps, and final work products.
• Informing- Proactively obtaining and sharing information.
• Customer Focus- Attending to the needs and expectations of customers.
• Project Management- Ensuring that projects are on time, on-budget, and achieve their objectives.
• Teamwork- Collaborating with others to achieve shared goals.
• Critical Thinking- Analytically and logically evaluating information, propositions, and claims.
• Industry Monitoring- Grasping the external political, economic, competitive, and social factors affecting the industry.

EDUCATION AND EXPERIENCE

• Graduation from an accredited college or university with a specialization in economics, accounting, finance, and/or business administration; AND
• Four (4) years of increasingly responsible experience in utility economics and financial planning, forecasting, and budgeting in a public utility organization or a similar agency.
• Master's degree in one of the aforementioned or similar disciplines is preferred.

SELECTION PROCESS

Selection is based on review of applications and supplemental applications submitted. Those who appear best qualified may be invited to any combination of an online written examination, in person performance and/or oral appraisal to further evaluate their job-related experience, knowledge, skills and abilities.

VACANCY INFORMATION

There is currently (1) one vacancy in the Finance and Administration division of the Pasadena Water and Power Department. The resulting eligible list may be used to fill this vacancy and similar vacancies in the future.

This position does serve a one-year probationary period.

Retirement:

The City of Pasadena contracts with the California Public Employees' Retirement System (CalPERS) to offer a defined benefits program for eligible employees.

"New" CalPERS members are subject to the provisions of the Public Employees' Pension Reform Act of 2013 (PEPRA) and receive the following benefit formula: 2% at 62

"Classic" members of CalPERS receive the following benefit formula: 2.5% at 55

Deferred Compensation:*

The City offers a 457(b) deferred compensation plan to help employees save for their retirement and supplement their CalPERS pension. Employees can defer salary with pre-tax or Roth after-tax deductions.

Health Insurance: *

The City contracts with CalPERS to offer several comprehensive health plans that include Health Maintenance Organization (HMO) plans and Preferred Provider Organization (PPO).

Other Benefits include: *

• Dental Insurance (HMO and PPO plans offered)
• Paid leave (holidays, sick leave, vacation leave)
• City-paid Life and Short-Tem Disability insurance
• Voluntary vision, life, accident, and critical illness insurance
• Medical & Dependent Care Flexible Spending Accounts
• Professional Development Allowance
• Free Employee Assistance Program
• These benefits may vary for employees whose FTE is less than .75 or work less than 30 hours per week.

01

Please note: A resume may NOT be submitted in lieu of a completed employment application, and a "see resume" response is not acceptable. You may attach a copy of your resume, but your employment history and other qualifications will only be considered from your application. Check the "yes" box to acknowledge this.

• Yes
• No

02

Select the option that best describes the years of experience you have in utility economics and financial planning, forecasting and budgeting in a public utility organization or similar agency.

• No experience
• Less than 1 year
• 1-2 years
• 2-3 years
• 3-4 years
• 4-5 years
• More than 5 years

03

Describe your work experience using Excel and Excel based models. Please provide examples of the specific work performed using Excel and any experience in developing worksheets/workbooks. If you do not have any experience in this area, please respond "no experience."

04

Describe your experience performing cost of services analysis and rate design studies including revenue requirements and recommended rate adjustments for water and power services or in a utility environment. If you do not have any experience in this area, please respond "no experience."

05

Describe your experience in developing operating and Capital Improvement Programs expenditure budgets and accompanying funding and implementation plans. If you do not have any experience in this area, please respond "no experience."

06

Describe your involvement in assisting in the development of short-term and long-term financial plans, including the development of workbooks, policies, and presentations. If you do not have any experience in this area, please respond "no experience."

07

Describe your involvement in preparation of annual budgets; monitoring and controlling the budget; forecasting revenues and expenditures; researching variances. If you do not have any experience in this area, please respond "no experience."

Required Question

Employer City of Pasadena

Address 100 N. Garfield Ave., Rm S135

P. O. Box 7115

Pasadena, California, 91109-7215

Phone (626) 744-4366

(626) 744-4366

Website http://www.cityofpasadena.net/humanresources