Commonwealth Utilities Corporation officials led by Executive Director Kevin Watson and the new chief financial officer, Betty Terlaje, pose for a photo with employees during the CNMI government’s Labor Day festivities on Sunday.
THE Commonwealth Utilities Corporation’s new chief financial officer is Betty Terlaje.
The CUC board on Thursday unanimously voted to offer her the position after an executive or closed-door session.
The next day, Friday, CUC Executive Director Kevin Watson announced to CUC employees that Terlaje is the new CFO in compliance with the federal stipulated order.
In a brief interview on Sunday, Terlaje said, “My primary focus now is the strategic financial growth of CUC.”
Before accepting the CFO position, Terlaje was CUC’s chief of administration and was the acting executive director until June 2024. Her background is in finance and accounting.
“We got to look for innovative ways to recover the funds we need, to keep CUC stable and allow it to grow its investments whether it’s capital or infrastructure, and in ways that we could be more efficient so that we can pass any savings onto our customers,” Terlaje said.
On July 24, 2024, the CUC board of directors authorized its chair to make an offer to “Applicant No. 2” for the position of chief financial officer with an annual salary of $145,000 plus standard benefits and relocation expenses.
Applicant No. 2 is from Guam and a certified public accountant with a background in utilities. Applicant No. 2, however, rescinded her application, Variety learned.
An applicant for the CFO position must have a bachelor’s degree in accounting, economics, financial management, public or business administration from a U.S.-accredited institution or one with equivalent accreditation.
In addition, he or she must have 10 years of professional experience in governmental or financial accounting, including experience in a supervisory and/or management position.
A certified public accountant or certified management accountant is also “highly desired” for the position.
