REGULATORY ACCOUNTANT

JOB TITLE: REGULATORY ACCOUNTANT

LOCATION: ACCOUNTING AND FINANCE/BANGOR

REPORTS TO: MANAGER, FINANCIAL REPORTING

POSITION STATUS: EXEMPT, NON-BARGAINING UNIT

Be a part of the team that is transforming the power industry of northern and eastern Maine. Versant Power is building on our 100-year history of delivering efficient, safe, and reliable electricity service to customers in northern and eastern Maine. We never lose sight of safety, quality, integrity, and innovation.

We are committed to our dedicated people, who inspire us every day to deliver something more powerful than power alone.

POSITION OVERVIEW:

The Regulatory Accountant is responsible for assisting with the Company’s month end close process and monthly financial reporting, financial analysis, and the timely and accurate preparation of all regulatory financial filings. This role must demonstrate an understanding of regulatory and GAAP accounting and apply this knowledge in the preparation of journal entries and reporting.

JOB RESPONSIBILITIES:

• Applies the principles, concepts, and practices of Generally Accepted Accounting Principles (GAAP) and Federal Energy Regulatory Commission (FERC) accounting rules to ensure accounting transactions are recorded correctly and financial results are properly reflected in the financial statements.
• Participates in the five business day month end close process by preparing journal entries and applicable supporting schedules.
• Prepares variance analysis for internal use; including monthly analysis of financial results as compared to prior periods and analysis of changes in balance sheet accounts.
• Reconciles various General Ledger FERC accounts on a monthly/quarterly or annual basis, identifies and records any corrective actions needed.
• Prepares quarterly and annual regulatory financial reporting filings to the FERC and the Maine Public Utilities Commission.
• Assist in accurate and timely entering of daily wire and ACH transactions.
• Maintains accounting controls and financial security by following policies, procedures, and internal controls.
• Supports internal and external audit related activities by preparing workpapers and reconciliations, explaining processes and controls, and responding to requests.
• Gains and maintains a thorough understanding of the department’s job critical software and accounting systems, with problem solving capability. Able to design and run accounting reports to assist with reconciliations, variance analysis, and other department needs.
• Critique flow and efficiency of accounting processes, develop, and recommend solutions, as needed.
• Performs other ad hoc accounting, financial, or administrative tasks as may be required from time to time.

QUALIFICATIONS:

• Bachelor’s degree in Business Administration, Accounting, or Finance required.
• Minimum three to five years of accounting experience preferred.
• Strong knowledge of US GAAP and FERC Uniform System of Accounts preferred.
• Working knowledge of financial methodologies and the ability to understand the financial impact of business decisions required.
• Strong analytical skills and ability to independently analyze accounting transactions and financial statements required.
• The candidate should be proficient in the use of the Microsoft Office Suite, with emphasis on Excel and Word.

PERSONAL QUALITIES:

• Self-motivated and can work well in a team, deadline driven environment.
• Able to deliver accurate and timely results.
• Strong analytical skills, attention to detail and a “can do” mindset are required for this position.

NOTES:

• Position is primarily sedentary. Some walking, standing, and driving required.
• Position requires strong oral and written communication skills.
• Position requires strong interpersonal skills.
• Position requires visual and mental concentration.
• Position can be stressful due to deadlines and multitasking requirements.

Versant Power is a tobacco-free, drug-free and fragrance-free workplace.

Versant Power is an Affirmative Action and Equal Opportunity Employer.

Posted: 12/03/2024