Power Industry Jobs

The most used job board by electric power industry professionals.

Accountant, Lead (Corporate Accounting)

ITC Holdings Corp.

Location:
Position Type:
Rqd Education:
Rqd Experience: 5+ years
Date Posted: November 28, 2022
Reference Code: 500326
JOB SUMMARY

Oversees, maintains, surveys, instructs, advises and reports on cost assignment among ITC affiliates. Oversees and facilitates the semi-annual employee capital survey process for ITC. Assures cost assignment practices adhere to corporate policies and procedures, complies with regulatory guidelines and mitigates regulatory risk.

ESSENTIAL DUTIES & RESPONSIBILITIES
  • Oversees and monitors multiple intra- and inter-company (affiliate cost assignment) allocations among ITC Holdings business entities; ensures all related financial transactions are appropriate; assures compliance with regulatory guidelines and requirements; collaborates with Regulatory Strategy department to mitigate regulatory risk and assist with regulatory compliance data requests.
  • Reviews cost allocation results to determine if amounts are accurately being recorded to the proper business units and follows up with appropriate departments if changes need to be made; develops control procedures to investigate cost allocation results not properly assigned and communicates process changes where needed.
  • Updates cost assignment methodologies, logic and documentation as needed.
  • Leads efforts to administer and capture all necessary data and reporting to support the ITC semi-annual capital survey process; utilizes Wdesk software to facilitate and capture ITC requirements.
  • Leads efforts to update and administer quarterly, semi-annual and annual expense allocations including among others the Massachusetts (MASS) Formula, Control Center, Fixed Charge Process, NERC compliance.
  • Designs, documents, implements, modifies and monitors internal financial controls in accordance with Sarbanes Oxley (SOX) requirements as they relate to the direct assignment and allocation of costs between and among affiliates.
  • Performs and assists in data requests related to reporting, financial statement review, cost allocation departmental planning and other cost tracking reporting analysis.
  • Utilizes financial systems to perform the essential duties and responsibilities of the position to be able to assist the Accounting department in providing data and recommendations to support financial analysis.
  • Supports efforts for completion of the monthly general ledger closing process.
  • Supports compliance with corporate accounting policies and procedures.
  • Assists as needed with any upgrades to financial systems and any data conversions or validations; utilizes software applications and develops procedures for efficient and effective transaction processing.
  • Reviews accounts to assure proper accounting of transactions; resolves any related accounting issues.
  • Other special projects and duties as assigned. .

REQUIREMENTS
  • Bachelor's degree in either Accounting or Finance or relevant, equivalent experience and/or education
  • Minimum of seven (7) years of experience in accounting.
  • Advanced knowledge of Microsoft Excel.
  • Must have excellent verbal and written communications skills, including the ability to convey complex information clearly, concisely and effectively to individuals at all levels in the organization and with external auditors.
  • Possesses sound analytical problem-solving skills to resolve complex accounting and related issues.
  • Possesses sound documentation skills.
  • Ability to research and analyze various types of data.
  • Ability to work extended hours during peak periods to meet compliance driven deadlines.
  • Applicants must be authorized to work in the United States for any employer. ITC does not sponsor employment visas, such as H-1B or TN visas.
About this Employer

ITC, a Fortis company, is the energy industry’s leading electricity transmission company. We deliver bulk electrical energy from power generating plants along high-voltage lines to the local distribution system of utilities serving communities. We invest in power lines that will meet the needs of the 21st century.

As the only fully independent transmission company in the U.S., our business is not distracted by electricity generation or distribution. Transmission is our sole focus. As a result, we can concentrate fully on planning, building, operating and investing in high-value, highly-reliable electricity transmission to our customers and communities.

ITC owns and operates high-voltage transmission facilities in Michigan, Iowa, Minnesota, Illinois, Missouri, Kansas and Oklahoma. ITC’s grid development focus includes growth through regulated infrastructure investment as well as domestic and international expansion through merchant and other commercial development opportunities.