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Regulatory Accountant (Financial Examiner II-V)

Public Utility Commission of Texas

Location: Austin, TX US
Position Type: Full Time
Rqd Education: Bachelor's Degree
Rqd Experience: Less than 2 years
Date Posted: June 14, 2022
Reference Code:

Work with us and make a difference in Texas!

The Public Utility Commission is the state agency charged with regulating the state’s electric, telecommunication, and water and sewer utilities, implementing respective legislation and offering customer assistance in resolving customer complaints. We are committed to protecting customers, fostering competition, and promoting high quality utility infrastructure.

GENERAL DESCRIPTION

The PUC and the Rate Regulation Division is seeking a Regulatory Accountant who has a desire to work in the utility regulatory industry, with a strong initiative, who would like to put their expertise and interest to work performing performing routine to highly complex accounting work that includes reviews of rate change and other applications filed with the Commission.  Work involves analyzing utility reports, accounting records, contracts, and other pertinent information for compliance with accounting standards, state laws and Commission regulations, and reasonableness of costs.  Work under moderate to limited supervision with limited to considerable latitude for the use of initiative and independent judgment. 

ESSENTIAL FUNCTIONS

  • Review and analyze rate applications, earnings monitoring reports, and other cost, revenue, and sales information for regulated electric, telephone, and water and wastewater utilities and unregulated providers to determine appropriate accounting treatment, consistency with Commission rules, and reasonableness of costs.
  • Prepare written and oral expert testimony for use in contested proceedings including utility rate cases, cost of service appeals, formal complaints, Certificates of Convenience and Necessity (CCN), and Sale, Transfer, Mergers (STMs), and defend position under cross-examination.  Work closely with attorneys and other professional staff in the pre-hearing and post-hearing stages for contested cases.
  • Evaluate financial issues related to public utility companies, recommend fair rates of return on regulated utilities’ invested capital, recommend a cost of service, and determine financial integrity sufficiency for regulated electric, telephone, and water and wastewater utilities.
  • Review and make recommendations on accounting and cost-recovery issues in other Commission dockets and projects including tariff revisions, registrations and certifications, performance measures, and code of conduct compliance.
  • Conduct investigations of compliance with Commission rules and audits of expenses and revenues of utilities and unregulated service providers.
  • At the request of the Legal Division, participate in negotiations with representatives of electric, telephone, and water and wastewater utilities.
  • Participate in Electric Reliability Council of Texas (ERCOT) work groups or committees addressing issues relating to accounting, reasonableness of costs, and mechanisms for recovery of costs.
  • Participate in and lead rulemaking and other policymaking activities, in coordination with other divisions and with the Commissioners’ offices.
  • Respond to inquiries from utilities, legislative representatives, other government agencies, and the general public regarding utility rate and cost-recovery issues.
  • Prepare, in conjunction with other staff as necessary, reports as required by the legislature, Commission action, or as described by supervisors.
  • Work with the Compliance and Enforcement and Legal divisions to manage the enforcement of rules relating to electric, telephone, and water and wastewater utilities and the competitive markets.
  • Continue professional development and maintain knowledge of contemporary issues affecting electric, telephone, and water and wastewater utility rates and electric utility restructuring, including maintaining current knowledge of Texas laws and rules, Federal Energy Regulatory Commission (FERC) accounting rules, National Association of Regulated Utility Commissioners (NARUC) accounting guidelines, Federal Communications Commission (FCC) accounting guidelines, IRS rules, generally accepted accounting and auditing procedures, and accounting standards issued by the Financial Accounting Standards Board.
  • Demonstrate a spirit of teamwork, offering positive and constructive ideas, encouragement, and support to other members of the staff and team, while upholding the agency’s mission and core values.
  • Adhere to all agency personnel policies and division procedures and perform other work as assigned.

REQUIRED MINIMUM QUALIFICATIONS:

A degree is a minimum required qualification. Official or unofficial college transcripts must be submitted with the application.

  • Financial Examiner II: Graduation from an accredited four (4) year college or university with major coursework in accounting, economics, or finance. 
  • Financial Examiner III: Graduation from an accredited four (4) year college or university with major coursework in accounting, economics, or finance and a minimum of one (1) year of experience in utility accounting or finance, public accounting, or directly related work experience
  • Financial Examiner IV: Graduation from an accredited four (4) year college or university with major coursework in accounting, economics, or finance and a minimum of two (2) years’ experience in utility accounting or finance, public accounting, or directly related work experience
  • Financial Examiner V: Graduation from an accredited four (4) year college or university with major coursework in accounting, economics, or finance; a minimum of two (2) years’ experience in utility accounting or finance, public accounting, or directly related work experience; and an active Certified Public Accountant license.

PREFERRED QUALIFICTIONS:

  • Licensed Certified Public Accountant (CPA) or Certified Management Accountant (CMA).

TELECOMMUTING ELIGBIBILITY:

  • This position is eligible for telecommuting up to three (3) days a week but may require team members to come into the office for scheduled meetings, and there may be unscheduled requests with appropriate notice for any PUC business need.
  • If approved to telecommute, must have a secure workspace with reliable Internet service to perform duties, ability to maintain a reliable consistent work schedule and be available for weekly meetings and group collaboration via Microsoft Teams and other applications during regular business hours.
About this Employer‍

The Public Utility Commission of Texas (PUC) regulates the state's electric, telecommunication, and water and sewer utilities, implements respective legislation, and offers customer assistance in resolving consumer complaints. It does so while working to protect customers, foster competition, and promote high quality infrastructure.

The PUC was born in 1975 when the Texas Legislature enacted the Public Utility Regulatory Act (PURA) and charged the agency with providing statewide regulation of the rates and services of electric and telecommunications utilities.

As a result of deregulation and the institution of a competitive energy market, the PUC's mission and focus shifted from regulation of rates and services to oversight of competitive markets and compliance enforcement of statutes and rules for the electric and telecommunication industries, focused on ensuring customers receive the benefits of competition. For water and sewer utility service, however, the focus remains on the regulation of rates and services.

The PUC continues to perform its traditional regulatory function for electric transmission and distribution utilities across the state. Additionally, while integrated electric utilities outside of the ERCOT power grid remain fully regulated by the PUC, the PUC is increasingly involved in multi-state efforts to implement wholesale electric competitive market structures and transmission planning in the Southwest Power Pool (SPP) and Midcontinent Independent System Operator (MISO) areas.

In 2013, the Texas Legislature transferred the economic regulation of water and sewer utilities to the PUC. This transfer involved the functions with respect to the regulation of water and sewer rates and services, Certificates of Convenience and Necessity (CCNs) and Sale/Transfer/Mergers from the Texas Commission on Environmental Quality (TCEQ) to the PUC.

The agency is headquartered in the William B. Travis State Office Building at 1701 North Congress in Austin.