Accountant, Lead (Corporate Accounting)

Company: ITC Holdings Corp
Location: Novi
Posted on: March 17, 2023

Job Description:

Novi, MI, United States Job Identification 500326 Job Category Accounting Locations Posting Date 11/29/2022, 01:41AM Apply Before 12/30/2022, 10:00PM Job Schedule Full time Job Shift Day Job DescriptionJOB 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 Us At ITC, we're not your typical utility. Technology deployment and innovation are occurring at an accelerated rate within our industry - and ITC is leading the way.
    
    And we need employees who thrive in a fast-paced, learning environment, where every day is different from the next. Now is the time to join an industry that is in the middle of a transformation. Think of it this way: as we move toward a more electrified economy, the power grid needs to be transformed in a way that it hasn't been in 100 years.
    
    As a 19-years-young utility, ITC is creating the new norm for what a utility of the future is all about. Plus, we offer a competitive salary, outstanding benefits, a generous time off policy, and other perks that set us apart.
    
    Whether you are fresh out of college, eager to put your degree to work, or if you are in a mid-career job search, ITC offers great employment opportunities where you can make a difference.
    Performs technical accounting research activities in accordance with Generally Accepted Accounting Principles (GAAP), Securities and Exchange Commission (SEC) and Federal Energy Regulatory Commission (FERC) requirements. Helps identify accounting implications in support of regulated businesses as well as development initiatives. Performs accounting and financial reporting activities for retirement and postretirement benefit plans, share-based compensation accounting, derivative accounting, accounting for contingent liabilities and other technical accounting areas. The Associate Accountant participates in the accurate preparation of external financial statements and related information in compliance with Generally Accepted Accounting Principles (GAAP), Securities and Exchange Commission (SEC) and Federal Energy Regulatory Commission (FERC) and various state financial reporting requirements. Join ITC Holdings for our Summer 2023 Internship Program and gain valuable experience supporting accounting business objectives while gaining practical and real-world capability through challenging work assignments. Join ITC Holdings for our Summer 2023 Internship Program and gain valuable experience supporting accounting business objectives while gaining practical and real-world capability through challenging work assignments.

Keywords: ITC Holdings Corp, Novi , Accountant, Lead (Corporate Accounting), Accounting, Auditing , Novi, Michigan