The New York Independent System Operator (NYISO) manages the efficient flow of electricity on more than 11,000 circuit-miles of high-voltage transmission lines, dispatching power from hundreds of generating units across the state.
This position leads the organization’s daily financial reporting, regulatory reporting and budgetary analysis processes. Financial Reporting includes preparation and analysis of company financial statements in accordance with GAAP, as well as company financial statements in accordance with NYISO Tariff requirements, and benefit plan specific financial statements. Regulatory Reporting includes preparation of Internal Revenue Service tax returns, Federal Energy Regulatory Commission (FERC) financial reports, and other Federal and State financial reports.
In addition, this position is a leadership role for NYISO’s budget preparation and monitoring processes, working with NYISO’s business owners on analyses of spend patterns and budgetary funding needs. Interacts routinely with Manager of Accounting, Controller & Assistant Treasurer, and Chief Financial Officer positions. Occasionally supervises Accountants in their daily activities.
ESSENTIAL DUTIES and RESPONSIBILITIES ESSENTIAL DUTIES and RESPONSIBILITIES
- Prepare journal entries and provide correct supporting documentation
- Prepare account reconciliations for assigned general ledger accounts on a daily/and or monthly basis depending on the account.
- Prepare schedules for inclusion in Monthly Financial Report.
- Cross-train other Accounting and Senior Accounting staff on direct responsibility and accept cross-training from other members of the Accounting team.
- Assist Finance Management in the development of administrative policies and procedures.
- Suggest process enhancements along with improvements to internal control structure.
- Lead and participate in coordination of internal and external audits. Maintain confidentiality of designated information.
- Assist with special projects as assigned and complete other financial analysis and reporting, as requested.
Budget Preparation and Analysis Process:
- Coordinate all activities needed for development of NYISO’s annual budget.
- Compile budget requests from departmental representatives, and prepare financial analyses of budget trends and historical data.
- Manage the review of NYISO’s budget vs. actual monitoring processes.
- Obtain updated budget projections, trends, and other data from department representatives.
- Prepare budget vs. actual status reports for review by Senior Management and Market Participants.
- Prepare the monthly project budget vs. actual reconciliation and accordingly prepare the capitalized software entry that result from the reconciliation. Assist in the preparation for month-end close.
- Specifically review the prepaid and accrued expense schedules.
- Coordinate with Manager to prepare the annual income tax return (Form 990).
- Review with external auditors before submitting to IRS.
- Coordinate with Manager to prepare the annual Char 500 filing.
- Assist in the preparation of the annual and quarterly reports to FERC.
- Review annual report with external auditors before submitting to FERC Prepare annual census reports.
- Review with Finance Management prior to submission.
- Prepare excise sales tax filings.
- Review with Finance Management prior to submission.
- Lead monthly departmental Budget vs Actual reviews with management and senior leadership
- Record receipts of services in Financial Reporting software.
- Serve in a backup role to Senior(s) primary responsible for Financial Reporting.
- Serve in a backup role to present the monthly budget vs. actual report to NYISO’s Market Participants at monthly Business Priority Working Group (BPWG) meetings.
Financial Reporting and Regulatory Reporting:
- Coordinate activities needed for month-end close.
- Ensure all account reconciliations are performed and reviewed.
- Prepare monthly financial statements for Finance Management review.
- Perform variance analyses on key financial statement line items.
- Assist in the development of NYISO’s annual budget.
- Compile budget requests from departmental representatives and prepare financial analyses of budget trends and historical data.
- Research implications of new accounting pronouncements on NYISO’s financial statements, systems and procedures.
- Coordinate with Manager to prepare the annual income tax return (Form 990).
- Review with external auditors before submitting to IRS.
- Coordinate with Manager to prepare the annual Char 500 filing.
- Coordinate with Manager to prepare the preparation of the annual and quarterly reports to FERC.
- Review annual report with external auditors before submitting to FERC Prepare annual census and lobbying reports.
- Review with Finance Management prior to submission.
- Prepare excise sales tax filings.
- Review with Finance Management prior to submission Develop recommendations for debt financings and interest rate management.
- Coordinate with Finance Management to negotiate financing terms with NYISO’s lenders.
- Review loan and other financing documents.
- Prepare information required for financing approval petitions.
- Conduct certain treasury functions, such as monitoring compliance with debt covenants and preparing cash flow projections.
- Lead all activities required to complete the annual financial statement audit.
- Prepare monthly reconciliation and analysis of tax deferred 457b and tax deferred benefit plan (flex spending, dependent care)
- Prepare monthly benefit plan reporting (pension, post-retirement (VEBA) and 401k) to NYISO management and senior leadership
- Prepare semi-annual benefit plan reporting to NYISO Board of Directors.
- Review with Finance Management prior to submission.
- Lead annual external audits of the NYISO’s pension plan, 401k plan, and postretirement plan.
- Coordinate with Human Resources on the submission of annual DOL Form 550
- Oversee the coordination and recording of NYISO’s fixed assets schedule while working with the appropriate departments to ensure that NYISO’s fixed asset policies and procedures are adhered to.
- Record receipts of services in Financial Reporting software.
- Serve in a backup role to the Senior(s) primary responsible for the Budget Process.
EDUCATION
Bachelor's Degree (BS, Accounting) required; MBA highly desirable.
EXPERIENCE
Seven years accounting experience, including significant leadership of month-end close processes; demonstrated expert knowledge of generally accepted accounting principles (GAAP); extensive experience developing and monitoring complex corporate budgets; extensive or equivalent combination of education, training and experience.
CERTIFICATES, LICENSES, REGISTRATIONS
Certified Public Accountant (CPA) strongly preferred.
ADDITIONAL REQUIREMENTS
Ability to read, analyze and interpret common scientific and technical journals, financial reports and legal 3 documents. Ability to respond to common inquiries or complaints from market participants, regulatory agencies or members of the business community. Ability to write speeches and articles for publication that conform to prescribed style and format. Ability to effectively present information to senior executives, market participants, public groups and/or Board of Directors. Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, present value, quick ratios and other advanced finance calculations. Ability to apply concepts of basic algebra and geometry; ability to apply concepts such as fractions, percentages and ratios to practical situations. Ability to define problems, collect data, establish facts and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables Intermediate competency in Windows operating environment using MS Office applications, e-mail and internet programs. Knowledge of Oracle Financials desirable.
PHYSICAL DEMANDS PHYSICAL DEMANDS
While performing the duties of this job, the employee is regularly required to talk or hear. The employee frequently is required to stand, walk, sit and use hands to perform routine office tasks. The employee is occasionally required to reach with hands and arms. The employee must occasionally lift and/or move up to 15 pounds. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
WORK ENVIRONMENT
The noise level in the work environment is usually moderate. Contact with staff and public will occur. Travel may be required to attend and/or conduct meetings, conferences and training. This position may require work on nights, weekends or holidays. At the NYISO, we realize the importance of balancing the availability of remote work with the inherent value of bringing people together to attain success in the areas of maximum collaboration, relationship building and growth, teamwork, innovation and problem solving, as well as professional development and mentoring. In this role, you will be required to work onsite from our Rensselaer, NY location several days per workweek, with the option to work remotely on the remaining days. You will also be expected to respond to all business needs that may require any increase to the regular onsite requirements.
The NYISO takes pride in recruiting, developing and retaining highly talented individuals. In addition to competitive salaries, we offer a comprehensive benefits package and innovative reward programs.
All offers of employment will be made contingent upon the successful completion of a drug screening and background check.
The NYISO is an Equal Opportunity Employer and as such, does not discriminate in its hiring or employment practices
