Design, document, maintain, monitor, record and report results associated with the cost allocation methodologies among the ITC affiliates. Assures cost assignment practices adhere to corporate policies and procedures and comply with regulatory guidelines.
ESSENTIAL DUTIES & RESPONSIBILITIES
- Designs, maintains and monitors multiple intra and inter-company allocations and affiliate cost assignment among ITC Holdings business entities; assures accuracy of related financial transactions; assures compliance with regulatory guidelines and requirements; collaborates with Regulatory Strategy department to mitigate regulatory risk and assist with regulatory compliance data requests
- Review cost allocation results to determine if amounts are accurately recorded to the proper business units and resolve any needed changes with appropriate departments.
- Review, improve and update cost assignment methodologies, logic and documentation regularly.
- Design, document, implement, modify and monitor internal financial controls in accordance with Sarbanes Oxley (SOX) requirements as they relate to the direct assignment and allocation of costs among affiliates.
- Perform ad hoc assignments related to reporting, financial statement review, cost allocation departmental planning, and other cost tracking reporting analysis.
- Utilize 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.
- Support 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.
- Reconciles accounts to assure proper accounting of transactions; resolve any related accounting issues.
- Other special projects and duties as assigned required for the benefit of the department or company.
- Bachelor's degree in Accounting or Finance or equivalent work experience.
- Minimum of five (5) years of experience in accounting.
- Certification as a CPA or CMA preferred.
- Utility accounting experiencepreferred.
- Advanced knowledge of Microsoft Excel.
- Intermediate knowledge of Microsoft Word, Microsoft PowerPoint and Microsoft Outlook.
- 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.
- Possess 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