Monday , May 27 2024

SoCalGas Careers – Principal Regulatory Accountant

Website SoCalGas

Job Description:

Provides high level technical support to SoCalGas management in overseeing the implementation, maintenance, and reporting of SoCalGas’ Commission-authorized regulatory account mechanisms to ensure regulatory compliance, integrity of utility earnings, customer rate stability, and favorable cash flow. This includes assuming a lead role in regulatory proceedings involving the development and/or modification of regulatory account mechanisms, to ensure appropriate cost recovery from customers and to facilitate the implementation of the new regulatory accounting requirements as authorized by the Commission. Responsible for taking the lead role in the development and maintenance of the regulatory account forecast and variance reporting process for the Utility’s significant regulatory accounts.

Job Responsibilities:

  • Assumes the lead role in the implementation of new regulatory account requirements and assess the impact to the Utility’s current regulatory reporting procedures. Develops action plans to effectively communicate the new regulatory requirements to appropriate departments to ensure that the necessary changes are made to the Utility’s revenue system, Corporate Strategic Database (CSD), and any other data reporting systems.
  • Manages complex regulatory balancing and memo accounts, including analyzing and preparing appropriate monthly entries, reviewing regulatory account adjustments prepared by the Regulatory Accountants for accuracy and regulatory compliance, and analyzing/reviewing monthly financial impacts with subject matter experts.
  • Assumes the lead role in the development and maintenance of the regulatory account forecast provided in connection with the calendarized, Outlook, and 5-Year Financial Plans. Oversees the Regulatory Accountants’ efforts in this area to ensure the most current demand forecasts, gas prices, O&M forecasts, etc., are used in the regulatory account forecasts.
  • Informs Regulatory Accountants and Financial Planning of any unusual adjustments to the Utility’s regulatory accounts which may significantly impact shareholder earnings in a timely manner.
  • Performs other duties as assigned (no more than 5% of duties).
  • Assumes the lead role in implementing or modifying internal controls, as needed, to strengthen the financial/reporting integrity surrounding regulatory accounting transactions. Resolves any regulatory account issues with the Regulatory Accountant(s) to ensure integrity of utility earnings.
  • Serves as a witness and/or lead support in regulatory proceedings before the California Public Utilities Commission (CPUC) and the Federal Energy Regulatory Commission (FERC). Works with Regulatory Affairs, program management, and other departments, to respond to data requests and participates in audits as it relates to regulatory accounts.

Job Requirements:

  • Must have the ability to interpret accounting and financial theories and apply them in problem solving. Advanced
  • Possess negotiation and interpersonal skills to persuade and influence those with divergent opinions toward consensus. Advanced
  • Knowledge of “generally accepted accounting principles.”. Advanced
  • Possess a high level of specialized knowledge regarding financial, accounting and regulatory matters and is considered an expert/authority in these areas. Advanced
  • Skills in leadership and teambuilding. Advanced
  • Advanced understanding of the interrelationship of “utility rate-making”, tax, and finance concepts. Advanced
  • Must have the ability to identify issues, analyze data, and develop, recommend and implement solutions. Advanced
  • Able to convey complex technical information in a clear and concise manner to technical and non-technical audiences. Advanced
  • Full understanding of the “big picture” and ability to interpret accounting, regulatory and financial theories and concepts, and develop alternate solutions to the Company’s current business and regulatory issues to enhance competitive positioning and maximize customer and shareholder value.
  • Able to organize, plan, control, coordinate, and effectively manage cross-functional assignments and projects. Advanced

Qualification & Experience:

  • 8 years Accounting, finance, or related experience (preferably in the utility business).
  • Bachelor’s Degree Accounting, finance, economics, related field, or equivalent experience.

Job Details:

Company: SoCalGas

Vacancy Type: Full Time

Job Location: Los Angeles, CA, US

Application Deadline: N/A

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