Job Description
Vermont Gas Systems Inc.
Position: Gas Supply and Regulatory Accountant
Location: South Burlington, VT
Position Summary:
Responsible for the calculation and analysis of gas supply costs, including reconciliation to third party bills, derivatives and foreign exchange transactions. Perform monthly, quarterly, and annual gas margin analysis to provide explanation of variances to management. Evaluate forecast models from Gas Supply department for company forecasts. Perform analysis and reconciliations of storage inventory, regulatory assets/liabilities and other gas supply related accounts. Assist with treasury functions.
Duties and Responsibilities:
1. Develop foreign exchange and commodity trade documentation for tax purposes. Evaluate and maintain spreadsheets for gas and foreign exchange derivatives. Ensure derivative positions comply with company risk management guidelines. Independently verify mark to market of counter parties.
2. Reconcile gas supply invoices, storage inventory, gas deferral, and other supply-related balance sheet accounts in accordance with gas supply contracts.
3. Prepare monthly gross margin analysis, including impact of unbilled revenues and unaccounted for supply. Communicate and explain variances to management.
4. Receives and reviews budget and forecast information of gas revenues and cost models from Gas Supply to place into the Company’s financial forecasting models. Communicate and explain margin and cost variances to management.
5. Support the monthly billing of interruptible customers. Assist in the completion of the annual commercial rate review to ensure that commercial customers are properly classified and are billed at the appropriate rate.
6. Provide support with data requests for regulatory filings related to company’s cost of service. Prepare monthly reconciliation of all regulatory assets and liabilities. Assure compliance with accounting or finance-related regulatory requirements.
7. Financial Reporting: Draft footnotes for VGS annual financial statements for areas related to regular duties. Complete monthly and annual reporting to the EIA, DOL, NEB, DPS, DOE, UPS, and Gaz Metro.
8. Responsible for maintaining accurate and timely accrual and payment of regulatory fuel and gross receipts taxes and Canadian gross sales taxes or refunds.
9. Reconcile DSM deferrals, including loan balances outstanding with any third party lenders.
10. Work closely with regulatory and supply staff to stay current on key supply and regulatory matters. Make recommendations to improve related accounting or reporting methods. Assist with regulatory filings related to the Company’s cost of service.
11. Provide assistance with treasury functions by monitoring cash balances in VGS, NNEEC, and NNEIC cash accounts, recommending changes to borrowings on VGS’ short term line of credit, and coordinating documentation with financial institutions. Initiates wire transfers for payment of gas commodity, gas transportation, and gas hedge invoices for approval by Accounting Manager and VP of Finance and Accounting.
12. Cross-trained to provide technical accounting support to other staff members.
13. Other duties as may be required or requested.
Job Requirements
Education and Experience:
- Bachelor’s degree in Business Administration, Finance, Accounting or related field.
- Minimum of five years progressive experience in various accounting/financial functions.
- Experience in hedging and risk management strategies is desirable.
- Advanced proficiency with complex spreadsheet applications and financial analysis tools.
- Utility accounting experience is desired.
- Strong project management and accounting software skills.
Vermont Gas is an Equal Opportunity Employer
Interested candidates can send their resume to [Click Here to Email Your Resum]
Details and applications can be found at www.vermontgas.com
Country: USA, State: Vermont, City: Burlington, Company: Vermont gas Systems Inc..
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