What are the responsibilities and job description for the Accountant, Sr. or Lead (Transmission Revenues) position at ITC Holdings Corp.?
Job Summary
JOB DESCRIPTION
The Senior/Lead Transmission Revenue Accountant oversees and performs complex accounting activities related to the data collection, analysis, billing, and recording of transmission service revenues across multiple operating companies. This role leads and executes processes related to formula rate true-ups, regulatory accounting, settlements, and revenue requirement support. The position serves as a subject matter expert in transmission settlements, regulatory accounting, and Regional Transmission Organization (“ RTO”) related billing activities, ensuring accuracy, compliance, and effective communication with internal and external stakeholders.
Essential Duties & Responsibilities
Transmission Revenue Accounting & Analysis
Requirements
Education & Experience
Make a Power Move - For the Greater Grid: Reliable. Resilient. Ready.
As AI innovation, automation and economic growth reshape the way we live and work, the demand on our power infrastructure is growing fast. At ITC, we’re building the greater grid that’s ready for today’s technology and tomorrow’s possibilities.
Our people bring the power - fueling innovation and strengthening the grid every day. We’re looking for individuals who are ready to make a power move and help us build a greater grid for a more reliable and affordable energy future.
ITC offers industry-leading compensation, benefits and opportunities to channel your energy into solutions. We foster a culture of belonging - where every voice is valued, differences are celebrated and everyone has the opportunity to thrive. Make a power move today.
JOB DESCRIPTION
The Senior/Lead Transmission Revenue Accountant oversees and performs complex accounting activities related to the data collection, analysis, billing, and recording of transmission service revenues across multiple operating companies. This role leads and executes processes related to formula rate true-ups, regulatory accounting, settlements, and revenue requirement support. The position serves as a subject matter expert in transmission settlements, regulatory accounting, and Regional Transmission Organization (“ RTO”) related billing activities, ensuring accuracy, compliance, and effective communication with internal and external stakeholders.
Essential Duties & Responsibilities
Transmission Revenue Accounting & Analysis
- Prepares, analyzes, and reconciles monthly billed revenue, aspects of the formula rate true-up (including amortization of prior year true-ups), and other data relevant to transmission revenues and regulatory accounting.
- Ensures accounting processes produce accurate and complete data for revenue requirement calculations.
- Maintains and administers spreadsheets used to compute network and billing loads, including tracking historical load changes.
- Creates and manages revenue models for joint zone revenue distribution and billed revenue recording within the Midcontinent Independent System Operator (MISO) and Southwest Power Pool (SPP).
- Administers accounting and billing activities in accordance with legacy transmission revenue agreements.
- Leads and/or participates in the annual actual protocols process for MISO and SPP, coordinating with Finance and Regulatory teams.
- Develops and maintains spreadsheets to capture prior year formula rate true-ups, calculates interest, and supports administration of true-ups in current year billings.
- Supports management’s assessment of the company’s ability to apply regulatory accounting (Accounting Standards Codification 980 (ASC 980)), evaluates recoverability of regulatory and intangible assets, and ensures regulatory liabilities are properly recorded.
- Provides quarterly, annual, and ad hoc support for financial reporting, including Securities and Exchange Commission (SEC) filings (10 Q/10 K) and Federal Energy Regulatory Commission (FERC) forms.
- Ensures compliance with Sarbanes-Oxley controls and provides documentation for internal and external audits.
- Communicates with RTOs (MISO & SPP), transmission partners, customers, auditors, and other stakeholders regarding settlements and regulatory accounting matters.
- Coordinates with regulatory, legal, engineering, finance, and accounting teams to resolve settlements, regulatory accounting, and ratemaking issues.
- Anticipates and responds to internal and external stakeholder needs, providing education and support as required.
- Leads or contributes to process improvements for settlements and regulatory accounting activities.
- Identifies opportunities to streamline workflows, enhance reporting, and adapt to system or regulatory changes.
Requirements
Education & Experience
- Bachelor’s degree in Accounting, Finance, or related field; or equivalent experience.
- Minimum Level Requirements:
- Senior level: Minimum 5 years of relevant professional accounting experience.
- Lead level: Minimum 7 years of relevant professional accounting experience with increasing responsibility.
- Public accounting and/or utility industry experience preferred.
- Strong working knowledge of Federal Energy Regulatory Commission (FERC), Financial Accounting Standards Board (FASB), Generally Accepted Accounting Principles (GAAP), and Securities and Exchange Commission (SEC) authoritative literature preferred; Lead level expected to operate as a subject matter expert.
- Understanding of Sarbanes‑Oxley compliance and auditing requirements.
- Advanced proficiency in Microsoft Excel; strong skills in other Microsoft Office applications and financial systems.
- Ability to understand and interpret contracts as they relate to transmission revenue accounting.
- Strong analytical ability to identify, interpret, and resolve anomalies in data.
- Proven ability to manage multiple priorities, meet deadlines, and follow through on tasks.
- Effective communicator across functional areas and organizational levels.
- Ability to work independently or collaboratively as part of a team.
- Systematic, thorough, and consistent approach to work that supports broader organizational objectives.
- Demonstrated ability to lead initiatives (Lead level) and mentor others.
- 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.
Make a Power Move - For the Greater Grid: Reliable. Resilient. Ready.
As AI innovation, automation and economic growth reshape the way we live and work, the demand on our power infrastructure is growing fast. At ITC, we’re building the greater grid that’s ready for today’s technology and tomorrow’s possibilities.
Our people bring the power - fueling innovation and strengthening the grid every day. We’re looking for individuals who are ready to make a power move and help us build a greater grid for a more reliable and affordable energy future.
ITC offers industry-leading compensation, benefits and opportunities to channel your energy into solutions. We foster a culture of belonging - where every voice is valued, differences are celebrated and everyone has the opportunity to thrive. Make a power move today.