What are the responsibilities and job description for the Regulatory Accountant position at SoCalGas?
Primary Purpose
Provides assistance in the implementation, accounting, 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 providing support 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 (CPUC). This position is also responsible for the maintenance of the regulatory account forecast and other reporting requirements associated with the Utility's regulatory accounts.
Duties and Responsibilities
Provides assistance in the implementation, accounting, 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 providing support 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 (CPUC). This position is also responsible for the maintenance of the regulatory account forecast and other reporting requirements associated with the Utility's regulatory accounts.
Duties and Responsibilities
- Prepares monthly regulatory balancing and memo account journal entries and other miscellaneous journal entries associated with the regulatory accounting process (e.g., revenue/cost accruals, intercompany account transactions associated with system integration, backbone transmission, and other Sempra-wide rate adjustments) while adhering to tariff language and CPUC decisions/settlements.
- Prepares monthly analysis and reporting on revenues, expenses, and other financial statement impacts.
- Provides assistance in the preparation of regulatory reports to the Commission and other external regulatory agencies.
- Provides assistance with SOX testing and preparation of data request responses from internal and external auditors under the direction of the Senior/Principal Regulatory Accountant.
- Provides support in the development of regulatory account forecasts for the Utility’s calendarized and 5- year financial plan. Ensures that the most current demand forecasts, gas prices, O&M forecasts, etc., are used in the Regulatory Account Forecasting Model..
- Provides assistance to the Senior/Principal Regulatory Accountant in the maintenance of the Corporate Strategic Database (CSD) to ensure the accuracy of processing of the gas revenues for regulatory accounting purposes. This includes maintaining the market segmentation of revenues for internal reporting purposes.
- Supports the implementation of new regulatory account requirements under the direction of the Senior/Principal Regulatory Accountant. Modifies regulatory account schedules and ensuring SoCalGas’ accounting system provides sufficient information for regulatory balancing account purposes.
- Provides support to the designated witness in regulatory proceedings before the CPUC, including but not limited to, assist in preparing workpapers and responses to data requests.
- Performs other duties as assigned (no more than 5% of duties).
- Bachelor's Degree Accounting, finance, economics, related field, or equivalent experience. Required
- 3 years Accounting, finance, or related experience (preferably in the utility business). Required
- Possess specialized knowledge regarding financial, accounting, and regulatory matters. Intermediate
- 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. Beginner
- Skills in leadership and teambuilding. Intermediate
- Able to organize, plan, control, coordinate, and effectively manage cross-functional assignments and projects. Beginner
- Able to convey complex technical information in a clear and concise manner to technical and non-technical audiences. Intermediate
- Possess negotiation and interpersonal skills to persuade and influence those with divergent opinions toward consensus. Beginner
- Knowledge of “generally accepted accounting principles.”. Intermediate
- Understanding of the interrelationship of “utility rate-making”, tax, and finance concepts. Beginner
- Must have the ability to interpret accounting and financial theories and apply them in problem solving. Intermediate
- Must have the ability to identify issues, analyze data, and develop, recommend and implement solutions. Intermediate
- Must possess initiative, decision-making skills and problem solving abilities. Intermediate
- CPA, CMA, MBA, and/or other professional certificates/advanced degrees. Preferred
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