Job at a glance
The New York Independent System Operator (NYISO) manages the efficient flow of electricity on more than 11,000 circuit-miles of high-voltage transmission lines, dispatching power from hundreds of generating units across the state. This position leads the organization’s daily financial reporting, regulatory reporting and budgetary analysis processes. Financial Reporting includes preparation and analysis of company financial statements in accordance with GAAP, as well as company financial statements in accordance with NYISO Tariff requirements, and benefit plan specific financial statements.
Regulatory Reporting includes preparation of Internal Revenue Service tax returns, Federal Energy Regulatory Commission (FERC) financial reports, and other Federal and State financial reports. In addition, this position is a leadership role for NYISO’s budget preparation and monitoring processes, working with NYISO’s business owners on analyses of spend patterns and budgetary funding needs. Interacts routinely with Manager of Accounting, Controller & Assistant Treasurer, and Chief Financial Officer positions.
Occasionally supervises Accountants in their daily activities. ESSENTIAL DUTIES and RESPONSIBILITIES ESSENTIAL DUTIES and RESPONSIBILITIES Prepare journal entries and provide correct supporting documentation Prepare account reconciliations for assigned general ledger accounts on a daily/and or monthly basis depending on the account. Prepare schedules for inclusion in Monthly Financial Report. Cross-train other Accounting and Senior Accounting staff on direct responsibility and accept cross-training from other members of the Accounting team.
Assist Finance Management in the development of administrative policies and procedures. Suggest process enhancements along with improvements to internal control structure. Lead and participate in coordination of internal and external audits. Maintain confidentiality of designated information. Assist with special projects as assigned and complete other financial analysis and reporting, as requested.
Budget Preparation and Analysis Process: Coordinate all activities needed for development of NYISO’s annual budget. Compile budget requests from departmental representatives, and prepare financial analyses of budget trends and historical data. Manage the review of NYISO’s budget vs. actual monitoring processes. Obtain updated budget projections, trends, and other data from department representatives.
Prepare budget vs. actual status reports for review by Senior Management and Market Participants. Prepare the monthly project budget vs. actual reconciliation and accordingly prepare the capitalized software entry that result from the reconciliation. Assist in the preparation for month-end close. Specifically review the prepaid and accrued expense schedules. Coordinate with Manager to prepare the annual income tax return (Form 990).
Review with external auditors before submitting to IRS. Coordinate with Manager to prepare the annual Char 500 filing. Assist in the preparation of the annual and quarterly reports to FERC. Review annual report with external auditors before submitting to FERC Prepare annual census reports. Review with Finance Management prior to submission. Prepare excise sales tax filings. Review with Finance Management prior to submission.
Lead monthly departmental Budget vs Actual reviews with management and senior leadership Record receipts of services in Financial Reporting software. Serve in a backup role to Senior(s) primary responsible for Financial Reporting. Serve in a backup role to present the monthly budget vs. actual report to NYISO’s Market Participants at monthly Business Priority Working Group (BPWG) meetings. Financial Reporting and Regulatory Reporting: Coordinate activities needed for month-end close.
Ensure all account reconciliations are performed and reviewed. Prepare monthly financial statements for Finance Management review. Perform variance analyses on key financial s