Accountant

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.

The New York Independent System Operator (NYISO) applies cutting-edge technology to operating a reliable electricity system, managing competitive markets for wholesale electricity, and planning for the Empire State's energy future. The NYISO’s Finance department invites applications for a full-time Accountant.

This position is primarily responsible for the oversight of all functions associated with one or more of the following areas of accounting;

• Cash
• Accounts Payable
• Accounts Receivable – Market Operations
• Accounts Receivable – Interconnection Projects
• Accounting for Prepaid Expenses
• Accounting for Payroll and Benefits

In addition, this position will back up other department Accountants as required.

ESSENTIAL DUTIES and RESPONSIBILITIES

• Prepare journal entries and provide appropriate supporting documentation
• Prepare accurate account reconciliations for assigned general ledger accounts on a daily/and or monthly basis depending on the account.
• Prepare schedules for inclusion in the Monthly Financial Report and submit to Finance Management for review.
• Cross train other Accounting staff on area of responsibility and accept cross-training from other members of the Accounting team.
• Respond to inquiries from internal and external customers.
• Assist Management in the development of administrative policies and procedures.
• Provide suggestions to process enhancements along with improvements to internal control structure.
• Participate in coordination of internal and external audits.
• Maintain confidentiality of designated information.
• Assist with special projects as assigned.
• Perform basic clerical duties (i.e., filing, copying, faxing, etc.).

Cash

• Analyze and reconcile activity in bank accounts on a daily/and or monthly basis depending on the account.
• Prepare daily cash reconciliation schedules/reports and provide to management for review

Market Clearing Receivables & Payables:

• Process Market Participant accounts receivables and payables according to NYISO’s policies and procedures.
• Prepare basic reports for Market Participants’ receivables and payables activity.
• Perform daily cash status monitoring activities to accurately reflect NYISO and Market Participant cash balances and prepare reports for all bank accounts.
• Maintain records to support Market Participant’s tax status
• Coordinate issue resolution for foreign based Market Participants to ensure proper approval prior to entering the NYISO market.
• Invoice annual governance fees to Market Participants’ and coordinate with Committee Support to determine appropriate method of invoicing while ensuring accuracy of invoicing.
• Refund Working Capital Fund annual accumulated interest.
• Compute foreign tax withholdings on a monthly basis to facilitate the research and preparation of the annual Foreign Tax Filing for respective Market Participants.
• Prepare and evaluate Market Participants’ annual Working Capital Rebalancing
• Prepare and evaluate Market Participants’ Bad Debt Allocation as needed.
• Research and prepare Form 1099 for all Market Participants, as appropriate.

Planning Studies Receivables & Payables:

• Calculate and process planning studies invoices
• Process accounts receivables and payables payments according to NYISO’s policies and procedures.
• Prepare basic reports for Planning Studies receivables and payables activity.
• Perform daily cash status monitoring activities to accurately reflect NYISO and Planning Studies cash balances and prepare reports for all bank accounts.

Accounts Payable:

• Oversee the billing, invoicing, and reconciliation procedures for developers of Interconnection Studies.
• Coordinate with the Planning Department to regularly communicate the status of Interconnection Projects.
• Research and prepare Form 1099 for all independent contractors, as appropriate.
• Serve in a back-up role to generate payments to vendors according to approved policies.
• Generate weekly payment batches, address vendor and departmental questions and enter vendor information accurately into financial accounting software.
• Serve in a back-up role to determine amounts prepaid in advance of service month.
• Record prepayments and amortize expense on a monthly basis.

Qualifications include:

• Bachelor degree in Accounting, or with a concentration in accounting, required.
• Five years experience in accounting in a corporate setting, focusing on general ledger reconciliations, cash, accounts payable, and accounts receivable; or equivalent combination of education, training and experience.

ADDITIONAL REQUIREMENTS

• Ability to read, analyze and interpret general business periodicals, professional journals, technical procedures or government regulations.
• Ability to write reports, business correspondence and procedures.
• Ability to effectively present information and respond to questions from managers, vendors, Market Participants and the general public.
• The candidate must have the ability to calculate basic figures and amounts such as discounts, interest, percentages, etc.
• The candidate must have communication and interpersonal skills.
• Intermediate competency in Windows operating environment using MS Office applications, e-mail and internet programs. Co