Senior Manager, Technical Accounting

Technical Accounting (TA) reviews and confirms conclusions of the US GAAP accounting by the company for all its contracts and non-standard transactions that could have a potentially material impact to the consolidated financial statements of the company. These conclusions result from critically analyzing, questioning and discussing memoranda submitted by the local business TA leads and local Controllers and thoroughly reviewing any associated contracts in English. TA also promotes consistent accounting interpretations across the company by actively monitoring, understanding, applying and sharing examples from other SBUs proactively or as needed. In addition, TA develops the US GAAP accounting policies of the company and is responsible for US GAAP training at the company.

This is an excellent opportunity to be part of a global leader in energy.

The Sr. Manager Technical Accounting will:
-Perform independent research of complex accounting transactions, prepare as well as review technical accounting memos submitted by local businesses based on a wide variety of topics, and provide feedback in a timely manner.
-Support internal and external audits.
-Build strong relationships with cross-functional groups (e.g., Commercial, Treasury, Development, M&A, etc.) along with counterparts within the local businesses. This individual is also expected to develop Company-specific and industry knowledge in order to be identified as a point of contact for accounting issues and in support of the various deliverables and delegate work as appropriate.
-Lead due diligence and transaction reviews from an accounting standpoint in support of the M&A process.


PRIMARY RESPONSIBILITIES:

• Research, document and review complex accounting transactions including those related to derivatives, revenue arrangements under ASC 606, leases under ASC 842 and consolidation accounting, among others.
• Review documentation and research performed by others to ensure conclusions are fully researched, supported and consistent with precedent-setting global conclusions.
• Assist the technical accounting teams in each business unit by providing timely accounting analysis for proposed transactions as well as recommendations on deal structure as required to support the decision making by the M&A team and Senior Leadership.
• Consult in design of transactions to achieve the desired earnings impact within GAAP guidance.
• Provide supervision and leadership to more junior technical accounting staff.
• Timely identify and effectively communicate/resolve issues to avoid financial statement errors.
• Stay up to date on new accounting pronouncements and relevant GAAP issues, evaluate how they may impact the Company and ensure relevant information and accounting changes are provided to other departments when it impacts them.
• Interpret accounting policies as well as propose and review changes to accounting policies.
• Prepare or participate in preparation of certain footnote disclosures for public financial statements.
• Participate in the review of financial statements for external filings required by legal agreements and local laws and regulations on a consistent basis.
• Manage discussions with engagement level partners and national office/professional practice directors and external auditors and/or consultants.
• Develop and maintain adequate SOX compliance as it relates to technical accounting.
• Assist in special accounting projects as assigned.

The Sr. Manager Technical Accounting regularly makes judgments and interpretations in the following highly technical areas of US GAAP:

• Identify when agreements to physically deliver electricity, fuel or other commodities are standalone derivatives, contain embedded derivatives requiring bifurcation, and/or contain lease elements.
• Assess when contracts represent variable interests that allow one party to direct significant activities resulting in a variable interest entity (and, if so, affects who is the primary beneficiary). Alternatively, if voting interest model is used, evaluate any rights the non-controlling partner may have that would preclude consolidation.
• Impairment of assets (including recoverability and/or fair value testing with little/no observable inputs).
• Accounting for business combinations and asset acquisitions (of voting and variable interest entities).
• Accounting for sales of all or some interests in businesses (many of which are in-substance real estate).
• Complex debt and equity transactions (including project financing and identifying embedded derivatives).
• Revenue recognition; regulatory accounting and issues; functional currency determination/translation.
• Understand and interpret the impacts to the Company (and the Power & Utilities industry) of new and major guidance expected to be issued.

QUALIFICATIONS:

• Must have a Bachelor's degree in Accounting/Finance/Business or a related field from an accredited college or university.
• Certified Public Accountant with active license in the United States or equivalent.
• Must have a minimum of seven (7) years of progressive experience with a publicly-traded company under US GAAP and/or with a Big 4 firm auditing (preferably with a concentration in technical accounting) publicly-traded companies under US GAAP.
• Extensive experience in highly technical accounting areas.
• Energy/utility company industry accounting and/or audit experience preferred.
• Excellent written, oral communication and presentation skills (especially for an executive-level audience), interpersonal skills and time/project management skills.
• Must be proficient in personal computer skills and have strong research, interpersonal and project management skills.
• Self-motivated and able to work in a team with limited supervision.
• Strong analytical skills.
• Must exhibit in-depth knowledge of US GAAP and be able to understand and interpret complex accounting guidance.