Accountant, Sr (Actg Plcy/Res) at ITC Holdings in Novi, Michigan

Job Description:

JOB SUMMARY

Performs technical accounting research activities in accordance with Generally Accepted Accounting Principles (GAAP), Securities and Exchange Commission (SEC) and Federal Energy Regulatory Commission (FERC) requirements. Helps identify accounting implications in support of regulated businesses as well as development initiatives. Performs accounting and financial reporting activities for retirement and postretirement benefit plans, share-based compensation accounting, derivative accounting, accounting for contingent liabilities and other technical accounting areas.

ESSENTIAL DUTIES & RESPONSIBILITIES 

• Supports the accounting research function for new transactions, including complex transactions such as leases, financial instruments, consolidations and joint ventures; documents conclusions in accounting research and policy memoranda. 


• Participates in the implementation of new accounting pronouncements including participation in cross-functional teams to assess the impact of and implement new accounting guidance. 


• Performs accounting and financial reporting for retirement and postretirement benefit plans; works as a key team member to develop assumptions for actuarial valuations, coordinates with actuaries, and participates in the preparation and audit of the employee benefit plans.


• Performs accounting and financial reporting for other complex technical accounting areas including share-based compensation, derivatives and hedging, contingent liabilities, leases, and others.


• Provides support to parent company, Fortis Inc., on complex accounting matters, implementation of new accounting standards, and ITC's accounting policies for various technical areas.


• Performs initial review of new contracts to assess financial and accounting implications, including embedded derivatives, and leases to ensure accounting is in accordance with GAAP and FERC standards.


• Assists with assessing and implementing technology solutions to support the accounting for complex transactions, as needed.


• Supports/coordinates Sarbanes Oxley compliance for certain accounting and research areas. 


• Supports special projects and ad-hoc requests as needed.

REQUIREMENTS 

• Bachelor's degree in Accounting or Finance or relevant, equivalent experience and/or education.


• Minimum of five (5) years of experience in accounting with increasing level of responsibility. 


• Public accounting experience preferred.


• Accounting research experience preferred.


• CPA preferred.


• Experience with Sarbanes Oxley compliance preferred.


• Ability to research and analyze various types of data; highly organized and attentive to detail.


• Proficient knowledge of FASB, GAAP and SEC authoritative literature.


• Strong written, verbal, and interpersonal communication skills.


• Possesses sound analytical problem-solving skills to resolve complex accounting and other issues.


• Above average ability to utilize technology to complete daily assignments


• Above average knowledge of Microsoft Excel and financial systems


• 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.