Washington Gas Light Co. Sr. Benefits Accountant in Washington, District Of Columbia
Responsible for the accounting and reporting for compensation and employee benefits in accordance with Generally Accepted Accounting Principles (GAAP) and Federal Energy Regulatory Commission (FERC).
Tasks and Responsibilities
Establishes and reviews required journals; ensures journal entries are properly prepared, edited, and posted; and reviews transactions which form the basis to account for the Company's compensation and benefit plans. which could include Pension, OPEB, stock based compensation, paid time off, bonus accruals and other benefit related items.
Conducts analyses of financial transactions and explains variations from year to date and prior year results, and budgeted and forecasted amounts.
Performs reconciliations of balance sheet accounts related to benefit accounting and resolves any unreconciled items.
Participates in the preparation and detail review of both external and internal schedules/reports of monthly, quarterly, and annual basis.
Acts as liaison related to benefit matters for both internal audiences (Human Resources, Office of the General Counsel, Financial Reporting and Regulatory Affairs) and external audiences (actuary, external fund manager, auditors).
Coordinates the preparation of the annual GAAP Financial Statements for the Pension Plan, Retiree Medical Plan, HRA Plan and Group Life Plan (held in VEBA trusts), and 401K Plans. In addition, participates in the management of the audits for accurate and timely filing.
Participates in the formulation, determination and execution of Benefits Accounting policies and procedures.
Provides formal responses to inquiries or other information requested monthly, quarterly or annually by senior management, other business units, and internal and external auditors; and oversees the preparation of information furnished in the initial filing of rate case data and responds to data requests from the Commissions regarding benefit accounting.
Collaborates with actuary and senior management in formulating and determining updated benefit valuation assumption and in implementing the results of re-measuring the Company's benefit obligations.
Researches and recommends proper accounting treatment and related procedures for new employee/retiree benefits, benefit transactions, or newly created accounting guidelines issued pursuant to GAAP, the DOL, the SEC or the FERC accounting and financial reporting requirements; and gains and maintains a thorough knowledge of the terms of all Company employee/retiree benefit plans and the related policies and procedures.
Performs other special projects as assigned by the Manager, Benefits Accounting.
Qualifications, Skills and Abilities
Bachelor’s degree in accounting, finance or a related discipline.
Master's degree in accounting or finance preferred.
A minimum of 5 years of experience in an accounting function required.
Experience in benefits accounting, technical accounting or payroll accounting
CPA license preferred.
A master’s degree in accounting or a CPA license may be substituted for 1 year of the experience requirement.
Working knowledge of PeopleSoft General Ledger module and reporting tools, including nVision, Query, Crystal, and Clarity & Workday
Demonstrated working knowledge of GAAP. Experience interpreting and applying the requirements of Accounting Standards Codification (ASC) Topics 710 – 718 preferred.
General knowledge of SEC regulations and filing requirements, along with the FERC uniform system of accounts preferred.
Understanding of the regulated energy industry preferred.
Demonstrated ability to effectively communicate complex messages, both verbally and in writing, to diverse internal and external audiences at all organization levels.
Proven ability to use computer software and applications, including Microsoft Office, including Word and advanced features of Excel, to share, retrieve, research and present business information.
Demonstrated ability to establish rapport and effective working relationships with business partners, management and peers.
Demonstrated ability to analyze and interpret data and to identify relevant issues in solving business problems.
WGL is an EEO employer – M/F/Vets/Disabled
WGL Holdings, Inc. is a public utility holding company and the parent company of WGL, a diversified energy business that provides natural gas, electricity, green power, carbon reduction and energy services. Our calling as a company is to make energy surprisingly easy - for our employees, for our community and for all our customers. WGL and its affiliates are committed to equal employment opportunity and providing reasonable accommodations to applicants with physical and/or mental disabilities. We value and encourage diversity and solicit applications from all qualified applicants without regard to race, ethnicity, religion, gender, age, national origin, marital status. sexual orientation, gender identity, family responsibilities, matriculation, physical or mental disabilities, political affiliation, genetic information, status as a protected veteran or any other characteristic protected by federal, state, or local law.