Manager, Accounting

Primary Role

This role oversees all financial control and accounting activities related to utility and non-utility fixed assets, including managing cost accounting, asset capitalization, depreciation and regulatory reporting. It ensures compliance with GAAP, regulatory and internal policies while supporting strategic financial planning and operational efficiency. Additionally, it develops cross functional relationships with operations, tax, regulatory and other areas of the organization to provide required support, analysis, and timely communication of fixed asset accounting matters. 

Important Information

Posted range is $81,120-$133,000

The base salary range represents a good faith salary range for this position. This position is eligible for annual incentive pay and has the opportunity for continued salary growth. If you are hired at American Water your base salary compensation will be determined based on factors such as market, geography, skills, education and/or experience. At American Water, we are committed to pay equity.

This position may be eligible for annual incentive pay and you will have the opportunity for continued salary growth. In addition to compensation, you will be offered a comprehensive benefits package including 401(k), Defined Contribution Plan, Employee Stock Purchase Plan, medical, prescription, dental and vision coverage, plus disability, paid time off, life insurance, voluntary benefits, health and wellness programs and much more!  American Water is also proud to offer employees learning opportunities and work experiences to grow professionally!

In addition to compensation, you will be offered a comprehensive benefits package including 401(k),Defined Contribution Plan, Employee Stock Purchase Plan, medical, prescription, dental and vision coverage, plus disability, paid time off, life insurance, voluntary benefits, health and wellness programs and much more! 

American Water is also proud to offer employees learning opportunities and work experiences to grow professionally! 

Key Accountabilities

• Manage accounting processes and associated analysis for all the Company’s fixed assets including capitalization, depreciation, additions, retirements, cost of removal, salvage, asset retirement obligations, AFUDC, impairments, journal entries and reconciliations in accordance with GAAP and state utility commission requirements.
• Collaborate with operations (including project managers, engineering), business and support function stakeholders to implement regulatory strategies as well as improvements to overall process and procedures and the recording and tracking of capital assets.
• Monitor construction work in progress (CWIP) and ensure timely transfer to plant-in-service.
• Interface with operations to ensure projects and work orders are set-up and closed timely and coded to the proper general ledger accounts.
• Supervise and provide mentorship and training to the plant accounting team. Foster a culture of accountability and continuous improvement.
• Support state regulatory processes by providing financial data and information for regulatory filings. Respond to regulatory financial data requests and provide financial testimony in rate case proceedings, as required.
• Lead external depreciation studies in conjunction with regulatory filings.
• Play an integral part of the Company’s financial planning process. Collaborate with operations and engineering to develop capital budgets; forecast depreciation expense and asset-related impacts on financial statements; and analyze actual vs. budget variances and provide actionable insights.
• Maintain fixed asset accounting policies, practices and procedures. Standardize accounting practices and procedures, where possible, to improve accuracy and efficiency.
• Keep current with emerging accounting and reporting guidance and trends including state regulatory, FASB and SEC standards and interpretations as it relates to Plant Accounting.
• Perform accounting research on plant and plant related issues and educate personnel to support appropriate accounting of fixed asset activities.
• Develop and maintain internal controls over plant accounting processes. Manage SOX control documentation for the department ensuring design and operating effectiveness of controls to appropriately mitigate risk.
• Initiates actions that lead to process improvements and efficiencies.
• Manage relationship with and provide support and information for financial reporting (SEC filings) and external and internal audit activities.
• Assist with special projects as needed and perform other duties as assigned.

Knowledge/Skills

• Strong organizational skills, attention to detail and the ability to prioritize and complete multiple projects in a timely manner.
• Demonstrated ability to manage complex tasks and issues
• Strong verbal and written communication skills.
• Strong interpersonal, analytical, problem solving and decision-making skills.
• An in-depth knowledge of regulated plant accounting, and regulatory reporting requirements.
• Knowledge of depreciation studies and asset retirements and the impact on depreciation and cost of removal rates throughout the company preferred.
• Knowledge of National Association of Regulatory Commissioners (NARUC) preferred. Knowledge of PowerPlan and SAP is preferred.

Experience/Education

• Requires BS/BA in Accounting or Finance or equivalent combination of education and experience. CPA or MBA desirable.
• Experience with regulated utility capital asset accounting & systems.
• Requires proven track record in plant accounting, public accounting, or regulatory environment.
• Requires proven ability to provide expert technical advice to others in an accurate and timely manner.
• At least 7 years of progressive accounting experience preferred.

Travel Requirements

• Minimimal
• Active State Driver's License required with the ability to pass a motor vehicle report.

Competencies