Accounting Manager

Minnkota Power Cooperative   Grand Forks, ND   Full-time     Accounting
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Posted on September 16, 2020

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Accounting Manager

Minnkota Power is seeking qualified applicants for an Accounting Manager to be located in our Grand Forks, ND offices. This position directs the accounting function for Minnkota Power and is responsible for the management of the accounting department. This position maintains the accounting records, manages cash, and develops financial forecasts for the company. This position is also responsible for coordinating various duties associated with the Rural Utilities Service (RUS) and oversees the retirement and pension programs.

Essential Responsibilities:

1. Departmental Management Responsibilities a. Responsible for the direction of departmental initiatives, goals and objectives b. Responsible for providing support, direction and development of employees within their assigned department to achieve both short- and long-term initiatives c. Sets goals, monitors work, and evaluates results to ensure that departmental and organizational objectives and operating requirements are met and are in line with the needs and mission of the organization d. Oversees assigned cost center, budgeting, expense accounting, and payroll processes

2. Maintain accurate accounting records a. Prepare and review financial reports b. Coordinate general ledger closings including approval of general journal entries and other annual reporting/filing requirements c. Report financial results to management and board of directors d. Coordinate annual financial audits of Minnkota, Square Butte and Northern Municipal Power Agency e. Manage chart of accounts f. Monitor and implement regulatory accounting requirements g. Calculate allocation rates for labor overhead and stores expense as necessary

3. Cash management a. Recommend borrowing/investment options to management b. Monitor and approve borrowings on line of credit c. Develop cash flow projections

4. Financial Forecast and Budget a. Develop annual financial forecast for Minnkota to be presented to the Board and submitted to the RUS b. Develop ad-hoc financial forecasts as requested for various business decision scenarios c. Prepare and present quarterly budget variance updates including updated year-end projections for the current year d. Prepares and monitors budgets for revenue, Young 1 fuel, Coyote, accounting and fixed charges

5. Coordination with RUS a. Manage preparation of RUS loan applications and loan advance requests b. Manage drawing down of RUS loan funds c. Oversee development of construction work plan d. Review bondable addition documents

6. Oversees the administration of retirement and pension programs a. Performs duties as fiduciary to the various retirement plans, as appropriate b. With the Pension Investment Committee, coordinates and monitors investment managers and their performances, and ensures that retirement plan assets and documents are handled in accordance with all laws and regulations c. Acts as liaison between Minnkota and third parties (Thomas Weisel Partners, e.g.) d. Ensures that federal filings are made in a timely, thorough, and accurate manner

Organizational Competencies: • Safety • Integrity • Teamwork • Innovation • Reliability

Job Competencies: • Approachability • Comfort Around Higher Management • Decision Quality • Directing Others • Organizational Agility

Goals and Objectives: An employee filling this role is expected to meet changing and unique goals and objectives, as established by their supervisor, related to the broader area in which the employee is assigned.

Job Qualification Standards:

Education and Training

• Position requires a bachelor’s or master’s degree in accounting, business, or finance. A CPA license is desirable but not required. • Must maintain a valid driver’s license.

Experience

• Minimum 10 years of experience in accounting field; supervisory experience is preferred • Experience in financial statement preparation, budgeting, and forecasting

Minnkota Power Cooperative is an EEO/AAP/Female/Minority/Disabled/Veterans Employer