Regulated Industries Commission
Port of Spain
Job Description
Reporting to the Chief Financial Officer, the Utility Accountant is generally accountable for the conduct of highly professional work relating to analysis involving the operations and performance of service providers and for assisting in the accounting function of the RIC.<div><br></div><div>The Utility Accountant is primarily responsible for performing financial analyses on the records of service providers with a view to establishing the entities sustainability and compliance relative to established standards and regulations. The incumbent must also perform professional accounting work, including maintaining financial records, applying professional accounting principles and methods in the preparation of accounts and financial statements of the Commission, performing analytical reviews of various aspects of financial data, audits the work of the Accounting Officer, and maintains the fixed assets register.</div><div><br></div>
Key and Critical Responsibilities
<div>Regulatory Accounting</div><div><span style="letter-spacing: 0.4px;">1. Undertakes financial analysis with a view to the determination of rates for the service providers.</span></div><div><span style="letter-spacing: 0.4px;">2. Reviews service providers financial practices to ensures compliance with RIC orders, rules, regulations and policies.</span></div><div><span style="letter-spacing: 0.4px;">3. Carries out studies of efficiencies on specific operating aspects of service providers and prepares reports with recommendations for improvements.</span></div><div><span style="letter-spacing: 0.4px;">4. Reviews and evaluates regulated utilities financial reports, performs trend analyses, determines annual rate of return, and assists in the compilation of the RICs annual statistical report.</span></div><div><span style="letter-spacing: 0.4px;">5. Designs regulatory financial templates for completion by service providers to ensure that they follow a standard format and that relevant regulatory data is adequately captured.</span></div><div><span style="letter-spacing: 0.4px;">6. Assists in the formulation of accounting standards and practices for service providers.</span></div><div><span style="letter-spacing: 0.4px;">7. Performs targeted audits on service providers in accordance with the Commissions work programme.</span></div><div><span style="letter-spacing: 0.4px;">Internal Accounting</span></div><div><span style="letter-spacing: 0.4px;">8. Prepares monthly management accounts showing variances between budgeted and actual expenditure for verification by the Chief Financial Officer.</span></div><div><span style="letter-spacing: 0.4px;">9. Checks journals produced by the Accounting Officer prior to entering on the automated general ledger records and closes off the monthly and yearly accounts on the accounting system.</span></div><div><span style="letter-spacing: 0.4px;">10. Assists in the preparation of the annual fiscal budget and prepares monthly fiscal returns for submission to the Ministry of Finance.</span></div><div><span style="letter-spacing: 0.4px;">11. Prepares initial drafts of the Commissions trial balance and financial statements for subsequent verification by the Chief Financial Officer.</span></div><div><span style="letter-spacing: 0.4px;">12. Maintains the Commissions fixed assets register.</span></div><div><span style="letter-spacing: 0.4px;">13. Handles all transactions relative to the administration, purchase and disposal of all RICs vehicles and ensures the maintenance of the RICs vehicles.</span></div><div><span style="letter-spacing: 0.4px;">14. Performs other related duties as may assigned from time to time.</span></div><div><br></div>
Key Competencies
Minimum Acceptable Academic/Technical/Professional Qualifications<div><span style="letter-spacing: 0.4px;">A First degree in Business Administration/Accounting/Finance or related discipline OR</span></div><div>ACCA qualification or other related recognised professional training</div><div><span style="letter-spacing: 0.4px;">Minimum Number of Years of Relevant Experience</span></div><div><span style="letter-spacing: 0.4px;">Minimum of three (3) years experience in accounting or finance and/or auditing</span></div><div><span style="letter-spacing: 0.4px;">Specific Skills/Experience and/or Knowledge</span></div><div><span style="letter-spacing: 0.4px;">Excellent interpersonal and communication skills</span></div><div>Efficient time management skills</div><div>Results oriented and ability to meet deadlines&nbsp;</div><div>Ability to plan, organise and perform duties with minimum supervision</div><div><br></div>