Sr Accountant Defined Benefit Plan

Job Description

NRECA is a unique national trade association providing advocacy, financial services, and business support services to over 900 consumer owned electric cooperatives across the country.  NRECA employees are united by our mission, inclusive culture, collaborative workplace, and commitment to service excellence.  As a “best place to work” employer, we operate with integrity, transparency, and a spirit of innovation.

Summary of Position

NRECA’s Finance department manages the accounting, financial planning/budgeting, and procurement operations across a broad range of entities and businesses that support NRECA and its affiliated organizations, trusts, and other entities. We are a team of dynamic individuals collaborating across NRECA to implement best practices and provide innovative business solutions. We enable the good stewardship of member funds across NRECA by diligently embracing our core values of transparency and fiscal responsibility.

Primary accountant for the NRECA Retirement Security Plan, a defined benefit retirement plan for our cooperative members. Completes full cycle accounting and financial reporting duties and serves as the accounting liaison and financial advisor to the Insurance and Financial Services Department on matters related to the Retirement Security Plan. Ensures financial statements are GAAP compliant and completed in a timely and efficient manner. Assists with the overall tax compliance strategy including compliance with all federal and state regulations and filings. Directs the preparation of all financial reports and tax returns in accordance with GAAP, ERISA, and IRS code. Conducts in-depth review and analysis of expenses within the Insurance and Financial Services Department to ensure an accurate administrative bill is created and submitted.

Key Responsibilities:

• Oversees the full cycle accounting and financial reporting duties for the NRECA Retirement Security Plan. Applies best practices and accounting standards to manage the daily, monthly, quarterly, and annual accounting, financial reporting, audit and tax reporting requirements of the Retirement Security Plan. Oversees the monthly financial reporting process, executive dashboard reporting, key metrics reporting, budgeting, and Form 990T and 5500 preparations.
• Provides financial advice and analysis to key stakeholders within Finance and Insurance and Financial Services. Analyzes the monthly financial statements for the Retirement Security Plan. Identifies significant factors that are contributing to the financial performance of the Plan and reports to the I&FS senior staff. Serves as a business advisor through the delivery of quarterly financial forecasts and trend analysis as requested and required.
• Manages the planning and preparation of the Retirement Security Plan budget, including holding key stakeholder meetings to ensure the timely and efficient delivery of the annual budget.
• Supports permissible plan billing, including the reconciliations that leave a clear audit trail between NRECA’s accounting records and the amounts billed to the Plans, to ensure only permissible expenses are billed, in compliance with ERISA. Monitors and analyzes staff time charged to the Plans and investigates any unusual time charging trends, providing advice to managers and staff regarding the proper charging of time to the Plans. Supports the annual permissible expense audit as necessary and as required.
• Oversees annual audit schedules, GAAP financial statements, and ad hoc analysis pertaining to the Retirement Security Plan’s annual audit. Ensures the smooth and timely delivery of the audited financial statements to the Insurance and Financial Services Committee of the Board of Directors. Timely prepares and submits schedules, reports, and questionnaires, working directly with external auditors and internal stakeholders. Manages the preparation of the draft audited financial statements in accordance with GAAP.

Direct Reports to this Position:

N/A

Qualifications

Formal Education Required:

Bachelor’s degree in Accounting, Finance or a related field or an equivalent combination of education, training, and additional experience. Master's Degree preferred.
 

Experience and Certifications Required:

8 or more years of progressive accounting/finance/budgeting experience. Prior experience in Employee Benefit Plan Administration industry (Defined Benefit and Defined Contribution Retirement Plans and Health and Welfare Plans) and an in-depth knowledge and understanding of Generally Accepted Accounting Principals and ERISA regulations. CPA, CMA, or CFE license preferred.

FLSA Status:  Exempt

Knowledge, Skills and Abilities Required