Accountant I (812060735)

Responsible for timely and accurate collection of invoices, payment of remittances, and detailed settlement analysis pertaining to TXU PM’s wholesale business. Other duties include the actualization of pipeline volumes, payment of transportation invoices, the reconciliation of assigned counterparty accounts, and the preparation of journal entries as required by assigned duties. Department supporting duties include responding to internal and external data requests with supervision from the department manager and team lead.


ESSENTIAL DUTIES AND RESPONSIBILITIES
Additional duties may be assigned, but will include the following.
In this position, either directly or through others, the incumbent will:

• Provide service to assigned TXU PM’s wholesale gas accounting department internal and external clients
• Be responsible for the actualization of assigned pipeline volumes, providing support to ensure timely and accurate billing and payment processes;
• Be primarily responsible for resolution of any assigned pipeline volume issues with traders, schedulers or third parties pipes.
• Balance assigned pipelines and interconnects with a goal to eliminate Unaccounted for Gas volumes;
• Prepare payment support documents for purchases and sales according to established procedures which ensure adherence to key accounting controls
• Reconcile Accounts Payables and Accounts Receivables by counterparty to ensure accounting records accurately reflect TXU PM’s business;
• Complete special projects as assigned and under the supervision of the department manager or team lead
• Perform duties specific to the Ercot trading business to support the payment processes.


Qualifications:
EDUCATION/EXPERIENCE
The minimum education requirements are:
• Bachelor’s degree in accounting and/or finance

The minimum experience requirements are:
• Basic knowledge of the financial closing process and monthly/quarterly cycles
• Possesses general knowledge of policies, procedures, regulations, codes, standards and current technologies
• Basic understanding and knowledge of generally accepted accounting principles
• Ability to understand and follow oral and written instructions
• Excel, Word and PowerPoint application skills

Preferred education and experience requirements:
• Experience or exposure to demands and accountabilities of the accounting and finance area
• Good communication skills (listening and speaking)
• Experience with journal entry preparation, account reconciliations and financial statement preparation and analysis
• Good analytical and problem solving skills
• Proficiency in Excel spreadsheet functionality.

PHYSICAL/MENTAL DEMANDS AND WORKING CONDITIONS: This position requires the ability to perform the essential duties and responsibilities in the following environment:
• Occasional long, irregular hours.
• Use of a PC, computer terminal and/or telephone over 8 hours a day.
• Frequent travel between company facilities; occasional overnight travel.
• Occasional bending, twisting, crouching, pulling, pushing, and/or reaching to access job-related materials.
• Open workspace office environment.

SKILLS AND COMPETENCIES The following knowledge, skills and capabilities must be demonstrated at a proficient level:
TXU North America Competencies

Leadership – Building out the organization’s vision and business model. Defining objectives, which contribute to the ability of the organization to meet its business goals. Honoring the TXU core values. Attracting, retaining and developing a diverse and capable workforce.
 Incorporates TXU’s vision and values in all aspects of job
 Begins to understand management’s longer term vision of the future
 Develops a growing understanding of the merchant energy business model and its impact on own work
 Contributes to a high performance work team – i.e., motivational, high morale, shared sense of achievement, respect for diverse backgrounds and opinions, accountable and empowered

Stakeholder Focus – Establishing a customer - and other stakeholder-centered environment. Exceeding the needs of customers and other stakeholders through intuition, understanding, and responsiveness.
 Actively contributes to a “customer-focused” environment: applies intuition and active listening to consistently exceed customer expectations
 Learns how to use multiple sources of customer/ stakeholder input; supports gathering of market data

Operational Excellence – Striving for excellence through enhancing business methods, products and services, and technology. Seeking new and better ways of doing things. Creating a learning environment that values personal growth and organizational capability.
 Committed to achieving performance excellence; quickly learns performance standards
 Organizes work activities so that efficiencies can be realized for the work group
 Reviews work processes or deliverables to identify possible improvements
 Understands and applies new approaches in own work area
 Copes with change effectively
 Demonstrates commitment to personal learning and development
 Adheres to safe and healthful work practices

Business Acumen – Taking accountability. Focusing on key business drivers, realizing success through exercising sound business judgment, leveraging resources, resolving key issues in a timely manner, mitigating risks, and rigorously focusing on shareholder value.
 Applies TXU policies and standards and uses relevant data when making decisions
 Demonstrates initiative, follow-through and accountability for own work
 Demonstrates logical approach to resolving routine to semi-routine issues
 Identifies emerging trends and possible resolutions or work adaptations
 Demonstrates an understanding of the impact of decisions
 Identifies business risk factors
 Understands the drivers of business value and applies to own work
 Applies appropriate judgment about when to involve others
 Uses TXU technology resources effectively

Personal Impact – Influencing others through teamwork and collaboration; by being approachable and respectful of others; and by earning trust through straight-talking and reliability. Modeling TXU’s business code of conduct.
 Demonstrates teamwork and cooperation – i.e., is approachable and listens with respect to other’s opinions and views, readily shares information and learning
 Contributes to a “straight-talking” environment, communicating and being responsive to open and honest feedback
 Relates effectively to others in the work group and builds appropriate rapport
 Presents oral and written communications in a concise and well-organized form
 Acts ethically according to an established code of conduct

Expertise – Demonstrating the industry and professional capabilities required to meet or exceed performance expectations of the job, generally acquired through education, training and/or work experience.
 Requires developing expertise in one to two subject matters
 Develops an understanding of the impact of the market, competitors and business/legal trends on work activities


Functional Competencies
Accounting Practices & Internal Control Systems – Demonstrates appropriate mastery of accounting policies, processes and principles, including generally accepted accounting principles (GAAP), financial reporting processes, planning and analysis techniques, energy and MTM accounting and accounting regulations. Analyzes alternative accounting principles, considers alternatives and recommends appropriate course of action.
Demonstrates appropriate mastery of basic accounting concepts (e.g., cash vs. accruals, assets, liabilities, capital structure, fixed and variable costs, cost of capital; fixed asset management and methods of depreciation). Demonstrates appropriate knowledge of calculating and analyzing cost of capital, and return on capital, working capital management, full and marginal cost, and cash flow analysis. Demonstrates appropriate understanding of physical and financial energy sales, purchases, transportation, transmission, storage and exchange transactions and pricing mechanisms. Demonstrates appropriate understanding of the objectives and components of the overall accounting and corporate controls environment, organization, and oversight controls. Designs, implements, documents and validates appropriate internal control systems (including preventive and detective controls), understands cost/benefit tradeoffs associated with various control systems and accurately measures ongoing value. Effectively identifies material control deficiencies and implements corrective actions.

Energy Industry and Business Model Knowledge – Demonstrates appropriate mastery of energy industry knowledge (regulated and deregulated market trends), competitive intelligence, TXU's integrated portfolio business model, technologies and systems, including market structures and evolutions. Develops commercial insights and possess a strong understanding of trading, wholesale and retail environments, position rules and mark-to-market principles (MTM). Maintains and manages TXU technologies and systems to support decision-making.

Financial Management Practices – Demonstrates aptitude and ability to provide accurate insight into the financial condition of the business through mastery and application of sound financial management practices and rigorous analysis methods which include cost benefit analysis, ratio analysis and variance analysis, IRR, ROI, NPV, etc. Demonstrates comprehensive understanding of TXU’s key financial indicators, particularly cash flow from operations and its drivers, and provides accurate cash flow forecasts and efficient gross margin analysis through appropriate valuation methods. Effectively interprets financial statements, ratios, etc. and analyzes operational performance, trends and long-term plans, evaluates and determines the implications of alternative strategies, and makes prudent business recommendations accordingly. Assesses and accurately identifies business financial risk exposure, evaluates trade-offs around returns, costs and benefits, recommends corrective action, and implements financial controls that mitigate financial risk through prevention, detection or correction. Anticipates operational and capital needs, understands cost of capital and its uses, and effectively evaluates alternative sources of financing. Demonstrates ability to efficiently compile, organize, analyze and evaluate meaningful financial data and operational information, and effectively communicate analyses of alternatives, cost/benefits, risks and rewards, while linking accurate data, business knowledge and insights together for sensible decision-making purposes. Applies financial models and valuation methods with thorough and objective business case analysis to support business / capital investment review processes, integrating performance with mission and budget processes. Builds and uses financial models to quantify problems or test solutions and develops innovative methods and prototypes for the automation of proprietary processes to support TXU’s decision-making processes.

Financial and Accounting Information Systems Knowledge – Demonstrates appropriate knowledge of financial and operational information systems, how they support financial decision making and basic accounting cycles (revenues, accounts receivable, cash receipts, purchases, accounts payable and cash disbursements cycles). Demonstrates appropriate knowledge of the underlying information technologies comprising financial and accounting information systems. Demonstrates a working knowledge of file processing and data management systems, understanding of the implications of database management for accounting and financial data. Demonstrates appropriate knowledge of data processing, security, access controls and the characteristics of effective control systems.
CANDIDATES MUST APPLY ON-LINE AT: www.energyfutureholdings.com TO BE CONSIDERED FOR THIS POSITION.