The Role
Analyze financial data, maintain investment and cash reserve records, assist cash forecasting, debt financing, covenant compliance, and tax and insurance administration. Support accounts payable/receivable, bank reconciliations, fixed assets, budgeting, reporting, audits, and cross-training. Participate in process improvements and systems transitions while ensuring compliance with accounting principles, safety, and company policies.
Summary Generated by Built In
Responsible for analyzing financial data, preparing reports, ensuring compliance and providing insights to support and aid in the management of cash flows, investments, financing, debt and risk functions of the Corporation.
Expected to align personal goals with the Mission, Vision, and Values of OVEC/IKEC
Expected to align personal goals with the Mission, Vision, and Values of OVEC/IKEC
Key Responsibilities
Monitor financial transactions to prevent discrepancies and ensure accurate recordkeeping.
Maintain an accurate record of all Company investments and cash reserves.
Assist in preparation of cash forecasting and advise management when short-term borrowings will become necessary.
Assist in preparation of financing and debt documents and aid in management of financial covenant compliance.
Review fees, interest payments and debt retirements related to debt issued by the Company and prepare for the proper and timely payment of the same.
Assist in budgeting process, reviewing departmental variances and forecasting.
Assist with the preparation of returns and the timely payment of federal, state and local income taxes; sales and use taxes, property taxes, highway use taxes and other miscellaneous taxes.
Assist with the review and maintaining of the Company’s insurance policies, including completing renewal applications and working with brokers to obtain quotes and policies on the Company’s behalf.
Assist with the reporting and compiling of insurance claims.
Assist with the financial reporting requirements associated with the Company’s benefit plans, including assisting with annual audit and tax requirements with Company-managed trust funds.
Provide operational support to cash manager, accounts payable/receivable, bank reconciliations, fixed assets and other day-to-day accounting tasks.
Participate in system transitions, process improvements, and financial analysis projects as requested by management.
This position will be cross-trained with other positions in the Treasury and Accounting Department. Assist with cross-training other employees in the department.
Investigate causes of complaint and assist when necessary.
Administer prescribed Company personnel policies and practices; make recommendations pertaining to hiring, classification, change of classification, rate change and discipline of employees and carry out appropriate measures of corrective discipline with employees under supervision.
Maintain a positive work environment where employees will strive to do well and help achieve the corporate goals. Maintain open communications with supervisor to keep them informed of potential problems and/or successes.
Keep informed of the latest practices and procedures with regard to accounting principles and procedures related to the job and consistently apply these to insure efficiency and economy in the operation of the department.
Review Reporting and Accounting Procedures related to the duties assigned and suggest updates when they are needed in order to stay current. Advise management if a compromise of integrity appears to arise.
Perform duties in accordance with all applicable federal and state safety laws and regulations, and all applicable company safety rules and operating procedures; when supervising others, assure that safe work practices are followed and conduct safety meetings; make suggestions for the improvement of the safety program and encourage others to do so.
Carry out within the assigned area of responsibility the Company’s program of Equal Employment Opportunity including its Affirmative Action obligations.
Discuss with staff and resolve any issues that may disrupt good business practices in an office environment.
Responsible for knowing and complying with the laws and Code of Business Conduct related to the performance of the aforementioned duties
Maintain an accurate record of all Company investments and cash reserves.
Assist in preparation of cash forecasting and advise management when short-term borrowings will become necessary.
Assist in preparation of financing and debt documents and aid in management of financial covenant compliance.
Review fees, interest payments and debt retirements related to debt issued by the Company and prepare for the proper and timely payment of the same.
Assist in budgeting process, reviewing departmental variances and forecasting.
Assist with the preparation of returns and the timely payment of federal, state and local income taxes; sales and use taxes, property taxes, highway use taxes and other miscellaneous taxes.
Assist with the review and maintaining of the Company’s insurance policies, including completing renewal applications and working with brokers to obtain quotes and policies on the Company’s behalf.
Assist with the reporting and compiling of insurance claims.
Assist with the financial reporting requirements associated with the Company’s benefit plans, including assisting with annual audit and tax requirements with Company-managed trust funds.
Provide operational support to cash manager, accounts payable/receivable, bank reconciliations, fixed assets and other day-to-day accounting tasks.
Participate in system transitions, process improvements, and financial analysis projects as requested by management.
This position will be cross-trained with other positions in the Treasury and Accounting Department. Assist with cross-training other employees in the department.
Investigate causes of complaint and assist when necessary.
Administer prescribed Company personnel policies and practices; make recommendations pertaining to hiring, classification, change of classification, rate change and discipline of employees and carry out appropriate measures of corrective discipline with employees under supervision.
Maintain a positive work environment where employees will strive to do well and help achieve the corporate goals. Maintain open communications with supervisor to keep them informed of potential problems and/or successes.
Keep informed of the latest practices and procedures with regard to accounting principles and procedures related to the job and consistently apply these to insure efficiency and economy in the operation of the department.
Review Reporting and Accounting Procedures related to the duties assigned and suggest updates when they are needed in order to stay current. Advise management if a compromise of integrity appears to arise.
Perform duties in accordance with all applicable federal and state safety laws and regulations, and all applicable company safety rules and operating procedures; when supervising others, assure that safe work practices are followed and conduct safety meetings; make suggestions for the improvement of the safety program and encourage others to do so.
Carry out within the assigned area of responsibility the Company’s program of Equal Employment Opportunity including its Affirmative Action obligations.
Discuss with staff and resolve any issues that may disrupt good business practices in an office environment.
Responsible for knowing and complying with the laws and Code of Business Conduct related to the performance of the aforementioned duties
Minimum Qualifications
Bachelor’s degree in accounting plus a minimum of five years accounting experience required.
Benefits
As a full-time employee, the successful candidate will be eligible for full benefits, including:
- Medical, Dental and Vision insurance
- Health Savings Account (with Employer contribution if enrolled in a qualifying medical plan)
- Life Insurance
- Supplemental Pension & Savings Plan
- Paid Days Off
- Holidays
- Vacation
- Sick Pay
- Monetary incentives/Employee Incentive Plan
- Paid Parental Leave
- Additional Voluntary Benefits
- Company will pay relocation expenses
About
Ohio Valley Electric Corporation (OVEC) and its wholly owned subsidiary, Indiana-Kentucky Electric Corporation (IKEC), were organized on October 1, 1952. The Companies were formed by investor-owned utilities furnishing electric service in the Ohio River Valley area and their parent holding companies for the purpose of providing the large electric power requirements projected for the uranium enrichment facilities then under construction by the Atomic Energy Commission (AEC) near Portsmouth, Ohio. OVEC, AEC and OVEC’s owners or their utility company affiliates (called Sponsoring Companies) entered into power agreements to ensure the availability of the AEC’s substantial power requirements. On October 15, 1952, OVEC and AEC executed a 25-year agreement, which was later extended through December 31, 2005 under a Department of Energy (DOE) Power Agreement. On September 29, 2000, the DOE gave OVEC notice of cancellation of the DOE Power Agreement. On April 30, 2003, the DOE Power Agreement terminated in accordance with the notice of cancellation. OVEC and the Sponsoring Companies signed an Inter-Company Power Agreement (ICPA) on July 10, 1953, to support the DOE Power Agreement and provide for excess energy sales to the Sponsoring Companies of power not utilized by the DOE or its predecessors. Since the termination of the DOE Power Agreement on April 30, 2003, OVEC’s entire generating capacity has been available to the Sponsoring Companies under the terms of the ICPA. The Sponsoring Companies and OVEC entered into an Amended and Restated ICPA, effective as of August 11, 2011, which extends its term to June 30, 2040. Why is OVEC/IKEC committed to Diversity, Equity and Inclusion (DEI)?Our Values of Respect and Innovation are key components directly related to our DEI commitment. Diversity, equity, inclusion and belonging strengthens and enhances our culture. Treating others the way we want to be treated and valuing each person’s talents, perspectives, and experiences promotes and builds an innovative environment.
Skills Required
- Bachelor's degree in accounting
- Minimum of five years accounting experience
- Knowledge of accounting principles and procedures
- Experience with cash forecasting, investment monitoring, financing and debt covenant compliance
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The Company
What We Do
Ohio Valley Electric Corporation (OVEC) and its subsidiary Indiana-Kentucky Electric Corporation (IKEC) were formed in 1952 by investor-owned utilities to provide electric power for uranium enrichment facilities. The company now produces and distributes electric power, owning and operating two coal-fired generating stations in Ohio and Indiana.
