Director, Technical Accounting

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Technical Accounting (TA) reviews and confirms conclusions on the US GAAP accounting by AES for all its contracts and non-standard transactions that could have a potentially material impact to consolidated financial statements of AES.

These conclusions result from critically analyzing, questioning and discussing memoranda submitted by the Strategic Business Unit (SBU) Technical Accounting Managers (TAMs) and SBU Controllers and thoroughly reviewing any associated contracts in English.

The conclusions require research & application of all relevant US GAAP and any interpretations, if available. TA often supports the determinations during reviews by and deliberations with engagement level partners of the Big 4 auditors of AES.

TA also promotes consistent accounting interpretations across AES by actively monitoring, understanding, applying and sharing examples from other SBUs proactively or as needed.

Also, TA develops the US GAAP accounting policies of AES and is responsible for US GAAP training at AES.

Responsibilities :

• Perform or guide technical accounting research, documentation, training, consistency and oversight functions.
• Perform timely, thorough and accurate reviews and improvements on technical accounting memoranda.
• Research, interpret and provide technical accounting guidance after carefully analyzing executed and / or proposed transactions and thoughtfully questioning analyses performed by the Technical Accounting Managers he / she manages.
• Timely identify and effectively communicate / resolve issues to avoid financial statement errors.
• Cross-functional communication and collaboration as the transactions being reviewed by the Director generally are of an impactful and material nature that impacts many different areas of the company.
• Consult in design of transactions to achieve the desired earnings impact within GAAP guidance.
• Manage discussions with engagement level partners and national office / professional practice directors with external auditors and / or consultants.
• Train other technical accountants through use of a deeper understanding of US GAAP and previous experiences. Training responsibilities include drafting materials to develop and train accountants globally on relevant and emerging accounting issues.
• Interpret the accounting policies, propose and review changes to accounting policies.
• Project manage the global implementation of new or changes in US GAAP.
• Comply with policies / controls for technical accounting analyses and recommend enhancements.
• Provide guidance and support to others as needed and perform ad hoc tasks and projects as assigned.

The Director regularly makes judgments and interpretations in the following highly technical areas of US GAAP :

• Identifies when agreements to physically deliver electricity, fuel or other commodities are standalone derivatives, contain embedded derivatives requiring bifurcation, and / or contain lease elements.
• Assesses when contracts represent variable interests that allow one party to direct significant activities the other party that results in a variable interest entity (and, if so, affects who is the primary beneficiary).

Alternatively, if voting interest model is used, evaluate any rights the non-controlling partner may have that would preclude consolidation.

• Impairment of assets (including recoverability and / or fair value testing with little / no observable inputs).
• Accounting for business combinations and asset acquisitions (of voting and variable interest entities).
• Accounting for sales of all or some interests in businesses (many of which are in-substance real estate).
• Complex debt and equity transactions (including project financing and identifying embedded derivatives).
• Revenue recognition; regulatory accounting and issues; functional currency determination / translation.
• Understand and interpret the impacts to AES (and Power & Utilities industry) of new and major guidance expected to be issued.

Qualifications :

• BS / BA in Accounting, Finance or related field from an accredited university.
• Advanced degree in Accounting, Finance or related field preferred.
• Certified Public Accountant with active license in the United States or equivalent.
• A minimum of 10 years progressive experience with a publicly-traded company under US GAAP and / or with a Big 4 firm auditing (preferably with concentration in technical accounting) publicly-traded companies under US GAAP.
• Extensive experience in the highly technical accounting areas.
• Energy / utility company industry accounting and / or audit experience preferred.
• International company accounting and / or audit experience preferred (including the ability to work with cultural and time differences in a decentralized environment).
• Experience with accounting for acquisitions / divestitures and business valuations strongly preferred.
• Ability to apply complex technical accounting concepts (thorough knowledge of US GAAP, SEC rules and interpretations in the above highly technical areas, including accounting and disclosure requirements).
• Excellent written and oral communication skills and presentation skills (especially for an executive-level audience), interpersonal skills and time / project management skills.
• Ability to effectively collaborate with cross-functional teams as well as across management levels globally.
• Ability to work in a fast-paced, global environment.
29 days ago