The National Rural Electric Cooperative Association (NRECA), with offices in Arlington, VA and Lincoln, NE is the trade association for over 900 consumer-owned electric cooperatives serving more than 42 million people. NRECA is committed to harnessing the strength of America's electric cooperatives into a single powerful voice. NRECA has won the following awards over the past few years:
* Top Workplace by the Washington Post * 100 Best Places to Work - ComputerWorld Magazine * 50 Best Places to Work - The Washingtonian * CARE Award Recipient - Recognizing organizations that promote a positive work-life balance * Best Place to Work Award Recipient - Lincoln, NE * Gold Well Workplace - Wellness Councils of America * State of NE Governor's Wellness Award - Grower Level
At NRECA, we work with people who are leaders in their fields. They are down-to-earth, hardworking professionals committed to helping our members serve their communities. Our work is interesting, constantly evolving, and requires new skills to meet the evolving needs of a dynamic industry. In this collegial, inclusive work environment, united around the compelling purpose and history of electric cooperatives, we thrive. And topping it off, NRECA cares about each person's overall well-being, encouraging health, financial security, and a sustainable work/life balance. EEO/AA- M/F/Disability/Protected Veteran Status/Genetic Data
Summary Sr Financial Analyst II, IFS Accounting P.4
This position has primary responsibility for the creation of an accurate administrative expense bill to be submitted to the three multiple employer plans administered by NRECA to reimburse NRECA for allowable plan administration expenses in accordance with ERISA rules and standards. The scope of work includes but is not limited to: preparation of data used for billing purposes, participation in the management of outside contracted personnel supporting the preparation of the administrative bill, reviewing work performed by the contracted personnel, and resolving open items as applicable. The position would also create and conduct a training program for new and current NRECA staff in both Arlington and Lincoln regarding time and expense coding practices. The role would also be responsible for the coordination and management of the quarterly and annual outside monitoring and audit processes. This position has secondary responsibilities for general accounting, budgeting and financial analysis supporting the Insurance and Financial Services Department including accounting and budgeting responsibilities for specifically identified cost centers that support the Plan Administration function at NRECA. The role will assist other team members in the further development and implementation of financial dashboard reporting, and management reports used by the Plan Administrator. In addition, this position has full cycle accounting and financial reporting responsibilities related to the NRECA HRA Plan. Ensure that the financial statements are GAAP compliant and completed in a timely and efficient manner. Ensures compliance with all federal, state and international tax regulations and filings. This position prepares financial reports and tax returns in accordance with GAAP, ERISA, and IRS code. This position requires the candidate to provide exceptional service in accordance with the standards of the NRECA Service Excellence model and within a fast paced team environment.
Purpose and Mission
Leadership Inspire and support the I&FS Finance & Accounting Team and the Insurance & Financial Services Department. Successfully complete goals and seeks progressively more challenging short and long-term goals and responsibilities; provides timely feedback; resolve day to day issues while keeping management informed of problems and resolutions; Offers appropriate assistance and support to colleagues; continues to participate in cross functional teams; continued focus on professional development. Ensure ownership and responsibility of ones work and maintain a high level of cooperation within a team environment. Embodies NRECA's mission, vision and values and serves as a role model for employees in consistently displaying the highest ethical standards. accountability, performance and results are valued and recognized by the organization; implements the association's strategy in a department/function.
Financial and Tax Reporting Manages and oversees the day-to-day activities of the NRECA HRA Plan, Permissible Expense Billing, and general accounting and reporting for the Insurance & Financial Services Department. Continued focus on best accounting and financial reporting practices, internal controls, policies, procedures and performance metrics to effectively and efficiently manage the daily, monthly, quarterly, and annual accounting, financial reporting, audit and tax reporting requirements of the NRECA HRA Plan, Permissible Expense Billing, and general accounting and reporting for the I&FS Department. Additionally, continued focus on new accounting standards and the application of those accounting standards in relation to the NRECA HRA Plan's financial statements.
Additional responsibilities include, but not limited to:
a) Monthly closing process b) Monthly financial reporting process c) Executive Dashboard reporting d) Key metric reporting e) Budgeting f) Form 990 preparation and filing g) Form 5500 preparation h) Form 720 preparation i) Other tax filings as required (i.e. personal property taxes etc.) j) Manages the relationship with I&FS k) Support and assist with special projects and ad hoc reporting as needed
Permissible Plan Billing - This position will support the short and long term goals for the permissible expense billing project. Position will support a cross-functional team establishing, enhancing, and completing the billing process. This position will manage the contracted personnel assigned to this billing function and support the preparation of permissible plan expense invoices 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. Position will be responsible for developing and maintaining staff training program relative to permissible expenses and time charging.
Additional Responsibilities a. Create a recurring administrative expense bill by performing and reviewing an in-depth analysis of associated expenses to determine, based on ERISA rules and regulations what expenses are allowable to be billed to the NRECA sponsored multiple employer plans for plan administrative expenses. Additionally, the position will prepare for our contracted personnel, data files and schedules for them to use in the preparation and analysis of the cost center files supporting our overall billing function b. Coordinate the progress of cost center analyses handled by other team members on the Insurance and Financial Services Accounting team. Acting as the focal point for progress updates and managing completed cost center products presented by the team c. Review the work of outside contracted personnel and internal team members to ensure that calculation, method and decisions related to allowance or disallowance were made accurately in the calculation. Communicate with management regarding any questions and issues that need resolution during the process. Ensure that correct decisions are made early in the process in order to carry forward the calculations accurately d. Monitors and analyzes staff time charged to the Plans and investigates any unusual time charging trends and provides advice to managers and staff regarding the proper charging of time to the Plans. e. Ensures work leaves a clear audit trail between NRECA's accounting records and the amounts billed to the Plans to ensure only expenses allowable under ERISA are billed. f. Conduct training throughout the year for new and existing NRECA employees regarding correct time and expense GL coding, and communicate the importance of the accuracy of the process. g. Coordinate and manage the quarterly and annual outside monitoring and audit processes that are in place surrounding the review of the administrative bill. 4. Annual Audits - Position will support the preparation of audit schedules, GAAP financial statements, and ad hoc analysis as it pertains to the NRECA HRA Plan's annual audit. Position will support relationships across the organization to ensure the smooth and timely delivery of the audited financial statements to the Administrative Committee of the Board of Directors. Interacts and collaborates across departments to achieve audit planning and fieldwork goals. Responsibilities include: a. Preparation and timely submission of all auditor requested schedules, reports and questionnaires during both interim and year-end fieldwork. b. Works directly with external auditors to effectively answer their questions, explain processes etc. as needed to ensure audit deadline is met with management. c. Manages the preparation of the draft audited financial statements in accordance with GAAP.
5. Business Advisor - Provides financial advice and analysis to key stakeholders within Finance and Insurance and Financial Services. a. Analyzes the monthly financial statements for the Insurance and Financial Services Department. Identify significant factors that are contributing to the financial performance of the department and report key financial metrics. b. Serves as a business advisor to I&FS and ensures best accounting practices, and provides financial forecasts and trend analysis as requested and required. c. Participates in the selection, development, implementation and ongoing support of new financial systems to ensure appropriateness for I&FS.
Budget Manages the planning and preparation of the Insurance and Financial Services budget, including holding key stakeholder meetings to ensure the timely and efficient delivery of the annual budget.
Requirements and Qualifications
Experience Required * 8-10 or more years of progressive accounting/finance/budgeting experience. CPA or MBA is a plus. * Prior experience in Employee Benefit Plan Administration industry (Health and Welfare Plans and Defined Benefit and Defined Contritubtion Retirement Plans) and an indepth knowledge and understanding of financial analysis, financial reporting, and forecasting. * Bachelor's degree in Accounting, Finance or a related field or an equivalent combination of education, training, and additional experience.
Knowledge, Skills and Abilities Required Bachelor's degree in Accounting, Finance or a related field or an equivalent combination of education, training, and additional experience. * Ability to serve as the financial advisor to various levels of management and staff * Ability to manage competing deadlines and multiple projects at various stages of development using effective organization skills and attention to detail * Ability to foster cooperation in sharing information and communicate effectively to various levels of management * Ability to foster collaborative skills and consensus building while operating in a fast-paced environment * Looks for opportunities and areas of the business where creative solutions will help to solve old and new problems and improve the status quo and productivity. * Ensures that solutions will meet business objectives and can be realistically implemented; * Ability to use Microsoft Office tools (Excel, Word, Power Point) in the day-to-day essential duties of the job as demonstrated by prior work experience. Disclaimer Statement: The preceding job description has been written to reflect management's assignment of essential functions. It does not prescribe or restrict the tasks that may be assigned.