Director, Capital Asset Accounting

Xcel Energy•Minneapolis, MN

3d•Hybrid

About The Position

The Director, Capital Asset Accounting is responsible for the overall management of plant asset accounting functions, capital policy maintenance and support, plant asset-related tax deductions, nuclear plant decommissioning funding, and rate case support for investment-related rate base and cost-of-service information. The role ensures compliance with requirements of the Federal Energy Regulatory Commission, state public utilities commissions, the Internal Revenue Service, the Nuclear Regulatory Commission, Generally Accepted Accounting Principles, and company guidelines. As a manager of staff, the director develops and leads a team, implements initiatives, achieves goals, and performs managerial duties. The position oversees property accounting and corporate capitalization policies; capital investment cost recovery and regulatory filings; nuclear decommissioning funding analyses and filings; capital policy application across operating units; corporate income tax deductions and deferred taxes; plant asset forecasting; and capital asset processing and reporting for regulatory and internal needs. Responsibilities include providing expert testimony in regulatory proceedings and hearings.

Requirements

Bachelor’s degree in Business, Finance, Accounting, or a related subject area.
At least 10 years of accounting experience.
At least 5 years of management experience.
Strong written and oral communication skills to provide expert testimony in regulatory proceedings and communicate effectively with upper management.
Strong leadership and interpersonal skills to manage and lead asset accounting staff and functional responsibilities.

Nice To Haves

CPA.
MBA or advanced degree.
BPA knowledge.

Responsibilities

Manage Property Accounting functions, corporate capitalization policies, and the development, enhancement, and maintenance of plant asset property records in compliance with FERC requirements and GAAP.
Manage the capital investment cost recovery process, including actuarial analysis, regulatory filings, and expert testimony in rate proceedings.
Manage nuclear plant decommissioning funding, including engineering cost studies, financial and economic analysis, regulatory filings, and expert testimony in rate proceedings and decommissioning hearings.
Oversee capital policy and support its application to work performed across Xcel Energy operating units, including consulting with business leaders, evaluating work against policy, and supporting accurate capture of capital costs in plant records.
Manage corporate income tax deductions through accelerated income tax depreciation and deferred tax computations, ensuring compliance with tax regulations and rate regulatory requirements and providing support for regulatory proceedings and IRS audits.
Manage the plant asset-related forecast process supporting earnings forecasts and regulatory filings across retail and wholesale jurisdictions.
Manage capital asset processing and reporting for regulatory authorities, including FERC, SEC, and state commissions, as well as internal business needs.
Develop and lead the asset accounting staff, manage team performance, and implement initiatives to achieve goals.