Utility Regulatory Auditor II

  • Utility Regulatory Auditor II
  • What will I be doing?
  • Do I qualify?
  • Can I be successful?
  • Benefits
  • How do I apply?
Class Number: 
7801
Annual Salary Range:
$38,304.00 – $54,276.00
Twice-a-Month Salary Range:
$1,596.00 – $2,261.50
Pay Grade: 
A24

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Definition

This is mid-level professional regulatory auditing or financial analysis work for the Missouri Public Service Commission (PSC).

Job Duties

Conducts portions of complex audits in large utilities, financial audits, or complete audits of small utilities.

Prepares expert testimony for general issues regarding the rate of return in utility rate cases before the PSC; assists legal staff with the preparation of briefs and cross-examination of witnesses.

Conducts research and analysis of the financial aspects of public utility operations.

Analyzes inquiries or proposals from staff, consumers, utilities, or others which influence the solvency or profitability of utilities; conceptualizes and defines problems from an accounting perspective; consults with internal management to determine type, scope, and purpose of audits.

Analyzes and evaluates management controls, financial data, standard production rates, cost allocations, depreciation issues, fiscal procedures, or spending priorities to determine revenue requirements or promote efficient and economical utilization of resources.

Evaluates changes in accounting procedures and techniques requested by public utility companies and assists in the development of a staff position under the authority of the PSC.

Conducts on-site utility audits, interviews workers, and examines records to obtain data following an audit plan.

Prepares data requests for general discovery and detailed informational purposes.

Prepares materials which may be used as testimony in hearings involving topics such as rates, services, rate of return, production, construction, or research and development, and recommends changes affecting the rate structure.

Confers with company officials to discuss financial problems and regulatory matters.

Reviews and evaluates prudency of utility applications for mergers, acquisitions, establishment of new enterprises, or other actions.

Evaluates changes in product design, materials, production, or services to determine effects on costs.

Reviews utility budgetary controls for advertising, marketing, production, maintenance, and construction projects.

Analyzes financial information detailing previous rate structures, tariffs, distribution of costs, classification of accounts, assets, liabilities, and capital; reviews balance sheets, profit and loss statements, trends and costs, estimated and realized revenues, administrative commitments, obligations incurred, depreciation rates of capital assets, and other information; prepares summary of current company financial position and projection of future revenues and expenses.

Analyzes data obtained for evidence of deficiencies in controls, duplication of effort, excess expenditures, fraud, or lack of compliance with laws, regulations, or management policies or procedures.

Prepares and presents exhibits and testimony as an expert witness and responds to cross-examination in hearings before the PSC on regulatory or rate adjustments; analyzes testimony and exhibits presented by utility company officials and their consultants.

Participates in appeal hearings and settlements on contested cases.

Organizes and documents findings of studies; formulates recommendations for implementation of new systems, policies, procedures, or organizational changes; plans and prepares reports to management defining problems and possible solutions.

Conducts portions of audits or studies pertaining to cost of service, revenue requirements, and/or cost allocation issues; designs new rates in accordance with findings of the Commission.

Provides technical accounting information and advice and works in association with management, engineers, legal staff, economists, and other auditors in the preparation of cases.

Provides technical assistance to utility organizations and advises management regarding matters, such as effective use of resources and assumptions underlying budget forecasts.

Exercises considerable independent judgment and discretion in contacts with utilities and co-workers and in making decisions or determinations involving the application of rules, policies and techniques; general supervision is received from a higher level-auditor or other administrative staff who reviews work for technical adequacy and conformance to established rules and policies; duties are performed as a member of a multi-disciplinary team.

Performs other related duties as assigned.

Areas of Interest: 
ACCOUNTING, AUDITING & FINANCE; COLLEGE GRADUATES

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(The following minimum qualifications will determine merit system eligibility.  Allowable experience and education substitutions are provided in italics below the corresponding minimum qualification statement.  These minimum qualifications may also be used to evaluate applicants for Missouri Uniform Classification and Pay System positions not requiring selection from merit registers.)

One or more years of experience as a Utility Regulatory Auditor I with the Missouri Public Service Commission; and, possession of a high school diploma or proof of high school equivalency.

OR

A Bachelor's degree from an accredited college or university with a minimum of 15 earned credit hours in one or a combination of the following: Accounting, Finance, Economics, Business or Public Administration, or a closely related field; and,

24 or more earned credit hours of additional coursework in Accounting or Finance; and,

Two or more years of professional auditing experience, including one or more years in a regulatory environment that provides a broad view of regulation, utility operations, cost evaluation, and management analysis.

(24 earned graduate credit hours from an accredited college or university in the specified areas may substitute for the one year of required general experience.)

(Professional or technical experience in accounting, finance, economics, or the utility industry which provides knowledge of utility management and analysis may substitute on a year-for-year basis for deficiencies in the required college education.)

Please note that documentation that supports your eligibility (i.e. transcripts, employment records, etc.) may be required at any time during the application and hiring process. If you do not possess the minimum qualifications, please consider one of many other employment opportunities with the State of Missouri.

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Key Skills

Do you possess the key skills which are considered essential for successful employment in this classification?

Intermediate knowledge of accounting and auditing practices and procedures.

Intermediate knowledge of public utility operations and regulations.

Intermediate knowledge of word processing, spreadsheets, and database software packages associated with personal computers and accounting practices.

Introductory knowledge of trends and practices in utility financing, operations, and regulations.

Ability to generate data requests and analyze information according to accounting standards.

Ability to communicate effectively and prepare clear and concise reports.

Ability to generate and provide testimony associated with Commission hearings.

Ability, with general supervision, to analyze and interpret economic and financial data such as financial statements, stockholder reports, and outside reference materials pertaining to the public utility industry.

Ability to utilize interviewing techniques and solicit pertinent information at various organizational levels.

Ability to establish and maintain effective working relationships with co-workers, utility industry personnel, and others involved in the audit process.

Ability to travel as required for agency business.

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The following link will provide you with general information about State of Missouri employee benefits.

View benefits

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