Budget Analyst, Fuel Variance

Job Summary

The Fuel Variance Analyst ensures that the Company consistently, appropriately, and accurately develops and maintains annual resource related operating budget, Fuel and Purchase Power (F&PP), and 8-year and 20-year projections, implements supporting plans, and monitors ongoing performance. This position prepares and monitors that portion of LIPA’s operating budget associated with all power supply related costs, which, in aggregate, represent over 50% of LIPA’s annual revenue.  The person in this position supports preparation of power supply related testimony in various proceedings including rate cases.

Job Responsibilities

• The Fuel Variance Analyst coordinates, collects and evaluates the data from forecasts and back casts of the fuel and purchase power costs, prepares variance and forecasts reports, and researches any significant variance from the approved budget for the current month and year-to-date results. In addition, prepares the summary level variance report for reporting to LIPA. In addition to preparing the operating budget.
• Responsible for developing and accurately calculating the monthly Power Supply Charge (PSC) that underpins the collection of approximately $2 billion in annual revenue as well as the 6 and 12 month rolling average PSC values used in the balanced billing program. Accurate calculation is critical in order to ensure the timely recovery of costs while minimizing month to month fluctuations in customer bills due to changes in the monthly PSC, which is a direct driver of customer satisfaction metrics. In addition, prepares month-end accruals for various F&PP costs and any re-class entries that may be required.
• Ensures that all F&PP invoices, accruals and deferrals are correctly recorded in PSEG Long Island’s general ledger. Works with various group (Power Portfolios, Accounting, etc.) to ensure all vendor invoices as well as accounting entries that impact F&PP are properly coded.
• As part of the Department Budget, the Fuel Variance Analyst prepares monthly update of forecasted expenditures for the department as well as an explanation of expense variances for reporting to the Budgeting and Planning Group. Ensures that all departmental costs are charged to the correct order number. Reviews the month-end accruals prepared by the Executive Assistant for accuracy and assists in preparing any re-class journal entries. Assists in researching any invoice payment issues.

Job Specific Qualifications

Required

• Bachelor's degree in Engineering, Finance, Accounting, Economics, Business Administration or related field
• Minimum of 10 years' experience in finance, quantitative analysis, budget management with at least seven years' experience with the utility industry, working for an electric investor-owned or public utility company, a company participating in the electric power markets, as a consultant to a public or private utility, or a similarly situated government policy or regulatory body
• Experience in the development and use of complex spreadsheets is essential
• Capacity to meet demanding deadlines and manage multiple projects
• Ability to translate data into meaningful information to manage the business
• Strong written and verbal communication skills
• Collaborative with colleagues at all levels towards mutual objectives 
• Ability to work as an individual contributor and as a team member in a fast-paced, multidisciplinary environment

Desired:

• Master’s Degree preferred
• Experience with accounting systems, such as SAP, Ariba and Catalyst is preferred as is experience with Document Management Systems (SharePoint)
• Strong business acumen, experience bringing insightful commentary to numbers, recognition of trends
• Excellent analytical skills, conceptual thinking - breaking complex issues into components, capturing all relevant information, utilizing specialists for support, draw conclusions
• Strong communication skills - ability to develop and share focused information to be used in good business decision making
• Strong organizational and work planning skills

Minimum Years of Experience

Education

Certifications

Disclaimer

Certain positions at the Company may require you to have access to Part 810-Controlled Information.  Under the law, the Company is limited in who it can share this information with and in certain circumstances it is necessary to obtain specific authorization before the Company can share this information.  Accordingly, if the position does require access to this information, you must complete a 10 CFR Part 810 Export Control Compliance Nationality Request Form, a copy of which will be provided to you by Talent Acquisition if an offer is made.  If there is a need for specific authorization, due to the time it takes to obtain authorization from the government, we will likely not be able to further proceed with an offer.