UTILITY REGULATORY AUDITOR V

DEFINITION

This is responsible professional regulatory auditing work for the Missouri Public Service Commission (PSC) that involves the supervision and coordination of auditing activities or comparable work of a highly specialized nature.

An employee in this class is responsible for supervising and coordinating the auditing functions of an assigned region, group of utilities or functional area, or for serving as a technical resource focusing on highly specialized areas or special projects. Work includes the formulation of standards and procedures, directing whole or parts of field audits and/or coordinating testimony for utility rate cases. The employee reviews and prepares material which may be used as testimony in hearings involving such topics as rates, services, production, construction, or research and development, and recommends changes affecting the rate structure. Work includes planning, developing and coordinating difficult and complex assignments, and completing special projects involving diversified and extensive contacts. Direct or technical supervision is exercised over professional auditing staff. General direction is received from the Manager, Utility Regulatory Auditing, who reviews work for conformance with prescribed policies and procedures and attainment of objectives.

Any one position may not involve all of the specified duties or knowledges, skills and abilities, nor are the listed examples exhaustive.

EXAMPLES OF WORK

Provides direct or technical supervision over the work of auditors conducting research, preparing technical, informative, or operational reports and papers, or working on projects in all sizes and types of utilities.

Reviews reports, papers and other records prepared by personnel for clarity, completeness, accuracy and conformance with agency policies.

Reviews staff work load, schedules, assignments, status of on-going projects, and availability for new work assignments in order to develop audit plans.

Provides training to lower-level auditors in the principles of public utility auditing.

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 forthcoming audits.

Supervises the preparation of data requests for general discovery and detailed information purposes.

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.

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, management policies or procedures.

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.

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.

Conducts specialized studies pertaining to cost of service, revenue requirements and cost allocation issues; designs new rates in accordance with findings of Commission.

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

Performs other related duties as assigned.

KNOWLEDGE, SKILLS AND ABILITIES

Extensive knowledge of accounting and auditing practices and procedures.

Extensive knowledge of public utility operations and regulation.

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

Considerable knowledge of the principles and techniques of effective supervision and training.

Ability to provide guidance and training to lower-level auditors regarding public utility auditing procedures and PSC rules, regulations and procedures.

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

Ability to communicate effectively and to prepare clear and concise reports.

Ability to generate and provide testimony associated with Commission hearings.

Ability to apply 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 necessary to conduct business.

EXPERIENCE AND EDUCATION QUALIFICATIONS

(The following entrance requirements are used to admit or reject applicants for merit system examinations, or may be used to evaluate applicants for employment in positions not requiring selection from merit system registers. When applicable, equivalent substitution will be allowed for deficiencies in experience or education.)

One year of experience as a Utility Regulatory Auditor IV with the Missouri Public Service Commission.

OR

Five years of professional auditing experience, of which four years must have been in a regulatory environment that provides a broad view of regulation, utility operations, cost evaluation and management analysis; and including one year in a supervisory capacity; and graduation from an accredited four-year college or university with specialization in accounting, finance, economics, business or public administration or a closely related area, including or supplemented by twenty-four semester hours of accounting coursework. (Professional or technical experience in accounting, finance, economics, or the utility industry that affords a knowledge of utility management and analysis may be substituted on a year-for-year basis for the required education. Graduate work in the specified educational areas may be substituted on a year-for-year basis for a maximum of one year of the required general experience.)

(Eff. 3/1/95)