Pattern Energy Group

  • Principal Analyst, Tax Accounting

    Job Locations US-CA-San Francisco
    Posted Date 3 weeks ago(11/26/2018 5:04 PM)
    # of Openings
    1
    Category
    Accounting
    Job ID
    2018-1423
  • Overview

    Pattern Energy Group is an independent, fully integrated energy company that develops, constructs, owns and operates renewable energy projects and transmission assets across North America, Japan, and parts of Latin America.  The company focuses primarily on wind, solar and transmission. The Pattern Energy Group team has a history as one of the top North American renewable energy and transmission providers in the industry. The team is dedicated to delivering the highest value for its customers, partners, financial supporters and the communities in which it works, while exhibiting a strong commitment to promoting environmental stewardship and corporate responsibility.

    Pattern Energy Group operates in the United States, Canada, Japan, and Mexico with offices in San Francisco, Houston, San Diego, New York, Tokyo, and Toronto.  Pattern Energy Group’s corporate headquarters is in San Francisco.

    Responsibilities

    As the Prinicipal Analyst you will properly account for Pattern’s investments in tax equity partnerships in accordance with GAAP. A knowledge of partnership taxation including Internal Revenue Code Sections 704(b), 754, 731 and 743; GAAP accounting; tax depreciation; cost segregation;, HLBV (Hypothetical Liquidation at Book Value); and legal principles pertaining to partnership agreements is necessary to meet the business objectives of this role.

     

    Key Accountabilities

    • Review of initial and ongoing HLBV models used in GAAP accounting for investments in tax equity partnerships including disproportionate allocations, calculation of outside tax basis, determination of entitlement to partnership account balances at liquidation under IRC Sec. 704(b) per the liquidation waterfall provisions established in the partnership agreement; accounting for IRC Sec. 731 gain, deficit restoration obligation (DRO), allocation of income, suspended losses and curative allocations; allocation of residual gain, true-ups to the annual partnership tax filings, and the modeling of amendments to partnership agreements, if any. Coordinate and collaborate with Accounting, Finance and Tax on the review of the initial HLBV models and as the models reflect operational results. Read, interpret, and summarize management agreements between operator and project entities
    • Accounting for investment tax credits (tax basis reduction), production tax credits and tax depreciation in accordance with final cost segregation of project costs. Review of cost segregation reports for accuracy and compliance with tax law.
    • Oversight of IRS continuity of construction rules as required for relevant tax credits.
    • Validation of partnership contributions and distributions and operational results reflected in the HLBV models. Preparation of journal entries to record HLBV income. Preparation of fluctuation analytics and trend analysis with respect to HLBV inputs and resulting non-controlling interest allocations.
    • Compliance with SOX documentation and testing and responding to inquiries and requests from internal and external auditors.
    • Ongoing communication and collaboration with cross-functional team members representing Finance, Legal, Operations, Tax and Accounting.
    • Technical analysis and preparation of documentation in support of accounting and tax positions.

    Qualifications

    Educational Experience

    College degree required, in Accounting or closely related field. CPA preferred.

    Required Work Experience

    The following criteria will be used as a basis for Pattern to select a qualified applicant:

    • An understanding of how terms established in legal agreements are represented in financial models;
    • Knowledge of Internal Rate of Return (IRR) and Net Present Value (NPV) concepts;
    • Experience in partnership taxation; and an ability to understand and apply legal terms to economic modeling and evaluation

    Additional Requirements

    Must possess strengths in the following:

    • The ideal candidate will demonstrate strong "hands on" technical skills with a keen, thorough attention to detail.
    • Commitment, ability, and prior experience in meeting deadlines for monthly and quarterly reporting, and special projects.
    • Strong organizational skills with the ability to prioritize and manage a demanding workload involving multiple tasks, responsibilities and deadlines with professional follow-through and minimal supervision.
    • Enjoys working in a very “hands on” and detail-oriented environment.
    • Self-starter with flexibility, desire and eagerness to learn and assume new responsibilities while maintaining ownership of the operator entities.
    • Strong interpersonal, oral and written communication skills.

    Technical Skills

    Computer skills – Microsoft Office (Excel, Word, Outlook).  The Company is using Microsoft Dynamics AX for general ledger, fixed assets, and accounts payable, and Hyperion for consolidation and reporting.

    Pattern Energy Group Inc is an Equal Opportunity Employer.

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