The Controller is a senior leadership position responsible for the management of the corporation’s financial health through the supervision of accounting, tax, insurance, and treasury sections. This role requires a sophisticated understanding of both accounting and finance to ensure accurate record-keeping, risk mitigation, fund management and corporate compliance with federal, state and local agencies. The Controller leads various internal teams and works across departments to uphold the fiscal integrity of OVEC/IKEC.
Leadership & Team Supervision: Directly supervise the Treasury and Accounting staff.
Lead the department by setting goals, conducting performance evaluations, and providing professional mentorship. Ensure a culture of accountability and that adequate cross-training exists for all key roles.
Administer prescribed Company personnel policies and practices; make recommendations pertaining to hiring, classification, change of classification, rate change, and discipline of department employees; carry out appropriate measures of corrective discipline with employees under supervision.
General Accounting Oversight:
Direct the General Accounting and Accounts Payable sections. Ensure the recording of assets, liabilities, and income/expense activity is performed at a proficient level in strict adherence to FERC accounting structures and utility-specific standards.
Provide the department or management with special reviews or statistical reports for internal company operations, federal and state regulatory agencies, outside institutions or associations and legal, audit, or service groups.
Supervise the preparation for filing various federal and state periodic regulatory reports in compliance with requirements.
Tax Administration:
Oversee corporate compliance with all federal, state, and local taxing requirements. Coordinate the preparation of tax returns and promote equitable tax administration through relationships with taxing authorities.
Insurance & Risk Management:
Direct the securement and control of corporate insurance. Evaluate coverage adequacy, work with brokers/underwriters, and supervise the processing and settlement of casualty and liability claims.
Treasury & Finance Functions:
Oversee daily cash management, the investment of company funds, and strict adherence to financing covenants to ensure a timely and accurate cash position.
Sponsor Billings:
Oversee the billing and collection process for sponsor companies, ensuring accuracy and compliance with the Inter-Company Power Agreement (ICPA) and other fuel or power contracts.
Keep informed of the latest practices and procedures with regard to accounting principles and procedures related to the job and consistently apply these to ensure efficiency and economy in the operation of the department. Review Reporting and Accounting Procedures related to the duties assigned and suggest updates when they are needed in order to stay current. Advise management if a compromise of integrity appears to arise.
Perform duties in accordance with all applicable federal and state safety laws and regulations, and all applicable company safety rules and operating procedures; when supervising others, assure that safe work practices are followed and conduct safety meetings; make suggestions for the improvement of the safety program and encourage others to do so.
Carry out within the assigned area of responsibility the Company’s program of Equal Employment Opportunity including its Affirmative Action obligations. Discuss with staff and resolve any issues that may disrupt good business practices in an office environment. Investigate causes of complaint and assist when necessary
Responsible for knowing and complying with the laws and Code of Business Conduct related to the performance of the aforementioned duties.
Education: Bachelor’s degree in Accounting or Finance with a strong, demonstrable knowledge of accounting principles and the FERC Uniform System of Accounts.
Leadership Experience: Required minimum of 5 years of prior experience in a supervisory or management role, with a proven history of developing teams and managing departmental workflows.
Industry Experience: 8–10 total years of experience in accounting or finance, ideally within the utility industry.
Preferred: A Master’s degree in Accounting or Finance, or a CPA certification, is highly preferred.
As a full-time employee, the successful candidate will be eligible for full benefits, including:
- Medical, Dental and Vision insurance
- Health Savings Account (with Employer contribution if enrolled in a qualifying medical plan)
- Life Insurance
- Supplemental Pension & Savings Plan
- Paid Days Off
- Holidays
- Vacation
- Sick Pay
- Monetary incentives/Employee Incentive Plan target of 15%
- Paid Parental Leave
- Additional Voluntary Benefits
- Company will pay relocation expenses
Ohio Valley Electric Corporation (OVEC) and its wholly owned subsidiary, Indiana-Kentucky Electric Corporation (IKEC), were organized on October 1, 1952. The Companies were formed by investor-owned utilities furnishing electric service in the Ohio River Valley area and their parent holding companies for the purpose of providing the large electric power requirements projected for the uranium enrichment facilities then under construction by the Atomic Energy Commission (AEC) near Portsmouth, Ohio. OVEC, AEC and OVEC’s owners or their utility company affiliates (called Sponsoring Companies) entered into power agreements to ensure the availability of the AEC’s substantial power requirements. On October 15, 1952, OVEC and AEC executed a 25-year agreement, which was later extended through December 31, 2005 under a Department of Energy (DOE) Power Agreement. On September 29, 2000, the DOE gave OVEC notice of cancellation of the DOE Power Agreement. On April 30, 2003, the DOE Power Agreement terminated in accordance with the notice of cancellation. OVEC and the Sponsoring Companies signed an Inter-Company Power Agreement (ICPA) on July 10, 1953, to support the DOE Power Agreement and provide for excess energy sales to the Sponsoring Companies of power not utilized by the DOE or its predecessors. Since the termination of the DOE Power Agreement on April 30, 2003, OVEC’s entire generating capacity has been available to the Sponsoring Companies under the terms of the ICPA. The Sponsoring Companies and OVEC entered into an Amended and Restated ICPA, effective as of August 11, 2011, which extends its term to June 30, 2040.
Why is OVEC/IKEC committed to Diversity, Equity and Inclusion (DEI)?
Our Values of Respect and Innovation are key components directly related to our DEI commitment. Diversity, equity, inclusion and belonging strengthens and enhances our culture. Treating others the way we want to be treated and valuing each person’s talents, perspectives, and experiences promotes and builds an innovative environment.
