Accountant

Who are We? The Utility Regulation and Competition Office (URCO, the Office) is the independent multisector regulatory body with responsibility for the energy and electricity, fuels, information and communication technology (ICT), and water and wastewater sectors. The Office maintains regulatory oversight for all utilities providers in the Cayman Islands. URCO has wide powers for consumer protection and is particularly mandated to facilitate innovation in the sectors for which it has responsibility for the promotion of economic development. URCO enforces compliance for all licensees through the administration of penalties and fines as dictated by the Utility Regulation and Competition (URC) Act and the sector acts. 1. JOB DESCRIPTION 1.1. Overview The Accountant is a member of URCO’s Accounts Team and is required to provide support to the accounts department and assist with ensuring that Office’s assets and financial accounts are maintained prudently and in accordance with the Office’s policies and procedures, the International Public Service Accounting Standards (“IPSAS”), the Public Management and Finance Act (“PMFA”), the Public Authorities Act (“PAA”), the URC Act and other relevant statutes designed to strengthen fiscal prudence and oversight. 1.2. Job Purpose The accountant is responsible for key accounting support within the Accounts department. The ability to assist with providing timely and accurate financial statements is an essential requirement for this position. The post holder will be required to provide excellent customer service to Licencees, Cayman Islands Government, other external parties, and personnel within the Office. The post holder will have access to sensitive and confidential information therefore, a high standard of confidentiality is required. 1.3. Scope of the Role Specifically, the Accountant shall: • Prepare monthly financial statements including statement of operations, balance sheet, cash flow and project progress reports. • Assist with the preparation of the annual budget submission. • Prepare the monthly reconciliations to verify that salaries, pension and health insurance premiums are calculated correctly and paid on time. • Review bank reconciliations and prepare in the absence of the Accounts Officer. • Assist with the review of accounts receivable invoices and follow up on collections; ensuring that licensee payments are received and processed in a timely manner. • General ledger maintenance to ensure transactions have been properly allocated. • Maintain the fixed asset register. • Prepare monthly journal entries, including depreciation, accruals, credit cards transactions and prepayments. • Prepare reconciliations and analyses of balance sheet and income statement accounts. • Conduct review and prepare analyses of quarterly ICT licencee submissions. • Assist with interim and annual audits, including the preparation of audit schedules. • Assist with special projects as directed. • Assist with the development, implementation and monitoring of internal controls and policies. • Prepare vendor payments in the absence of the Accounts Officer. • Act for the Head of Finance during absences. 1.4. Principal Accountabilities Reporting to the Head of Finance, the primary responsibilities/accountabilities of the position include but are not limited to: Accountabilities Percentage Finance and Accounting 1. Prepare monthly internal financial reports. 2. Prepare monthly variance reporting. Prepare monthly reports to Government. 3. Prepare monthly reconciliation and analyses of balance sheet and income statement accounts. 4. Prepare monthly payroll reconciliations. 5. Prepare monthly journal entries including depreciation, accruals, and prepayments. 6. Assist with the review of accounts receivable invoices and ensure that payments are received in a timely manner. 7. Assist with general ledger maintenance ensuring that transactions have been properly allocated 8. Perform any other rel