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 related duties as assigned by the Head of Finance.
9. Assist with the preparation of URCO’s budgets.
10. Assist with the annual external audit, including the preparation of audit schedules. 60%
Operational & Administrative Support
1. Provide supervision, work direction, and training for staff reporting to post holder.
2. Monitor and conduct annual performance evaluations for respective staff to assist in setting objectives, priorities, and work schedules processes.
3. Assist with research and development of accounting policies and procedures.
4. Update licensee and vendor information as and when needed.
5. Perform any other related duties as assigned by the Manager.
20%
Compliance
1. Assist with the development and implementation of compliance procedures for the departments.
2. Advise on compliance practices and developments and assess their applicability to the work of the Authority.
3. Assist with the review of ICT quarterly licensees’ submission.
20%

1.5. Assignment & Planning of Work

The post holder operates as a member of the finance team under the direct supervision of the Head of Finance who issues assignments with specific deadlines. These assignments typically fall within the Head of Finance’s delegated authority and areas of responsibility.

1.6. Supervisory Responsibilities & Key Working Relationships

The accountant will have supervisory responsibility for at least one (1) staff member. The post holder is responsible for training, coaching and talent development of supervised staff.

The post holder will have daily working relationship with all URCO employees, interns, and Consultants in addition to business relations with Central Government, other Authorities, Government Companies, and vendors.

1.7. Working Conditions

Normal office working conditions apply, with a flexibility to work outside the normal working hours of 8:30am – 5:00pm if needed. A considerable amount of time will be spent working at a computer.

3. PERSON SPECIFICATION

3.1. Education and Qualifications
• Bachelor’s degree in accounting, Finance or Business Administration is required.
• A professional accounting qualification (such as CPA, CMA, CA, ACCA) is preferred. Alternatively, candidates working towards an accounting qualification or candidates with more than 10 years relevant experience may qualify.

3.2. Experience

The post holder must have:
• A minimum of five (5) years relative work experience, with at least three (3) years in a supervisory role.
• Knowledge of accrual accounting principles is essential including proven understanding of international accounting standards.
• Be proficient with a variety of computer systems and applications including Microsoft Office and related accounting tools.

3.3. Skills & Abilities

• Financial accounting systems proficiency and experience using spreadsheets is required.
• Proven ability to analyze, interpret and report on financial information.
• Excellent written and oral communication skills with strong interpersonal skills to clearly convey complex financial information and work collaboratively at all organizational levels.
• Self-motivated, reliable team player with the ability to handle deadlines and maintain a high attention to detail and able to quickly grasp concepts.
• Have strong attention to detail and ability to deliver within tight deadlines.
• Must be goal oriented, innovative, confident, committed and possess uncompromising ethics and integrity.
• Be able to remain politically neutral in their work.

3.4 Core Competencies

Financial Accounting Expertise:
• Proficient knowledge of international accounting standards including IPSAS and accrual accounting principles, with strong skills in preparing accurate financial statements, reconciliations, and journal entries.
Analytical Skills:
• Ability to analyze, interpret, and report financial data clearly and accurately to support budgeting, auditing, and financial decision-making.
Technical Proficiency:
• Advanced use of financial accounting systems, Microsoft Office (especially Excel), and accounting software tools essential for general ledger maintenance, reconciliations, and reporting.
Attention to Detail:
• Strong focus on accuracy and thoroughness in handling financial transactions, fixed asset register maintenance, and compliance documentation under tight deadlines.
Leadership and Team Management:
• Experience supervising staff including providing training, coaching, and performance evaluation to foster development and ensure accountability.
Communication and Interpersonal Skills:
• Excellent oral and written communication abilities for effective collaboration with internal teams, licensees, government bodies, and external vendors.

Confidentiality and Integrity:
• High ethical standards ensuring confidentiality of sensitive financial information and political neutrality in performing duties.
Problem-Solving and Initiative:
• Proactive approach in assisting with the development and implementation of internal controls, accounting policies, and compliance procedures.
Customer Service Orientation:
• Committed to delivering timely and responsive service to internal and external stakeholders to support operational and financial objectives.
All applications require submission of a cover letter, curriculum vitae, OfReg application form and two professional character references. Incomplete submissions cannot be considered.
A detailed job description, URCO application form and application notes are available online at: www.ofreg.ky/job-opportunities
Please combine all documents as a single PDF document and submit to: https://ofreg.bamboohr.com/jobs/
Preference will be given to qualified Caymanians and permanent residents.