Gas Power Services Project Accounting Intern
5 months ago
**Job Description Summary**: GE Vernova is leading a new era of energy by helping to accelerate the path to more reliable, affordable and sustainable energy. This internship with GE Vernova Gas Power team will offer a unique opportunity to gain hands-on experience through challenging projects, learn from some of the brightest and most innovative minds in the business and network with a variety of professionals.
The Gas Power Services Project Accounting Intern will assist to execute all Accounting, closing, and pacing activities for a given portfolio of projects (by revenue type - e.g., Contractual Services Agreement (CSA) & Operational & Maintenance (O&M), Core, or Upgrades) to ensure timely and accurate financials. Areas of responsibility include assisting with project set up, performing contract margin reviews, forecast validation, monthly & quarterly closing activities, account reconciliation, assisting with Stat & Tax audits by providing appropriate data.
**Roles & Responsibilities**:
As the Gas Power Services Project Accounting Intern, key responsibilities include:
**Financial Execution and Excellence**:
- Account for financials of the projects in line with GAAP & STAT policies & standards (e.g., revenue recognition, journal entries, etc.)
- Review and reconcile periodic balance sheet accounts related to projects & prepare and present monthly balance sheet reviews
- Perform Margin Review calculations to enable ITR Services Finance to work with Project Managers to optimize the performance of the contracts
- Download & prepare SONIC data as part of the forecast process for validation with Operations (CPMs)
- Execute project accounting within ERPs per the global standards set by the business
**Operations and Process Problem Solving**:
- Maintain strong connection with operations to validate contract data (project cost, invoicing), prepare financial output, and communicate to Operations team and broader finance community
- Support operations by approving credit notes, recording bad debt and bonus/liquidated damages
- Monitor intercompany transactions related to projects & partner with central Internal Billing System (IBS) team to problem solve rejects & holds
- Actively participate in contract handover reviews from Inquiry to Order (ITO), to Order to Remittance (OTR) i.e., T&C clarifications, project setup, payment security, hedging evaluation, etc.
**Lean and Continuous Improvement**:
- Possess detailed knowledge of the forecast case to enable Business Unit (BU) Finance in optimizing the case
- Provide internal and external Audit support relating to project accounting activity, balance sheet and P&L as needed
**Required Qualifications**:
- Bachelors in Finance, Accounting or Business Administration, or equivalent international degree
- Those with previous internship experience in Finance and/or Operations preferred
- Able to commit to 12 months internship period
**Desired Characteristics**:
- Demonstrated ability to deliver with focus, prioritize and perform in a fast-paced environment and respond quickly
- Excellent time management, organizational and data driven skills
- Adaptable/flexible: open to change in response to new information, different or unexpected circumstances, and/or ability to work in ambiguous situations
**Additional Information**:
**Relocation Assistance Provided**:No
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