Director, Capital Asset Accounting

Xcel Energy, Inc.; Minneapolis (MN); Hybrid; USD 148,000 - 211,000; Full time

Benefits offered by this job

Annual Incentive Program

Medical/Pharmacy Plan

Dental

Vision

Life Insurance

Pension

401(k) plan

Paid time off

Job summary

Xcel Energy in Minneapolis, MN seeks a Director, Capital Asset Accounting to lead plant asset accounting, capital policy, and depreciation processes in compliance with FERC, GAAP, IRS. You will manage staff, provide expert testimony, and coordinate regulatory filings across jurisdictions.

The role also covers tax deductions, decommissioning funding, and the capital cost recovery process with emphasis on accurate capital costs and timely reporting.

Qualifications

• Bachelor's degree in Business, Finance, Accounting or related subject area.
• 10+ years of accounting experience with 5 years management experience.
• Strong written and oral communication skills are required to provide expert testimony in regulatory proceedings and communicate effectively with upper management.
• Strong leadership and interpersonal skills are required to lead the asset accounting staff and functions.
• Preferred qualifications: CPA, MBA or advanced degree.
• BPA knowledge.

Responsibilities

• Oversee Property Accounting functions ensuring compliance with FERC and GAAP.
• Oversee capital investment cost recovery with regulatory filings and expert testimony.
• Oversee nuclear decommissioning funding and regulatory compliance with IRS and NRC.
• Oversee capital policy and application across operating units.
• Manage tax deductions and deferred taxes per IRS and regulatory rules.
• Oversee asset forecast process for earnings and regulatory filings.
• Manage asset processing and reporting to regulatory authorities and internal teams.

Skills

Strong written & oral communication

Leadership

Interpersonal skills

Expert testimony

Education

Bachelor's degree in Business, Finance, Accounting or related subject area

CPA

MBA or advanced degree

BPA knowledge

Tools

BPA knowledge

Job description

Xcel Energy(NASDAQ:XEL)is a leading energy providerand Fortune 500company,dedicated toserving millionsofelectricityandnaturalgascustomersacrosseightstates:Minnesota,Colorado,Wisconsin,Michigan,NorthDakota,SouthDakota,NewMexicoandTexas.We make energy work better forourcustomers,helping them thrive everyday. Thatmeansalwaysraisingthebar-deliveringbetterserviceandprovidingmorereliable,resilient,andSustainable energy.

Xcel Energy is a place where you’ll have opportunities to grow, expand your skills, and help lead the clean energy transition. We offer meaningful rewards, recognition, and support to help you build your career and make an impact - both on the job and beyond. Most importantly, it means you’ll be joining a company that knows employees are the driving force behind its success and is committed to helping you be your best.

Xcel Energy supports a hybrid work model to enable collaboration and flexibility. Many roles are expected to work onsite three days per week (Tuesday–Thursday); however, work location expectations vary based on role, team, and business needs.

Director, Capital Asset Accounting

Position Summary

This position is responsible for the overall area management of all plant asset related accounting functions, capital policy maintenance and support, plant asset related tax deductions, nuclear plant decommissioning funding, and rate case support for all investment related rate base and cost of service information. This position is also responsible for ensuring all activities are in compliance with the requirements of the Federal Energy Regulatory Commission, the various state public utilities commissions, the Internal Revenue Service, the Nuclear Regulatory Commission, and that all accounting is performed within Generally Accepted Accounting Principles and Company guidelines. As a manager of staff, develop and lead a team to successfully implement initiatives and achieve goals, including all managerial duties.

Essential Responsibilities

• Provide the overall management of all Property Accounting functions, which establish corporate capitalization policies and include the development, enhancement, and maintenance of the property records process for all of the plant assets of the Corporation. These functions must remain in compliance with the Federal Energy Regulatory Commission and Generally Accepted Accounting Principles.
• Provide the overall management for Xcel's capital investment cost recovery process which includes the development of detailed actuarial analysis, regulatory filings with the various state and federal rate regulatory commissions, and expert testimony to support recovery levels in rate proceedings.
• Provide the overall management for Xcel's nuclear plant decommissioning funding process. This process includes the development of detailed engineering cost studies combined with a complete financial and economic analysis to support regulatory filings. This process must be in compliance with the various state regulatory commission requirements, the minimum external funding requirements of the Nuclear Regulatory Commission, and the tax qualified funding requirements of the IRS. The overall management of this process also requires expert testimony on this subject matter in both rate proceedings and decommissioning specific hearings.
• Oversee capital policy and support application to work performed within the operating units at Xcel Energy. This role involves consultation with business leaders on work activities, evaluation of work against existing capital policies, and support for implementing processes that allow capital costs to be accurately captured within the plan records.
• Manage the maximization of Xcel's corporate income tax deductions from the computation and support of accelerated income tax depreciation expenses and provide for the computation and support of deferred income taxes. These computations must remain in compliance with the Internal Revenue Code and supporting tax regulations. This process must also be in compliance with state and federal rate regulatory agency requirements, includes expert testimony in rate regulatory proceedings, and requires detailed support upon audit by IRS examining agents.
• Provide the overall management for the plant asset related forecast process which supports Xcel's earnings forecasts and is a critical component of regulatory filings for all retail and wholesale jurisdictions
• Provide the overall management for Xcel's capital asset processing and reporting necessary to disseminate capital asset information as required by various regulatory authorities (FERC, SEC, state commissions) as well as meeting all internal information requirements necessary to sustain efficient and effective business operations.

Minimum Requirements

• Bachelor's Degree in Business, Finance, Accounting or related subject area.
• 10+ years of accounting experienced with 5 years management experience.
• Strong written and oral communication skills are require to provide expert testimony in regulatory proceedings and communicate effectively with upper management.
• Strong leadership and interpersonal skills are also required to effectively provide the management and leadership to the overall asset accounting staff and functional responsibilities.
• Preferred Qualifications, CPA, MBA or advanced degree.
• BPA knowledge.

Preferred Requirements

Our culture is grounded in shared values and employee commitments that guide how we work, support one another, and grow together.

Our Values

Connected, Committed, Trustworthy, Safe

Our Employee Commitments

• Work that makes a difference
• A team you can count of
• Opportunities to grow
• Rewards that help you thrive

Xcel Energy provides jobapplicantsreasonable accommodations for disabilitiesthroughout the application process. If youare in need ofanaccommodationto complete the application process, now or at any time in the future, please complete Applicant Accommodation RequestForm.

Accessibility Statement

Xcel Energy endeavors to make https://www.xcelenergy.com and https://jobs.xcelenergy.com accessible to any and all users. If you are in need of an accommodation to complete the application process, now or at any time in the future, please complete the Applicant Accommodation Request Form. For any other application related questions, including application follow-ups or technical issues, please use our Recruiting Assistance, Electra, for assistance. Electra can be found in the lower right-hand corner of our Xcel Energy Careers site.

The anticipated starting base pay for this position is: $148,400.00 to $210,733.00 per year

This position is eligible for the following benefits: Annual Incentive Program, Medical/Pharmacy Plan, Dental, Vision, Life Insurance, Dependent Care Flexible Spending Account, Health Care Flexible Spending Account, Health Savings Account (HSA) (if enrolled in eligible health plan), Limited-Purpose FSA (if enrolled in eligible health plan and HSA), Transportation Reimbursement Account, Short-term disability (STD), Long-term disability (LTD), Employee Assistance Program (EAP), Fitness Center Reimbursement (if enrolled in eligible health plan), Tuition reimbursement, Transit programs, Employee recognition program, Pension, 401(k) plan, Paid time off (PTO), Holidays, Volunteer Paid Time Off (VPTO), Parental Leave

Benefit plans are subject to change and Xcel Energy has the right to end, suspend, or amend any of its plans, at any time, in whole or in part.

In any materials you submit, you may redact or remove age-identifying information including but not limited to dates of school attendance and graduation. You will not be penalized for redacting or removing this information.

Deadline to Apply: 11/22/26

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