Job Summary
The individual in this role will be responsible for overseeing the derivative accounting and ensure that all trading, hedging, and own use accounting designations are in compliance with IAS accounting standards. This individual will be required to be in the details for development and maintenance of new and existing hedge relationships. This individual will be responsible for the following accounting documentation:
- Cash Flow and Fair Value hedge documentation
- Hedge assessments
- Hedge measurement calculations for existing hedge relationships
- Back-testing of the forecasted transaction and hedge levels
- Documentation of all newly executed non-standard contracts for accounting treatment
- Technical accounting research on various accounting subject matters (lease accounting, asset impairments, derivative assessments, etc.)
In addition to providing technical accounting support, this individual will be responsible for monthly close procedures that will entail several of the items above, but will also include balance sheet account reconciliations, reconciliations to front and mid-office, and updating of monthly reporting packs containing trading performance and changes in fair value of hedge programs.
This role will assist in all areas of the business (S&O and NAG&P) and work with accounting teams to train and develop them on technical accounting matters.
Responsibilities
Responsible for preparing and reviewing monthly JE’s
Responsible for researching and documenting accounting conclusions on various accounting subject matter
Responsible for performing monthly balance sheet reconciliations
Responsible for reconciling accounting gross margin to Risk and Commercial gross margin results
Responsible for preparing and reviewing quarterly disclosure information
Responsible for assisting with completing monthly management reporting packs
Individual will be responsible for clearly communicating accounting conclusions to the management team
Responsible for documenting process changes that result from accounting conclusions reached on various subject matters (contract terminations, lease accounting, asset impairments, hedge elections)
Responsible for training and developing the accounting staff on various accounting subjects
Responsible for diagnosis system configuration issues
Requirements
Experience Needed
Bachelor degree in Accounting
Preferred CPA or MBA with emphasis in Accounting
Preferred experience with an energy trading organization
Ability to work with others and communicate with the various groups within the organization, with particular focus on Trading, Risk, Accounting, and IT.
Specialist Knowledge
Fundamentally sound accounting skill set and ability to apply GAAP and or IAS
Passionate about performing accounting research, documenting conclusions, and communication results
Skills
Business analysis skills, detail orientation, teamwork, research and problem solving, computer skills, technology orientation, strong follow-through
Ability to research accounting matters and formulate conclusions with little involvement from their direct supervisor
Attributes, competences
Self starter, highly motivated, results oriented
Team player, positive
Reliable and dependable
Innovative and creative, problem solving capabilities
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