Job Summary

This position is responsible for ensuring derivative and other technical accounting transactions are appropriately documented, accounted for and reported both timely and accurately. These responsibilities include preparing and reviewing the following: derivative journal entries, various internal control processes and procedures (e.g. reconciliations), monthly estimates and earnings analysis, various reports for internal and external reporting functions, evaluation of various complex and technical accounting matters (including accounting standard assessments and implementations, contract assessments, ad-hoc accounting guidance) and other duties as assigned.  Responsibilities will require working closely with Derivatives & Technical Accounting team members and other groups/departments across the organization (e.g. Risk & Pricing, Supply & Marketing, Accounting). 

Minimum Qualifications

Required Degree: 

Bachelors Degree and 7 years of experience

Specialized knowledge, skills, abilities, and experience required (this will be included on the job posting):

• Understanding of commodity derivatives and application of accounting principles
• Excellent written and oral communication skills
• Ability to work with limited supervision
• Strong analytical ability
• Active Certified Public Accounting (CPA) strongly preferred
• Experience with RightAngle preferred

Job Duties

Here’s a more concise version of the text:

1. Derivative Accounting: Handle daily derivative accounting functions, prepare journal entries, and review month-end controls. Collaborate with teams across Derivatives, Risk, and Supply & Marketing to ensure accurate transaction identification and accounting treatment under relevant standards. Ensure the completeness and accuracy of derivative records and disclosures, including:

   • Identifying derivative instruments and evaluating contracts using ASC 815.

   • Evaluating hydrocarbon purchase/sale contracts for potential exceptions under US GAAP.

   • Managing derivative and fair value measurement disclosures, including new trading activities under the Asset Backed Trading Initiative.

   • Reconciliation of internal derivative records with external broker statements and cash payments.

   Apply professional judgment to identify and correct accounting issues/errors.

2. Reporting & Analysis: Prepare reports and analysis for routine and non-routine requests, including complex contract evaluations under ASC 606 (Revenue Recognition) and ASC 842 (Leases) to ensure proper accounting treatment. Support areas such as estimate earnings, quarterly/annual financial statements, and external reporting.

3. Policy & Procedure Development: Work with the Manager to develop, implement, and maintain compliance with derivative and technical accounting policies, procedures, and controls.

4. Collaboration & Guidance: Provide feedback to Derivatives & Technical Accounting Analysts and review their work. Serve as backup for the Manager as needed.

5. Other Duties: Perform additional tasks as assigned.

Job Duties II