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Senior Midstream Accountant

s6jdnw3ch0wv9hhyfnv6iktfl3q880068doxikzokaotmvbxd8qv8b7p8lbp2muq · 30+ days ago

Houston, TX, US

$64k+
Estimation

Full-time

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Sentoria's Midstream Oil and Gas client located in Houston, TX is hiring a Senior Accountant to assist the Marketing & Trading, Accounting Manager in the preparation and recording of the company's marketing and trading activities as well as supporting the marketing and risk management functions in support of Marketing & Trading.

Job Responsibilities:

Coordinate with Marketing, Finance/Treasury and other departments regarding commercial commodity transactions to understand strategies and objectives, monitor volumetric forecasts, and timing performance in order to apply the appropriate accounting treatment to commodity trading activity and related derivative transactions.
Prepare monthly owner/producer statements, including distribution calculations.
Prepare monthly severance tax calculations, filings and remittances.
Prepare monthly T1 and R2 reports.
Maintain division of interest files and process changes as needed.
Partner with Regional Team Accounting teams and Finance/Treasury department to incorporate financial derivatives gains and losses into business segment financial results.
Assist with the preparation of hedge documentation (as needed), including strategies, objectives, business purpose, and method of implementation, effectiveness tests, and back testing results in order to ensure compliance with accounting rules for derivatives and hedge accounting.
Maintain tracking logs of transactions according to products, strategies, and other differentiating attributes to determine the proper recognition timing of financial trades.
Perform volumetric analysis to ensure that forecasts used for hedging purposes are reasonable and probable based on commercial expectations and historical results.
Prepare monthly journal entries to record transactions into the general ledger system and prepare balance sheet reconciliations to ensure the validity of financial positions and operating results.
Update supporting schedules necessary to complete the monthly close processes and quarterly financial derivatives footnotes, and disclosures.
Assist external auditors in the quarterly reviews and annual audits of ]Marketing & Trading, including transactions, analysis and financial statement footnotes and disclosures.
Prepare as required daily margin analysis and settlements
Validate, reconcile, and process payments for exchange and over-the-counter broker fees for all commodity financial trades.
Maintain transaction data interfaces/uploads, reference data, and other custom configurations for the hedge accounting system.
Assist in completing the daily and monthly end-of-period processes used to generate financial positions, mark-to-market valuation results, and journal entries for profit & loss reporting.
Maintain commodity prices and interest rates for historical, spot and forward periods by commodity, location and index for use in valuing transaction data in multiple systems of record.
Assist in reconciling financial derivative trades from internal systems to clearing broker statements and confirmations.

Job Qualifications:

Five (5) years of prior work experience in a crude oil, natural gas or NGL marketing and trading activity, risk control, accounting, or contract administration function, preferably in the energy industry.
Solid accounting fundamentals including journal entries, financial statement analysis, revenue and cost recognition concepts and inventory valuation.
Knowledge of and experience in the application of hedge accounting rules pursuant to ASC 815 (formerly FAS 133), particularly in a commodity marketing or trading environment is preferred.
Strong analytical skills necessary for understanding marketing strategies, transaction structures, risk exposures and business impacts across a variety of asset-based activities.
Exceptional proficiency in data management including spreadsheet proficiency (functions, pivot tables and basic macros).
Required: Strong Excel skills
Working knowledge of SAP and WolfePak Software.

Bachelor's Degree from an accredited four-year university or college.

Preferred: Certified Public Accountant

•

Last updated on Oct 5, 2023

About the company

S

s6jdnw3ch0wv9hhyfnv6iktfl3q880068doxikzokaotmvbxd8qv8b7p8lbp2muq

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