Sr Derivatives Accountant

2 weeks ago

Houston, United States OPTIMUS (TX) Full time

A key Optimus client is looking for a Sr Derivatives Accountant. The purpose of this job is to support the financial decisions and accounting processes for our client by investigating, collecting, and reporting operational and financial data and performing moderately complex analysis. The client is in office daily.

Qualified candidates, please send your resume to Jennifer.Hibbetts@optimus-us.com.

In this role you will:

  1. Perform multiple derivatives and hedge accounting tasks in support of the company.
  2. Coordinate with Risk Control, Finance/Treasury, and other departments regarding commercial commodity transactions to understand strategies and objectives, monitor volumetric forecasts, and timing performance to apply the appropriate accounting treatment to derivative transactions.
  3. Review, analyze and interpret daily exposure and Market to Market ("MTM") P&L to ensure completeness, accuracy, and consistency with expectations.
  4. Prepare and update hedge documentation including strategies, objectives, business purpose, and method of implementation, effectiveness tests, and back-testing results to ensure compliance with accounting rules for derivatives and hedge accounting.
  5. Complete retrospective and prospective effectiveness tests using statistical regression analysis to ensure that designated hedges continue to meet the highly effective criterion.
  6. Create journal entries to record derivative transactions into the general ledger system and prepare balance sheet reconciliations to ensure the validity of financial positions and operating results.
  7. Update lead sheets and supporting schedules necessary to complete the monthly close processes and quarterly financial derivatives footnotes, and disclosures.
  8. 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
  9. Assist in reconciling financial derivative trades from internal systems to clearing broker statements and confirmations.
  10. Identify opportunities for performance and process improvement including transaction flow, systems, processes, and controls.
  11. Maintain knowledge of new finance/accounting policies and regulations.
  12. Work closely with the accounting and commercial team to ensure accurate financial reporting to banks, external and internal parties.
  13. Assist in training and coaching other team members.
  14. Assist in integration and implementation of new companies and business into the company.

Qualifications
  • Bachelor's degree in finance or accounting required
  • Energy trading industry experience required
  • Minimum 5 years' experience in energy trading accounting or related area required
  • Experience with MTM Accounting required
  • Strong knowledge of technical accounting, derivative, and public accounting (Big 4 preferred)
  • Familiarity with Right Angle or similar ETRM system preferred
  • Familiarity with Lawson or other general ledger (GL) accounting ERP software preferred
  • Knowledge and understanding of generally accepted accounting principles (GAAP) preferred

Per our client's specifications, candidates are required to be US Citizens, Green Card holders, or independently authorized to work in the US . We are unable to provide H1 visa sponsorship at this time.

Tagged:Accounting

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