Lead Accountant

3 weeks ago


Houston, United States Selby Jennings Full time

Selby Jennings is exclusively partnered with a leading Oil & Gas firm that is looking for a Lead Accountant with expertise in derivatives & hedge accounting. This company is experiencing incredibly exciting growth due to their high performance. This will be a highly visible role with an exciting career trajectory.


Responsibilities:

  • Undertake various derivative and hedge accounting responsibilities to support the energy trading business.
  • Collaborate with Risk Control, Finance/Treasury, and other departments on commercial commodity transactions to grasp strategies and goals, monitor forecasts, and ensure proper accounting treatment of derivative transactions.
  • Analyze daily exposure and Mark-to-Market P&L for accuracy and alignment with expectations.
  • Develop and maintain hedge documentation, including strategies, objectives, implementation methods, effectiveness tests, and back-testing results, to ensure adherence to accounting regulations.
  • Conduct retrospective and prospective effectiveness tests using statistical regression analysis to confirm hedge effectiveness.
  • Record derivative transactions in the general ledger and reconcile balance sheets to validate financial positions and results.
  • Update lead sheets and schedules for monthly close processes and quarterly financial derivatives disclosures.
  • Support daily and monthly end-of-period processes for financial position generation and profit & loss reporting.
  • Reconcile financial derivative trades across internal systems and clearing broker statements.
  • Identify opportunities for performance and process enhancement, including transaction flow, systems, and controls.
  • Stay updated on finance and accounting policies and regulations. Collaborate closely with the accounting and commercial teams to ensure accurate financial reporting. Provide training and coaching to team members.
  • Assist in integrating new companies and businesses into the firm.


Requirements:

  • Bachelor’s degree in finance or accounting
  • Derivatives/Crude Oil trading industry experience
  • 5+ years of experience in energy trading accounting, back office, or any related function
  • Experience with MtM Accounting
  • Strong knowledge of technical, derivative, and/or public accounting.
  • Familiarity with ETRM tool (RightAngle is preferred)
  • Familiarity with general ledger (GL) accounting software
  • Knowledge and understanding of US GAAP principles

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