Vice President, Financial Reporting/Risk Accountin...

JOB TITLE:  Vice President, Financial Reporting/Risk Accounting    

IMMEDIATE SUPERVISOR’S JOB TITLE:  Chief Financial Officer

JOB SUMMARY: 

Position description/responsibilities

• Provide technical accounting consultation to internal structure group and commercial personnel on proposed and completed commodity contracts to determine proper accounting treatment.


• Research of technical accounting guidance and literature within International Financial Reporting Standards (IFRS) to determine adequate accounting policies and procedures.


• Perform monthly accounting close procedures for commodity trading contracts for multiple legal entities for local and head office reporting requirements that includes multiple financial accounting systems.


• Manage processes to verify that monthly P&L per the trade system as related to derivative activity is accurately recorded to the general ledger. Prepare and review manual adjustments to trade system P&L as necessary per IFRS


• Prepare monthly and quarterly disclosure schedules as related to derivative exposure via global corporate reporting system, including direct coordination with North American and Global consolidation teams


• Ensure monthly reconciliation of results among multiple financial accounting applications, including the preparation and review of balance sheet reconciliations


• Develop and manage reconciliation processes to ensure that general ledger results are consistent with Front Office P&L reporting, including heavy interaction with Mid-Office group.


• Coordination with external audit team regarding testing of derivative activity

Knowledge, skills and personal characteristics

• Knowledge of US GAAP and/or International Financial Reporting Standards (IFRS) accounting literature as it relates to derivatives and mark to market accounting. Specific knowledge of IFRS 7, IAS 32, IAS 39, IAS 2 and FAS 157 are a plus.


• CPA required


• Five or more years experience in energy trading industry with experience in fair value accounting for commodity derivatives


• Candidate must have a Bachelor’s Degree in Accounting, Master’s Degree a plus


• Previous financial reporting and general accounting experience


• Ability to collaborate with other team members to achieve a stated level of excellence.


• Possess a consciousness and commitment towards excellence.


• Strong analytical skills with the ability to be very detail oriented as required, but ability to possess the “big picture”

• Flexible and team-oriented with a positive attitude and willingness to learn. 

• Technical knowledge or experience working with Microsoft applications such as Excel.


• Ability to multi- task and work in an open environment


• Highly energetic team player with good communication skills