Expert Analyst, Derivative Accounting

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Job ID#: 20646

Derivatives Accounting Specialist

Energy commodities trading and supply client is seeking to onboard a key niche Accounting professional requiring a technical expertise in derivatives and hedge accounting.  This is a high profile role interfacing with senior operations, financial, and executive leadership and requires a polished. 

Job Description

  • Performs complex derivatives and hedge accounting analysis and taskes  for the company's trading portfolios and buiinesses.
  • Coordinate with all key firm functions including Risk, Finance, Treasury, and other areas regarding commercial commodity transactions to:
    • understand strategies and objectives
    • monitor volumetric forecasts and timing performance
  • Must have the necessary background and technical skill to apply the appropriate accounting treatment to derivative transactions.
  • Reviews, analyzes, and interprets daily exposure and MTM P&L to ensure completeness, accuracy, and consistency with expectations.
  • Prepares and updates hedge documentation to capture the following: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.
  • Completes retrospective and prospective effectiveness tests using statistical regression analysis to ensure that designated hedges continue to meet the highly effective criterion.
  • Create journal entries to record derivative transactions into the GL system and prepare balance sheet recs to ensure the validity of financial positions and operating results.
  • Updates lead sheets and supporting schedules necessary to complete the monthly close processes and quarterly financial derivatives footnotes, and disclosures.
  • Assists with completion of daily and monthly end-of-period processes used to generate financial positions, mark-to-market valuation results, and journal entries for profit & loss reporting
  • Assists in reconciling financial derivative trades from internal systems to clearing broker statements and confirmations.
  • Identifies opportunities for performance and process improvement including transaction flow, systems, processes, and controls.
  • Maintains knowledge of new finance/accounting policies and regulations.
  • Works closely with the accounting and commercial team to ensure accurate financial reporting to banks, external and internal parties.
  • Assists in training and coaching other team members.
  • Assists in integration and implementation of new companies and business into the company.

Qualifications

  • Bachelor’s in finance or accounting required
  • Energy trading industry experience required
  • Minimum 5 years’ experience in energy trading accounting or related area required, 
  • Minimum 1-2 years' 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

Additional Information

  • Medical/Dental/Vision
  • 401(k) Flexible Spending Accounts
  • Other perks and benefits

Qualified inquiries: rreyna@proalt.com

 

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