Skills: Financial Analyst
Experience: 5 + Years
Education: Bachelors/3-5 yr Degree
Location: Houston-One Allen Center, United States, TX, US
No location/work authorization restrictions found.
32648BR MOTIVA - Technical Accounting Lead - Houston, TX United States Houston-One Allen Center Motiva Enterprises is on a journey to become the safest and most profitable downstream company in the U.S. More than 3,700 dedicated professionals comprise the 50/50 joint venture between Shell and Saudi Aramco. Motiva has refineries located in Convent and Norco, Louisiana and Port Arthur, Texas with combined capacity of over 1 million barrels per day, making it the third largest manufacturing company in the Americas. A strategic distribution network of product terminals across the eastern and southern parts of the U.S. delivers quality gasoline and petroleum products to nearly 8,300 Shell-branded retail outlets. Be part of a dynamic and nimble organization where your talents are rewarded and your efforts make a difference in the company’s performance.
As announced on March 16, Motiva’s owners have signed a non-binding Letter of Intent to separate the assets and businesses of the joint venture. Saudi Aramco publicly stated at that time Motiva will be set up as an autonomous integrated downstream affiliate. As such, Motiva remains committed to managing its current business and preparing the organization to function as a stand-alone entity. Motiva is seeking talented professionals who want to make a difference in the company and the industry.
Motiva is developing its own technical accounting and policy group as a result of exiting the SLA with Shell on both technical accounting and products trading. This role is key in reviewing non-standard complex contracts, providing accounting advice and leading projects on adoption of new accounting standards. In addition this role is instrumental in performing qualitative and quantitative analysis on normal purchase and normal sale exemptions. Finally, this role will also update and maintain company accounting policies.
Lead the review and functional sign-off for all financial reporting aspects of new business proposals initiated by the business. These proposals often have implications in some areas of accounting that are recognized as most complex – derivatives/financial instruments, leases and special purpose entities.
Lead the implementation of new accounting standards / interpretations within the Company and co-ordination of the impacts across the businesses (this includes communication and discussion of policy updates to / with functional heads, auditors and senior management).
Review non-standard contracts and determine accounting treatment. Create templates and utilize tools to document these conclusion and house the contracts. As a part of this review accounting position papers made by needed.
Organize training on various technical issues including financial reporting, derivatives, Normal purchase normal sales and disclosures. Key audience includes front office and commercial staff.
Understands the concepts of normal purchase, normal sales (NPNS) and buy sell contracts. Ability to document NPNS contracts in line with accounting guidance under US GAAP and IFRS.
Highly flexible and able to work under tight deadlines and time pressure in to reach accounting conclusions which also require exercise of judgment before obtaining formal sign off from the head of technical accounting and policy. Strong understanding of US GAAP and IFRS including the differences impacting the refining industry.
Will be a back up to other reporting analysts and will be seen as a subject matter expert when it comes to NPNS requirements.
- Must have legal authorization to work in the US on a full-time basis for anyone other than current employer.
- Bachelor’s degree in Accounting or Finance, CPA preferred.
- Minimum five (5) years experience in the energy, refining and trading industry.
- Proven understanding of accounting concepts under both US GAAP and IFRS.
- Proven experience reviewing contracts and performing accounting assessments especially in the areas of leases, derivatives and variable interest entities.
- Proven experience in normal purchase normal sale contracts and the required qualitative and quantitative documentation.
- Proven ability to relate theoretical accounting literature to actual commercial business activities and communicate the impact to the business heads and Senior Management where required.
- Proven ability to exercise judgment and make recommendations based on technical accounting research interpretations and subject-matter expertise.
- Broad-based finance experience with exposure to roles in the accounting and controller organization.
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