General Accounting Associate II - Commodity

Primary Purpose

Handles moderately complex accounting activities and prepares routine financial reports. Contributes to reliable financial data that informs departmental and organizational decisions.

Duties And Responsibilities

• Assists with accounting and reporting for commodity transactions and derivative instruments, including gathering data for contract terms, valuation support, settlement activity, and mark-to-market processes
• Prepares journal entries, account reconciliations, and supports month-end close activities related to trading and commodity operations
• Prepares financial reports and supporting schedules for internal and external reporting. Helps track and summarize physical and financial transactions to support financial reporting
• Supports audit activities by gathering documentation and assisting with auditor requests
• Prepares journal entries for inventory valuation and cost of goods sold and completes review checklists
• Reviews differences between expected and actual results, identifies key reasons for those differences, and shares meaningful observations
• Creates and reviews key financial reports, such as summaries of income, assets, and cash movement, and explains what the numbers mean
• Carefully checks financial records to ensure they match actual transactions, and looks into any inconsistencies to make sure everything lines up
• Prepares required paperwork, answers questions from reviewers or inspectors, and ensures all work follows company rules, professional standards, and legal requirements
• Performs other duties as assigned

Requirements

• Education Required: Typically requires a 4 year degree in a relevant field, or equivalent combination of relevant education and experience.
• Experience Required: Typically requires 2 years of related experience.
• Knowledge, Skills And Abilities Required:
  • Financial Accounting - The process of recording, summarizing and reporting a company's business transactions through financial statements.
  • General Ledger Administration - The record-keeping system for a company's financial data, with debit and credit account records validated by a trial balance.
  • Financial Regulatory Reporting - Financial reporting is a standard accounting practice that uses financial statements to disclose a company's financial information and performance over a particular period, usually on an annual or quarterly basis.
  • Data Analysis - Measuring and managing organization data, identifying methodological best practices and conducting statistical analyses.
  • Regulatory Compliance - Ensuring an organization's adherence to laws, regulations, guidelines and specifications relevant to its business processes.
  • Account Reconciliations - Comparing sets of financial records to ensure accuracy and prevent balance sheet errors.
  • Financial Analysis - Analyzes the financial statements and data to provide insights about the financial performance and position of the organization over time.
  • Document Management - Creating, distributing, using, maintaining and disposition of recorded information maintained as evidence of business activities and transactions.
  • Accounting Standards - Apply financial reporting framework prescribed by the relevant governing body to ensure all transactions meet regulatory requirements.
  • Financial Forecasting - The ability to prepare and present financial statements and reports, such as monthly financial statements and work-in-progress reports, to stakeholders.
• Preferred Qualifications:
  • Commodity Accounting: understanding of accounting for commodity purchase, sale, transportation, storage/inventory, and trading related transactions
  • Derivative Accounting: knowledge of accounting for derivative instruments, including recognition, measurement, valuation considerations, settlement accounting, financial statement presentation, and disclosure requirements
  • Experience with energy trading and risk management (ETRM) systems, such as Endur/Openlink