Principal Accountant Accounting CFO GBS AM (132534)
Statoil is an international energy company with operations in 36 countries. Building on 40 years of experience from oil and gas production on the Norwegian continental shelf, we are committed to accommodating the world's energy needs in a responsible manner, applying technology and creating innovative business solutions. We are headquartered in Norway with 21,000 employees worldwide, and are listed on the New York and Oslo stock exchanges. In just a few years Statoil has positioned itself as one of the largest lease holders in deepwater Gulf of Mexico (GoM). Our GoM portfolio is managed out of our Houston office. The Statoil Houston office, which was established in 2002, also manages our Alaska, Marcellus, Eagle Ford and Bakken shale gas portfolios. To date Statoil has invested more than USD $11 billion in US upstream activities, and currently produces more than 150,000 barrels of oil equivalent a day. We have US offices located in Anchorage, Austin, Houston, Stamford and Washington D.C. USA, and are looking for talented people to contribute to our growing activity base.
Qualifications- BA/BS in Accounting
- CPA a plus.
- Minimum eight years energy industry/commodity experience.
- Inventory Accounting (LCM, MTM, Equity Production Accounting Rules)(Vessel, Rail, Pipeline, Tank)
- Accrual concepts and management.
- Derivative Accounting (FAS 133 or IAS 39) for swaps, options, forward physicals and structured transactions.
- IFRS Reporting.
- Strong experience and understanding of reconciliation methodologies.
- Financial reporting experience.
- Strong computer skills (esp. Excel and SAP )
- Experience working with senior level traders and operations personnel.
- Sarbanes Oxley experience a plus
- Use foresight, and identify opportunities and challenges
- Be imaginative, ambitious and stimulate new ideas
- Challenge accepted truths and enter unfamiliar territory
- Make clear demands on each other and push for constructive change
- Understand and manage risk
- Be truthful and act with integrity
- Be curious, work together and share experience
- Promote and value diversity
- Communicate in a precise way, give and accept constructive feedback
- Bring up ethical issues and challenges immediately
- Deliver on promises
- Continuously develop sound expertise, demonstrate commercial awareness and customer orientation
- Strive for simplification and clarity, and focus on value-adding activities
- Act decisively and be loyal to decisions
- Show dedication and endurance, follow through and pay attention to important details
- Cause zero harm to people and prevent accidents
- Reduce the negative impact of our activities and products on the environment
- Act within the law and comfortably within our own ethical policy
- Demonstrate social responsibility and contribute to sustainable development
- Respect the individual, help others to succeed and contribute to a positive working environment
- Purpose of position: The Principal Trade Accountant position is primarily responsible for performing the trade accounting function.
- Monthly reconciliation of trading systems to general ledger systems for multiple trading books and preparation of related journal entries (Includes various follow-up procedures throughout the month with front and mid-offices to ensure proper handling of reconciliation differences and outstanding accruals on a timely basis).
- Prepare profit & loss analytical reports for management purposes.
- Ensure proper control, reconciliation, & recording of financial and physically settled oil, oil products, natural gas and LNG trading contracts.
- Financial reporting: coordinate with the Accounting & Financial Compliance function to support group and separate statutory reporting requirements.
- Proper accounting treatment of trade-related agreements, LCM inventory adj., own use deferrals.
- Management Information System Reporting – MMP business line financial reporting.
- Financial Reporting Package schedules – inventory, accruals, etc.
- Provide support to the local internal control process for the Accounting & Controlling and Marketing & Supply processes.
- Internal and external audit work, internal control processes.
- Other project work as needed.
- Assisting Houston GBS.
- Assisting Stamford Asset Management.
- Acting as principle back up for other Trade Accountant book reconciliations.
- Main Job Contacts:
- Business area accounting function/network
- Stamford-based front, mid, & back-office personnel
- Internal and external auditors An Equal Opportunity Employer Females, Minorities, Veterans, Disables and Other Protected Groups. Statoil is a VEVRAA Federal Contractor – priority referral requested.
- Statoil offers a competitive salary and a comprehensive benefit package. Statoil is an equal opportunity employer.