Description
TEMPORARY MANAGER, DERIVATIVES ACCOUNTING
Why work at AltaGas?
AltaGas is a North American energy infrastructure company with a focus on owning and operating assets that provide clean and affordable energy to our customers. Our talented team, nearly 3,000 strong, leverages the strength of our assets and expertise along the energy value chain to connect customers with premier energy solutions - from the well sites of upstream producers to the doorsteps of homes and businesses to new markets around the world.
We deliver clean and affordable natural gas to approximately 1.6 million customers' homes and businesses through regulated natural gas distribution utilities across five jurisdictions in the United States and two regulated natural gas storage utilities in the United States. Learn more about our team, vision and strategy.
How do you fit in?
Reporting to the Director Finance, Midstream, you will be responsible for monitoring, accounting, reporting and analysis of business activity related to derivatives and financial instruments at AltaGas. This position is responsible for mark-to-market (MTM) accounting and reporting for natural gas, natural gas liquids (NGL) and crude trading activities. This is an 18 month term.
What you'll be doing:
- Participate in the evaluation and implementation of derivative accounting and reporting standards, including the development or refinement of current practices, policies and procedures.
- Completion of month-end close procedures including analysing and documenting MTM roll-off waterfall charts, comparing previous period MTM figures current period amounts, showing a reconciliation of the reason for the change, MTM of new items, roll-off (settlement of expiring derivative contracts), forward price changes, and foreign exchange
- Evaluation and monitoring of net settlement of commercial contracts and physical deals transactions. Assessing and documenting normal-purchase-normal-sale (NPNS) elections and continued compliance with such elections
- Reconcile the economic MTM deals from the Enterprise Trading and Risk Management (ETRM) system to accounting MTM values, explaining all differences
- Review of NPNS deals with contracts team and compare to gas day settlements to confirm completeness
- Reconcile broker monthly statements to MTM values in the ETRM system and accruals in general ledger (JDE), explain all differences
- Quarterly review of "approved product list" in ETRM, preparing a MTM of each approved product type, comparing to prior year, explain differences
- Create and maintain the knowledge of US GAAP reporting requirements for MTM accounting and lead in-house annual training plan for the contracts team to assist in flagging potential derivatives
- Monthly - Margin account comparison, monitoring month-to-month movement
- Liaise between front office, middle office, back office and management to develop and maintain flow of information
- Drive technology and automation efforts as they apply to derivative accounting processes and financial reporting, assist with improving current processes and ETRM system (Allegro)
- Support the back-office team to ensure compliance with SOX and internal controls
- Other duties as requested
What you must have:
- Bachelors' degree (Commerce, Business Administration or related discipline) and professional accounting designation (CPA)
- Minimum 3 to 5 years of experience in technical accounting and marketing accounting roles
- Experience with research and analyze technical accounting and reporting issues and communicate conclusions to management and external auditors
- Demonstrated initiative and problem-solving skills
- Excellent communication skills - written and verbal. Candidate must be able to work with teams with varying backgrounds, and to communicate to leadership
- Able to work under pressure with minimal supervision, have a strong attention to detail and be able to prioritize and meet tight deadlines
- Excellent excel skills
- Knowledge of Allegro, JD Edwards and Power BI considered an asset
Where you'll be working:
This position will be located in our Head Office in downtown Calgary, AB. To learn more about our organization please visit AltaGas 101.
AltaGas Ltd.
Canada
www.altagas.ca
