Derivative Reporting & Technical Accounting
Location:
Posted:
November 10, 2016
Reference:
76652BR
Role synopsis
This position is part of the Accounting and Reporting team (A&R) in the NAGP business. The A&R team supports the commodity trading and marketing business of NAGP and is primarily responsible for the monthly financial reporting and close processes as well as the related accounting, financial analysis, and internal controls activities. Additionally, this role is a key contributor to the preparation of the BPEC audited financial statements (US GAAP). This position will report to the Head of Derivative Reporting & Technical Accounting.

Key accountabilities
  • Contribute to all aspects of the monthly and quarterly close processes with respect to derivative accounting activity for all NAGP commodities
  • Preparation of the annual derivative disclosures to be included in Group and statutory reporting.
  • Perform SOx controls per assigned CETs ( Control Evaluation Templates) in a compliant manner and provide evidence and related requests per internal and external audit requirements, including quarterly PBCs and the faciliation of external audit confirmations.
  • Support the quarterly and annual internal and external audits
  • Prepare the statutory reporting and monthly reporting requirements related to the standalone BP Energy Company financials.
  • Understand new business activities of NAGP in order to provide input on the accounting treatment of these transactions.
  • Provide advice to the NAGP finance teams on the application of the GRM, in particular in relation to energy commodity contracts, transportation contracts, lease accounting, consolidation evaluation and inventory accounting.
  • Experience in IFRS and US GAAP technical accounting guidance/ standards.
  • Interact with the business and other functions (e.g., Commodity Risk) to ensure the accuracy/integrity of financial accounts and reports
  • Stay abreast of emerging accounting literature, acting as a subject matter on new guidance affecting NAGP.


Essential Education
Accounting or Finance Bachelor's degree required.
Advanced degree or CPA required.

Essential experience and job requirements
  • 6-8 years of financial accounting experience in either public accounting or industry
  • 6-8 years of energy derivative accounting experience in the North American natural gas, power, or NGL industries
  • Some experience in IFRS and US GAAP, especially on the application of IAS 39/ASC 815 to energy trading commodity transactions.
  • Highly proficient in Microsoft Excel
  • Strong analytical skills; the ability to grasp and communicate trading concepts and their economic effects
  • High attention to detail and organization while managing multiple priorities in a fast-paced environment
  • Strong verbal and written communication skills; ability to communicate complex issues in a simple manner
  • Track record of delivering successful results within a team environment
  • Highly motivated with the ability and desire to consistently enhance personal and team performance
  • The ability to construct and articulate a logical argument in applying accounting literature to a particular transaction.
  • An ability and interest in understanding the commercial justification and economics behind structured transactions.
  • Assertive, self-starter coupled with integrity, confidence, and credibility.


Other Requirements (e.g. Travel, Location)
There are no additional requirements. Please respond with N/A below.

Desirable criteria & qualifications
  • Prior experience with a large regional or global participant in the energy markets
  • Prior experience with SAP and/or Business Objects  


Relocation available
No

Travel required
Negligible travel

Is this a part time position?
No

About BP
Our business is the exploration, production, refining, trading and distribution of energy. This is what we do, and we do it on a truly global scale. BP operates with business activities and customers in more than 80 countries across six continents. Every day, we serve millions of customers around the world. We are continually looking for talented, committed and ambitious people to help us shape the face of energy for the future.

Integrated Supply & Trading (IST) is BP's face to the traded markets for BP in oil, gas, power, chemicals and finance. IST's role is to enhance Group value through distinctive supply, commodity trading, risk management and information technology skills underpinned by a world class finance, control and compliance infrastructure. IST has a dynamic and highly skilled workforce, which creates value by combining analysis and commercial innovation with the material asset base of BP.

IST Finance operates in support of IST's strategic objectives, helping it to achieve its aim of being the world's pre-eminent energy trader, in a controlled and compliant way. IST Finance is an integral function within BP's global oil and gas trading and supply activities. It is accountable for short term planning and for all financial and middle office control and reporting activities. It also ensures consistency and monitors compliance in processes and Operating Standards. IST Finance operates around 3 Global processes: Accounting & Reporting, Trade Completion and Product Control and operates seamlessly with the Risk function to support the business.

IST fosters a diverse and inclusive workplace for all employees. We are proud of our stance on fairness, equal opportunity and meritocracy, which focuses on all of our employees reaching their full potential.

Segment
Integrated Supply & Trading

Closing Date
[ "12-Dec-2016" ]
A little about us:
One of the world's leading international oil & gas companies, BP employs over 80,000 talented minds in 80 countries, fostering innovation & diversity.

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