Manager, Utility Commodity Accounting

Job title: Manager, Utility Commodity Accounting

Company: AltaGas

Job description: Job DescriptionPosition Summary
Has direct responsibility over the accounting and reporting for the Company’s natural gas accounting and derivative accounting function. Responsible for improving the accounting and reporting processes for these functions, including optimizing the use of WGL’s current systems.Tasks and Responsibilities

• Responsible for understanding, maintaining and closing Washington Gas’ wholesale gas purchase and sales transaction system, Gaspro, as well as all entries and reconciliations to the Company’s financial system of record, PeopleSoft.

o Responsible for derivative related accounting, compliance, reporting and analysis, including the review of the quarterly derivative footnote disclosures under FASB ASC Topic 815 (Derivative and Hedging) and FASB ASC Topic 820 (Fair Value Measurement and Disclosure).

• Reviews Mark-To-Market (MTM) adjustment journal entries to include related asset optimization margin sharing deferred MTM impacts.
• Ensure all derivative accounting policies and procedures are documented and maintained.
• Reviews calculations and analysis critical to the accurate recording of complex transactions, including those related to purchase gas cost and storage inventory using average cost FIFO pricing methodology.
• Develops and maintains special studies used to determine reserve requirements (i.e. Lost and Unaccounted-for Study).
• Reviews propane, hexane and odorant liquid inventory transactions.
• Provides technical expertise for PeopleSoft and GasPro applications, including the development of reports and account maintenance in GasPro.
• Oversees the cash application process in GasPro and reconciles gas purchase clearing account.
• Works closely with the Rates Pricing Group and Energy Acquisition to ensure changes are appropriately reflected in Gaspro, deliverables are timely, and to reconcile the Company’s regulatory cost recovery ACA mechanism.
• Reviews the calculation of Lower of Cost or Net Realizable Value Market (LOCNRV) for System storage assets.
• Reviews journal entries for accuracy, completeness, and validity to include, GasPro entries, storage and ACA carrying cost.
• Conducts analysis of financial transactions through the review due diligence analysis and explains variations from current year to prior year results.
• Oversees the unit’s participation in the preparation and detailed review of external and internal reports (i.e. Energy Information Administration, Annual Report, SEC Filings, and Board Review Package, etc.).
• Provides responses to inquiries by senior management, other business units, and internal and external auditors.
• Establishes and continuously improves the assigned section’s policies and procedures, work processes and systems.
• Responsible for delegating responsibilities, monitoring work performance to ensure timely and accurate completion of tasks, and reviewing and checking work for accuracy.
• Coaches and assists staff in developing and/or enhancing their skills and proficiencies.
• Strives for continuous improvement to all processes and engagement from all stakeholders

o Reviews monthly and annual reports to federal, regulatory, and state agencies.
o Reviews account reconciliations and researches and problem solves variances.Qualifications, Skills and Abilities

• Bachelor’s Degree accounting, finance or a related discipline required
• 7+ Years experience in general ledger, accounts receivable, account reconciliations, auditing or other financial or IT field related to the tasks and responsibilities of this job required5+ Years Management experience required
• Knowledge of FASB ASC Topics 815 (Derivatives and Hedging) and 820 (Fair Value Measurement and Disclosure) preferred
• Demonstrated strong experience with and proficiency in the use of PeopleSoft (or a similar enterprise financial system such as SAP) and various reporting tools (query, nVision, etc.) and data mining tools (Access, etc.) required
• CPA preferred
• Experience in the natural gas/regulatory industry, preferred.
• Demonstrated working knowledge of GAAP.
• Demonstrated ability to logically and concisely present complex messages to diverse audiences at all levels of the organization, both verbally and in writing.
• Demonstrated ability to establish rapport and effective working relationships with business partners, supervisors, peers and teams.
• Proven ability to use computer software and applications such as Microsoft Office, including advanced Excel, to share, retrieve, research and present business information.
• Demonstrated ability to analyze and interpret data and to identify relevant issues in solving business problems.

We offer a competitive salary range of $108,000 to $148,500 per year, commensurate with experience, education, and skills. In addition, we provide a comprehensive benefits package including health insurance, retirement plans, and paid time off.The Company values diversity in its workforce and encourages United States military veterans and service members who meet the qualifications to applyWhy 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. AltaGas assets include Washington Gas/WGL, SEMCO, and Petrogas. 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 1.7 million customers’ homes and businesses through regulated natural gas distribution utilities across four jurisdictions in the United States and two regulated natural gas storage utilities in the United States. Learn more about our team, vision, and strategy.To learn more about our mission:For Canadian hires: AltaGas hires personnel on the basis of job-related qualifications. All qualified applicants will receive consideration without regard to a person’s ancestry, place of origin, colour, ethnic origin, citizenship, creed, sex, sexual orientation, gender identity or expression, age, record of offences, marital status, family status or disability or any other characteristic protected by applicable law.For U.S. hires: WGL/SEMCO/AltaGas offers a total rewards package that includes competitive pay, incentive bonus plans, holiday pay, 401K matching and a wide array of benefits. These benefits including medical, dental and vision coverage are designed to help you and your family stay healthy. We also have paid time off (PTO) to balance the demands of your work and personal life. Available benefits vary depending upon the specifics of the role.U.S. affiliates of AltaGas are committed to equal employment opportunity and providing reasonable accommodations to applicants with physical and/or mental disabilities. We value and encourage diversity and solicit applications from all qualified applicants without regard to race, ethnicity, religion, gender, age, national origin, marital status, sexual orientation, gender identity, family responsibilities, matriculation, physical or mental disabilities, political affiliation, genetic information, status as a protected veteran or any other characteristic protected by federal, state, or local law.

Expected salary: $108000 – 148500 per year

Location: Calgary, AB

Job date: Wed, 18 Dec 2024 07:30:01 GMT

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