Chief Accounting Officer

Company: The Energy People Group
Location: Midland
Posted on: February 1, 2025

Job Description:

SummaryReporting to the Chief Financial Officer (CFO), the Chief Accounting Officer (CAO) will be responsible for the overall finance and accounting functions for all entities, including budgeting, forecasting, internal and external reporting, technical accounting research, documentation, and application. Liaison with investors, banks, attorneys, external tax preparers, external auditors, and others. Reviews all key transactions (sales, purchases, fund formation) and is responsible for the continued improvement of internal controls. Part of the Executive Team and A&D Team. Supervise Accounting Managers and Staff, ensuring the overall effectiveness and efficiency of the Accounting Department.ESSENTIAL DUTIES AND RESPONSIBILITIES

• Prepare timely financial statements, cash flow analysis, and other reports to summarize and interpret current and projected company financial position. Ensure relevancy, integrity, and accuracy of all financial information to allow management to make appropriate financial decisions regarding all entities.
• Monitor compliance with federal, state, and local regulations, laws, generally accepted accounting principles (GAAP) and internal company policies.
• Development, maintenance, and periodic update of annual budgets for PBEX, LLC and PBEX Resources, LLC.
• Evaluate current accounting practices and controls and potential impact of new accounting/tax pronouncements on the entities.
• Review, investigate, and correct errors and inconsistencies in financial entries, documents, and reports.
• Coordinate monthly and annual accounting close processes.
• Administer DocVue system and integration with Wolfepak.
• Coordinate, maintain, and oversee all financial transactions.
• Track, plan, and ensure all state and federal tax returns are filed timely.
• Maintain capital accounts and oversee ownership records of all entities.
• Participate in the company's overall hedging strategy. Monthly, track and report hedging positions, and realized and unrealized gains and losses, ensuring compliance with GAAP.
• Calculate and record monthly depreciation, depletion, and amortization for all entities. Perform impairment testing on all entities when required.
• Record monthly revenue/expense accruals for all entities.
• Initiate wire transfers for acquisitions of assets.
• Maintain all corporate and partnership documents.
• Prepare financial statements, work papers and supporting schedules for the annual audit. Research technical accounting issues, document companies' positions and ensure compliance with applicable GAAP.
• Develop and update the Accounting Policies & Procedures manual.Collaborative Roles
• Report directly to the Chief Financial Officer (CFO) and interface directly with senior management team members, board of directors, advisors, and unitholders/investors.
• Liaison with external auditors, tax preparers and the Audit Committee.
• Participate in the Acquisition & Divestiture Team meetings on a weekly basis.
• Support the CFO as appropriate with capital structure strategy and raising debt and equity as needed to support development plans.
• Assist the CFO with short and long-term financial planning, economic analysis, and strategy.
• Coordinate with CT Corporation to ensure all entities are in good standing in all applicable jurisdictions.
• Represent the accounting department at board meetings.
• Maintain banking relationships and management of loans.Supervisory Roles
• Oversee accounting department, supervising the direct reports and all accounting contractors. Provide guidance and direction and lend expertise to all direct reports, ensuring the efficiency and effectiveness of the Accounting Department, that all questions are answered, and technical issues are resolved.
• Design and implement workflows to maximize efficiency and effectiveness of the overall Accounting Department and to ensure appropriate workload distribution across all accounting team members.
• Ensure accounting staff pursue appropriate professional development opportunities in compliance with the Accounting Policies & Procedures manual.
• Drive continued improvement in the individual and group performance of the accounting team members, especially in the areas of accuracy, timeliness, collaboration, efficiency, and professionalism.
• Provide technical accounting coaching and training to accounting department personnel to increase their knowledge base and technical skills. Be a resource for team members to leverage when needed on technical or general business issues.
• Foster improved communication and participation between accounting department members and other individuals and teams within the Company.
• Coach team members to assist them in reaching their professional goals, and ensure they understand their value to the Company and feel aligned with the goals of the Company.
• Review monthly bank reconciliations.
• Review and adjust accrued liabilities and investments in related parties.
• Review monthly distributions to partners.
• Approve monthly ACH and wire transfers to banks, investors, and others.
• Approve general and administrative expenses prior to payment.KNOWLEDGE, SKILLS, AND ABILITIES
• High level of integrity and ethical standards.
• Strong business acumen and analytical mindset.
• Ability to thrive in a fast-paced, dynamic environment.
• Excellent communication and organizational skills.
• Strong analytical and negotiation skills.
• Pleasant, professional demeanor and ability to interact with a variety of stakeholders.
• Self-starter, needing little supervision.
• Ability to solve problems and troubleshoot issues.
• Proficient in Microsoft Suite.
• Attention to detail on critical dates and timing.
• In-depth knowledge of GAAP/IFRS, financial reporting, and accounting principles.
• Proficiency in financial modeling, analysis, and capital markets.
• Experience with ERP systems and financial software (e.g., SAP, Oracle).
• Proficiency in WolfePak accounting software.MINIMUM REQUIREMENTS
• Bachelor's degree in Finance, Accounting, Business Administration, or other related field required. An MBA or CPA is strongly preferred.
• Minimum of 10 years of progressive financial management experience, with at least 5 years in a senior leadership role in the upstream oil and gas industry.PREFERRED QUALIFICATIONS
• Proven experience in financial planning and analysis, budgeting, forecasting, and strategic financial management.
• Extensive knowledge of the upstream oil and gas industry, including exploration, production, and financial challenges unique to the sector.
• Familiarity with industry-specific financial metrics, risk management practices, and regulatory requirements.
• Strong leadership and team management skills, with the ability to inspire and motivate a high-performing finance team.
• Excellent strategic thinking and problem-solving abilities.
• Strong communication and interpersonal skills, with the ability to effectively engage with executive leadership, investors, and stakeholders.
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Keywords: The Energy People Group, San Angelo , Chief Accounting Officer, Executive , Midland, Texas