Expert Analyst, Derivative Accounting

Company Description

Pilot Company is an industry-leading network of travel centers with more than 30,000 team members and over 750 retail and fueling locations in 44 states and six Canadian provinces. Our energy and logistics division serves as a top supplier of fuel, employing one of the largest tanker fleets and providing critical services to oil operations in our nation's busiest basins. Pilot Company supports a growing portfolio of brands with expertise in supply chain and retail operations, logistics and transportation, technology and digital innovation, construction, maintenance, human resources, finance, sales and marketing.

Founded in 1958 by Jim A. Haslam II and currently led by CEO Adam Wright, our founding values, people-first culture and commitment to giving back remains true to us today. Whether we are serving guests, a fellow team member, or a trucking company, we are dedicated to fueling people and keeping North America moving.

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, protected veteran status or any other characteristic protected under applicable federal, state or local law.

Job Description

The purpose of this job is to support the financial decisions and accounting processes for Pilot Energy by investigating, collecting, and reporting operational and financial data and performing moderately complex analysis.

In this role you will: 

1. Perform multiple derivatives and hedge accounting tasks in support of Pilot Energy.
2. Coordinate with Risk Control, Finance/Treasury, and other departments regarding commercial commodity transactions to understand strategies and objectives, monitor volumetric forecasts, and timing performance to apply the appropriate accounting treatment to derivative transactions.
3. Review, analyze and interpret daily exposure and Market to Market (“MTM”) P&L to ensure completeness, accuracy, and consistency with expectations.
4. Prepare and update hedge documentation including strategies, objectives, business purpose, and method of implementation, effectiveness tests, and back-testing results to ensure compliance with accounting rules for derivatives and hedge accounting.
5. Complete retrospective and prospective effectiveness tests using statistical regression analysis to ensure that designated hedges continue to meet the highly effective criterion.
6. Create journal entries to record derivative transactions into the general ledger system and prepare balance sheet reconciliations to ensure the validity of financial positions and operating results.
7. Update lead sheets and supporting schedules necessary to complete the monthly close processes and quarterly financial derivatives footnotes, and disclosures.
8. Assist in completing the daily and monthly end-of-period processes used to generate financial positions, mark-to-market valuation results, and journal entries for profit & loss reporting
9. Assist in reconciling financial derivative trades from internal systems to clearing broker statements and confirmations.
10. Identify opportunities for performance and process improvement including transaction flow, systems, processes, and controls.
11. Maintain knowledge of new finance/accounting policies and regulations.
12. Work closely with the accounting and commercial team to ensure accurate financial reporting to banks, external and internal parties.
13. Assist in training and coaching other team members.
14. Assist in integration and implementation of new companies and business into Pilot Energy.

Qualifications

• Bachelor’s degree in finance or accounting required
• Energy trading industry experience required
• Minimum 5 years’ experience in energy trading accounting or related area required
• Experience with MTM Accounting required
• Strong knowledge of technical accounting, derivative, and public accounting (Big 4 preferred)
• Familiarity with Right Angle or similar ETRM system preferred
• Familiarity with Lawson or other general ledger (GL) accounting ERP software preferred
• Knowledge and understanding of generally accepted accounting principles (GAAP) preferred

Additional Information

• Nation-wide Medical Plan/Dental/Vision
• 401(k) Flexible Spending Accounts
• Adoption Assistance
• Tuition Reimbursement
• Weekly Pay