Provides oversight of several key internal and external finance/accounting related responsibilities and is the first line manager concerning Accounting’s most critical and important output: financial statement reporting. Interfaces with resources throughout the organization to administer the financial statement close processes, including Colonial’s subsidiaries and joint ventures. In doing so, ensures that Colonial’s GAAP- and FERC-based financial statements are prepared timely and accurately ahead of their distribution. Colonial’s accounting team members – and particularly those that oversee the financial reporting process – must be capable of attaining a thorough understanding the business and supporting the additional complexity that comes with going to market as a regulated entity. Position holder must consistently monitor GAAP and FERC developments to identify, evaluate, implement, and document new guidance relevant to the operations of Colonial.
As required, this position holder integrates controls and processes of newly aquired and joint ventures through rationalizing and conforming those to Colonial’s practice. She/he interfaces closely with Internal Audit to ensure that the department maintains a standard of excellence, which standard will be measured and reported to the Senior Management Team and the Board of Directors.
The position holder will manage the Financial Reporting team by providing direction, oversight and development through coordinating deliverables and projects using Colonial’s performance management process.
Conducts daily work in compliance with Colonial’s safety policies and procedures. Demonstrates Colonial’s core values of Safety, Personal Integrity, Respect, Innovation and Teamwork in completing work assignments.
Essential Functions and Responsibilities -Support both GAAP and FERC financial reporting close and reporting processes that are responsive to internal and external demand for timely and accurate financial statements. Identifies and promotes process improvement opportunities by interfacing with Tax, IT, Treasury, and HR as required. Manages and prepares the most complex and confidential account reconciliations reported within Colonial’s financial statements - including those involving legal and environmental contingencies, compensation/equity benefit programs, and accounting for income taxes/uncertain tax positions. Support audit efforts with Ernst & Young annually; with FERC and shareholders as needed. Prepare reports for external filing and/or internal distribution (audited financial statements / Form 6). -As Bengal’s financial administrator must lead quarterly reviews, comfort letters, consents, etc. Coordinate the financial statement reporting process of Bengal and support the related budget process as well as the property / expense / revenue accounting that underpins both the plan and actual financials. 20% -Interfaces with internal / external resources (e.g. Business Development, FASB and other regulatory bodies) to think critically about and then implement changes brought forth by new ventures, changes in accounting literature, etc 10%. Identifies the need for a new or different resource mix before the Company becomes constrained. -Monitors adherence to internal controls, keeping current with changes in the business and new accounting and reporting systems to analyze and implement this new guidance. Manages the transition to optimize new accounting tool’s usage. 20% -Supports the protest/complaint/rate case process through frequent thought partnership with FERC counsel and other. Work closely with internal/external resources to ensure that new ventures and the terms of revenue contracts and asset/business purchases related to, are understood prior to completion and implementation. 10% -Contributes to the development and analysis of financial statement planning, which includes new legal entity reporting. Contributes to the mapping and pursuit of Colonial’s financial systems strategy, which will include systems migrations that afford Colonial with timely and cost effective reporting resources. 10% -Support resources that map and pursue the Company’s financial systems strategy and maintain management reporting using these systems in a manner that allows the Senior Management Team to make informed decisions about Colonial’s strategic investments. 10%
Minimum Required Bachelors of Science/Business Administration in Accounting or Finance 8-10 years Accounting experience CPA
Knowledge Skills & Abilities Knowledge Developing and applying knowledge of GAAP & FERC Accounting Understanding of the Pipeline industry Financial Analysis, Customer Contracts M&A issues that could affect accounting Venture structure implications included equity method and VIE experience Skills Extensive Computer skills (MS Office, Oracle or other large ERP, Host Analytics, Workday, and Blackline systems) Communication Customer Focus Strategic Thinking Detail orientation Achievement oriented Continuous Improvement Focus Results Focus Presentation (Concise & Effective) Team Oriented Abilities Effectively prioritize and manage multiple tasks Career Development of Others Interact effectively at all levels of the organization. Professional maturity and sense of urgency.
Physical Requirements Work is primarily performed in a typical office environment. Periods of prolonged sitting/ Use of personal computer and monitor frequently required. Visual acuity to read and prepare reports and documentation. Digital dexterity for operation of PC Keyboard and mouse. Ability to communicate in order to understand instructions, convey information and receive information.
About Colonial Pipeline Company
Colonial Pipeline safely and reliably transports refined petroleum products such as gasoline, diesel fuel, jet fuel, home heating oil and fuels for the U.S. military. Our pipeline system consists of more than 5,500 miles of underground pipe and above ground storage tanks and pump stations.
Every day, Colonial transports more than 100 million gallons of fuel. Most of it originates in the refinery-rich region of the Gulf Coast. Colonial's network of pipelines crosses 13 states, serving more than 265 marketing terminals in the Southern and Eastern United States.