Senior Accountant

SOI is seeking a seasoned Senior Accountant with specialized expertise in refinery accounting to join its finance team. This role requires managing intricate financial processes tied to oil refining operations, including cost allocation, inventory valuation, and margin analysis. The Senior Accountant bridges the operational aspects of refining with corporate finance, ensuring accurate cost tracking and compliance with regulatory standards. This position demands a thorough understanding of downstream oil and gas accounting, volumetric standardizations, and refinery-specific inventory metrics. The incumbent will lead a small team of two accounting professionals, guiding them in executing core accounting functions while fostering accuracy and operational alignment. The role involves working closely with operational teams to reconcile physical and ledger inventory data, managing joint cost and product allocations, and performing comprehensive margin and loss analyses. The Senior Accountant also handles financial reporting and audit support, including documentation and compliance with energy sector tax regulations. This position demands at least six years of experience in accounting, with a minimum of five years in refinery-specific roles, alongside a relevant bachelor's degree and a preference for professional certifications such as CPA or CMA.
Responsibilities
 

• Manage the allocation of joint manufacturing costs across multiple refinery product streams using Net Realizable Value or Sales Value at Split-Off models.
• Collaborate with operations and yield accounting teams to analyze volumetric data and reconcile physical inventory measured at standard temperature against ledger balances.
• Oversee mass balance monitoring and loss control activities, accounting for refinery shrinkage, evaporation, and process fuel consumption.
• Supervise cost accumulation for refinery cost centers, ensuring precise recording and distribution of costs including crude feedstock, freight, pipeline fees, chemicals, utilities, and maintenance overhead.
• Perform monthly Lower of Cost or Market tests on crude and finished product inventories to verify compliance with balance sheet valuation requirements.
• Prepare detailed Gross Refinery Margin performance reports that include yield metrics, product spreads, and variance explanations for refinery management.
• Record and manage revenues from by-products like sulfur and petcoke as offsets to primary refining costs.
• Lead and support internal and external audit processes by maintaining thorough documentation of downstream accounting processes and ensuring adherence to tax compliance standards within the energy sector.
• Guide and supervise a team of two accounting professionals, providing direction on refinery accounting processes and supporting professional development.
• Maintain up-to-date knowledge of accounting standards, regulatory requirements, and industry best practices related to refinery financial operations.
• Collaborate cross-functionally within the organization to ensure financial data integrity and facilitate timely financial reporting.
• Drive continuous improvement initiatives focused on refining accounting processes, cost tracking methods, and reporting accuracy.