The Requirements
To meet the basic qualification for this role, you will have legal authorization to work permanently in the United States for any employer without requiring a visa transfer or visa sponsorship. In addition, to be a good fit for the Senior Inventory Accountant opportunity, you will have:- A bachelor's degree in Accounting, Finance, or Business
- 4 to 7 years of experience and strong knowledge of inventory valuation and costing
- A solid understanding of month-end close and FIFO
- Proficiency across MS Office Suite (Outlook, Access, Word, PowerPoint, etc.), with particularly high proficiency in Excel
- Familiarity with SAP (MM/SD/FI/CO modules) Quick question for you - click here
- Experience with downstream oil & gas accounting
- Familiarity with refinery processes, ideally in a vertically integrated refining environment that includes both crude oil refining and refined products (fuel) delivery
- Strong understanding and application of generally accepted accounting principles (GAAP) and theories.
- Basic knowledge of energy trading risk management (ETRM) systems, and how they interact with SAP
- Strong initiative to research issues, develop potential solutions, and effectively partner with other business areas to drive issue resolution in a way that strengthens the overall organization
- Solid analytical skills
- An organized approach and attention to detail
- The ability to work independently and interdependently
- Good interpersonal skills
- Fluency in English and strong verbal and written communication abilities
Pictured: Par Pacific has invested over $95 million over the last four years to modernize, expand, and upgrade both refinery and pipeline/logistics operations in Wyoming.
The Role
You will report to the Manager, Inventory Accounting & Analysis, and also interact regularly with the Manager, Funding Agreement Analysis, both part of the larger Margin Controlling team. You will be responsible for all monthly FIFO inventory valuation and accounting activities across the role's assigned market area(s). This will include analysis and handling of all Margin Controlling designated accounting activities that occur under the scope of the company's hydrocarbon inventory financing agreement. In addition, you'll take point on ongoing review, analysis, and actuals reporting of all hydrocarbon inventories, including the inventory financing agreement, plus other related gross margin activities that occur within the role's assigned market area(s). Quick question for you - click hereOne of your first priorities will be to develop (and continue developing) a subject matter expert (SME) level understanding (and ownership) of all hydrocarbon inventory accounting and valuation activities, related inventory costing activities, and the full accounting treatment of all hydrocarbon inventory financing activities related to the J. Aron agreement.
Ideally, you will come in with a strong understanding of vertically integrated refiners, then build out an expert (market area focused) understanding of all the assigned Par assets and related business performance drivers. Management will call on you to provide explanations of hydrocarbon inventory related financial impacts, their causes, and periodic variance explanations. This will include walking the GAAP books timing of hydrocarbon activity financial impacts back to the Management team's expectations of the same financial impacts for both inventory and the complex J. Aron financing agreement.
Equally important, you will need to be able to closely and effectively partner with other departments and process owners across the Par Pacific landscape. As the Gross Margin, actuals reporting, focal point, you'll work closely with Commercial, Mid-Office, FP&A, and Treasury, in addition to the other Controller's team areas such as SEC reporting, Internal Audit, and Operational/Tax/Hedge Accounting to ensure Par Pacific's books are properly stated and reported with regard to all production and trade related (i.e. Gross Margin) activities.
More specifically, you will:
- Perform inventory accounting and analysis for each material's monthly purchases, sales, consumption, production, and storage (materials include crude, other feedstocks, refined products, other purchased fuel blendstock, and necessary refinery lifecycle materials such as catalysts and additives)
- Perform FIFO valuation and periodic costing of materials on hand at period end, including LCM adjustments
- Prepare month-end balance reconciliations for inventory and inventory exchange activity, and resolve discrepancies as appropriate
- Ensure accurate accounting for secondary costs (e.g. transportation, costs of production, etc.) in inventory
- Prepare, analyze, and monitor the supporting entries and schedules associated with our inventory financing agreement with J. Aron
- Work closely with mid-office to review trade related activity and gather settled cargo volumes and prices
- Read trading contracts to ensure understanding of negotiated deal settlements and determines appropriate accounting treatment
- Review and reconcile material movements for all assigned Par entities and plant locations
- Perform cost of sales analysis and prepare any adjusting entries
- Analyze and report actual results versus expected results to management
- Coordinate with Commercial, Contracts, FP&A, and other teams on analysis related to crude supply, pricing, gross margin and other related areas
- Perform SOX controls and maintain evidence of control for assigned area(s) of responsibility
- Provide auditors with necessary support as part of quarter-end/annual review
- Prepare necessary disclosures for SEC filings
- Handle special projects as assigned
- Perform other duties as assigned
What's in It for You
Employee value propositionPar Pacific is a growing energy company that provides more opportunity and career growth potential because of our ambition, entrepreneurial mindset, premier market position, and integrated business systems. Working at Par Pacific is different. Because Par is a smaller energy company, employees have the opportunity to make a great impact on the business and to influence decisions. People truly have amazing careers at Par because they are exposed to all areas of the company and are connected to many industry experts.
Collaborative team
We are proud of our collaborative culture where we foster teamwork, open communication and innovation. We work together to draw up solutions, and we are committed to making business improvements together wherever we can. If you want to add your voice to a strong team, this could be a great fit for you!
Unique culture
There is nothing ordinary about Par Pacific -- an unorthodox niche player in the energy space that drives operations from production-to-delivery. And there's certainly nothing ordinary about Par Pacific people. If you're at Par, you're a driven, creative thinker, and a hardworking, entrepreneurial professional that loves to win. If that describes you, you'll fit right in!
Dynamic environment
Our ongoing strong growth and commitment to continuous improvement mean there is positive change under way. That change can create advancement opportunities for strong performers. Prove yourself, and this role could be a great stepping-stone to other positions within the company.
Location, location, location
Because Par Pacific is located in some of the most beautiful places throughout the country, our employees get to make these places their home and enrich their lives. The office where you'll work is in the Memorial City area of Houston, near the Memorial City Mall. It's a vibrant area of the city with plenty of places for lunch or to wind down after work. We also have lots of free parking.
Opportunistic growth strategy
At Par Pacific, we look for operations with strong fundamentals and great employees who can move a business forward. Our management team has deep experience in the energy industry, as well as in leading mergers, acquisitions, and integrations of newly acquired companies.
Excellent compensation
In addition to a competitive salary and bonus opportunity, we offer a strong comprehensive benefits package that includes medical, dental and vision insurance; life and AD&D insurance; a 401(k) with company match; a robust paid-time-off and vacation benefit, retirement savings plans; employee assistance programs; gym membership allowance, and more.
Pictured: Our Oahu refinery is part of an integrated statewide logistics system that includes 8 terminals, 3 barges and 27 miles of pipeline.
Keys to Success
We recognize that there will be a learning curve -- you will work with a variety of factors, including a supply and offtake agreement, in markets that are constantly in motion. We'll provide support; for example, the incumbent will be available to help you before moving to another opportunity in Par Pacific. At the same time, you should be proactive about getting up to speed quickly.Success in this role will require initiative and analytical curiosity. Far from simply plugging numbers into models, you should ask questions and dive deeper to research problem areas. We'll look to you to keep an eye out for ways to improve processes.
The role will require a high degree of confidence and an easy-going personality as you interact with a wide variety of people. We're less concerned about titles and hierarchy than about getting the job done. It won't be unusual for the CFO or Controller to approach you directly with a question.
While there will be clear monthly rhythms in the position, you also will need to be flexible as priorities shift and as our company continues to grow. The Managers will be resources for you, but you should take pride in achieving goals independently -- and also contributing as a team player.