Manager Accounting - Revenue Reporting

Diamondback Energy - Oklahoma City, OK

Full-time - Manager

Oklahoma City, OK

Oil and Gas Extraction

About the position

The Manager of Accounting - Revenue Reporting position is a critical role within the organization, focusing on the management and development of personnel dedicated to lease revenue analytics, reporting, and accruals. This position requires a high-level understanding of revenue reporting processes and compliance with applicable accounting standards, particularly US GAAP. The manager will oversee the daily activities of the revenue reporting team, ensuring that all deadlines are met and that the team operates efficiently and effectively. In this role, the manager will be responsible for ensuring compliance with Sarbanes Oxley regulations and internal control processes. This includes reviewing contracts to ensure that revenue is recorded accurately and in accordance with established policies. The manager will also assist with both internal and external audits, providing necessary documentation and support as required. A significant part of the role involves monitoring and overseeing the month-end accruals and revenue reporting close processes, ensuring that all financial data is accurate and timely. The manager will play a key role in strategic decision-making, providing insights that affect various revenue streams. This includes preparing monthly volumetric reporting and reviewing revenue accruals for accuracy before they are posted into the accounting software. The position requires maintaining close working relationships with various departments, including Production, Division Order, and Operational Departments, to ensure seamless communication and collaboration. Additionally, the manager will be responsible for mentoring and developing team members, conducting annual reviews, and addressing personnel issues as they arise. The role also involves creating and improving workflow processes, identifying areas for automation, and implementing process improvements to enhance efficiency within the team. Overall, this position is essential for ensuring that the revenue reporting function operates smoothly and in compliance with all regulatory requirements.

Responsibilities

• Manage the daily activities and staff of the revenue reporting team to ensure deadlines are met
• Ensure compliance with applicable policies and review contracts to ensure that revenue is recorded in compliance with US GAAP
• Ensure all revenue-related policies and procedures are documented and followed
• Ensure compliance with Sarbanes Oxley and internal control processes and monitoring procedures
• Assist with internal and external audits and reporting assigned
• Monitor and oversee the month end accruals and revenue reporting close processes
• Manage, coordinate, and review internal and external audit requests and follow-up
• Assist with the preparation of monthly volumetric reporting
• Provide input to strategic decisions that affect the numerous revenue streams
• Review revenue accruals for accuracy and compliance with contracts prior to posting into the Accounting Software
• Maintain a close working relationship with Production, Division Order and Operational Departments
• Review quarterly and year end reports for Financial Reporting & SEC teams
• Present monthly accrual vs actual PPA reports to various departments and upper management
• Review journal entries related to payouts, A&D activity, revenue reclass, etc.
• Prepare monthly general ledger reconciliations, coordinate team analytics and assist in reconciling
• Communicate effectively to resolve any escalated issues arising from operations and/or requiring coordination with other departments
• Create workflow processes between team members
• Identify and communicate areas for automation and process improvements
• Create and/or improve revenue accrual processes to enhance efficiency
• Mentor, coach, and develop team members along their career path and coordinate the training of new team members
• Interview new potential team members and make hiring recommendations
• Prepare and conduct annual reviews for team members and address and resolve personnel issues as they occur
• Other responsibilities and reporting as assigned by management

Requirements

• Bachelor's degree in Accounting required
• Minimum ten (10+) years of Oil and Gas Accounting experience
• Five (5+) or more years of experience in progressive accounting leadership roles
• Experience with SAP
• At least ten (10+) years of demonstrated experience in Microsoft Office (i.e. Excel, Word, PowerPoint, Outlook)

Nice-to-haves

• Experience in a similar revenue reporting-focused position
• Team-focused individual
• Strong analytical skills
• Ability to suggest and implement process improvements to increase effectiveness while ensuring SOX compliance
• Communication skills to effectively work with all levels of an organization
• Flexibility to grow and adapt with company needs
• Ability to multi-task in a fast-paced environment