Job Description

HiGreetings of the Day.We have a critical opening with our client Commercial GL for Bangalore LocationExperience: 5+ yrsLocation: BangalorePayroll: CIEL HRMode of Employment: ContractJob Summary:The Senior Accountant - Commercial Accounting is responsible for managing and analyzing accounting activities related to the commercial operations of the oil refining business, including crude oil purchases, refined product sales, and logistics. This role ensures the accurate and timely recording and reporting of commercial transactions, focusing on maintaining ledger integrity, preparing reconciliations, and supporting month-end close. Additionally, the Senior Accountant provides insights into financial performance through margin analysis and collaborates with trading, operations, and inventory teams to support strategic decisions. This role requires advanced accounting skills, deep knowledge of industry practices, and experience in the energy sector.Key Responsibilities: * Transaction Processing and General Ledger Maintenance:

• Record and reconcile complex transactions related to crude oil procurement, sales contracts, and inventory adjustments.
• Ensure the accuracy of general ledger accounts related to commercial activities and conduct variance analyses.
• Collaborate with trading and logistics teams to monitor, document, and verify financial data related to market-based transactions and sales.
• Financial Reporting and Analysis:

• Prepare and review financial statements, reports, and reconciliations for monthly and quarterly close processes, ensuring timely and accurate reporting.
• Conduct in-depth margin analysis to support financial planning, identifying key drivers in product profitability and cost impacts.
• Assist in preparing management reports on financial performance, trends, and forecasts, providing actionable insights.
• Inventory and Cost Accounting:

• Oversee inventory-related accounting, including tracking inventory movements, reconciling physical counts with financial records, and analyzing cost variances.

• Support the costing and valuation of inventory to ensure accurate recording of refining activities, including yield analysis and product flow.
• Conduct periodic audits of inventory accounts and assess related controls.
• Compliance and Controls:

• Ensure adherence to GAAP, SOX, and other regulatory requirements for commercial accounting.
• Prepare and maintain documentation for internal and external audits, working closely with auditors to provide necessary information.
• Contribute to refining and implementing internal controls for commercial transactions and inventory accounting.
• Support for Strategic Initiatives:

• Collaborate with cross-functional teams on initiatives related to commodity pricing, risk management, and cost optimization.
• Assist in budgeting and forecasting processes, contributing to financial modeling and decision support for commercial operations.
• Provide financial expertise for special projects, such as new product lines or market expansions.
• Process Improvement:

• Identify and implement improvements in commercial accounting processes, including automation opportunities and efficiency enhancements.
• Support efforts to streamline reporting workflows, reduce reconciliation time, and improve data accuracy.

Qualifications:

• Education:

• Bachelorxe2x80x99s degree in Accounting, Finance, or a related field (required).
• CPA or CPA candidate highly preferred.
• Experience:

• 5+ years of accounting experience, with a focus on commercial, inventory, or cost accounting.

• Prior experience in the energy, oil and gas, or manufacturing sectors is strongly preferred.
• Skills:

• Advanced knowledge of GAAP and commercial accounting practices specific to the oil refining industry.
• Proficiency in ERP systems (e.g., SAP, Oracle) and advanced skills in Excel and financial modeling.
• Strong analytical skills, with the ability to translate complex data into actionable insights.
• Excellent organizational, time-management, and problem-solving skills.
• Effective communication skills, with the ability to collaborate across diverse teams and present financial data clearly.

Job Requirements:

• Accounting Expertise in general ledger maintenance, transaction processing, and financial reporting for commercial activities.
• Regulatory Compliance knowledge, including SOX and SEC regulations.

Financial Analysis and Forecasting experience, with a focus on margin analysis and cost accounting.

• Team Collaboration skills for working closely with cross-functional partners and stakeholders.
• Continuous Improvement mindset to identify and execute enhancements to standard accounting practices.

About CIEL HR (Payroll Company)Ciel HR marks the return of HR visionaries to the HR Services industry, powered by technology and analytics. The Founders of Ma Foi, the pioneer of the HR services sector in India, along with some of the finest brains in the HR Services Industry have envisioned and built the firm, CielHR, to deliver the full range of Recruiting services from Executive Search, Recruitment Process Outsourcing and Staffing Permanent as well as Temporary roles through its offices in India and the Middle EastRole really excites you, kindly share your resume to aswathi.sugumaran@cielhr.com.RegardsAswathi

Ciel HR