What are the responsibilities and job description for the Contract Accounting Analyst position at Targa Resources?
POSITION SUMMARY:
Targa Resources is seeking a highly motivated and detail-oriented Contract Accounting Analyst to support contract governance and operational accounting activities related to the Company's gas gathering, processing, and purchase agreements and well as liquids settlements. This role serves as a key control point to help ensure the accuracy of contractual settlements, revenue recognition, and financial reporting through the review, analysis, and validation of contract setups within Targa's accounting and settlement systems.
The successful candidate will work closely with Commercial, Accounting, and other internal stakeholders to interpret complex contractual provisions, support compliance with ASC 606 revenue recognition requirements, and facilitate the accurate implementation of contracts and amendments. This position requires strong analytical and problem-solving skills, exceptional attention to detail, the ability to manage multiple competing priorities, and a demonstrated ability to work independently while consistently meeting deadlines.
JOB DUTIES & KEY RESPONSIBILITIES:
Review and assess monthly contract activity across gas processing plants to identify new and amended contracts requiring settlement setup review.
Analyze gas gathering, processing, and purchase agreements to ensure contractual provisions are accurately interpreted and reflected within settlement systems.
Verify contract setup and maintenance within accounting and settlement systems to ensure proper calculation of producer statements, financial settlements, and revenue recognition in accordance with contractual requirements and ASC 606 guidance.
Collaborate with Commercial, Operational Accounting, Technical Accounting and others to resolve contract interpretation issues and ensure consistent application of contractual terms.
Identify contract setup discrepancies, process improvements, and potential control gaps and communicate recommendations to the appropriate stakeholders.
Complete monthly control activities and related documentation in compliance with established SOX requirements and deadlines.
Utilize W Energy and related systems to review contract setup, navigate transaction data, and support accounting analyses.
Utilize RightAngle to extract data for settlement verification on new deals.
Maintain and support quarterly fixed consideration analyses used for revenue recognition and financial reporting purposes.
Assist in the development, maintenance, and delivery of contract setup procedures, training materials, and guidance documentation for accounting personnel.
Support internal and external audit requests by providing documentation, analyses, and explanations related to contract governance and accounting processes.
Participate in special projects, system implementations, process improvement initiatives, and other ad hoc assignments as requested.
MINIMUM ESSENTIAL QUALIFICATIONS:
Bachelor's degree in Accounting, Finance, or a related field.
Minimum of 3-5 years of experience in revenue accounting, operational accounting, audit, or a related accounting function.
Experience working with W Energy, RightAngle or similar energy settlement and accounting systems.
Strong understanding of accounting principles and revenue recognition concepts.
Excellent analytical, organizational, and problem-solving skills.
Exceptional attention to detail and commitment to accuracy.
Ability to manage multiple assignments simultaneously and adapt to changing priorities and deadlines.
Strong verbal and written communication skills with the ability to effectively collaborate across functional teams.
Proficient in Microsoft Excel and other Microsoft Office applications.
Demonstrated ability to work independently, exercise sound judgment, and take ownership of assigned responsibilities.
Regular and reliable attendance.
PREFERRED QUALIFICATIONS:
Experience in the midstream energy industry.
Knowledge of gas gathering, processing, purchase, and other midstream commercial agreements.
Familiarity with ASC 606 revenue recognition guidance.
Experience reviewing or supporting settlement system contract setup and maintenance.
Understanding of SOX compliance and internal control processes.
Demonstrated ability to thrive in a dynamic, team-oriented environment while successfully managing individual responsibilities and competing deadlines.
Key Competencies:
Attention to Detail
Contract Interpretation and Analysis
Critical Thinking and Problem Solving
Time Management and Prioritization
Accountability and Reliability
Initiative and Independent Decision-Making
Cross-Functional Collaboration
Adaptability and Flexibility
Effective Communication
Team oriented
EQUAL EMPLOYMENT OPPORTUNITY:
Targa Resources provides equal employment opportunities based on merit, experience, and other work-related criteria and without regard to race, color, ethnicity, religion, national origin, sex, age, pregnancy, disability, veteran status, or any other status protected by applicable law. We also strive to provide reasonable accommodation to employees’ beliefs and practices that do not conflict with Targa’s policies and applicable law. We value the unique contributions that every employee brings to their role with Targa.