Click to access Economy_at_a_Glance.pdf

ONE FOR THE HISTORY BOOKS
The downturn in the oil industry is finally over. More
companies are reporting profits than losses. Fewer firms
are filing for bankruptcy. Oil now trades above break-even
cost for most producers. Exploration budgets continue to
grow. The North American rig count has rebounded.
Permits to drill have risen dramatically. Layoffs have
slowed to a trickle. Crude inventories have fallen. U.S.
production is at an all-time high. And global demand
continues to grow.

Profits
In Q2/16, only five of the 25 largest energy firms in Houston
earned a profit.1 That’s not surprising, given that oil sank to
$26 per barrel the prior quarter. Share prices took a
beating as well. By mid-’16, they’d fallen 30 to 90 percent
from their peaks, with a 66 percent drop being the average.
The expression that oil prices would be “lower for longer”
was heard so often it became trite. But companies heeded
the warning, reducing headcounts, slashing budgets and
focusing on only the best prospects in their portfolios.
These steps helped the industry to regain its health. In
Q2/17, 16 of the 25 largest reported profits. In QQ2/18, 20
of the 25 largest were in the black.

The return to profitability has prompted firms to pay down
debt, increase dividends, launch share buyback programs,
and boost exploration budgets. Profitability has also lifted
stock prices, but not to pre-recession levels. In early
August, the shares of a third of the top 25 traded at 80 to
95 percent of their previous peak, a third at 50 to 80
percent, and a third at less than half their peak.
Share prices haven’t fully recovered for several reasons.
Investors worry about the impact that climate change
regulations will have on the industry. Some fear that oil
demand will peak in the not too distant future. Others are
disappointed in the meager returns received on their
energy investments, especially when compared to tech
stocks. They also worry that as oil prices rise, exploration
firms will focus on growing production, not profits.

Tax Manager

Our client, a new publicly traded company, is looking for a hands-on Senior Tax Manager to join their team. The Manager is responsible for the company’s US income tax reporting and compliance. The primary responsibilities will include tax provision (40%), tax compliance (30%) and planning & research (30%). This is a great opportunity to join a brand new Tax team!

We are looking for someone who is self-motivated and has a positive, “whatever it takes” attitude.

Responsibilities:

Tax Provision

• Direct preparation, management, review, and consolidation of ASC 740/FIN 18 income tax provisions, including SEC reporting and coordination with all business reporting teams.
• Establish and maintain processes designed to identify, assess, and calculate uncertain tax position (FIN 48) calculations.
• Direct calculation of the consolidated effective tax rate, draft SEC reporting disclosures and perform or supervise detailed review of supporting calculations and work papers.
• Manage relationship with financial statement auditor.
• Monitor and implement regulatory changes to GAAP income tax reporting.
• Organize and perform training sessions to ensure tax compliance.
• Oversee tax financial reporting controls, ensuring performance and documentation of internal controls.
• Generate and lead the implementation of ideas for process improvements and efficiencies.

Tax Compliance

• Ensure development and execution of annual tax compliance project plan.
• Direct preparation of the consolidated federal, state and foreign income tax returns.
• Direct resolution of federal tax notices; manage information responses to federal tax audits, including drafting and initial review of all document requests.
• Generate and lead process improvements and efficiencies.
• Provide support to business lines for indirect taxation.

Planning and Research

• Direct the review and research of the income tax treatment of Company transactions.
• Manage tax due diligence processes.
• Generate and implement ideas to generate cash tax savings and effective income tax rate benefits.

Requirements:

• Bachelor’s Degree in Accounting or related field required;
• CPA preferred

Minimum of 5 years in tax experience in a corporate or public accounting.

• Demonstrates a passion for learning and a willingness to build new skills.
• Excellent verbal/written communication skills.
• Ability to recognize and implement opportunities to simplify processes and create efficiencies.

Diane Delgado LeMaire | Senior Managing Director, Executive Search & Branch Manager | 

Creative Financial Staffing (CFS) 5718 Westheimer Suite 800, Houston, Texas 77057

T: 713.490.6003 | M: 713-594-4486

dlemaire@cfstaffing.com | www.cfstaffing.com | LinkedIn

Our client is growing and adding a Financial Analyst to their team. They are publicly traded, located in The Woodlands and provide services and products to the Oil & Gas industry. This role will report to the Director of FP&A and assist in creating models, dashboard reports, and presentations to the BOD.

Responsibilities:

• Analyze current and past trends in key performance indicators including all areas of revenue, cost of sales, expenses and capital expenditures
• Monitor performance indicators, highlighting trends and analyzing causes of unexpected variance
• Support Budgeting, Financial Forecasting, and Operating Plan process
• Ad-Hoc Reporting and Analysis
• Quarterly and Monthly Financial reports
• Implement and work with a Business Intelligence Tool and Dashboard reports
• Develop financial models and analyses to support strategic initiatives
• Analyze complex financial information and reports to provide accurate and timely financial recommendations to management for decision-making purposes
• Supporting Senior Management Team and Departments heads with in-depth analysis.
• Prepare presentations to Board of Directors and Senior Management Team

Requirements:

• Four-year college or university degree in Finance, Accounting, or related field.
• or equivalent education and/or experience.
• One or two years of FP&A experience.

#finance #hiring #Woodlands #financialplanning #analyst

Salary: $55,000.00 to $70,000.00 /year