Top 10 myths about job interviews.

DUTIES: AUTHORITY

Capital Structure and Financings
1. Ensures accurate and efficient management of the Company’s existing debt portfolio, including analysis, recommendations, covenant compliance and reporting of bank borrowings, convertible notes and public bonds. I
2. Evaluates corporate finance and capital structure issues, including the drafting of white papers and presentations for senior management and Board of Directors. I
3. Creates complex financial models (e.g., IRR, discounted cash flow, etc.) for analysis and evaluation of financing proposals. I
4. Recommends and executes capital structure strategies (e.g., debt issuance and repurchase, return of excess cash to shareholders, etc.) which result in multi-million dollar savings. III
5. Negotiates and executes financing agreements, capital and operating lease transactions, money market loan borrowings, and 10b5-1 debt retirement and shareholder return programs as may be approved by senior management and the Board of Directors. III
6. Proactively monitors credit markets, and alerts management to potential issues impacting our debt ratings and ability to meet financial covenants. I
7. Collaborates with Accounting, Tax and Legal to ensure the proper execution, documentation and accounting of all financings and derivatives activity. I
8. Researches and responds to questions and information requests from internal and external constituents (e.g., bankers, investors, holders of stock warrants, et. al.), providing required analysis and commentary. I

Financial Risk Management
9. Evaluates counterparty credit risk, including review of drilling contracts for relevant credit terms, assessment of clients and financial institutions, and approval of any necessary credit or collateral requirements (e.g., escrow agreements, letters of credit, cash deposits, etc.). I
10. Analyzes the Company’s overall interest rate risk and foreign exchange exposure. I
11. Reviews and monitors relevant market conditions and recommends risk mitigation strategies. I
12. Executes and manages hedging strategies, including documentation for FAS 133 hedge accounting treatment, relationships with outside providers for effectiveness testing, valuation, etc. III

Bank and Rating Agency Relations
13. Fosters excellent relationships with commercial and investment banks and lenders, in furtherance of the Company’s overall goals to provide for liquidity and flexibility for strategic opportunities (e.g., M&A, asset acquisitions, etc.). I
14. Obtains information on bank and capital market conditions, and products and services that may be beneficial to the Company. I
15. Interfaces with rating agency analysts, providing updates on the Company and maintaining periodic dialogue as appropriate, with the goal of enhancing the Company’s ratings. III

Investor Relations
16. Responds directly to investors’ questions relating to debt instruments and corporate finance transactions of the Company, being careful not to disclose non-public information. II
17. Handles communications with investors with great sensitivity and urgency, referring matters to senior management as necessary and appropriate. I

Debt Accounting and Reporting
18. Interfaces with Financial Reporting and Corporate Accounting departments with regard to SEC filings (e.g., drafting and commenting on disclosures, etc.) and internal reporting efforts. I

Diane Delgado LeMaire | Senior Managing Director, Accounting & Finance Recruiting | Creative Financial Staffing, a division of Fitts, Roberts CPA Firm | 5718 Westheimer Suite 800 | Houston, TX 77057 | 713-260-5238 | dcd@fittsroberts.com  | http://cfstaffing.blogspot.com/| www.dianedelgadolemaire.wordpress.com| www.twitter.com/CPARecruiterHOU| www.linkedin.com/in/dianedelgadolemaire

Crude price’s revival bringing pain to pump

$100 a barrel could be within reach as industry bounces back

By BRETT CLANTON
HOUSTON CHRONICLE

Nov. 12, 2010, 5:25AM

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Crude oil prices are creeping higher again, with some experts predicting a return to $100 a barrel soon, in a trend that could be a boon to Houston’s vast energy economy but a pain for consumers stuck with the bills. Prices continued their ascent Thursday, briefly hitting their highest point in two years — and almost touching $90 a barrel — before closing unchanged from Wednesday. The recent run-up comes as a Federal Reserve stimulus program weakens the value of the dollar, spurring investors to shift money to commodities, and global energy demand resumes growth. The spike, which arrives after many months of relative calm in crude markets, already is pushing pump prices higher for Americans.Analysts differ on whether crude prices have peaked for now or will continue to rise. “I think we could see a break of $90 and a possible test of $100 over the next month or two,” said Matt Smith, analyst with Summit Energy in Louisville, Ky., who sees further momentum from the weak dollar and strengthening economy. But Alfred Luaces, vice president of Purvin & Gertz in Houston, believes the dollar’s value has likely bottomed-out and that crude prices will soften from current levels.”We think for the moment, it’s probably gone high enough, and there’s going to be some sell-off,” he said. On Thursday, crude oil for December delivery settled unchanged at $87.81 a barrel on the New York Mercantile Exchange. Futures at one point reached $88.63, the highest midday price since Oct. 9, 2008.Because two-thirds of the cost for a gallon of gasoline comes from crude oil, pump prices have also been rising along with oil.

Price at the pump up

The national average for regular gasoline jumped in a week from $2.81 to $2.86 a gallon, AAA said Thursday. In Houston, the average price rose to $2.66, up from $2.61 last week, the motor club said.Until recently, crude prices had been steady for more than a year, hovering between $70 and $80 a barrel. Prices remained stable and high by historical standards even as the economy limped and natural gas prices stalled at low levels. On Thursday natural gas closed down 11.9 cents at $3.93 per million British thermal units.Crude’s pattern, however, followed a period of wild swings, in which oil shot to a record close of $145.29 a barrel in July 2008 then plummeted several months later to roughly $30 amid the global financial crisis. The recent uptick in prices has revived concerns about triple-digit oil and the negative ripple effects it could have on the still-nascent economic recovery. But Smith doubts a replay of the last big run-up: “We’ve sort of learned our lesson from a couple of years ago.” The Federal Reserve said this month it will try to stimulate the economy by purchasing $600 billion in bonds under a program called quantitative easing. The surge of money is designed to reduce interest rates and jump-start the economy by spurring lending, but it has weakened the value of the dollar against other currencies. This makes crude, priced in dollars, a more attractive investment for holders of foreign currencies.

$3.25 a gallon in spring?

Analysts said the program has been a bigger driver of recent oil price gains than stronger-than-expected growth in energy demand this year around the globe, particularly in China and other parts of the developing world. Generally, every $1 increase in the price of oil adds about 2.5 cents per gallon to the retail cost of gasoline, Luaces said. Pump prices could match or top this year’s peak of $2.92 a gallon, set Memorial Day weekend, before the end of the year, said Tom Kloza, senior oil analyst with the Oil Price Information Service in Wall, N.J. In the spring, when fuel demand is higher, prices could hit $3.25 nationwide.Forecasters with the U.S. Energy Information Administration expect retail gasoline to average $2.84 a gallon this winter, 19 cents higher than a year ago. “Longer term, I don’t believe there is any question that sometime this decade — and I believe it will be later, rather than sooner — we will be paying $4 to $5 a gallon for U.S. gasoline and diesel,” Kloza said.

brett.clanton@chron.com

Diane Delgado LeMaire | Senior Managing Director, Accounting & Finance Recruiting | Creative Financial Staffing, a division of Fitts, Roberts CPA Firm | 5718 Westheimer Suite 800 | Houston, TX 77057 | 713-260-5238 | dcd@fittsroberts.com  | http://cfstaffing.blogspot.com/| www.dianedelgadolemaire.wordpress.com| www.twitter.com/CPARecruiterHOU| www.linkedin.com/in/dianedelgadolemaire

Position Summary:

The Company  provides high-caliber, experienced accounting and finance professionals to assist

clients with critical financial work. Typical types of services include Corporate Accounting and Finance Support, Transaction

Support, Tax, Internal Controls and Special Projects as directed by our clients.

Company hires Accounting and Finance professionals at various levels based on number of years of experience and

types of skills and qualifications.

Specific Technical Responsibilities:

• Prepare and review internal and external financial statements, including footnotes and other disclosures for compliance with

U.S. GAAP requirements

• Develop and implement process improvement initiatives relating to corporate accounting and financial reporting work streams

• Assist with the compilation and review of quarterly and annual SEC filings

• Perform financial analysis, including fluctuation, trend, and variance analysis and management commentary

• Research current GAAP, FASB and IASB pronouncements

• Evaluate the design and operating effectiveness of internal controls for Sarbanes-Oxley Section 404 compliance through

documentation and testing procedures

• Coordinate special projects of strategic and tactical significance

Requirements:

Skills, Knowledge and Qualifications

• Undergraduate degree in Accounting or Undergraduate degree in Finance with a concentration in Accounting (CPA and/or

MBA, combined with solid accounting experience will be considered in lieu of Undergraduate degree in Accounting)

• CPA, or progress toward certification, preferred

• 3-12 years of diverse accounting experience; at least 2 busy seasons in external audit with a Big 4 or national CPA firm plus

corporate accounting and/or finance experience at a large ($1B+ revenues) public corporation.

• Strong general accounting knowledge – General Ledger, Financial/SEC Reporting, Consolidations, Financial Analysis,

Controllership, etc.

• Excellent analytical, technical, and auditing skills including proficiency in U.S. GAAP and FASB rules and standards

• Training and/or experience with IFRS a plus

• ERP/Financial Performance Management Software user experience preferred. Desirable systems include: SAP (including

Business Warehouse), Oracle, Hyperion, Essbase, Peoplesoft, or JD Edwards

• Strong computer desktop skills required. Advanced Microsoft Excel skills (i.e., macros, pivot tables, etc.) desirable

Professional Attributes

• High energy and enthusiasm, with a strong commitment to exceeding client expectations

• Flexibility and openness to work on a variety of assignments, industries, and roles.

• Ability to learn quickly, make an immediate impact, and provide value-added service to our clients

• Strong communication and interpersonal skills, displaying the ability to connect and build relationships with clients, firm

leadership, and peers

• Confidence in professional aptitude and ability to effectively convey skills, knowledge, and qualifications to clients

• Team player with a strong desire to be an active, long-term participant in the growth of the local office and Firm overall

• Flexibility to consider travel assignments on occasion

• Entrepreneurial spirit and belief in the opportunities that Siegfried offers

• Interest and passion to get involved in other professional experiences such as Business Development and Recruiting

By Peter Weddle, Professional HR Consulting Expert

It’s hard enough to look for a job in today’s tight economy. Doing it with a fictionalized view of the job market can dramatically degrade your chances of success.

What are such fictions? They are pipe dreams and urban legends, to be sure, but increasingly, they are also misinterpretations of conventional wisdom. They begin with the right idea, but come to the wrong conclusion. Here are three of the most harmful.

Fiction #1: A job search is an interruption in your career.

The conventional wisdom is that a job search creates a gap in your record. And, gaps drain your perceived value as a new hire. Gaps come in all sizes, of course, but the larger the gap, the more explaining you have to do with employers. Gaps exist only if we permit them to. A break in your growth as a high value performer occurs only with your permission. How can you avoid a gap?

Enroll in a training program or academic course that will sharpen your skills and add to your perceived value as a candidate. Then, feature that development on your resume. Show employers that you’re determined to remain a high value contributor even while you look for a new employment opportunity.

Fiction #2: The best place to find a job is on a social networking site.

The conventional wisdom is that social networking sites are now the single best way to find a new or better job. According to pundits, LinkedIn, Facebook and Twitter have eclipsed if not replaced job boards, traditional face-to-face networking, print publications and career fairs as viable job search resources.

While such hyperbole gets media attention, it is a misinterpretation to think that these sites are all you need to find a job. Social networking is indeed a valuable job search tactic, but it is not the sole technique for conducting a job search or even the most effective. Indeed, for every person who has successfully found a job on a social media site, there are literally hundreds of others who have found employment using other tools.

Does that mean you should ignore social media sites? Absolutely not. But, take the chatter about the power of these sites with a grain of salt and use all of the tools at your disposal. Today’s job market is the toughest in years, and you simply don’t know which resource will end up working best for you. The key to success, therefore, is to play the odds and use every single one of them.

Fiction #3: There are no jobs to be found in the job market.

The conventional wisdom is that the stuttering U.S. economy is simply not creating new jobs. While a lot of job seekers have been disillusioned by this situation, it is a misinterpretation to think that the job market is bereft of opportunity. In fact, the private sector actually created 64,000 jobs in September. And, there are other openings being created by people who are quitting to look for something better.

Does that mean it’s now easy to find employment? I’m afraid not. But, it would be a tragic mistake to give up because you don’t think there are any openings available. The jobs are out there. Use multiple job search tools and network both online and off. Make it your job to convince employers they can’t succeed without you.

The conventional wisdom can clearly be helpful when you’re looking for a new or better job, but make sure that you draw the right conclusions. Misinterpretations of even the best insights or most accurate data create fictions that can undermine and even derail your ultimate success.

Thanks for reading,
Peter

Peter Weddle, an HR consulting expert and regular columnist for CNN and the Wall Street Journal, has authored over two dozen books, including Work Strong: Your Personal Career Fitness System — a powerful new approach to achieving career success. Visit Peter at CareerFitness.com.

Diane Delgado LeMaire | Managing Director, Accounting & Finance Recruiting | Creative Financial Staffing, a division of Fitts, Roberts CPA Firm | 5718 Westheimer Suite 800 | Houston, TX 77057 | 713-260-5238 | dcd@fittsroberts.com  | http://cfstaffing.blogspot.com/| www.dianedelgadolemaire.wordpress.com| www.twitter.com/CPARecruiterHOU| www.linkedin.com/in/dianedelgadolemaire

BASIC FUNCTION: Responsible for the management and administration of the global Hull and Machinery and Excess Liability insurance program and the related local insurance programs. Review insurance, liability and indemnity provisions of proposed drilling contracts, shipyard agreements, and master service agreements. Review insurance policy terms and conditions to ensure the Company maintains desired level of insurance coverage. Serve as initial contact for questions concerning general risk management. Interact with insurance brokers and underwriters for insurance renewals. Handle various special projects as requested.

DUTIES: AUTHORITY
1. Manage the global hull and machinery and excess liability insurance program renewal to optimize coverage value based on the company’s risk objectives. Prepare analysis to determine optimal deductible and self retention levels. Prepare documentation to request subsidiary entity approval of insurance program and oversee the settlement of insurance invoices.
I
2. Evaluate contractual agreements Company-wide to determine if the agreements effectively transfer, mitigate or avoid financial obligations not expected by the Company and ensure agreements are in compliance with insurance requirements or restrictions. Involved in the contract negotiation process with internal marketing department, outside vendors and customers. Contracts include but are not limited to agreements for towing, joint venture, specialized services, consulting, vendor MSAs and drilling tenders.
I
3. Oversee the subcontractor insurance approval process to ensure that risk and insurance transfer mechanisms are effective. Determine that the proper insurance requirements are met and evidenced by receipt of satisfactory insurance certificates. Manage the vendor MSA database to collect and sort the necessary data. I

4. Develop and complete analysis and presentations for reporting purposes for the board of directors, senior management and insurance underwriters.
II
5. Interact with brokers, underwriters, the Company’s field offices and senior management in the procurement and administration of various insurance programs including hull & machinery, excess liabilities, captive insurance, and automobile liability coverages.
II
6. Analyze and obtain, if needed, local insurance coverages required by local legal and contractual obligations. Develop cost effective options for compliance. Confer with the Tax Department, regional offices and brokers for determination.
II
7. Manage the development of the insurance premium allocation for the rig fleet and onshore support facilities.
III
8. Provide expert guidance to the captive insurance company’s board of directors and administrators.
III

9. Provide certification of insurances for clients, financial institutions and governmental authorities.
I
10. Monitor and report to underwriters any asset or corporate changes that could impact the insurance program such as the sales of rigs, additional equipment purchases, rig moves and rig shipyards.

How to Get a Counteroffer

• Rating: No Rating

• Posted by Jerry Albright on October 14, 2010 at 10:00am
• View Jerry Albright’s blog

OK. So you’ve decided you’re underpaid. A few of your team mates are making considerably more than you.
You know you’re as good (if not better) than them, so what gives? You really do like your job. The company Christmas party is off the hook! The drive is less than 5 minutes and your best buddies work there too…….but you keep seeing jobs all over the internet paying more than what you’re making and it’s starting to weigh on your mind……

So what can you do about it? Call a recruiter? Well, maybe…..

But you know what happens next, right? If you’re so good- you’ll be going on an interview next week. Then another. Pretty soon you’ve got yourself an offer. More money!!! Woo hoo!!

But wait. Now you’ve got to resign. And you don’t really want to do that, do you? You’ve got to go through with this, though…….right? The recruiter is calling you night and day making sure you’re “on the same page” and you’ve already reluctantly agree that he can accept an offer on your behalf. Who knows – maybe he already
did…?

This isn’t what you really wanted, is it? To leave all your friends? To bail out on the awesome project you’ve been working on the past 2 years? It’s just about ready to go into production. All your hard work – and you’ll never see how happy your customers are……bummer……

I’ve got a solution for you. All you really want is more money. Heck – we all want that. So let me help you do just that without dragging a few other companies and that nice recruiter through the mud.

Wear your best suit into work tomorrow. Look better than you have since you interviewed there to begin with. Let your boss know you need the afternoon off. She’ll ask you why. Just let her know “It’s personal” and try to seem a bit apprehensive about it.

Next week you’ll need to take a whole day off. Again – let your boss know it’s personal. You might jokingly say “I’m not going on any interviews or anything” and then throw in something about your grandma not doing so well and she lives quite a distance away. Again – keep it somewhat vague.

Hang in there. You’re almost done Just one more step. This is the important one. You now need to tell your boss you need a few minutes. She’s already thinking something is up and this will confirm it. Her suspicion will be that you’re leaving – and she can’t have that happen now. Not at this critical time!

When you’re in her office let her know you just want to get a better idea of where you’ll be in the next few years. Ask about your chance of promotion. Let her know you feel like you need some more responsibility – but NEVER let on that you’ve been “interviewing” – just make it appear as though you’re at a crossroads and “might” be looking elsewhere. She’ll suspect this. She’s been here before. Trust me.

She’ll be on the phone with HR in a matter of minutes. Within a day or two you’ll find yourself in a meeting again. This time she’ll be happy to let you know that she’s been thinking of your career plan there – and while
that all shapes up – there is also a salary increase she’s requested for you. There you have it. You’re in!

Simple. No hassle. No bitter recruiter. No other company involved. Just you, your company and your new, phatter paycheck.

Good luck!

Jobless claims edge lower.

Houston loses more construction jobs, study says – Houston Business Journal.