The posting
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Job Description
Job Summary
The Chief Accounting Officer (CAO) is the senior accounting executive responsible for the integrity, accuracy, and timeliness of the Company's financial reporting, accounting operations, and control environment. Reporting directly to the CFO, the CAO provides leadership for SEC reporting, technical accounting, financial close, accounting operations, and compliance activities. The CAO partners with executive leadership, the Audit Committee, and external auditors to ensure compliance with U.S. GAAP, SEC regulations, and Sarbanes-Oxley requirements while supporting the Company's strategic growth objectives. The CAO serves as the Company’s designated principal accounting officer for SEC reporting purposes and as its senior-most technical accounting authority, providing objective accounting judgment to the CFO, the Audit Committee, and the Board.
Responsibilities
- Lead all accounting, financial reporting, and controllership functions.
- Oversee the preparation and filing of Forms 10-K, 10-Q, and other relevant required SEC filings.
- Oversee the presentation of non-GAAP financial measures and key performance indicators in earnings releases and investor materials in compliance with Regulation G and Item 10(e) of Regulation S-K.
- Ensure accurate and timely financial statements and disclosures in compliance with U.S. GAAP and SEC requirements.
- Direct the monthly, quarterly, and annual close and consolidation processes.
- Lead technical accounting evaluations and establish accounting policies for significant transactions and emerging accounting standards. Key areas include revenue recognition (ASC 606), lease and lessor accounting for power-as-a-service arrangements (ASC 842), long-lived asset impairment, business combinations (ASC 805), stock-based compensation (ASC 718), segment reporting (ASC 280), and accounting for various debt, equity, and hybrid financial instruments.
- Oversee income tax accounting and reporting (ASC 740) in coordination with the Company’s outside advisors.
- Maintain an effective internal control environment and oversee SOX compliance.
- Help oversee disclosure controls and procedures, including the quarterly sub-certification process supporting CEO and CFO certifications under Sections 302 and 906 of Sarbanes-Oxley, and serve as a standing member of the Company’s Disclosure Committee.
- Serve as the primary management liaison with external auditors and with the SEC staff on comment letters and other accounting-related regulatory matters.
- Partner with the CFO, executive leadership team, and Audit Committee on financial reporting, governance, risk management, and strategic initiatives.
- Support mergers, acquisitions, capital markets activities, and other strategic transactions.
- Drive process improvement, automation, and technology-enabled transformation across the accounting function, with particular focus on how AI can improve processes and drive efficiency.
- Build and develop a high-performing accounting organization.
- Strategically and proactively “see around corners” to identify potential issues and work to address them before they surface.
Job Qualifications
Required
- Bachelor’s degree in accounting or a related field.
- CPA license.
- 15+ years of progressive accounting and financial reporting experience, including significant leadership responsibility.
- Deep knowledge of U.S. GAAP, SEC regulations, SOX compliance, and internal controls.
- Demonstrated experience in a leadership role involving financial reporting, technical accounting, operational accounting, and external audit activities.
- Proven ability to work effectively with Audit Committees, Boards of Directors, executive leadership teams, and external auditors.
- Position will be onsite either in Midland, TX (HQ) or North Houston, TX (satellite office with travel to HQ)
Preferred
- Master’s degree in accounting or a related field.
- Big Four or other national firm public accounting experience.
- Power generation, energy, oilfield services, power or energy infrastructure industry experience.
- Experience supporting mergers and acquisitions and complex business transactions.
- Experience leading accounting transformation, ERP implementations, and process automation initiatives.
Physical Demands
The physical demands described here represent those required for an employee to successfully perform the role’s essential functions. Reasonable accommodation may be made for individuals with disabilities to perform their major responsibilities.
While performing the duties of this job, the employee is regularly required to sit, stand, or walk; use hands to manipulate, handle, or feel; reach with hands and arms; stoop or bend; and talk or hear. The employee must occasionally lift and/or move up to 10 lbs.
Work Environment
The work environment characteristics described here represent environmental conditions an employee will encounter while performing the role’s essential functions. The noise level in some work environments can be moderate and an employee may encounter extreme weather conditions while performing major duties. Reasonable accommodation may be provided for individuals with disabilities to perform their major responsibilities.
Disclaimer
The information provided in this job description indicates the general nature and level of work performed by employees within the role’s classification. This job description is not to be interpreted as a comprehensive inventory of all duties, responsibilities, qualifications required of employees assigned to this role.
PROPWR is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.
