The American Petroleum Institute (API) is the only national trade association representing all facets of the oil and natural gas industry, which supports 10.3 million U.S. jobs and nearly 8 percent of the U.S. economy. The API’s more than 600 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms.
The mission of the API is to promote safety across the industry globally and to influence public policy in support of a strong, viable U.S. oil and natural gas industry. The API employs a 335-person staff, operates a budget of more than $225 million, and is based in Washington, D.C.
As the U.S. oil and natural gas industry’s primary trade association, the API is dedicated to:
Promoting policies that are grounded in facts, free markets and free trade and that advance the industry’s license to operate
Advancing energy development and sustainability through advocacy and world-class standards, assessments, certifications and training
Working with government and other stakeholders at all levels to create responsible laws, regulations, standards and practices to safeguard the community, workplace and environment
Ensuring transparency and accountability to its members and employees regarding how decisions are made, resources are allocated, and performance is assessed
Operating with the highest ethical standards, honesty and integrity
For more than 100 years, API has also led the development of petroleum, natural gas and petrochemical equipment and operating standards. These represent the industry’s collective wisdom on everything from drill bits to environmental protection and embrace proven, sound engineering and operating practices and safe, interchangeable equipment and materials. API maintains nearly 700 standards and recommended practices. Many have been incorporated into state and federal regulations and they are also the most widely cited standards by the international regulatory community.
The Vice President, Finance will have oversight for all financial operations of the Association to include accounting, budgeting, business plan strategy and analysis, cash management, tax compliance, financial reporting, insurance risk management. This role reports directly to the Chief Operating Officer and will be the staff liaison to the Finance Committee. S/he will be responsible for directing a highly professional team to accomplish the association’s goals, create and develop financial infrastructure, and encourage a culture based on professional values and standards.
The VP, Finance will serve as a business partner to API senior leadership and assist the Chief Operating Officer in the overall financial management of the organization.
Specifically, the Vice President, Finance is responsible for the following:
Financial Reporting System. Oversees issuance of accurate monthly statements, forecasts year-end financial position on a quarterly basis, oversees year-end audit process with external accounting firm, as well as periodic audit process with member companies. The Vice President, Finance is responsible for ensuring compliance with regulatory agencies such as the IRS, state tax, etc.
Budget Preparation. Provides strategic leadership to organization’s budget development and implementation with a focus on aligning organization resources with API’s priorities and initiatives. Develops budget-planning data, works with all departments to gather information, and presents budget package to the Finance Committee, Executive Committee and Board for approval.
Cash Management. Responsible for all dues calculations, collection, and supports member recruitment and retention efforts to help grow the organization. Responsible for cash management and oversight of investments to ensure they are aligned with safe and liquid assets.
Board Relations. Builds and maintains strong collaborative relationships with the Board of Directors. Serves as the chief liaison generating data and reports for the Chair of the Finance Committee and implementing directives internally within the organization.
Staff Management. Supervises full time staff of 17 and manages external facilities provider resources. Ensures that all aspects of the Finance Department’s personnel function are implemented according to API’s policies and provides visionary leadership and guidance to staff on execution of strategic objectives ensuring the integrity of financial information and continued operational effectiveness.
The Vice President, Finance will be a strategic and innovative leader who will build on the organization’s strong legacy, while advancing priority objectives for continued growth. The ideal candidate will have a broad understanding of business operations as well as demonstrated strength in leadership, communications, business analysis and judgment.
Specific experience and qualifications will include:
15+ years of professional experience, including a track record of progressive leadership responsibilities. CPA preferred.
Demonstrated strategic financial and analytical skills coupled with strong business acumen.
Experience with external financial reporting, the audit process and the relevant financial statements, footnotes and disclosures.
Superior interpersonal skills with ability to build and lead strong teams, generate consensus, and implement collaborative cross-departmental communication.
Intelligent, energetic, motivated, and operationally-oriented executive focused on achieving results on an accurate and timely basis.
Demonstrated leadership and management experience including significant responsibilities with broad scope and complexity.
Ability to build and maintain effective working relationships with diverse constituencies, both internally and externally.
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