The job failed. Unable to determine if the owner (domain\user) of job NAME has server access (reason: Could not obtain information about Windows NT group/user error code 0x54b. [SQLSTATE 42000] (Error 15404)).,00:00:39,0,0,,,,0
The owner of the job and the step "Run as" accounts were different. Both were admins on the server and had DBO rights to the database. The job consisted of three steps - an OS step, and two SQL queries. It failed to run when the two accounts differed; when they were both the same it worked.
System is SQL Server 2005 SP3 standard running on Windows Server 2003, with all the latest patches.