CITGO Petroleum Corporation

Associate / Financial Analyst

Requisition #
2017-4527
Houston
Texas
# of Openings
2

Relocation

Relocation Benefits Not Available for this Position

Note

Employer will not sponsor visas for position

Job Summary

This position is responsible for completing basic financial processes, but may be extended to moderately complex financial processes depending on the experience of the employee. The base duties include identifying the need for accrual entries, preparing amortization schedules for prepaid and deferred items, reconciling general ledger account balances and preparing correcting entries identified during that reconciliation. Additional duties may include supporting the above activities through reference to authoritative accounting literature and identifying impact of accounting transactions on reported cash flow and existing or contemplated debt covenants.   In addition the job identifies and develops financial processes within the Controller’s organization. Identifies where existing accounting practice are not in agreement with GAAP (generally accepted accounting principles) and proposes changes to those practices to ensure compliance with GAAP. This position will analyze financial results for the department manager to which the analyst is assigned. This analysis will include, but is not limited to, hydrocarbon inventories; purchases and sales; balance sheet accounts; required corrections; and errors and exceptions as identified. Furthermore, depending on the experience of the employee this position may also provide analysis to the operating group which it supports regarding the impact of acquisitions, mergers or divestments. The employee will use knowledge of GAAP, CITGO operations and CITGO financial processes as they relate to both corporate and business unit earnings to act as an analytical resource within the Controller’s organization (and within the business units when necessary). Use creative thinking skills for problems solving. Perform analytical tasks independent of direct daily supervision. 

Minimum Qualifications

  • College Degree (Bachelors Degree) Accounting, Finance, Economics with minimum 12 hours of Accounting.
  • Strong reconciliation skills required.
  • Perform broad financial analysis of results of operations.
  • Prioritize work when given multiple projects.
  • Effective oral and written communication skills.
  • Ability to work in a team/ co-worker environment.
  • Extensive computer skills: Intermediate to advance computer skills including Excel and creation/use of pivot tables.
  • Ability to maintain those skills as technology changes.
  • Work with limited supervision.
  • Influence the work of others.
  • The minimum number of years of job related experience required by this job is 1-3 years.

 

Job Duties

Transaction and accounting analysis on current Pipeline and/or possible Domestic Crude Railcar activity (activities may involve some of the following) – Collaborate with Domestic Operations Team and/or Third Parties to determine reasons for inventory volume variances (price and volume) at refineries, terminals, exchanges and in-transit sites. Report findings and propose process changes to department management. Maintain operating information which identifies the impact of Domestic Crude Railcar and/or Pipeline inventory variations on CITGO cash requirements, daily cash forecast reporting and earnings results. Analyze, document and provide detailed support for discrepancies between CITGO reported Domestic crude inventory and third party inventory (if the CITGO inventory is not under CITGO physical control) for resolution. Evaluate the processes in these areas as directed by department management.

 

Analyze monthly, quarterly and yearly supply data. Provide such for purchase/ sales activity of individual Domestic Crude Railcar and/or Pipeline purchase/sales contracts to ensure accurate interpretation of contract terms for proper execution of transactions including but not limited to invoice payment, billing and cash forecasting. Identify unique customer and supplier relations that could impact CITGO earnings. Report to department manager on how customer/supplier decisions impact earnings variations between months. Compare prices to industry standard working with Operations to ensure the standard price is consistent with known market changes. Review volume changes, especially on related party activity, to ensure accurate reporting. Provide explanations and trend analysis to management.

 

Earnings analysis – Prepare and analyze comparison of current month Domestic Crude Railcar and/or Pipeline results to prior month results as well as current estimated results and annual budget. Identify factors impacting those results. Prepare price/volume analysis; gross margin analysis and an analysis of actual expense compared to planned operations as required as it relates to Domestic crudes. If variation involves purchase price differences, prepare analyses that identify market price changes and volume receipts to validate the impact of the purchase price difference. Evaluate cost recovery of product distribution costs, transportation expense and standard operating expenses as required. Maintain database for the area supported to perform trend analysis as needed. Identify and recommend changes in business practices to maximize CITGO earnings results.

 

Provide backup and assistance when required for transactional processing of CITGO Aruba Marine Acitvity.

 

Prepare and review month-end/quarter-end journal entries for entry into the general ledger by collecting necessary data, analyzing and/or allocating costs and preparing audit trail support for the journal entries.

 

Review and evaluate transactions within the assigned area to ensure recorded results are in agreement with Generally Accepted Accounting Principles (GAAP).  When processes are not in agreement with GAAP, modify those processes to remove the possibility of audit exceptions.  Identify emerging accounting issues before they have a negative impact on the area to which the analyst is assigned.

 

Actively lead and/or participate in process or system improvement Domestic Crude Railcar and/or Pipeline projects, including but not limited to identifying areas for continual improvement and business process re-engineering.

 

Special Projects – Perform analysis as requested by the department manager or Corporate Controller.

 

 

 

 

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