This position is responsible for completing moderately complex financial processes. This includes 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. In addition the job identifies and develops financial processes within the Controller’s organization. Identify where existing accounting practice is not in agreement with GAAP (generally accepted accounting principles) and propose 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. 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.
Perform monthly/quarterly financial closing and consolidation processes, with multiple consolidation scopes. Validate accuracy and completeness of master data and transactional data loads. Record monthly entries for all equity investments based on financial statements provided. Research inter-company discrepancies prior to month-end closing, and work to resolve with various groups within the Controller’s organization. Ensure various eliminations are performed properly within the consolidation hierarchy. Perform monthly equity analysis to record net income of subsidiaries onto the parent level entities. Perform changes to the ownership manager as necessary.
Earnings Analysis – Prepare and analyze comparison of current month results to prior month results as well as current month estimated results. Identify factors impacting those results. Prepare corporate revenue/expense analysis; gross margin analysis and an analysis of actual expenses compared to planned operations as required. Maintain documentation for the area supported to perform trend analysis as needed. Identify and recommend changes in business practices to maximize CITGO’s earnings results.
GAAP Accounting – Perform continuous review and evaluation of transactions within assigned area to ensure recorded results are in agreement with generally accepted accounting principles. When processes are not in agreement with GAAP, modify those processes to remove the possibility of audit exceptions and later corrections. Identify emerging accounting issues before they have a negative impact on the area to which the analyst is assigned.
Provide assistance with master data maintenance including creating and/or updating cost center, profit center, internal and statistical order data as needed. As required, perform transaction processing or account analysis associated with corporate consolidations, financial reporting, or other departments within the Controller’s group. Create and post journal entries sent to the General Accounting department from various business units.
Special Projects – Perform analysis as requested by the department manager or Asst. Corporate Controller.
This position will also backup the General Accounting – Insurance Financial Analyst.
Assist in the preparation of audit schedules for internal and external auditors.