CITGO Petroleum Corporation

  • Financial Analyst

    Requisition #
    2018-5037
    City
    Houston
    State
    Texas
    # of Openings
    1
  • Relocation

    Relocation Benefits are 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 recording accounting entries for product purchases, sales and transfers.  Additional 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.  Also, 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 work closely with Treasury and Operations in the daily cash forecasting process.  This position will analyze financial results for the refinery 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.  The employee will use some 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 Level) Accounting or Finance with minimum of 12 accounting credit hours

     

    Perform broad financial analysis of results of operations.   

    Prioritize work when given multiple projects. 

    Extensive computer skills:  Excel, Word. 

    Have effective oral and written communication skills. 

    Work with limited supervision. 

    Influence the work of others.

     

    2-5 years of job related experience required.

     

     

    Job Duties

    1. Monthly Analysis

    • Prepare and analyze comparison of current month 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; analysis of actual vs. planned or budgeted expense; other month end or month to month analysis as required. Compare market price variations to actual variations and validate reasonableness of reported results.  Evaluate transportation expenses and other standard operating expenses as required. 
    • Review billing metrics results and provide detailed explanations for activity that exceeds the established threshold. Review and maintain inspection reports/pipeline tickets/ rail BOL, email correspondences, sales agreement and other supporting documentation.  Work with Operations, as necessary, to complete periodic analysis. 
    • Handle daily cash forecast upload. Prepare analysis and provide Treasury explanations for current vs prior day variances.
    • Prepare other month end reporting and analysis (i.e. purchase report, sales report, related party report)

    2. Transaction and account analysis (activities may involve some or all of the following)

    • Analyze purchase and sales contracts to ensure accurate interpretation of contract terms for proper execution of transactions. Review pricing formulas working with Mid-Office to ensure sales/purchase orders are properly updated prior to finalizing transaction in SAP.   Review supporting volume documentation prior to actualization to ensure accurate reporting.  .  
    • Analyze discrepancies between CITGO reported inventory and third party for resolution. Collaborate with Operations to determine reasons for inventory variances (price and volume) at refineries, terminals, exchanges and in-transit sites.  Report your findings and proposed process changes to department management. 
    • Review nomination reports daily and action product movements appropriately and promptly.
    • As required, perform transaction processing or account analysis associated with accounting reporting for corporate consolidations, financial reporting and external reporting.
    • Review nomination reports daily and action product movements promptly.
    • Review supplier product invoices for accuracy, assign proper coding, and submit for processing
    • Create customer invoices, review invoice attributes and submit to customer for payment
    • Complete monthly closing duties (i.e. accruals, LIFO entries, clearing items on open nomination report, etc.)

    3. Special Projects/Reports – Perform report summarization and/or analysis as requested providing management with results and recommendations for improvements.

     

    4. 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.  If this modification results in substantial changes to processes, communicate this potential with the finance department manager.

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