CITGO Petroleum Corporation

Derivative Accounting Manager

Requisition #
2022-6667
City
Houston
State
Texas
# of Openings
1

Our Favorite CITGO Perks are:

• Remote Work options available for eligible positions
• Options are department and/or location specific
• 9/80 Work Schedule Option (where applicable)
• Annual Vacation Incentive (40-120 hours of additional pay) for Eligible Employees
• Paid Vacation Time
• Company-Paid Holidays
• Parental Leave
• Excellent 401(k) Match
• Pension Plan
• Company-Paid Sick Leave and Long-Term Disability
• Medical, Dental, & Vision Plans; FSA and HSA options
• Company-Paid Life Insurance for Active Employees
• Healthy Rewards Program
• Service Awards Program
• Educational Assistance Plan
• Dependent Children Scholarships
• Reimbursement for Gym Membership
• Employee Discount Programs
• On-site Health Clinic
• On-site Cafeteria (select locations)
• On-site Credit Union and ATM (Corporate office only)
• On-site Fitness Center (select locations)
PLEASE NOTE ALL JOBS DO NOT QUALIFY FOR ALL PERKS

Relocation

Relocation Benefits are not available for this position.

Note

Employer will not sponsor visas for position

Job Summary

This position is responsible for ensuring derivative accounting transactions are appropriately documented and accounted for, which will require working closely with other groups across the organization (e.g. Risk & Pricing, Supply & Marketing, Accounting). The role has additional reporting responsibilities, including (i) internal reporting responsibilities, including estimate and other reporting requirements related to derivative activities, (ii) leading derivative related external reporting functions such as review of derivative disclosures in quarterly/annual financial statements and earnings call preparation materials and (iii) acting as the primary point of contact for the external auditors on derivative accounting matters.

 

This individual will work closely with the Assistant Controller, Financial Reporting & General Accounting, and the GM Commercial Risk and Pricing to support Management’s understanding of existing and proposed risk management strategies and the impact of such strategies on accounting results and disclosures.

Minimum Qualifications

Degree:

  • College Degree (Bachelors Level).
  • CPA license preferred.

The minimum number of years of job related experience required by this job is: 

  • 5 years.

List any specialized training or unique skills required:

  • Active Certified Public Accountant (CPA) preferred
  • National or major regional public accounting firm experience at the manager level preferred
  • Strong understanding of commodity derivatives and application of accounting principles
  • Excellent written and oral communication skills
  • Ability to work with limited supervision
  • Strong analytical ability

Job Duties

  1. Supervise day-to-day derivative accounting transactions and responsibilities and performance/review of month-end controls. Requires regular communication with mid-office/risk and trading/supply teams to ensure transactions are effectively identified and accounted for and applying appropriate accounting treatment under relevant accounting standards (collaborating with Technical Accounting personnel, when necessary).
  2. Support the Corporate Finance team for routine and non-routine internal reporting requirements/requests (including estimates and earnings meetings) and lead the quarterly/annual external reporting processes for derivative related matters (earnings calls and financial statements & disclosures).
  3. Develop, implement and maintain derivative accounting policies and procedures and ensure team compliance with such policies and procedures.
  4. Manage and serve as the primary point of contact for all derivative accounting matters with the external auditors.
  5. Leads staff development/education with regard to understanding of risk management strategies, derivative positions and related impact on day-to-day responsibilities.  
  6. Other duties as assigned.

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