Financial Analyst Job at CITGO Petroleum Corporation, Houston, TX

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  • CITGO Petroleum Corporation
  • Houston, TX

Job Description

• 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 Benefits are not available for this position.
Employer will not sponsor visas for position

This position is responsible for leading basic and complex financial processes depending on the experience of the employee. Basic functions include but not limited to recording and billing of hydrocarbon purchases, sales and transfers, cash forecasting review/maintenance of for the Crude Supply business unit. Additional monthly and quarterly functions include leading month end and quarter end close processes, ensuring accuracy, compliance with Generally Accepted Accounting Principles (“GAAP”), and timely reporting. Furthermore, this position will be evaluating the executed commercial deals entered for any un-common pricing structures that could indicate an embedded derivative, or a speculative position and collaborate with the Technical Accounting Team to ensure compliance with GAAP. This position will lead the financial analysis and reporting processes, including the preparation of complex financial statements and reports. Use creative thinking skills for problems solving. Perform analytical tasks independent of direct daily supervision. 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 and proposes changes to those practices to ensure compliance with GAAP. Depending on the level of experience, this position is expected to mentor and provide guidance to junior accounting analysts.

Degree:

  • Bachelor's Degree in Accounting, Finance, or Business Administration with a minimum of 12 accounting credit hours.

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

  • 2 years.

List any specialized training or unique skills required:

  • Hands-on.
  • Versatile and proactive, with an ability to research issues independently, formulate questions and identify/propose solutions.
  • Perform broad financial analysis of results of operations.
  • Strong Understanding of GAAP
  • Prioritize duties when given multiple projects with limited supervision.
  • Strong interpersonal and organizational skills
  • Extensive computer skills: Intermediate Excel – creation/use of Lookups and Pivot tables.
  • Effective oral and written communication skills.
  • A valid driver’s license is required.

Preferred:

  • Experience with SAP or Right Angle
  • Oil/refined products physical trading.

  Daily Activities

  • Prepare Daily Cash Forecast report of Hydrocarbon procurement and sales activity and provide analysis of daily variances to Treasury.
  • Ensure hydrocarbon purchases and sales are timely and accurately recorded in agreement with shipping support and contractual terms. Resolve any vendor/customer disputes timely.
  • Complete pricing and volume verification with supplier and customers to ensure alignment with contractual terms.
  • Collaborating with various stakeholders to ensure corrections are made in the system. Including and not limited to interaction with Contract Administration, traders, schedulers, vendors and customs reporting team to resolve open items.
  • Create customer invoices, review invoice attributes and submit to customer for payment timely.
  • Coordinate and collaborate with Accounts Payables (“AP”) and Accounts Receivable (“AR”) teams to ensure timely vendor payments and customer collections. This would include requesting AR/AP netting.
  • Mentor and provide guidance to junior accounting analysts, fostering their personal and professional development and growth.
  • Review commercial deals and apply critical thinking to identify un-common or un-usual pricing arrangements that would qualify for potential embedded derivatives or speculative trading and communicate it accordingly to the Technical Accounting team for review.
  • Provide backup and assistance when required for transactional processing of Lake Charles and Corpus Christi Refinery Activity.

Monthly and Quarterly Activities

  • Lead month-end, quarter-end and year-end close processes, ensuring accuracy, compliance with Generally Accepted Accounting Principles (“GAAP”), and timely reporting. Including but not limited to evaluation of potential pricing and volume accruals, secondary cost accrual along with the Crude LIFO Adjustment calculation.
  • Complete the quarterly and annual evaluation of dips and builds in inventory and collaborate with operations on understanding the natures of those builds and dips and ensure the accurate accounting in accordance with GAAP.
  • Lead the financial analysis and reporting processes, including the preparation of complex financial statements and reports. Including but not limited to price/volume/ mark-to-market variance analysis in comparison to prior month actual earnings analysis. Maintain database for the area supported to perform trend analysis as needed. Conduct variance analysis and identify trends and issues to inform management decisions.
  • Lead the preparation of monthly financial reports, including account reconciliations and book to physical volume inventory reconciliations. Collaborate with Operations to confirm agreement to calculated pipeline and marine hydrocarbon gains and losses.
  • Provide strategic insights and recommendations based on financial data analysis to support review of business results.
  • Complete monthly governmental reporting to ensure regulatory compliance with the Canadian Government. 

Other Duties

  • Support regulatory Compliance documentation and reporting requirements.
  • Coordinate with external auditors and internal stakeholders to facilitate audits and ensure adherence to accounting standards.
  • Collaborate with cross-functional teams of traders, schedulers and other accounting and finance functions (e.g., Risk, FP&A) to analyze business performance and drive process improvements.
  • Participate in special projects, system implementations, and process enhancements as needed.
  • Provide strategic insights and recommendations based on financial data analysis to support review of business results.
  • GAAP Accounting – Perform continuous review and evaluation of transactions within assigned area to ensure recorded results are in agreement with GAAP. 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.
  • Stay Updated with accounting regulations, industry trends, and best practices to ensure compliance and optimize financial processes.

Job Tags

Holiday work, Full time, Contract work, Remote job, Relocation,

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