FINANCIAL ANALYST-50024663 - CITGO Petroleum Corporation

CITGO PETROLEUM CORPORATION

CITGO Petroleum Corporation is a recognized leader in the refining industry and operates under the well-known CITGO brand. CITGO owns and operates three refineries located in Lake Charles, LA.; Lemont, IL.; and Corpus Christi, TX, and wholly and/or jointly owns 38 active terminals, six pipelines and three lubricants blending and packaging plants. With approximately 3,300 employees and a combined crude capacity of approximately 807,000 barrels-per-day (bpd), positions CITGO as one of the best-branded supplier companies in the industry.

At CITGO our people are our most important resource. Our core values are Safety, Integrity, Respect, Accountability, and Care.

Job Summary

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 and maintenance of for the Crude Supply business unit. Additional monthly and quarterly functions include leading month end, quarter and Year 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.

Minimum Qualifications

• Bachelor's Degree in Accounting
• 2 years of job-related experience
• CPA or advanced certification such as CFA, CMA is preferred.
• Supervisory experience a plus.
• Expertise in financial reporting, GAAP, and financial analysis methodologies.
• Proficiency in financial software applications such as SAP and Right Angle is a plus.
• Advanced proficiency in Microsoft Excel.
• Strong analytical, problem solving, and critical thinking skills, with the ability to interpret complex financial data and trends.
• Excellent communication, leadership, and interpersonal skills, with the ability to collaborate effectively across departments and levels of the organization.
• Proven track record of cross functional collaboration, managing multiple priorities, meeting deadlines, and driving results in a dynamic environment.
• Experience with accounting for oil and refined products physical and derivative trading a plus.
• Experience with data visualization tools such as Tableau, Power BI and ERP system implementations is a plus.

Job Duties

• 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 and 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 or AP and Accounts Receivable or AR teams to ensure timely vendor payments and customer collections. This would include requesting AR and 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 uncommon or unusual 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
• 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.

Job Duties II

• Lead the financial analysis and reporting processes, including the preparation of complex financial statements and reports. Including but not limited to price and volume and 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.
• 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 such as Risk or FP and 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 agree 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 duties displayed above are not all-inclusive, site-specific responsibilities may be assigned.

Here are the incentives we offer:

• 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
• Caregiver 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 (select locations)
• 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

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or disability.

Requisition ID - 642