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 financial statements. 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 supervisor to which the analyst is assigned to.  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 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

• Bachelor’s degree in Accounting or Finance or a Bachelor’s Degree in Business Administration with a focus in Accounting or Finance.

• 2 years of experience
• 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 (Generally Accepted Accounting Principles)  
• 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.  

Preferred:

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

Job Duties

Daily

• 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.
• Complete pricing and volume verification with supplier and customers to ensure alignment with contractual terms. Coordinating with various stakeholders to ensure corrections are made in the system will require interaction with 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. 

2.         Monthly Analysis –

• Complete monthly closing duties 
• Volume and Pricing Accruals for purchases and sales based on contractual terms. 
• Regulatory journal posting for Harbor Maintenance Fees and Customs duties
• Adjustments for corrections and gain/loss volumes per inventory reconciliation
• Any required corrections to expenses posted during the month 
• Calculate and post to ledgers the LIFO inventory adjustment per GAAP for Corpus Crude.

Job Duties II

• As required, perform transaction processing or account analysis associated with accounting reporting for corporate consolidations, financial reporting and external reporting
• Prepare profit center earnings analysis.  Prepare 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.
• Prepare Inventory reconciliation to analyze and reconcile discrepancies between book versus physical balances as support by refineries, third party statements, or system in-transit plants for resolution. Collaborate with Operations to determine reasons for inventory variances (price and volume). 

3.         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.

4.  Special Projects/Reports –

• Regulatory Compliance documentation and reporting requirements.
• External & Internal Audit supporting documentation requirements requested.

Perform report summarization and/or analysis as requested providing management with results and recommendations for improvements