Associate Financial Analyst or Financial Analyst Refining Accounting
CITGO Petroleum Corporation - Houston, TX

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Employer will not sponsor visas for position

Job Summary:
This position is responsible for completing basic financial processes. This includes 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. In addition the job identifies and develops financial processes within the Controller’s organization. Identify where existing accounting practice is not in agreement with GAAP (generally accepted accounting principles) and propose changes to those practices to ensure compliance with GAAP. This position will analyze financial results for the department 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. 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:
College Degree (Bachelors Level) in Accounting, Finance or Economics with 12 minimum accounting credit hours.

Perform broad financial analysis of results of operations.
Compare business results to GAAP results.
Prioritize work when given multiple projects.
Extensive computer skills: Excel, Access, Word.
Work with limited supervision.
Influence the work of others.

The minimum number of years of job related experience required by this job is 1.

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 or month analysis as required. Compare market price variations to actual variations and validate reasonableness of reported results. Evaluate cost recovery methods in place for product distribution costs, transportation expenses and standard operating expenses as required.
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. Compare prices to industry standard working with Operations to ensure the standard price is consistent with known market changes. Review volume changes, especially on related party activity, to ensure accurate reporting. For purchases and sales activity analyze monthly, quarterly and yearly activity.
Analyze discrepancies between CITGO reported inventory and third party inventory (if the CITGO inventory is not under CITGO physical control) for resolution. Collaborate with Operations to determine reasons for inventory variances (price and volume) at refineries, terminals, exchanges and in-transit sites. Report findings and proposed process changes to department management.
Provide explanations and trend analysis to management. Perform analysis of accounts impacted by fixed asset, accounts payable, accounts receivable, payroll and benefits transactions. Evaluate the processes in these areas as directed by department management.
As required, perform transaction processing or account analysis associated with accounting reporting for corporate consolidations, financial reporting and SEC reporting.

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.

About this company
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From the get-go CITGO Petroleum has been refining and marketing petroleum products, including jet fuel, diesel fuel, heating oils, and...