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Associate Financial Analyst
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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 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. Additional duties may include supporting the above activities through reference to authoritative accounting literature and identifying impact of accounting transactions on reported cash flow and existing or contemplated debt covenants. 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 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. Furthermore, depending on the experience of the employee this position may also provide analysis to the operating group which it supports regarding the impact of acquisitions, mergers or divestments. 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.
Degree: College Degree (bachelors Level). Accounting, Finance or Economic.
The minimum number of years of job related experience required by this job is: 0-1 years.
List any specialized training or unique skills required:
- Strong reconciliation skills required.
- Perform broad financial analysis of results of operations.
- Prioritize work when given multiple projects.
- Effective oral and written communication skills.
- Ability to work in a team/ co-worker environment.
- Extensive computer skills: Excel, Access, Word and the ability to maintain those skills as technology changes.
- Work with limited supervision.
- Influence the work of others.
- Perform day-to-day accounting transactions and general ledger postings for wholly owned and Joint Interest Pipelines. Maintain appropriate reconciliations for all accounts and balances related to these entities. Maintain close communication with the business units of Lafitte, Citgo Pipeline, Citgo Products Pipeline and Joint Interest Pipelines to ensure proper understanding of all transactions. Record timely and accurately in detail all the transactions related to the business activities on an accrual basis. Maintain appropriate auditable supporting documentation. Provide explanations and analysis to management. Prepare the PBCs requested by the external auditors and provide all the support documentation requested on an annual basis. Identify and recommend changes if needed to ensure all activity conforms to CITGO best practices for controls and processes. Develop and maintain documented procedures for the activities performed.
- Perform day-to-day accounting transactions and general ledger account reconciliations for Expense TA partners. Prepare, obtain authorization and process payment requests related to expense TA’s. Record in detail all the transactions related to the business activities on an accrual basis timely and accurately per closing schedule. Maintain communication with the different departments to ensure all the transactions are recorded properly. Ensure accurate reports that support this activity. Provide explanations and analysis to management. Identify and recommend changes if needed to ensure all activity conforms to CITGO best practices for controls and processes. Develop and maintain documented procedures for the activities performed.
- Monitor the activity, invoices and payments related to TA expenses. Maintain appropriate auditable supporting documentation in order to timely and accurately per closing schedule prepare and enter all journal entries that affect the various vendor accounts. Maintain communication with the different departments to ensure all the transactions are recorded properly.
- Meet closing and financial reporting deadlines. Identify and recommend changes if needed to ensure all activity conforms to CITGO best practices for controls and processes.
- Special Projects – Perform analysis as requested by the department manager or Corporate Controller. Perform special projects associated with PDVSA.
- 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. Identify emerging accounting issues before they have a negative impact on the area to which the analyst is assigned.
- FERC / State Reporting – Prepare and submit Quarterly and Yearly FERC Form 6 to The Federal Energy Regulatory Commission. Ensure that financial statements are prepared for submission based on current FERC chart of accounts and requirements. Prepare and submit monthly state required forms related to Pipeline Operations for the states of Texas and Louisiana. Coordinate with operations that all ticket and other operational data is timely and accurate for submission.