Controller's Financial Analyst - Contractor

Controller's Financial Analyst - Contractor

Houston, TX 77077

 

1. 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 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 work closely with Treasury and Operations in the daily cash forecasting process. This position will analyze financial results for the refinery 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. The employee will use some knowledge of GAAP, company operations and company 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.

 

Daily:

• On a rotation basis, prepare Daily Cash Forecast report of Hydrocarbon procurement and sales activity and provide analysis of daily variances to Treasury.
• Completion of actualizing current month scheduled nominations daily as data becomes available
  • All current month nominations should be actualized prior to inventory close on 2nd business day.
  • Review supporting volume documentation prior to actualization to ensure accurate reporting.
• Confirm pricing with supplier vendors as invoices are received for pricing, quantity, terms, etc.
  • For contract term pay-date, prepayment, and subsequent true ups.
  • Receive, reconcile volumes and prices, prepare invoice with SAP coding, i.e, Purchase Order, pay terms for Accounts Payable processing.
• Necessary transaction reversals/adjustments for quantity/price must be supported by approved changes from related business units. Interacting required with traders, schedulers, vendors and customs reporting team to resolve open items.
• Create customer invoices, review invoice attributes and submit to customer for payment.
• Provide backup and assistance when required for transactional processing of Lake Charles Refinery Activity.

Monthly Analysis:

• Complete monthly closing duties
• Coordinate with the customer representatives related to the Solvents activity during close for invoicing
• Accruals for the estimate volume and adjustment for true up per final pricing or volume of purchases and sales.
• Provide monthly reports to the designating group.
• Adjust for corrections gain/loss volumes per inventory reconciliation.
• Any required corrections to solvents clearing expenses posted during the month.
• As required, perform transaction processing or account analysis associated with accounting reporting for corporate consolidations, financial reporting and external reporting.
• Prepare profit center current estimated 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.
  • Prior Month-end Close actual.
  • Current Month estimate.
• Inventory reconciliation to analyze and reconcile discrepancies between company SAP Material Master system reported inventory versus refineries, third party statements, or system in-transit plants for resolution. Collaborate with Operations to determine reasons for inventory variances (price and volume). Report your findings and proposed process changes to department and supply business partner management.

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.

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.

 

Degree:

• College Degree (Bachelors Level) Accounting, Finance, or Business Administration with minimum of 12 accounting credit hours.

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

• 2-5 years.

List any specialized training or unique skills:

 

Required:

• Perform broad financial analysis of results of operations. Prioritize duties when given multiple projects with limited supervision
• Extensive computer skills: Intermediate Excel – creation/use of Lookups and Pivot tables.
• Effective oral and written communication skills.

Preferred:

• Experience with SAP or similar software including report generation.