Cash Application Analyst (Finance)
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 processing daily payments received via wires, ACH, manual checks, and lockboxes through the Electronic Bank Statement (EBS) and SAP. It includes posting accounting entries to accurately record business transactions, net-outs, offsets, and daily cash transfers. The role also involves preparing daily pool/non-pool reports for AR securitization activities. The position requires close collaboration with the Treasury and Credit departments. Attention to detail is crucial for identifying issues. Additionally, the role entails performing analytical tasks, such as reconciling EFTs, managing the general ledger, and updating data in the EBS table for customer mapping and posting rule changes.
Minimum Qualifications
High School Diploma
4 years of experience
Ability to meet daily deadlines.
• Communication, analytical and problem-solving skills.
• Interpersonal skills to develop and maintain positive relationships with customers and co-workers across the industry.
• Ability to effectively work in a team environment.
• Proficiency in SAP, Excel and Word preferred.
• Occasional overtime required
Job Duties
1. Post daily cash receipts from: Wires, ACH, Lockboxes, and Manual checks. Ensure all payments are applied to the proper customer accounts and to the invoices based on the remittance the customer has provided. Apply existing cash on account and credits to appropriate customer accounts. Monitor unapplied cash and keep balance to a minimum.
2. Process the daily pool and non-pool accounts and report timely and accurately. Process EFT returns timely and accurately by working with the Treasury and Credit Manager to make sure that detail reports are received.
3. Work with Customer Service group to analyze, research and resolve discrepancies in a timely manner. Prepare and track all necessary documents for over/under payments.
4. Oversee the Credit Relief Interface in the Right Angle ETRM system, ensuring all invoices are accurately cleared within the system. Verify that all cleared invoices in SAP are also reflected in Right Angle, maintaining accurate credit limits for customers.
5. Assist in month end closing activities: run reports for sales org and assignments, clearing of AR general ledger prior to AR closing.
6. Reconcile EFT account for 1037 & 1040 and clear balances. Update and maintain EBS tables for customer mapping and post-rule changes. Update the customer cross-reference guide which is used to help with one time customer payments.
7. Attach document support for cash payments processed. Provide first line support and back-up for other cash application analysts. Archive support documentation received in customer remittance mailbox.
Job Duties II
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 - 1242
