Olefins Financial Analyst

Company:

INEOS Olefins & Polymers USA

Interested in joining a winning team? A team whose employees share in the ownership of the business and are empowered to make a difference?

Grade: Grade 33-34

OrganiZational context
and job purpose

INEOS Olefins and Polymers USA is one of the largest integrated producers of olefins and polyolefins in North America.  From its primary manufacturing locations at Chocolate Bayou and LaPorte, Texas, it is a merchant marketer of butadiene, ethylene, polypropylene, and high-density polyethylene with annual revenue of over $6 billion.

How the Role Fits In:

This position assists the O&P financial team by supporting the internal control environment, delegation of authority, external audit reviews, and financial transaction processing as necessary.  In this role, the analyst must work closely with commercial teams and other members of the O&P finance team.

Purpose of Job

The olefins financial analyst is responsible for supporting business management with operational reporting, forecasting, and financial results analysis.   

Responsibilities AND Accountabilities

• Assist and provide oversight to the monthly financial closing process, including preparation of financial entries and monitoring of earnings, capital employed and cash flow.  Post and summarize olefins actual results from SAP.  This includes review of mass balance and cost of goods sold comparison with invoiced sales quantities, as well as inventory valuation.
• Provide financial reporting support to olefins business management and functional management as necessary.  This includes detailed sales and inventory reporting, as well as financial statement reporting.  Perform variance and trend analysis on monthly results to point out significant changes from plan and develop explanations regarding the key events affecting financial results.  This work involves discussion of results with plant financial analysts, commercial teams and other business unit financial analysts (e.g., Polymers).
• Support business management in preparation of latest earnings estimate (Group Financial Outlook).  This includes analysis and explanation of significant sales or operating changes from previous forecasts.  In this role, the analyst will advise business management of the financial impact (earnings, cash flow) related to short term decisions on production levels, pricing action, etc.  Prepare the olefins forecast summary on a monthly basis to show the forecast changes and statistics associated with the latest estimate.
• Coordinate and compile detail associated with the annual performance plan (budget) for the business.  This includes working with manufacturing and commercial teams to assist with establishing cost targets, production factors, working capital metrics, and other milestones.
• Assist in maintaining olefins financial data in SAP as necessary, including cost centers, internal orders, cost allocations for the home office, etc.
• Assist in report coordination for other initiatives as necessary, including the receivables securitization program, property taxes, annual audits, year end schedule preparation, etc.
• Prepare the business unit and product line balance sheet monthly and review account reconciliations to provide assurance on data integrity.
• Provide oversight and support to the business unit delegation of authority and internal control environment by reviewing approvals on payment requests, price changes, inventory write offs, fixed asset dispositions and other transactions.
• Prepare O&P monthly working capital detail reports and coordinate meetings to review with various teams for updates and communicate changes to other teams impacted (e.g. cash team).
• Prepare and provide relevant reports and information on a quarterly and annual basis as required by other members of the finance team.
• Calculate and communicate propylene dividends.
• Coordinate the netting processes with Marathon including collecting information from manufacturing sites, commercial teams as well as other INEOS businesses via termsheet trackers and validate all payables and receivables prior to preparation of payment forms.

Skills & Knowledge Required

Education/Experience

•  4+ years of financial experience required, preferably in the chemical industry. 
• Specific grade level commensurate with experience.  Previous experience in an accounting or finance positions is desirable. 
• The candidate would preferably be familiar with the chemical industry and chemical accounting procedures. 
• Bachelors degree in accounting, finance, business administration or equivalent. 
• Advanced degree/education such as MBA or CPA is a plus.

Skills/Competencies

Technical skills:

The candidate should be skilled in the use of existing SAP information systems, excel spreadsheets, data processing, and microsoft office tools. 

Behavioral skills

• Self starting, highly motivated individual
• Strong communication skills
• Demonstrated analytical ability. 
• Strong planning and organizing, teamwork,  accountability, process improvement, initiative, positive attitude. 

Candidates must be fully vaccinated against COVID-19.

Our culture is one of honesty and integrity with an emphasis on safety, health and environmental performance.On our team, people are acknowledged for embracing new practices that help create real value for customers.