Sr. Manager, Inventory Accounting

Unclassified - Houston, TX

Full-time - Senior

Remote - Houston, TX

About the position

LyondellBasell (NYSE: LYB) is one of the largest plastics, chemicals, and refining companies in the world, driven by its employees around the globe. The company produces materials and products that are key to advancing solutions to modern challenges, such as enhancing food safety through lightweight and flexible packaging, protecting the purity of water supplies through stronger and more versatile pipes, improving the safety, comfort, and fuel efficiency of vehicles, and ensuring the safe and effective functionality of electronics and appliances. LyondellBasell sells products in over 100 countries and is recognized as the world's largest producer of polypropylene compounds and the largest licensor of polyolefin technologies. In 2021, the company was named to Fortune Magazine's list of the "World's Most Admired Companies" for the fourth consecutive year. This position reports to the Controller, Americas & Corporate, and is responsible for the design, development, and delivery of Inventory Accounting strategy and process performance outcomes for the global organization in line with the overall CAO strategy. The role requires strong interpersonal skills and the ability to develop relationships with diverse groups of financial and operating personnel at various levels throughout the organization. Key responsibilities include consolidated US GAAP and IFRS inventory accounting, review of volumetric controls, LIFO and FIFO inventory valuation, product costing, inventory adjustments, and performing inventory oversight reviews. The position also involves leading Inventory Accounting on inventory-related projects and driving global inventory accounting process automation and improvements. A day in this role includes leading and mentoring direct reports to deliver efficient and effective accounting solutions in accordance with corporate policies and legislative requirements. The successful candidate will lead the department in producing accurate and timely accounting records for all inventory activities, oversee outsourced support of inventory processes, and maintain a strong understanding of inventory rules and regulations. The role also involves developing management reporting and KPIs, preparing accounting reporting packages for regulatory filings, and serving as the primary point of contact for internal and external audits related to inventory accounting. Additionally, the position requires effective direction and guidance to team members to promote a professional work environment and coordinate global end-to-end process training across the organization.

Responsibilities

• Lead and mentor direct reports in delivering efficient and effective accounting solutions in accordance with corporate policies and legislative requirements.
• Produce accurate and timely accounting records for all inventory activities including journal entries, documentation, account and subsystem reconciliations, roll forward schedules, and reporting deliverables.
• Oversee outsourced support of inventory processes and collaborate on process improvement and automation projects.
• Responsible for LIFO and FIFO results under US GAAP and IFRS.
• Maintain strong understanding of inventory, LIFO and FIFO rules, regulations, and industry best practices while providing leadership to ensure compliance.
• Develop and maintain management reporting and KPIs for the accounting functions.
• Prepare and maintain monthly, quarterly, and annual accounting reporting packages to support regulatory filings under US GAAP and IFRS.
• Serve as the primary point of contact for internal and external audits relating to inventory accounting.
• Provide effective direction and guidance to all team members to promote a professional work environment.
• Coordinate global end-to-end process training to all areas and levels of the organization.
• Ensure effective integration into shared service model while supporting system implementations.
• Serve as global process leader of inventory to account for acquisition and divestiture transactions.
• Drive effective cross-functional teams to establish and embed continuous improvement opportunities across tasks and activities.
• Build and manage a high-performing global team with appropriate recruitment plans and skills gap assessments.
• Manage a culture of performance within the team, ensuring the company's performance management process is embedded and delivered.
• Deploy and manage strategic discussions with customers regarding service offerings and performance transparency.
• Establish and maintain a process to identify issues, perform root cause analysis, and establish mitigation plans.

Requirements

• Bachelor's degree required, accounting or related discipline preferred.
• At least 10+ years of experience in finance and strong evidence of leading an operational finance department.
• Experience in a dynamic and deadline-driven environment.
• Experience with Internal Controls and SOX/404 requirements.
• Experience in process design and implementation within a financial software package (ideally SAP).
• Demonstrated experience in process management, particularly KPI and benchmarking.

Nice-to-haves

• Understanding of the business and finance processes within the Petrochemicals business model, highly desirable.
• CPA or international equivalent.
• Experience of working in different international geographical regions.

Benefits

• Competitive total compensation package including base pay and variable incentive pay programs.
• Global Remote Work Policy allowing eligible employees to work up to three days a week from home.
• 401(k) Plan with Company Match.
• Retirement (Pension) Plan.
• Employee Stock Purchase Plan.
• Educational Assistance.
• Choice of Preferred Provider or Consumer Driven Medical Plan including Prescription Drug Coverage.
• Dental, Vision and Employee Assistance Program.
• Flexible Spending Accounts.
• Life, AD&D and LTD Insurance.