Sr. Manager, Inventory Accounting

LyondellBasell.

Come Join An Inclusive Team:

LyondellBasell (NYSE: LYB) is one of the largest plastics, chemicals and refining companies in the world. Driven by its employees around the globe, LyondellBasell produces materials and products that are key to advancing solutions to modern challenges like 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 many of the cars and trucks on the road, and ensuring the safe and effective functionality in electronics and appliances. LyondellBasell sells products into more than 100 countries and is the world's largest producer of polypropylene compounds and the largest licensor of polyolefin technologies. In 2021, LyondellBasell 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. This includes accountability for the end-to-end process design and performance for defined process elements. In this position, you will need to exhibit strong interpersonal skills and the ability to develop relationships with diverse groups of financial and operating personnel at various levels throughout the organization.

 

Responsibilities include Consolidated US GAAP and IFRS inventory accounting, review of volumetric controls, LIFO and FIFO inventory valuation, product costing, inventory adjustments, performing inventory oversight reviews.     Leading Inventory Accounting on inventory related projects and continually drive for global inventory accounting process automation and improvements.  

 

This role includes direct leadership of Inventory Accounting teams based in US, Europe, India and Asia.

A Day In The Life:

• Lead and mentor direct reports in delivering efficient and effective accounting solutions in accordance with corporate policies and legislative requirements; specifically:
• Lead department on producing accurate and timely accounting records for all inventory activities including journal entries, documentation, account and subsystem reconciliations, roll forward schedules (where applicable) and reporting deliverables.
• Lead and oversee outsourced support of inventory processes and collaborate on process improvement and automation projects.
• Responsible party 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 the organization to ensure results are in accordance with rules and  regulations.
• Develops and maintains management reporting and develops management KPIs for the accounting functions where required.
• In conjunction with the external reporting group, develops, prepares and maintains monthly, quarterly and annual accounting reporting packages to support regulatory filings under US GAAP and IFRS (Statutory reporting where applicable)
• Primary point of contact for internal and external audit relating to inventory accounting.
• Provides effective direction and guidance to all team members to continuously promote a professional work environment that fosters respect, teamwork, and customer service amongst all colleagues.
• Coordinates global end to end process training to all areas and levels of the organization.
• Ensures 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, with but not limited to, Finance, IT, Global Procurement, Global Manufacturing, Supply Chain, SP&T, Tax, Treasury, Accounting Policy, External and Internal Reporting to establish and embed continuous improvement opportunities across the spectrum of tasks/activities/controls in the end-to-end process.
• Builds and manages a high performing global team with globally benchmarked role profiles, team skills gap assessment and appropriate recruitment plan. Manage the hiring process within the agreed headcount budget, ensuring appropriate talent pool is developed, selected and maintained.
• Manage a culture of performance within the team, ensuring the company’s performance management process is embedded and delivered within the timelines. This includes ensuring formal performance reviews are conducted to provide real-time affirmative and constructive feedback that is linked to clearly defined and SMART objectives and goals and development plans are implemented to facilitate career