Lubes Account Officer at Matrix Energy Group

JOB SUMMARY

To drive profitability and operational efficiency of the lubricants business by ensuring robust inventory control, accurate product costing, and complete revenue capture, while minimizing stock losses and financial leakages across production, warehousing, and distribution activities. through meticulous reconciliation and data analysis.

RESPONSIBILITIES AND ACCOUNTABILITIES

• Inventory Accounting & Control: Maintain accurate records for bulk and packed lubricants across multiple warehouses and distribution points.
• Stock Reconciliation & Variance Management: Perform daily, weekly, and month-end stock reconciliations between physical counts and ERP balances.
• Investigate variances (production losses, handling losses, pilferage) and escalate unresolved issues promptly.
• Track and report stock losses against approved thresholds.
• Product Costing & Production analysis: Compute and maintain standard and actual product costs (base oil, additives, packaging, blending, logistics).
• Analyze production variances and yield losses to support operational efficiency.
• Support periodic review of cost assumptions and bill of materials (BOM).
• Margin & Forecasting Analysis: Monitor product profit margins and prepare cost performance reports to support management in pricing and budgeting decisions.
• Sales Reconciliation: Review and reconcile lubricant sales transactions across various channels to ensure all revenue is accurately captured and posted.
• Receivables Management: Monitor customer balances and support the follow-up of outstanding receivables to ensure healthy cash flow.
• Compliance & Financial Reporting: Prepare periodic financial reports on sales and stock positions, ensuring all records comply with regulatory standards and supporting annual audit processes. 
• Data Integrity: Ensuring the accuracy and completeness of all inventory and financial data within the company’s ERP system.
• Stock Loss Control: Monitoring and controlling stock losses to ensure they stay within approved company thresholds.
• Valuation Accuracy: Ensuring lubricant inventory valuation aligns with established principles, such as FIFO (First-In, First-Out).
• Audit Readiness: Maintaining meticulous documentation of all transactions to facilitate smooth internal and external audits.

QUALIFICATION AND SKILL REQUIREMENTS

• Bachelor's degree in Finance, Accounting, or a related field.
• Professional qualification such as ACCA/ICAN or equivalent- completed or in progress
• 1-3 years of experience in accounting roles within the oil and gas, retail manufacturing, or FMCG (Fast-Moving Consumer Goods) sectors.
• Strong understanding of inventory accounting and cost control
• Analytical mindset with the ability to detect anomalies and leakages
• Proficiency in ERP systems (SAP, Oracle, or similar) and Excel
• High attention to detail and strong reconciliation skills
• Ability to work in a fast-paced, operational environment
• Good stakeholder management (operations, depot staff, commercial teams)
• Interested candidates must reside in Warri, Delta State.