D1b88ac3

Reporting Officer

  • Location:

    Basrah

  • Sector:

    Oil & Gas

  • Contact:

    Shireen Ahmed

  • Job ref:

    2826

  • Published:

    19 days ago

  • Expiry date:

    2022-06-29

MSELECT is hiring a Reporting Officer for an international oil and gas operator in Basrah. Candidates must have at least 3 years of experience in oil and gas financial operations. Fluency in English is a must.

 

Job Objective

To assist Finance Manager and Section Head Reporting to manage reporting functions including in relation to Month End Reporting Procedures and Performance Reporting to Management, Quarterly Invoices to BoC, Fixed asset accounting, GL Integrity, and other routine tasks in line with the approved policies and procedures

KEY ACCOUNTABILITIES

People Management

Work in co-ordination with other finance team members and other department users to perform the operations Currently no supervised direct reports however, broad interactions with all Dept.'s, Budget Holders, Finance, Planning, PSCM Team, audit, and other stakeholders

Month End Procedures

  • Co-ordination with users for various departments in relation to Value of Work Done (VoWD) reporting and closing necessary accruals in the books
  • Seeking feedback from users for variances in spending
  • Facilitation in preparations of entries for corrections/ fixations as and when required
  • Preparation of cost allocations cycles in SAP and monthly execution of the same
  • Execution of settlements for orders and WBS as part of month end procedures
  • Revenue entries and input of oil prices in SAP to calculate the Net entitlement for depletion calculation
  • Execution of depreciation/depletion run in system
  • Ensure no balance is appearing in clearance GLs in SAP and any pending balances are justified
  • Close coordination with AP team, Treasury Team and MM team for month end closure activities
  • Proper storage for supporting workings /documentation for entries for audit trail
  • Support in preparation of Monthly Management Review Reports, Quarterly Financial Statements and Quarterly Performance Review Reports/presentations

Quarterly Invoices to BoC

  • Facilitate in gathering and compiling data for preparation of provisional and final quarterly invoice to BoC in accordance with the provisions of EDPSC including data and schedules for:
  • Production reports and oil prices
  • Petroleum cost and remuneration fee
  • Lifting
  • Update of statement of disputes based on CRC minutes
  • Keeping record of Endorsement letters and CRC minutes

Contract Reviews

  • To facilitate PSCM department in review of finance related provisions in the contract/Invitation to BID documents including with respect to provisions for invoices, bank guarantee/ retention, insurance and tax clauses
  • Facilitate PSCM in review and marking of financial strength of vendors as part of financial evaluation of bidders as per approved financial strength evaluation matrix
  • Facilitate in responding to PSCM for exceptions raised by bidders
  • Co-ordinate with Treasury in relation to bank guarantee renewal related queries raised by vendors / PSCM

Fixed Asset Accounting

  • Ensure execution of settlements in SAP to move cost to AUC
  • Periodic analysis of AUC in co-ordination with project owners and initiate capitalization on project approval
  • Allocation of common cost including capitalized G&A, infrastructure fund etc. to Fixed assets
  • Maintenance of Fixed asset register in accordance with applicable regulations and industry best practices while ensuring compliance with provisions of EDPSC

Others

  • Analysis in relation to basis of capitalization of OPEX
  • Support to Reporting Section Head in Risk assessment and reporting
  • Scenario based analysis of revenues and forecast based on different prices based on data to be provided by Treasury and Planning
  • Responding to queries and information requests by Internal Audit
  • Support in annual departmental and corporate budget preparation
  • Provision of information to respond to BoC letters
  • Provision for information to Insurance Team for renewal of Insurance
  • Support in preparation of scenario-based analysis including for consideration of lifting etc. to analyze the achievement of Corporate Budget Targets
  • Maintain a close coordination with audit team, will be focal person for audit from Reporting section
  • Focal point for maintaining audit database
  • Preparation of finance related policies and procedures as and when required
  • Preparation and submission of information /reconciliations as and when required

Policies, Systems, Processes and Procedures

  • Contribute to the identification of opportunities for the continuous improvement of systems, processes and practices to increase productivity and operational efficiency
  • Implement all relevant policies, processes, procedures and instructions so that work is carried out in a controlled and consistent manner

Health, Security, Safety and Environment

Follow all relevant company's health, security, safety and environmental policies, processes, procedures and instructions to ensure Health and Safety compliance in all aspects of work by applying them on self, others and corporate assets

Internal:

  • Division Heads, Managers, Budget Holders, User Dept.
  • Legal
  • Contracts, Procurement & Logistics
  • AP and Treasury Function

External:

  • Vendors
  • Statutory auditors, Joint Venture partner auditors, Internal auditors & BOC auditors etc.
  • Bankers
  • Tax and other financial consultants

Minimum Qualifications:

  • Fully qualified accountant (CA/ACCA/CPA/CMA or equivalent) and
  • Bachelor's in Accounting or Finance

Minimum Experience:

  • Over all 3-5 years of experience
  • 2-3 years of experience in the upstream Oil & Gas financial operations preferred

Job-Specific Skills:

  • Advanced excel financial analysis skills,
  • Knowledge and understanding of Asset's financial policies and regulations
  • Good working knowledge of E&P accounting, IFRS, external statutory audit, JV partner audits
  • Good working knowledge of indirect taxes including withholding taxes
  • Effective interpersonal, verbal, and written communication skills
  • Good analytical capabilities and problem-solving skills
  • Knowledge and understanding of local regulatory policies

 

*Only applicants meeting the strict criteria outlined above will be contacted as part of the shortlisting process.