Job title | Financial Accounting & GL | Grade | |
Stream | Upstream | Function | Finance - Finance Controlling – Financial Accounting & GL |
Location | Oman – Muscat | Budget control | *OPEX and/or CAPEX and/or Revenue amount as relevant* |
Reporting to | Manager Financial Accounting & GL | Direct Reports | - |
Job purpose Executes Financial Accounting & GL activities, under Manager Financial Accounting & GL scope’s acting as team player for Financial accounting services & GL through: (1) Executes non-standard accounting for Upstream Business Unit in monthly, quarterly and annual process for closing the books and consolidating the financial results, (3) Apply the accounting standards for Upstream and apply local GAPP, and (3) Contribute to maintain the Group Accounting Policy Manual; in order to support financial Accounting Operations goals and objectives of the company while ensuring compliance with both local and international accounting standards for all group entities. The position will act in accordance with the Group’s Mission, Vision, Values & Strategies, as well as, policies, guidelines and international standards, supported by an IT Technology platform, HSE standards, Omani’s government & other legal justifications, and best international practices in consonance with national objectives. |
Main tasks and responsibilities Area | Main accountability | Accounts Payable | - Drive and review all activities related to accounts payable to ensure error free and on time payment of all vendor invoices, and true reflection of trade payable position.
| Accounts Receivables | - Drive and review all activities related to accounts receivable to ensure sales revenues are accounted correctly with zero overdue and true reflection of trade receivables position
| Fixed Assets | - Drive and review the creation of asset register to ensure that all transactions related to tangible and intangible assets are captured, classified accurately in line with OQ policies and guidelines, and the fixed asset register reflects true state of affair.
| Capital Work-In-Progress (WIP) | - Ensure appropriate capitalisation of capital WIP after completion of projects so that each asset is classified as per OQ policies and procedures.
| Bank reconciliation | - Support on bank reconciliation process and approve the bank reconciliation statement to ensure that all transactions have been recorded accurately.
| Accounting systems | - Drive the operations and maintain the accounting systems in full compliance with manual of authority and OQ policies, aiming for the most accurate and timely processing of financial information related to accounting services
- Assist in presenting the financial position of the organisation as per the international accounting standards in order to provide a clear picture to Executive Team (ET) and relevant stakeholders.
| General Ledger | - Execute General Ledger Accounting including Accounting Transactions, and Period-end closing, in order to ensure accurate accounting processes and implementation.
- Record information such as accruals, deferrals, reclassifications and interdepartmental entries into accounting ledgers.
- Review the automatic posting made and highlight any discrepancy to the respective teams.
- Review Chart of Accounts in General Ledgers, interpret, and analyse data for accuracy and completion.
- Prepare journal entries, with appropriate supporting documentation, relating to amortization, depreciation, accruals, and a variety of other information. Ensure that entries align with generally accepted accounting principles.
- Reconcile intercompany accounts/transactions.
- Assist in processing period-end adjustment entries (e.g., accruals, currency conversions, etc.)
- Interact with Business Units to collect information for compilation of financial statements in a timely manner.
- Provide relevant documents/requirements and support with external/internal audit.
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Key interactions Internal: Upstream External: specialized Contractors, Vendors & Suppliers |
Notable Working Conditions. Office environment, intensive computer screen use, sporadic visits to operation site. |
Education requirements | - Minimum qualification required is a college graduate degree in Accounting, Administration, with Master or any other qualification is a plus.
- Certified Public Accountant or Certified Management Accountant designations. (ACCA/CTA/CTP)
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Language | Excellent knowledge of written, read, and spoken English (required) |
Background and experience | Competencies and skills |
- 5-8 years of relevant experience
- 5 years’ experience in accounting, knowledge of US GAAP & IFRS
- Oil and Gas / Energy industry experience essential (including upstream and downstream exposure).
- Experience with complex multi-national corporate structures
- Strong experience in:
- Finance, Accounting services & standards,
- Consolidation and Management reporting, (external reporting)
- Successfully led sub-teams of financial reporting & consolidation
- Strong knowledge of US GAAP , SEC and IFRS
- Credit Agencies, Credit Insurance Companies and Banks.
- Direct and indirect Tax.
| Soft: - People’s management skills
- Analytical skills
- Planning skills
- Forward thinking
- Excellent business and technical report writing skills
- Demonstrated success in leading and driving solutions involving multiple layers of management, and multiple simultaneous deliverables
- Thrives when facing ambiguity and complexity; willingness to explore multiple solutions to a problem
- Ability to produce quality materials within tight time frames and simultaneously manage several projects required
- Ability and willingness to quickly adapt in a rapidly changing environment
Technical: - Very good knowledge in using PC software.
- Technical Competencies: Financial Accounting Empowering & developing high performing Teams for a competitive advantage
- Strong knowledge of accounting systems (i.e. SAP), foreign currency and intercompany accounting.
- Finance, Accounting services & standards,
- Consolidation and Management reporting, (external reporting)
- Successfully led sub-teams of financial reporting & consolidation
- Strong knowledge of US GAAP, SEC and IFRS
- Credit Agencies, Credit Insurance Companies and Banks.
- Direct and indirect Tax.
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