Accounting Manager (oil And Gas)
Dammam, Saudi Arabia
Job Description
NOTE: Please only apply if you have sufficient experience and skills required as per job description below. Job Summary.
Responsible for managing and supervising the overall accounting process of the applicable Ledgers and ensures procedures are in conformity with generally accepted accounting principles, government regulations and laws. Overall finance management through Controlling, Recording and Reporting: Assist in revenue and cost optimization strategies, ensure timely preparation of monthly financials and MIS. Ensure accuracy and completeness of accounting records in conformity to IFRS and other regulatory requirements. Bring proper Governance and efficiency for GL Accounting and Inventory Management for applicable Ledgers within Business Unit. Key focus will be to ensure proper accounting and financial recording of inventory and GL related transactions in line with applicable GAAP. Working closely with Operations the role will support process automation.
RESPONSIBILITIES:
EXPERIENCE/EDUCATION REQUIRED:
(Education/No. of Years of Experience) Essential:
Responsible for managing and supervising the overall accounting process of the applicable Ledgers and ensures procedures are in conformity with generally accepted accounting principles, government regulations and laws. Overall finance management through Controlling, Recording and Reporting: Assist in revenue and cost optimization strategies, ensure timely preparation of monthly financials and MIS. Ensure accuracy and completeness of accounting records in conformity to IFRS and other regulatory requirements. Bring proper Governance and efficiency for GL Accounting and Inventory Management for applicable Ledgers within Business Unit. Key focus will be to ensure proper accounting and financial recording of inventory and GL related transactions in line with applicable GAAP. Working closely with Operations the role will support process automation.
RESPONSIBILITIES:
- Supervises the processing of all financial transactions and ensures accuracy of pertinent reports and analyzes and determines causes of variances in cost and management accounts.
- Handle full spectrum of financial and cost accounting roles (AP, AR, GL, Forecasting, Budgeting).
- Responsible for day-to-day finance and accounts operation.
- Perform full set of accounts and ensure timely closing of accounts.
- Ensuring that all intercompany cost allocations are in line with management agreements and transfer pricing policy
- Develop and maintain internal control and effective accounting system and policies.
- Consolidates, prepares and submit a monthly/quarterly financial statement (cash flows, balance sheet, income statements) to the Finance Controller.
- Ensures efficient collection of receivables from customers through consistent coordination with concerned parties and facilitates cost-effective disbursement of funds through proper monitoring of cash position.
- Coordinates with external auditors and ensures reliable review of financial transactions and existing accounting system.
- Coordinates with other departments pertaining to the conduct of periodic inventory count and stock control.
- Review existing accounting processes and operating standards and recommend changes if needed to the Finance Manager.
- Review and recommend policies and procedures that directly influence financial transactions, inventory costing and management of accounting systems.
- Prepare workings for Non-standard entries including clean up entries and reclasses due to error
- Overseeing the close of AP, AR & Cost module
- Prepare control sheet for project accounts GL vs SL project wise
- Prepare Bank recon entries and ensure its reconciled
- Review and suggest further actions required for clearing AP & GRNI
- Review TB for irregular balances, wrong entries, comparing to previous periods to identify material gaps and suggestion of correcting or missing entries and posting/approving those entries
- Review and oversee the IC reconciliations by investigating differences in reported balances including mark up. Co-ordinating with other IC partners to ensure the out of balances are fixed and correct entries are recorded on our end and the IC counterpart end
- Loading TB in HFM, running P&L and BS reports
- Analyzing and providing comments for BS review
- Provide Unbilled & Unapplied report to Corporate & Central AR team
- Prepare and submit webforms by checking the reports in its entirety
- Ensure SOX Compliance , sales cut off tests and Revenue assurance, P&L analysis, ensure SOD risks are mitigated and reported and ensure compliance in all aspects
- Fixing issues with IT including issues arising of closing, revaluation, SOD access removals and various other issues
- Preparing monthly SGA analysis and ensure all anomalies are verified and reported correctly
- Taking lead in both external and internal audits as prime contact
- Perform VAT filling quarterly and VAT refunds as they are available
- Support OPS for various queries
- Prepare Journal entries, balance sheet reconciliations including bank reconciliations and review cash forecasts and other issues as they arise and Prepare bi-monthly Cash forecast
- Verifying all entries relating to inventory and ensuring its correct classification
- Proficient in inventory costing, Mark up eliminations and inventory transactions,
- Ensure proper accounting for inventory and Markup Elimination Monthly reports and dash boards to review Gross and Net inventory, Provision, and movements to bring focus and reduce cash tied in inventory.
- Improved governance around Inventory count controls and increase frequency
- Other ad-hoc assignments as agreed with BU Controller
- Must be detail-oriented and highly organized
- Excellent collaboration, teamwork, and interpersonal skills
- Advanced knowledge of MS Word, Excel and PowerPoint required
- Knowledge of MS Project and other project management tools a plus
- Strong presentation skills and ability to create presentations. Ability to create process flow diagrams in Visio or other software applications as needed
- Must embrace change and have a proven track record of process redesign
- Excellent written and verbal communication skills
- Effective time management and organizational skills
- Ability to work in a fast-paced, team environment and under pressure of deadlines
EXPERIENCE/EDUCATION REQUIRED:
(Education/No. of Years of Experience) Essential:
- Qualified Accountant/ CA/ACCA/CMA or MCom/MBA
- 7+ experience post qualification
- US GAAP
- Major ERP (Oracle, JDE etc)
- HFM
- Advanced excel Skills
- Aware of Datawarehouse and Workforce Management Tools
- 9+ experience post qualification
- Oil and Gas industry experience
- Process Automation
- Visio or other similar software
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Throughout every region in the world and across every area of drilling and production, our family of companies has provided the technical expertise, advanced equipment, and operational support necessary for success—now and in the future.
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We are a global family of thousands of individuals, working as one team to create a lasting impact for ourselves, our customers, and the communities where we live and work.
Purposeful Innovation
Through purposeful business innovation, product creation, and service delivery, we are driven to power the industry that powers the world better.
Service Above All
This drives us to anticipate our customers’ needs and work with them to deliver the finest products and services on time and on budget.
We Power the Industry that Powers the World
Throughout every region in the world and across every area of drilling and production, our family of companies has provided the technical expertise, advanced equipment, and operational support necessary for success—now and in the future.
Global Family
We are a global family of thousands of individuals, working as one team to create a lasting impact for ourselves, our customers, and the communities where we live and work.
Purposeful Innovation
Through purposeful business innovation, product creation, and service delivery, we are driven to power the industry that powers the world better.
Service Above All
This drives us to anticipate our customers’ needs and work with them to deliver the finest products and services on time and on budget.
Completion & Production Solutions
Through NOV Completion & Production Solutions, we serve well intervention service providers and oil and gas producers, and we pursue opportunities around hydraulic fracture stimulation, wellbore intervention equipment, composite tubulars, pumps, floating production systems, and subsea production technologies. Our integrated approach delivers greater certainty, reliability, and peace of mind.
Through NOV Completion & Production Solutions, we serve well intervention service providers and oil and gas producers, and we pursue opportunities around hydraulic fracture stimulation, wellbore intervention equipment, composite tubulars, pumps, floating production systems, and subsea production technologies. Our integrated approach delivers greater certainty, reliability, and peace of mind.
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Job Detail
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Job IdJD1424581
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IndustryNot mentioned
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Total Positions1
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Job Type:Full Time
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Salary:Not mentioned
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Employment StatusPermanent
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Job LocationDammam, Saudi Arabia
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EducationNot mentioned