Joint Venture Accountant

Joint Venture Accountant

Posted 4 days ago by 1751672463

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Negotiable
Inside
Hybrid
Aberdeen, Scotland, United Kingdom
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Accounting Accruals Bank Reconciliations Basic Accounting Functions Budgeting Business Analysis Cost Accounting Device Tracking Software Finance Financial Analysis Financial Data Financial Regulations Joint Venture Accounting Joint Ventures Month-End Closing SAP Applications Sarbanes-Oxley Act (SOX) Compliance Scheduling Stakeholder Management Verification And Validation

Summary: The Joint Venture Accountant role involves managing financial tasks related to Non-Operated/Project Joint Venture Assets for an Oil & Gas Operator in Aberdeen. The position requires strong analytical skills and the ability to build relationships with stakeholders while ensuring compliance with financial regulations. The role is a 12-month PAYE contract, primarily on-site with one day of remote work per week. Candidates should have relevant experience in the Exploration & Production sector and proficiency in SAP.

Key Responsibilities:

  • Act as the finance focal point for Non-Operated/Project JV Assets.
  • Perform business analysis including cost accounting and cost controlling activities.
  • Build strong relationships with Operators for Non-Operated licenses.
  • Provide financial analysis and support for budgets, billings, and reforecasts.
  • Manage year-to-date and full-year revised forecasts with budget holders.
  • Handle all JV related financial tasks including presentations and regulatory reporting.
  • Coordinate monthly Non-Operated/Project JV billings and ensure timely approval and payment.
  • Participate in internal and external audits as required.
  • Calculate month-end accruals for Non-Operated/Project JV assets.
  • Manage AFE approval process and cost tracking for JV Assets.
  • Assist in developing the Joint Venture Accounting Function and standardizing procedures.
  • Maintain account reconciliations and manage outstanding issues in compliance with SOX.
  • Track expenditure against AFE’s and reconcile billings to AFE and Budget/forecast.

Key Skills:

  • Proven track record in a financial position within the Exploration & Production sector.
  • Technical knowledge of Exploration & Production accounting and Standard Operating Procedures.
  • Ability to challenge and review financial data effectively.
  • Strong teamwork and initiative skills.
  • Ability to prioritize and meet monthly deadlines.
  • Proven SAP skills.

Salary (Rate): undetermined

City: Aberdeen

Country: United Kingdom

Working Arrangements: hybrid

IR35 Status: inside IR35

Seniority Level: undetermined

Industry: Other

Detailed Description From Employer:

Our client is currently recruiting for the position of JV Accountant with our Oil & Gas Operator client based in Aberdeen. This is a 12 month PAYE contract based 4 days a week in the Aberdeen offices (One day per week WFH) Candidates should have experience working in an Operator business and supporting in J/V accounting.

Responsibilities:

  • Finance focal point for Non-Operated/Project JV Assets
  • Perform a range of business analysis including cost accounting and cost controlling activities to report on JV Asset performance.
  • Build up strong relationship with Operator for Non Operated licenses, ensuring challenge to JV partners as appropriate.
  • Work closely with the JV Budget holder(s) to provide financial analysis and support in respect of budgets, billings and reforecasts.
  • Responsible for year to date and full year revised forecast, performed with budget holders on a monthly basis, considering latest Operator information.
  • Responsible for all JV related financial tasks such as, but not limited to, financial presentations and attendance at JV committees, JV budget, JV Billings, regulatory reporting etc.
  • Focal point for all finance related questions for the Non- Operated JV Asset
  • Responsible for the validation and coordination of monthly Non Operated / Project JV billings ensuring timely approval and payment, in line with JOA.
  • Participate in internal and external audits when required.
  • Calculate month end accruals for Non- Operated /Project JV assets.
  • Understanding of the financial requirements in JOA’s and associated internal DoA matrix.
  • Manage AFE approval process and cost tracking for JV Asset, ensuring correct accounting treatment
  • Assist in the development of the Joint Venture Accounting Function covering multiple assets – streamlining and standardising procedures wherever appropriate and engaging with other Accountants for knowledge sharing and back-up cover.
  • Maintain account reconciliations assigned to the position according to the agreed schedule and in compliance with SOX requirements and manage to conclusion any outstanding issues.
  • Track expenditure against AFE’s and reconcile billings to AFE and Budget/forecast and challenge Operators/Project Managers when required.

Specific Requirements:

  • Proven track record in a similar financial position in the Exploration &Production sector, with a good understanding of E&P asset performance.
  • Requires technical knowledge of Exploration & Production accounting including Standard Operating Accounting Procedures in order to ensure asset expenditure is fair and equitable, company reimbursement is maximised, and JV audits are successful.
  • Ability challenge and review financial data, highlighting anomalies to budget holders and JV Finance Team.
  • Capable of working on own initiative but also demonstrating great teamwork.
  • Ability to prioritise and work to monthly deadlines.
  • Ensure all deliverables are fulfilled on time and of a high quality.
  • Proven SAP skills essential.
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