The posting
Position Description:
We are seeking an experienced qualified accountant to join Downstream Finance, and Performance Management Department (DSF&PMD) focusing on Segment Financial Reporting & Compliance activities for the Downstream Segment based in Dhahran, Saudi Arabia. The successful candidate will be part of the segment level team that handles accounting, compliance (IFRS) and assurance over segment financials reported both internally and externally. It is a critical team within Downstream Finance, responsible for ensuring that segment results are prepared in a timely, accurately and world-class manner, as can be expected from one of the largest companies in the world. You will be accountable for preparation and submission of segment level financial reports, insights, review of all the overall segments and business units financials statements (focusing on P&L and Balance Sheet) and notes to senior management, while ensuring robust controls over financial reporting processes. As you will be overseeing segment level financials and associated processes, you are required to exhibit strong interpersonal skills, as you are dealing with multiple stakeholders, initiate and lead segment wide process improvement opportunities, and promote consistent application of group policy. The role provides exposure to senior management as well as the opportunity to get involved in wide ranging financial activities associated with business planning, monthly and quarterly reporting, long-term planning, investment decisions, price and tariff development and negotiations.Overall, this is a fantastic, and high profile, role that will allow the successful applicant market leading career opportunities.
Location: Dhahran, Saudi Arabia (must be willing to relocate)
Minimum Requirements:
- A Bachelors degree in a Business or Finance discipline.
- Accounting / Finance professional designation (ACCA, CPA, CMA, CIMA, CA, CFA, or equivalent).
- 12 years of experience in the Finance and reporting related activities. Preferably, 5+ years of this experience will be in the Downstream.
- Previous experience in implementing financial controls.
- Solid understanding of IFRS in relation to Oil & Gas
- Ability to work with incomplete data and drive conclusions and recommendations to senior management
- Working knowledge of SAP Finance Modules.
- In depth knowledge in one or more of the following areas: trade accounting, impairment, asset accounting, cost reallocations, revenue accounting, transfer pricing, financial consolidation and group reporting requirements
- Strong modelling experience would be considered an asset as it allows you to be active in an even broader suite of responsibilities
Duties & Responsibilities:
- Assists in budget development cycles. Set, monitor and allocate budgets in coordination with the business and Finance.
- Participate in the consolidation and reconciliation of financial figures reported to executive management to finalize the business line financial reports at both actual and planning events
- Prepare monthly and quarterly financial statement analytical review at business unit level
- Ensure timely and accurate recognition of provisions relating to environmental remediation, legal and asset retirement obligations
- Provide Downstream Finance community advice on technical accounting issues
- Identify and implement preventative and detective controls on key financial processes
- Establish and maintain reconciliation controls on balance sheet accounts
- Implement and oversee transfer pricing and cost allocation policies in the Downstream area
- Coordinate, maintain, and resolve outstanding audit exceptions for both internal and external auditing
- Coordinate with various internal company financial stakeholders and compliance such as Treasury, Accounting Policy, Tax, Pricing, Financial Accounting, External Reporting, Enterprise Risk, Audit, and Affiliates Support for the DS business. Ensure facilitation of Downstream objectives through these stakeholders
- Oversee the implementation of cost-effective internal controls for results-oriented management; assess the adequacy of DS internal controls; identify needed improvements and take corresponding corrective action; and report annually on the internal controls through management assurance statements.
- Develop product and regional segment financial statements.
- Support the performance management team in key deliverables such as business planning, monthly and quarterly business reviews and forecasting our financial results. Also, exploiting optimization opportunity, building business case and support in implementing such opportunity. Support business development activities ranging from capital projects to upgrades.
- Support business systems architecture and ERP for financial functions initiatives.
- Develop and/or review financial models (mainly in relations to the impairment testing, tariffs, and tax related activities)
