Upstream Financial Reporting Accountant IFRS

2 weeks ago

London, United Kingdom aramco Full time

Position Description

We are currently seeking an experienced qualified accountant to join our Upstream Segment Financial Reporting & Compliance team 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 Upstream Finance, responsible for ensuring that segment results are prepared in a timely and world-class manner, as can be expected from the largest company in the world.

You will be accountable for preparation and submission of segment level financial reports, insights and notes to senior management, and ensure robust controls over financial reporting processes.

As you will be over seeing 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 good exposure to senior management as well as the opportunity to get involved in wide ranging financial activities associated with long-term planning, investment decisions, price negotiations and the like.

Therefore, we are not only looking for individuals who can meet our expectations but those individuals who can exceed them.

Overall, this is a fantastic, and high profile, role that will allow the successful applicant market leading career opportunities.

Saudi Aramco is an IFRS (International Financial Reporting Standards) company.

Minimum Requirements

  • A Bachelor’s degree in a Business or Finance discipline.
  • Accounting professional designation (ACCA, CPA, CMA, CIMA, CA, or equivalent).
  • 12 years of experience in the Finance and reporting related activities. Preferably, 5+ years of this experience will be in the Oil & Gas value chain.
  • Previous experience in implementing financial controls.
  • Solid understanding of IFRS in relation to Oil & Gas
  • Previous experience in delivering presentations to C-Suite
  • 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: well accounting, 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

The successful candidate will perform a broad spectrum of financial accounting activities, ensuring that Upstream’ s financial accounts are prepared in a timely and world-class manner.

  • Participate in the consolidation and reconciliation of financial figures reported to executive management to finalize the segment 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 Upstream Finance community advice on technical accounting issues
  • Works closely with business & functional SMEs to perform decision support analysis on both internal (e.g. transfer pricing) and external commercial arrangements together with respective accounting assessments;
  • Closely monitors commercial operations to maximize value creation and prevent value loss.
  • Identify and implement preventative and detective controls on key financial processes
  • Establish and maintain reconciliation controls on balance sheet accounts
  • Maintain Upstream internal reference material related to accounting & compliance
  • Implement and oversee transfer pricing and cost allocation policies in the Upstream area
  • Coordinate, maintain, and resolve outstanding audit exceptions for both internal and external auditing

About Us

Saudi Aramco is the world’s largest integrated oil & gas company producing one in every eight barrels of crude oil globally. In 2018, the Company produced 13.6 million barrels per day of oil equivalent, including 10.3 million barrels per day of crude oil (including blended condensate).

Upstream segment’s activities consist of exploring, developing and producing crude oil, condensate, natural gas and NGLs. We manage the Kingdom’s unique reserves and resources base to optimize production and maximize long-term value.

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