Joint Venture Accounting Advisor

Airswift; Scotland; On-site; GBP 60,000 - 80,000; Full time

Job summary

A leading recruitment partner in the energy sector is seeking a Joint Venture Accounting Advisor in London. The role involves managing the Joint Venture Accounting team, ensuring accurate reporting and compliance with JOAs. Ideal candidates will have finance experience in the upstream oil industry and proficiency in SAP. This position emphasizes leadership, analytic skills, and collaboration within cross-functional teams.

Qualifications

• Proven experience in upstream oil industry finance roles.
• Strong understanding of industry dynamics and financial best practices.
• Ability to drive change and implement innovative solutions.
• Previous experience in a similar role within the oil and gas industry is preferred.

Responsibilities

• Manage Joint Venture Accounting Group ensuring accurate reporting.
• Oversee month end close process for the JV Accounting Group.
• Deliver timely information to Joint Venture Partners.
• Maintain JV master data in SAP 4 Hana Public cloud.
• Drive standardisation of processes across the JV asset group.

Skills

Upstream oil industry finance experience

SAP proficiency

Leadership abilities

Analytical and decision-making skills

Communication and interpersonal skills

Change management

Education

Bachelor's degree in Finance, Accounting, Business Administration or related field

MBA or relevant professional certification

Tools

SAP Hana

Job description

JOINT VENTURE ACCOUNTING ADVISOR

Location : London, UK

Recruitment Partner : Airswift

Airswift Recruiter : Ariane Lima

The Joint Venture Accounting Advisor is responsible for managing the Joint Venture Accounting team and ensuring costs are accounted for correctly and charged to JV partners in a timely and efficient manner and in accordance with the relevant JOAs (Joint Operating Agreements). The Joint Venture Accounting group acts as a key focal point for JV partners and is responsible for billings, resolving queries, partner budget approval etc. The individual will also manage the reporting in Gross GBP costs to the COO and asset teams to provide an overview of the operational performance of the assets.

Accountabilities and Responsibilities

• Manage of the Joint Venture Accounting Group ensuring accurate and timely reporting of results at the gross level to the COO
• Oversee the month end close process for the JV Accounting Group to ensure month end deliverables, including billings are achieved in a timely manner
• Deliver accurate and timely information to Joint Venture Partners in line with JOA requirements
• Maintain JV master data in SAP 4 Hana Public cloud (S4HC)
• Drive standardisation of processes and procedures across the JV asset group utilising S4HC and SAP Analytics Cloud (SAC) functionality
• Ensure controls are adhered to and process documentation is regularly reviewed and updated
• Monitor receipt of cash from partners and follows up on late payments
• Manage deliverables required to assist Field Managers and their teams to deliver the annual Work plan and budget, annual partner budgets and quarterly re-forecast submissions
• In conjunction with the Commercial team, monitor changes to transportation, cost share and other commercial agreements relating to joint venture assets. Ensure financial modelling is consistent with the commercial terms of the agreements and that the models are generating complete and accurate outputs
• Attend Partner Operational Coordination Meetings (OCMs) and Technical Coordination Meetings (TCMs) as required, delivering Finance messages and responding to Finance questions
• Lead and coordinate the JV Accounting and Performance Management in delivering monthly presentations to the Asset team on Production, Opex, Capex and Free Cash Flow, as well as the performance against budget / plan and re-forecast. Ensure compliance with the Company’s Capital Governance process and policies in a consistent manner with the processes prescribed in Joint Operating Agreements
• Handle Partner financial audits and ensure claims are kept to a minimum
• Conduct robust review of quarterly key account reconciliations for the JV Accounting team
• Conduct review of AFEs to ensure cost classification and that external partner approval obtained where appropriate
• Create provision of PRT deliverables to the Tax team in support of the 6 monthly PRT returns
• Support the creation of the cost structures, validating the WBS settlement rules for the fixed assets module
• Develop and foster close working relationship with the wider company Resources UK ERA, Tax, Treasury, Commercial and Planning and Performance teams.

Professional Skills and Experiences

• Proven experience in upstream oil industry finance roles, with a strong understanding of industry dynamics and financial best practices.
• Proficiency in SAP, preferably SAP Hana, or similar ERP systems, with the ability to utilize financial data and reporting tools effectively.
• Demonstrated leadership abilities, with a track record of driving results and fostering collaboration in a team environment.
• Strong analytical and decision-making skills, with the ability to interpret financial data and provide strategic insights and recommendations.
• Excellent communication and interpersonal skills, with the ability to engage and influence stakeholders at all levels of the organization.
• Ability to drive change and continual improvement, challenging the status quo and implementing innovative solutions to enhance operational and financial performance.
• Bachelor's degree in Finance, Accounting, Business Administration, or related field; MBA or relevant professional certification preferred
• Ability to work independently with minimal supervision and embrace change for continuous improvement.
• Prior experience of working in a similar role within the oil and gas industry is preferred.
• Bachelor's degree in business administration, human resources, or a related field.
• Certified Administrative Professional (CAP) certification preferred.