Cost Allocation Accountant

Omega AS; Stavanger; On-site; NOK 750,000 - 950,000; Full time

Benefits offered by this job

Omega 365 personalized support

Visa assistance for expat consultants

Professional networking opportunities

Holidays houses and cabins access

Social events and trips

Job summary

Omega AS in Stavanger, Norway, is seeking an experienced Cost Allocation Accountant to join the Financial Accounting & Integrated Reporting department. You will manage monthly M&O cost allocations, maintain SAP allocation models, and support the overhead audit.

The role requires a bachelor’s or master’s degree in accounting or finance, at least five years of relevant experience, and fluency in Norwegian and English. SAP S/4HANA familiarity and strong Excel skills are essential.

Qualifications

• Bachelor’s or Master’s degree in accounting, finance, or a related field.
• Minimum five years of relevant accounting experience.
• Fluency in Norwegian and English, both written and verbal.
• Experience with SAP S/4HANA and a good understanding of relevant SAP modules and system interfaces.

Responsibilities

• Maintain and update allocation models for Manhour and Overhead costs in SAP, including monthly allocation keys.
• Perform the monthly M&O allocation process.
• Record monthly charges and accruals related to M&O costs, ensuring timely and accurate financial reporting.
• Reconcile balance sheet accounts related to payroll, M&O costs, and prepayments.
• Prepare and issue recharge invoices to relevant internal and external stakeholders.
• Maintain master data related to M&O processes, including cost centers and cost objects.
• Analyze costs charged to the M&O allocation pool and assess compliance with Joint Operating Agreements and NOG30 requirements.
• Prepare documentation for and participate in Aker BP’s Overhead Audit.
• Perform financial analyses and support internal controls.
• Identify opportunities to improve, standardize, and digitalize accounting and allocation processes.
• Support other Corporate Accounting activities and ad hoc assignments.

Skills

Microsoft Excel

Analytical thinking

Cross-functional collaboration

Education

Bachelor’s or Master’s degree in accounting or finance

Tools

SAP S/4HANA

SAP modules

Job description

Details

Assignment Description

Client is seeking an experienced consultant to join the Financial Accounting & Integrated Reporting department as a Cost Allocation Accountant.

The role will be responsible for the monthly allocation of Manhour and Overhead (M&O) costs, maintenance of allocation models in SAP, related accounting and reconciliation activities, and preparation for Aker BP’s Overhead Audit. The role will also support other activities and responsibilities within the Corporate Accounting team.

The position is based in Stavanger and requires close collaboration with stakeholders across Finance and other relevant business functions.

• Maintain and update allocation models for Manhour and Overhead (M&O) costs in SAP, including monthly allocation keys
• Perform the monthly M&O allocation process
• Record monthly charges and accruals related to M&O costs, ensuring timely and accurate financial reporting
• Reconcile balance sheet accounts related to payroll, M&O costs, and prepayments
• Prepare and issue recharge invoices to relevant internal and external stakeholders
• Maintain master data related to M&O processes, including the creation and maintenance of cost centers and cost objects used for time registration and allocations
• Analyze costs charged to the M&O allocation pool and assess compliance with applicable Joint Operating Agreements and NOG30 requirements
• Prepare documentation for and participate in Aker BP’s Overhead Audit
• Perform financial analyses and support the execution and documentation of internal controls
• Identify opportunities to improve, standardize, and digitalize accounting and allocation processes
• Support other Corporate Accounting activities and ad hoc assignments as required

Qualifications

• Bachelor’s or Master’s degree in accounting, finance, or a related field
• Strong understanding of accounting principles, balance sheet reconciliations, accruals, and cost allocation
• Proficiency in Microsoft Excel
• Fluency in Norwegian and English, both written and verbal
• Minimum five years of relevant accounting experience
• Experience with SAP S/4HANA and a good understanding of relevant SAP modules and system interfaces
• Experience with payroll accounting and related balance sheet reconciliations is an advantage

Personal Skills

• Strong analytical and problem-solving abilities
• Highly organized, accurate, and detail-oriented
• Proactive in identifying improvements, including digitalization/AI tools
• Effective communicator and collaborative team player with the ability to work cross-functionally
• Flexible and adaptable to dynamic work situations

• Personalized, hands-on support from our dedicated Omega 365 team members
• Collaboration with one of Norway's most prestigious consultant firms
• Guidance from experienced department managers, facilitating the development of your project expertise
• Internal visa assistance and expert advice for EEA/expat consultants
• Excellent opportunities to expand your professional network through project involvement and social gatherings
• Exclusive benefits including access to holiday houses and cabins in picturesque locations such as Hovden, Hemsedal, Geilo, Hafjell, Oppdal, Voss, Vågsli, Sirdal, Gran Canaria, and Thailand
• Diverse offerings of events including concerts and exciting excursion, both in Norway and abroad. We unveil attractive new trips exclusively for our employees every year.