Project Accountant at International Energy Services Limited (IESL)

Job Title: Project Accountant – Oil and Gas Pipeline Project

Position Overview

• We are seeking a skilled and detail-oriented Project Accountant to join our team working on a major oil and gas pipeline project.
• This role will provide comprehensive financial support throughout the project lifecycle, ensuring accurate financial tracking, budgeting, reporting, and compliance with industry regulations.
• The ideal candidate will have experience in project accounting within the oil and gas sector, particularly with large-scale infrastructure projects such as pipeline development.

Key Responsibilities
Project Budgeting & Financial Planning:

• Assist in the development and management of project budgets, ensuring they align with the scope, timelines, and contractual agreements.
• Monitor and control project costs, providing recommendations to mitigate risks and prevent cost overruns.
• Work closely with project managers, engineers, and procurement teams to forecast financial needs and track spending.

Cost Control & Reporting:

• Track and report on project expenditures, ensuring accurate coding of all costs to the appropriate project accounts.
• Prepare and review cost reports on a regular basis, identifying discrepancies, and ensuring they are resolved in a timely manner.
• Manage invoicing processes, including validation of vendor invoices against contract terms and project milestones.

Contract Management & Compliance:

• Ensure compliance with contractual terms, industry standards, and local regulations.
• Review and process contractual changes (variations) in collaboration with project managers, ensuring financial records are updated accurately.
• Maintain detailed financial records of all project-related transactions.

Cash Flow Management:

• Forecast and monitor project cash flow requirements, including managing the timely release of payments to vendors, subcontractors, and suppliers.
• Reconcile accounts to ensure sufficient funds are available for project expenses and resolve any discrepancies in cash flow management.

Financial Reporting & Analysis:

• Prepare and submit periodic project financial reports to senior management, stakeholders, and clients.
• Analyze project financial data and provide recommendations to optimize resource allocation and ensure financial targets are met.
• Participate in regular project review meetings and present financial insights.

Audit & Documentation:

• Maintain project-related financial records and documentation, ensuring they are compliant with company policies, accounting standards, and regulatory requirements.
• Coordinate with external auditors during audits and ensure timely preparation of required documentation.

Stakeholder Communication & Support:

• Work with both internal and external stakeholders to provide accurate financial data and support decision-making.
• Assist in resolving any financial queries or disputes related to the project, working collaboratively with project teams, vendors, and contractors.

Qualifications & Requirements
Education:

• Bachelor’s Degree in Accounting, Finance, Business Administration, or a related field.
• Professional certification (e.g., CPA, ACCA, CMA) is a plus.

Experience:

• Minimum of 5 years of experience in project accounting, with at least 2-3 years in the oil and gas sector, particularly in pipeline or infrastructure projects.
• Strong knowledge of cost control, budgeting, and financial reporting within large, multi-million-dollar projects.
• Experience with project management software (e.g., Primavera, SAP, Procore) is preferred.

Skills:

• Advanced proficiency in Microsoft Excel and other financial software.
• Excellent organizational and time management skills.
• Strong analytical and problem-solving abilities.
• Effective communication skills, with the ability to work in a cross-functional team environment.
• Knowledge of oil and gas industry financial standards, regulations, and compliance requirements.

Personal Attributes:

• High attention to detail and accuracy.
• Ability to work under pressure and meet tight deadlines.
• Strong interpersonal skills and ability to build relationships with various stakeholders.
• Self-motivated, proactive, and able to take initiative.

Desirable:

• Experience with large-scale pipeline construction and infrastructure projects is highly desirable.
• Familiarity with international financial reporting standards (IFRS) and industry-specific regulations in the oil and gas sector.

Work Conditions:

• The position may require occasional travel to project sites.
• Ability to work in a fast-paced, dynamic environment with multiple competing priorities.
• This role offers an excellent opportunity to play a critical role in the financial success of a major oil and gas pipeline project, contributing to the overall project delivery while ensuring financial discipline and transparency.

Application Instructions:

The application deadline is 20th February, 2025. Therefore, qualified and interested candidates should send their CV in MS Word to:  [email protected] using the Job Title as the subject of the mail. It is important to visit the official website (link found below) for detailed information on how to apply successfully for this vacancy

Website:
Official Job Website: https://ieslglobal.com/careers/