(Global Oil & Gas) Accounting Staff Specialist

This role required candidate to permanently relocate at Dhahran, Saudi Arabia.

Job Title: Actg Staff Specialist

About the Company


This company engages in the exploration, production, transportation, and sale of crude oil and natural gas. It operates through the following segments: Upstream, Downstream, and Corporate. The Upstream segment includes crude oil, natural gas and natural gas liquids exploration, field development, and production. The Downstream segment focuses on refining, logistics, power generation, and the marketing of crude oil, petroleum and petrochemical products, and related services to international and domestic customers. The Corporate segment offers supporting services including human resources, finance, and information technology. The company was founded on May 29, 1933 and is headquartered in Dhahran, Saudi Arabia.

Job Summary

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. This Company is an IFRS (International Financial Reporting Standards) company.

Responsibilities:

• Provide Downstream Finance community advice on technical accounting issues.
• 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.
• Develop product and regional segment financial statements.
• Assist in budget development cycles. Set, monitor and allocate budgets in coordination with the business and Finance.
• Establish and maintain reconciliation controls on balance sheet accounts.
• Implement and oversee transfer pricing and cost allocation policies in the Downstream area.
• Develop and/or review financial models (mainly in relations to the impairment testing, tariffs, and tax-related activities).
• 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.
• 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.
• 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 a business case, and support in implementing such opportunity. Support business development activities ranging from capital projects to upgrades.
• Prepare monthly and quarterly financial statement analytical review at business unit level.
• Identify and implement preventative and detective controls on key financial processes.
• Coordinate, maintain, and resolve outstanding audit exceptions for both internal and external auditing.
• Support business systems architecture and ERP for financial functions initiatives.
• Ensure timely and accurate recognition of provisions relating to environmental remediation, legal and asset retirement obligations.

Requirements:

• 12 years of experience in the Finance and reporting related activities. Preferably, 5+ years of this experience will be in the Downstream.
• Strong modeling experience would be considered an asset as it allows you to be active in an even broader suite of responsibilities.
• 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.
• A Bachelor's degree in a Business or Finance discipline.
• Working knowledge of SAP Finance Modules.
• Previous experience in implementing financial controls.
• This role required candidate to permanently relocate at Dhahran, Saudi Arabia.
• Solid understanding of IFRS in relation to Oil & Gas.
• Ability to work with incomplete data and drive conclusions and recommendations to senior management.
• Accounting/Finance professional designation (ACCA, CPA, CMA, CIMA, CA, CFA, or equivalent).