Finance Control Supervisor at Oilserv Limited

Job Summary

This position has the following core responsibilities: Accurate and timely preparation, analysis, and presentation of financial information to internal and external stakeholders. Ensure that financial reports adhere to Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS) and meet the reporting requirements of regulatory bodies and management. The Financial Reporting Accountant will be responsible for managing all financial data and information for preparation of periodic and year-end reports. The role is primarily operational and will include daily review of processes to ensure information/reports generated from SAP are representative of actual transactions.

Job Details

• Manages the period-end closure process and prepare management report.
•  Prepares periodic financial statements required for external reporting. JOB DESCRIPTION OSL/HR/JBD/0001 Oilserv Limited (a member of the Oilserv Group) – Job Description (2023) 
• Monitors and tracks implementation of the approved budgets and generates monthly quality performance reports.
•  Supervise all accounting functions, including accounts payable and receivable, general ledger management, fixed assets, bank reconciliation, inventory management, payroll, tax management, and cost control. 
• Strong working knowledge of Expected Credit Loss (ECL) models, including the General Approach and Simplified Approach under IFRS 9.
•  Expertise in preparing lease schedule in compliance with IFRS 16.
•  Ensure timely reconciliation of all bank statements and oversee journal entries related to treasury accounting. 
• Compute capital allowances, company income tax, deferred tax, value added tax (VAT), and withholding tax (WHT).
•  Good working knowledge of group consolidated financial statements. Conduct monthly valuation of foreign currency transactions and prepare foreign exchange analysis for financial statement reporting. 
• Compute interest on loans and prepare loan movement schedules. 
• Reconcile fixed assets and prepare movement schedules to ensure accurate financial reporting.
•  Oversee inventory reconciliation and valuation in collaboration with the materials management team. 
• Interface with the benefits and compensation team to reconcile and process monthly payroll on SAP. 
• Ensure vendor advance payments are properly closed out, with a solid understanding of the procure-to-pay process. 
• Manages the Park & Post-procedure on SAP for Accounts Payables, Accounts Receivables, General Journals, and Bank Entries.
•  Manages the Accruals checklist to ensure all costs are captured and posted at month-end closure. 
• Performs a variety of accounting tasks including but not limited to preparing journal entries, reconciling income statement & balance sheet accounts, and processing and reconciling interfacing sub-systems to the general ledger.
•  Actively involved in the development of the corporate budget for the company and ensuring the planning process supports the business objectives and support the FC on the annual budget process and review/collate the group wide budget for upload on SAP. 
• Monitors and tracks implementation of the approved budgets and generates monthly performance reports.
•  Ensures that all reporting follows internal procedures and regulations and meets IFRS reporting regulations and guidelines.
•  Scrub the GL, prepares relevant income statement & statement of financial position schedules and PBC while providing active support to the FC during annual statutory audits of the company.

Requirements

• Bachelor’s degree in Accounting
• Professional certification in Accounting ACA
• Minimum of 10years in Finance & Accounting, with at least 5 years in a senior leadership role. 
• Proficiency in Enterprise SAP FICO systems (ERP).