Project Accountant - Oil and Gas Pipeline Project at Iteka Integrated Services Limited (IISL)

Position Overview

• We are seeking a skilled and detail-oriented Project Accountantto 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 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.