Project Accountant at Ralds & Agate

Job Summary

• The Project Accountant is responsible for managing and monitoring the financial aspects of projects within the company, ensuring accurate budgeting, cost control, and financial reporting. 
• The role involves working closely with project managers, finance teams, and external stakeholders to provide financial oversight and ensure projects are completed within budget. 
• The Project Accountant ensures that all financial transactions related to projects are recorded, analyzed, and reported accurately to support decision-making and maintain financial discipline.

Responsibilities

• Develop, monitor, and manage project budgets, ensuring alignment with corporate financial goals and accurate forecasting of costs and revenues.
• Track project expenditures, ensuring they are within the approved budget and that any variances are identified and investigated. Implement cost-control measures to optimize project efficiency.
• Prepare and present regular financial reports, including budget performance, cost analysis, cash flow forecasts, and variance reports to project stakeholders and senior management.
• Ensure that all project costs are allocated correctly across various cost centers and projects, using appropriate accounting methods and standards.
• Collaborate with the procurement team to ensure that all project-related purchases are recorded accurately and that invoices are processed on time.
• Ensure that all project costs are allocated correctly across various cost centers and projects, using appropriate accounting methods and standards.
• Manage accurate and timely recognition of project revenues by standards.
• Track and report on capital expenditures (CAPEX) associated with projects, ensuring that CAPEX is within approved limits and accurately reflected in financial statements.
• Assist project managers in preparing cost estimates for new projects or project extensions, ensuring that estimates are realistic and based on sound financial principles.
• Monitor the cash flow of projects, ensuring that sufficient liquidity is maintained to meet project obligations, and provide timely cash flow forecasts to senior management.
• Conduct financial analysis and perform scenario planning to assess the potential impact of project decisions and recommend solutions to improve project financial performance.
• Ensure proper accounting and financial management of joint venture (JV) projects, including cost recovery and partner reporting.
• Coordinate with internal and external auditors to ensure that all project-related financial activities comply with internal controls, governance frameworks, and industry regulations.

Requirements

• Bachelor’s Degree in finance, Accounting, Economics, Statistics or a related field.
• Possession of a relevant professional certification – ICAN, ACCA, or equivalent is an added advantage.
• Minimum of 5 years of experience in project accounting, financial planning, budgeting, preferably in an upstream oil and gas company.

Skills:

• Strong understanding of financial principles, including budgeting, forecasting, variance analysis, and cost control.
• Familiarity with the upstream oil & gas industry, including experience managing financial aspects of capital-intensive projects.
• Experience with joint venture accounting, cost recovery, and financial management in oil & gas operations.
• •Demonstrated ability to manage project costs, implement cost-saving measures, and track budget performance.
• Proficiency in the use of financial modeling and analysis tools.
• Strong analytical skills with the ability to conduct detailed financial analysis, identify variances, and provide insights into cost drivers and potential improvements.
• Strong ethical principles and commitment to maintaining financial transparency and integrity.
• Knowledge of accounting standards. – GAAP, IFRS, etc.