Section Head Accounts Payable

Posted 11 months ago by MSELECT
Location Basrah Job Type
Salary Sector Oil & Gas

MSELECT is looking to hire a Section Head Accounts Payable for an international oil and gas operator in Basra. Candidates must have 8-10 years of accounting experience within the Oil and Gas industry and be fluent in English.


To supervise the activities of financial accounting including Accounts Payable and monthly financial close. To maintain books of accounts, preparation of financial statements and the maintenance of established accounting systems for general ledger, accounts payable and provision of cost allocation and cost expenditure analysis.


People Management

  • Supervise the activities and work performed by Accounts Payable to ensure that it is carried out in an efficient and effective manner, with due internal control and policy and procedure compliance. To recommend improvements in related policy, process and procedure and reporting
  • To develop and train staff and recommend suitable training and development interventions for team members to build their skills, knowledge and capabilities

Accounting Supervision

  • Supervise accounting for the assigned asset, for all matters related to invoicing of vendors, to ensure accounts are cleared as per schedule and valid invoices processed for payment on a timely basis according to agreed payment terms
  • Ensure all invoices are reviewed and are accompanied with respective supporting documents to ensure validity of the invoices.
  • Prepare ad hoc accounts payable reports and data for Management as requested
  • Oversee follow up with defaulting vendors and clear due payments, to ensure that the operations are not impacted
  • Maintain close coordination with vendors to address any invoice related issues in a timely manner
  • Ensure accounting records are being properly stored in both hard and soft copies. Ensure filing is as per best industry practices and in line with the requirements of applicable agreements

Cost Control and Monitoring

  • Ensure that cost allocation is carried out as per the established policies and cost allocation methodology to ensure expenses are allocated to the respective cost centres
  • Compare actual cost with cost recorded in the accounting system and also with the asset budget, monitor and analyze the comparison results to enable cost control and monitoring
  • Prepare monthly working capital balance sheet reconciliations with appropriate supporting documents

Operational Accounting

  • Ensure collection of Accounts Payable (employees and vendors) data and timely input into the financial system in order to produce the financial statements such as Expenditures, Balance Sheet and Allocation of costs, timely and accurately. Monthly accrued costs and VOWD analysis.
  • Ensure the accounting and maintenance of records is in accordance with established cost recovery principles as per applicable regulations in Iraq and Industry best practices
  • Monthly reconciliation of invoices / payables with vendor’s statement of accounts

Financial Statements

  • Assist in the timely preparation per approved timetable, of monthly, quarterly and annual financial statements e.g. Expenditures, Balance Sheet for the assigned assets to ensure that accurate information is provided to management for decision-making in line with E&P accounting, IFRS reporting standards and terms of GDPSC


  • Supervise the preparation of a wide variety of monthly, quarterly and annual accounting statements and reports with supporting schedules as stipulated in the stipulated agreements
  • Policies, Systems, Processes and Procedures
  • Contribute to the identification of opportunities for the continuous improvement of systems, processes and practices to increase productivity and operational efficiency
  • Implement all relevant policies, processes, procedures and instructions so that work is carried out in a controlled and consistent manner

Health, Security, Safety and Environment

  • Follow all relevant company’s health, security, safety and environmental policies, processes, procedures and instructions to ensure Health and Safety compliance in all aspects of work by applying them on self, others and corporate assets



  • Asset President / General Managers
  • Asset teams
  • Legal
  • Contracts, Procurement & Logistics
  • Commercial
  • Planning & Performance reporting


  • BOC
  • Vendors
  • Statutory auditors, Joint Venture partner auditors, Internal auditors


All matters / issues of significance are to be referred to Finance Manager for further guidance and decision.


Minimum Qualifications:

A degree in Accounting/Finance/Management or ACCA/CIMA or CA/CPA qualification or equivalent

Minimum Experience:

8-10 years of accounting experience within the Oil and Gas industry

Job-Specific Skills:

  • Advanced excel financial analysis skills, attention to detail
  • Knowledge and understanding of Asset’s financial policies and regulations
  • Good working knowledge of E&P accounting, IFRS, external statutory audit, JV partner audits
  • Good working knowledge of indirect taxes incl withholding taxes
  • Working knowledge of ERP systems incl IDEAS, Oracle & SAP preferred
  • Effective interpersonal, verbal and written communication skills
  • Good analytical capabilities and problem-solving skills
  • Knowledge and understanding of local regulatory policies
  • Coaching and development skills


*Only applicants meeting the strict criteria outlined above will be contacted as part of the shortlisting process

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