Treasury Accountant

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

MSELECT is looking to hire a Treasury Accountant for an international oil and gas operator in Basra. Candidates must have 4-6 plus years of experience in the upstream Oil & Gas financial operations, with relevant experience of treasury and be fluent in English.



To process all the Treasury related back office operations in order to contribute in the smooth and error-free processing and settlement of payments as well as achieve high efficiency and service quality for the respective area of operation.



Treasury Operations Processing:

  • Reconcile cash flow statements and follow-up on variances, in order to provide support in the identification of potential errors, and secure smooth operation avoiding bottlenecks.
  • Identify and report potential defects/breaches in the operations, in order to contribute to their timely solution and avoidance

Cash Forecasting & Management:

  • Contribute to the development of Cash Management (including foreign exchange) policies and plans and ensure implementation of the same
  • Coordinate the development of the operating and capital plan for Treasury
  • Assist the Head of Finance to forecast and manage the cash position (cash flow), monitoring day-to-day bank balances, determining status of cash receipts and disbursements to ensure adequate fund requirements to meet the current and future requirements

Treasury Operations:

  • Support the Head of Finance to manage the cash flow to ensure adequate funds are available for Company’s general activities and major projects.
  • Assist in managing the Company’s investment and fund’s portfolio in such a way as to maximize returns and ensure safety of investments.
  • Plan for and ensure adequate funding for Company’s projects from domestic depository sources and the inter-bank market at competitive rates.
  • Monitor collections from sales / payments from customers on a regular basis to assess the availability of funds and to ensure the gap between incoming and outgoing funds is within manageable limits
  • Prepare and distribute monthly cash calls based on confirmed planned work programs
  • Arrange approvals & initiate bank transactions
  • Record bank transactions in accounting system
  • Finalize bank reconciliations
  • Prepare weekly, monthly and yearly cash flow & treasury report
  • Prepare monthly bank reconciliations

Relationship Management:

  • Develop and maintain effective business relationships with all relevant external/internal entities such as Government Regulatory Authorities, Financial Institutions, Auditors and all departments with highest standards of business ethics, whilst promptly attending to all critical issues in-order to ensure the services required by the organization are delivered in the most effective manner


  • Assist internal and external auditors in ensuring that audits are completed timely by the year-end through collaborating sufficiently and providing the necessary data

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


  • Develop financial reports for forecasting, trending, and results analysis while ensuring regular report availability for management decision making




  • Regional finance teams
  • Commercial


  • Auditors
  • Banks and financial institutions



The jobholder reports to the Head of Finance and refers and concurs with him on critical issues



Minimum Qualifications:

  • Bachelor's in Accounting or Finance
  • Fully qualified accountant (CPA/CMA/ CFA or equivalent)

Minimum Experience:

  • 4-6 plus years of experience in the upstream Oil & Gas financial operations, with relevant experience of treasury

Job-Specific Skills:

  • Knowledge of back office support for Treasury Operations
  • Ability to collaborate and communicate effectively
  • Good analytical and numerical skills
  • Good understanding and knowledge of IFRS/ GAAP accounting standards specifically related to Oil & Gas activities
  • Experience with banking transactions
  • Data Analysis
  • Financial Accounting
  • Analytical Thinking & Problem Solving
  • Communication Skills
  • Continuous Improvement and Self Development
  • Teamwork


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

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