Finance Manager

Posted over 1 year ago by MSELECT
Location Erbil, Iraq Job Type
Salary Sector Oil & Gas

Finance Manager needed in Erbil for an international oil & gas operator with min 3 years of experience in the same field. Must be fluent in English, Kurdish and Arabic is a plus.

Experience, qualifications and skills

  • University degree in economics, accounting or business administration;
  • ACCA, CPA, CIA, CMA, CIMA qualification would be an asset;
  • Knowledge of and practical experience in bookkeeping and financial reporting, IFRS and specifics of accounting and reporting standards applied in Kurdistan Region – Iraq;
  • Experience in interaction with auditors / experience in audit;
  • 3+ years of experience in financial departments of oil & gas /exploration/ audit companies.
  • Understanding of influence of management decisions on financial statements;
  • Experience in development of methodology documents, procedures/ regulations is a plus;
  • Understanding the economics of the Product Sharing Contracts (PCS) / Work experience with the PSC is a plus.

Principal Accountabilities:

  • Participate in development, implementation and maintenance systems, accounting practices and procedures to ensure accurate and timely finical statements in compliance with  IFRS and applicable local (Kurdistan Region – Iraq) reporting requirements;
  • Interact with outsourcing accounting company who provides accounting and reporting services, creates and submit the branch’s financial statements and tax returns and control the quality of provided services;
  • Supervise the monthly closing process, collect and review source documents with respect to all transactions performed and provide them to the accounting company, resolve accounting discrepancies, identify and explain differences in accounting treatments of costs for IFRS reporting and cost recovery purposes under PSCs, if any;
  • Oversee the quarterly branch’s cost allocation  process through/ according to the upstream service contracts, including invoices and service reports preparation;   
  • Ensure that all recorded transactions fairly represent the economic event that occurred, are lawful, correctly classified and have been executed in accordance with management’s authorization; 
  • Maintain an orderly accounting filing system;
  • Ensure payroll process in a timely manner;
  • Ensure that all required statements and returns, prepared by the accounting company, are submitted to the government, tax authorities as well as to the accounting company who provides accounting and reporting services for company, in a timely manner; 
  • Conduct periodic reconciliations of all accounts and analyse financial statements to ensure their completeness and accuracy;
  • Participate in inventory procedures, inc. physical count of inventory and fixed assets;
  • Assemble information for external auditors for the annual audit and for the audits required by PSCs and interact with them with concerning financial and operational activities and financial statements;
  • Interact with representatives of allied structural units of the branch and head office, inc. in order to ensure necessary requirements to accounting functions, financial statements and other functions;
  • Interact with Treasury Group to ensure that all valid bank and petty cash transactions are included in the accounting records;
  • Participate in contracting of accounting and audit services and control of respective contracts;
  • Recommend, develop, and maintain financial databases, accounting computer software and manual filing systems.

Additional Accountabilities

  • Participate in the preparation of reports and statements under the PSCs (Production Statements, Value of Production and Pricing Statements, Cost Recovery and Share Account Statements, Statements of Expenditures and Receipts, Final End-of-Year Statements, Budget Statements etc.);
  • Interact with representatives of the KRG MNR concerning data included in the statements under PSC to ensure their completeness and accuracy;
  • Reconcile financial statements and management reports, identify deviation and develop corrective actions;
  • Participate in the preparation of the management presentations and other documents on the branch’s activities and petroleum operations under the product sharing contracts as assigned;
  • Participate in review of timesheet information on hours worked by the branch’s employees, verify that the timesheets have been approved by the employee’s supervisors, monitor billable hours to ensure accuracy;
  • Participate in the development and improvement of internal control, compliance and risk management system of the branch in coordination with the structural units of the branch and head office;
  • Provide clerical and administrative support to the branch’s management as requested.

Additional Information

  • Languages: English, Kurdish; Arabic is a plus
  • Location: Erbil
  • Number of supervised entities: 5

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