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Controller

Posted 5 months ago by MSELECT
Location Erbil, Iraq Job Type
Salary Sector Oil & Gas

Controller is required for an international oil & gas operator. Minimum 3 years’ of experience in accounting and finance to be based in Erbil with fluency in English and Kurdish.

 

Accounting and Reporting related to the petroleum operations under the product sharing contracts (PSCs)

Experience, qualifications and skills

  • University degree in economics, accounting or business administration;
  • ACCA, CPA, CIA, CMA, CIMA qualification would be an asset;
  • Knowledge of finance, accounting, budgeting and cost control principles including General Accepted Accounting Principles (US GAAP or IFRS)
  • Knowledge of and practical experience in financial reporting under standards applied in Kurdistan Region – Iraq is a plus;
  • 3+ years of in-depth accounting experience in financial departments of oil & gas /exploration/ audit companies;
  • Understanding of influence of management decisions on financial statements, ability to analyze data and draft operational reports;
  • Understanding the economics of the Product Sharing Contracts (PCS), work experience with the PSC;
  • Must have advanced Excel skills;
  • Excellent attention to detail, ability to multitask.

Principal Accountabilities:

  • Prepare reports and statements as required by 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.) and submit them to the Government in a timely manner;
  • Interact with representatives of the Government concerning data included in the statements under PSC to ensure their completeness and accuracy;
  • Review recoverable and non-recoverable costs for the accounting and reporting purposes in accordance with PSCs;
  • Ensure expenditure control, calculate revenue and expenditure variances from the budget and explain and report variances to management, analyse trends and recommend appropriate budget/ forecast levels;
  • Conduct periodic reconciliations of regular statements relating to the petroleum operations under the PSAs and budget/ accounting records/ financial statements, identify deviation and develop corrective actions;
  • Assemble information for external auditors for the annual audit and for the audits required by PSCs and interact with them in completing audits;
  • Participate in the preparation of the management presentations and other documents on the petroleum operations under the product sharing contracts as assigned;
  • Participate in the development and improvement of accounting policies, methodology and procedures/ regulations in accounting processes, identify and explain differences in accounting treatments of costs for IFRS reporting and cost recovery purposes;
  • Interact with representatives of allied structural units of the branch and head office, inc. in order to ensure that all appropriate transactions are included in the respective statements in a timely manner;
  • Interact with outsourcing accounting company who provides accounting and reporting services with respect to PSC reporting.

Additional Accountabilities

  • Review 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 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;
  • Supervise the monthly closing process, collect and review source documents with respect to all transactions performed and provide them to the accounting company;
  • Participate in inventory procedures, inc. physical count of inventory and fixed assets;
  • Recommend, develop, and maintain databases, computer management accounting software systems and manual filing systems;
  • Participate in contracting of accounting and audit services and control of respective contracts;
  • 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
  • Other duties as requested.

Additional Information

  • Languages: English;  Kurdish 
  • Location: Erbil
  • Number of supervised entities: 5

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