Project Accountant

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

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.

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

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.