Primary Purpose of the Job
- Overall responsibility of preparing, managing and controlling Department Budget and prepare precise/timely cost reports to the Lead Budget and Cost Control Engineer after constant monitoring the expenditure status in comparison to the approved Budget and represent the department on all financial related matters with Finance Department.
- Responsible for Invoice administration, process and endorsement for timely payment after proper coordination with contract sponsors /engineers.
- Develop, control and monitor the department Capital, Non Routine and Operating budget in conjunction with the department 5-year Business Plan. Assists in developing the financial targets and objectives for the departments 5 -Year
- Plans, Annual Reports, and Corporate Planning input.
- Control the expenditure by systematically ensuring adequate budget allocation and confirm that the right fund centers utilization for all commitments such as Contracts, Materials, and work orders raised by the departments.
- Monitor Departments Expenditure and Budget ensuring that commitments are made in line with approved budgets and the correct account number or Work Breakdown Structure has been used. Revise and rephrased the Budget as required in line with latest project plans, material deliveries and contract execution plans after detailed expenditure analysis.
- Review Capital projects and raise asset capitalization certificates when capital projects have been completed. Maintain departments Fixed and Movable assets register by routinely checking and endorsing department's assets lists.
- Carrie out various ad-hoc exercises and cost reports that are required by management as and when required. Compile Cost Key Performance Indicators and Quarterly Variance Reports to monitor achievements against objectives and targets to ensure that Finance is fully aware on the variances justifications and reasons for audit purposes.
- Administer and review all invoice with the respective contract and endorse invoices for payments to ensure that all payments towards the contractors are in line with the contract clauses and effected timely. Support the contract sponsors (Engineers) to calculate the liquidated damages and financial earned value cost for preparing accruals.
- Maintains & updates in collaboration with the Departments procedures, workflows and Manual of Authority in line with current developments and modern methods and produces periodic suggestions for improvements and strategy changes.
- Liaise with departments to ensure financial control procedures are being applied for contracts owned by the departments. Coordinate and follow-up with Finance on all financial requirements and matters for the departments. Provide information and requirements to all process related financial audits for the departments.
- Develops and recommends new techniques to improve the budgeting and cost control of the department and assists in reviewing life cycle costs for major plant to assess cost efficiencies and value for money.
- Handling the Department petty cash and monitoring the expenditure.
Qualifications / Knowledge / Skills / Experience
- Bachelors' Degree in Engineering Science or Accounting with post graduate certification in Cost Engineering and Systems Analysis.
- 8 years in an Accounting preferably in the oil and gas industry.
Petroplan is a global organisation which specialises in connecting skilled professionals with exceptional contract and permanent career opportunities throughout the oil, gas and energy industry. This has been our focus since Petroplan was formed in 1976.
Our aim isn't to be the largest industry recruitment specialist but rather the best. As such, our recruitment services, contractor management and specialised support is tailored to meet the individual needs of candidates, contractors and clients. Petroplan's local offices across Europe, the Middle East, North America, Asia-Pacific, Africa and Australasia support projects in over forty countries. Our client portfolio includes multi-national corporations, together with niche organisations focusing on a specialist discipline or location.
For more information on how Petroplan can help you, please feel free to visit our About Us page here; https://www.petroplan.com/about/
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