Accounting and Reporting Sr. Specialist
Joint Venture- Accounting and Reporting Sr Specialist
Joint Venture Accounting (JVA) in Finance Operations performs the end-to-end Joint Venture Accounting activity for RDS Operated and non-operated Upstream/Integrated Gas activities. The team, which is part of the RUIG Organisation, operates from SBO Manila and manages cash calls, joint interest billing to Joint Venture partners as well as runs month-end jobs and publishes reports for key stakeholders.
This role is responsible for ensuring a robust risk based E2E framework for Upstream Joint Venture Accounting (JVA) US Deepwater and Exploration (DWE) for Shell Operated and Non- Operated JV assets and act as deputy to manage the core JV activities. Primary responsibilities of the Sr. Specialist includes the following:
- Ensure cash calls are within the approved budget and appropriately booked in the rightful cost element,
- Ensuring that cash calls are received and paid within agreed terms,
- Complete, quality and timely joint interest billing and other required reports provided to JV partners and key stakeholders,
- Accurate recording of non-operated venture account balances,
- Accurate and timely postings of manual journal entries and ensure approval within MOA, if applicable
- Analyze and address aging of account reconciliation balance.
- Drives discussion with key stakeholders on the monthly operations of the assets.
- Work closely with R&A to understand E2E process and bring transparency around value opportunities
- Able to work with multiple feeder processes and ensure seamless processing
- Drives continuous improvement initiatives within the process and guide the team in E2E process
- Support and guide digitalization and automation projects wherever applicable
This position is responsible in overseeing Joint Venture partner’s accounts receivable and recoups Shell cash spent as operator in a Joint Operating Venture. The account scope is for Upstream Americas Deepwater, Exploration and Other Receivables.
The Sr.Specialist must be familiar with all aspects of joint venture accounting and understand the various issues impacting the industry. The Sr. Specialist must rapidly develop the ability to read and understand the joint venture portions of each Joint Operating Agreement (JOA).
The Sr. Specialist must also possess strong communication skills and be capable of developing effective relationships to resolve disputes or actioned partner queries with Asset Financial Representatives and Financial Manager, Property Accountants, Project Accountants, Revenue Accountants, Landmen and Land Managers and partners Joint Venture accountants.
This position will also be responsible for effective relationships with key stakeholders within Finance Operations, Asset Finance in the Business and Controllers team to ensure that alignment of objectives, delivery of functional plan and targets are met.
- Manage JV Partner debtor/vendor request set-up
- Manage Equity group change request set-up and complete Prior Period Adjustment as necessary
- Review Authority for Expenditure (AFE) JV attributes prior set-up in SAP
- Place AFE in suspense/un-suspense
- Cash call calculation and preparation of statement for sending to JV partner
- Prepare monthly Joint Interest Billing and other required reports
- Records NOV Joint Interest Billing
- Manage payment processing
- Address issues and errors during allocation and cutback process
- Focal for any issues or questions relating to Billing and Cash Call process
- Review Monthly Status of Accounts Reporting Analysis
- Monthly Portfolio Analysis meeting with STM
- Actively participate in the monthly or other relevant stakeholders meeting
- Performs Reporting Activities for both Billing and Accounts Recievables activities.
- Oversee requisition, validation of accurate JV SAP set-up.
- Ensure Compliance to internal and SOX controls; Identify risk areas in current controls and lead the improvement in risk mitigation
- Lead relevant stakeholder meetings (Balance Sheet Reviews, Operational Calls, Cadence meetings, etc)
- Lead audit-related activities including data preparations, engagements, completion of identified action items, etc.
Continuous Improvement and Digitalization:
- Identify and execute process improvements to deliver efficiency and effectiveness value
- Identify control weaknesses and recommend appropriate changes
- Successful execution of process streamlining with continuous improvement mindset
Quickly learn and understand the process while managing the day-to-day operations and demand from the business. The role must develop content knowledge of many aspects of JVA and ability to apply this knowledge in changing business application/environment. Key to have an ability to work with diverse individuals in a team environment and capable in acting independently is essential. The incumbent must be able to work under tight time pressure whilst still maintaining high standard of work.
Job Knowledge, Skills & Experience:
- Degree/qualifications in Accounting/Finance preferred; preferably a CPA
- 3-5 plus years work experience in related accounting processes
- Sound understanding of Joint Venture Accounting process.
- Exhibits excellent English communications skills (written and oral).
- Good knowledge of controls framework.
- Ability to work under high pressure an in a rapidly changing environment.
- SAP and Microsoft office skill set are necessary, preferably advanced excel, macros or Power BI
- Accounting and Reporting -Skill
- Business Partnering -Skill
- Finance Input to Joint Ventures -Skill
- Business Performance Management -Skill
- Financial Controls -Skill
- Risk Management -Skill
- Commercial Mind-set -Skill
- Governance and Assurance - Knowledge
- Negotiation -Skill
Business and Professional Skills:
- Stakeholder Management and Influencing
- Coaching and Feedback
- Problem Solving
- Project Management