Segment Accounting (Financial) Advisor based in Saudi Arabia

Saudi Arabia
Competitive base salary + benefits such as relocation, housing & education, medical coverage
23 Feb 2021
23 Mar 2021
Contract type
Full time

This is a full time, permanent and residential role based in Saudi Arabia.

Position Description:
Saudi Aramco is currently seeking an experienced qualified accountant to join Saudi Aramco’s Downstream Segment Financial Reporting & Compliance team based in Dhahran, Saudi Arabia. Saudi Aramco is an International Financial Reporting Standards (IFRS) company.

The successful candidate will be part of the segment level team that handles accounting, compliance (IFRS) and assurance over segment financials reported both internally and externally. It is a critical team within Downstream Finance, responsible for ensuring that segment results are prepared in a timely and world-class manner, as can be expected from one of the largest companies in the world.
You will be accountable for preparation and submission of segment level financial reports, insights, and notes to senior management, and ensure robust controls over financial reporting processes.

As you will be over seeing segment level financials and associated processes, you are required to exhibit strong interpersonal skills, as you are dealing with multiple stakeholders, initiate and lead segment wide process improvement opportunities, and promote consistent application of group policy.
The role provides good exposure to senior management, as well as the opportunity to get involved in wide ranging financial activities associated with long-term planning, investment decisions, price negotiations, and the like.

Minimum Requirements:
• A Bachelor degree in a Business or Finance discipline.
• Accounting professional designation (ACCA, CPA, CMA, CIMA, CA, or equivalent).
• Twelve years of experience in Finance and reporting related activities. Preferably, 5+ years of this experience will be in the oil & gas value chain.
• Previous experience in implementing financial controls.
• Solid understanding of IFRS in relation to oil and gas.
• Ability to work with incomplete data and drive conclusions and recommendations to senior management.
• Working knowledge of SAP Finance Modules.
• In depth knowledge in one or more of the following areas: clearing house and trade accounting, asset accounting, cost reallocations, revenue accounting, transfer pricing, financial consolidation, and group reporting requirements.
• Strong modelling experience would be considered an asset, as it allows you to be active in an even broader suite of responsibilities.

Duties & Responsibilities:
The successful candidate will perform a broad spectrum of financial accounting activities, ensuring that Downstream’s financial accounts are prepared in a timely and world-class manner.

• Assists in budget development cycles. Set, monitor and allocate budgets in coordination with Finance.
• Participate in the consolidation and reconciliation of financial figures reported to executive management to finalize the business line financial reports at both actual and planning events
• Prepare monthly and quarterly financial statement analytical review at the business unit level.
• Ensure timely and accurate recognition of provisions relating to environmental remediation, and legal and asset retirement obligations.
• Provide Downstream Finance community advice on technical accounting issues.
• Identify and implement preventative and detective controls on key financial processes.
• Establish and maintain reconciliation controls on balance sheet accounts.
• Implement and oversee transfer pricing and cost allocation policies in the Downstream area.
• Coordinate, maintain, and resolve outstanding audit exceptions for both internal and external auditing.
• Coordinate with various internal company financial stakeholders and compliance such as Treasury, Accounting Policy, Tax, Pricing, Financial Accounting, External Reporting, Enterprise Risk, Audit, and Affiliates Support for the DS business. Ensure facilitation of DS objectives through these stakeholders
• Oversee the implementation of cost-effective internal controls for results-oriented management; assess the adequacy of DS internal controls; identify needed improvements and take corresponding corrective action; and report annually on the internal controls through management assurance statements.
• Develop product and regional segment financial statements.
• Track ongoing liquidity and maximize return on investments to meet current and future financial needs.
• Support business systems architecture and ERP for financial function initiatives.

This is a full time, permanent and residential role based in Saudi Arabia.

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