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Petrofac is currently looking to recruit a Project Accountant on a permanent basis based in Sharjah, UAE.What we do
Petrofac is a leading international service provider to the energy industry, with a diverse client portfolio including many of the world’s leading energy companies.We design, build, manage and maintain infrastructure for the energy industries. Our comprehensive and tailored service offering covers each stage of the project life cycle and a variety of commercial models, giving our clients the flexibility, they need.
Equal Opportunities
We recruit, reward, and develop our people based on merit regardless of race, nationality, religion, gender, age, sexual orientation, marital status or disability. We value our people and treat everyone who works for or with Petrofac fairly and without discrimination.Petrofac is striving to develop a diverse and inclusive culture where everyone can contribute. We encourage everyone to apply, especially those individuals who form part of underrepresented groups. Applications are also welcome from candidates who want to discuss flexible working or job-sharing requests.
Key Responsibilities:
- Monitor projects receivables in line with the cash flow projections and highlighting risks in achieving budgetary targets.
- Monitor projects payments in line with the cash flow projections.
- Co-ordinate with Shared Services Team for preparation of payment batches
- Ensure all vendor/subcontract invoicing issues related to workflow, accounting and indirect taxes are to be resolved in timely manner.
- Review of cost reports (Value of Work done) in line with guidelines and resolve all open issues to ensure smooth closing of monthly/periodic accounts.
- Review and report project related balance sheet accounts (AP, AR, advances and retentions) on monthly basis.
- Review the debit balances and advances to vendors and subcontractors from time to time and ensure risks are mitigated from finance perspective
- Monitoring of site petty cash and ensuring adherance to petty cash policy
- Ensure all statutory dues related to VAT, WHT, Payroll taxes are paid on or before due dates.
- Keep track of all the Bank Guarantees & review charges are to be accounted to the projects in tax jurisdiction.
- Vendor accounts reconciliation. Target periodic reconciliation of all the major suppliers and sub-contractors.
- Project performance monitoring – highlighting key deviations from budget and overruns
- 2nd line of defence checks on Value of work done
- Monitoring project collections & payments and highligting the risks and slippages
- Making sure statutory compliances are met within the deadlines
- Preparation of FS for country tax filings.
- Anticipate issues related to regulatory compliance such as VAT, WHT, Corporate income tax due to AP/AR workflow, System/procedural constraints and ensure that these are overcome with the consultation of concerned function experts
- Develop excellent co-ordianation between the various stake holders in the project in order to maintain smooth operations from finance perspective
Recommended:
Click to Check Other Recent Jobs here!Essential Skills:
- Chartered Accountant with 7-8 years experience or a senior accountant with significant industry experience.
- Exposure to EPC industry in the middle east preferred
- Good analytical skills, spreadsheet skills, data interpretation skills
- Awareness on ERP and its working, preferably Oracle.
- Ability to interact with different stakeholders and able to influence.
If you are selected as a potential candidate, we will be in touch.
