Sr.JV Accountant
Reports to: Finance & Accounting Manager
Managing the unique financial complexities of JV partnerships including
H
andling Joint venture (JV) accounts, including cost allocation revenue sharing, and cash calls, in accordance with petroleum concession agreements and joint operating agreements (JOA).
Managing general ledger accounts, processing
JV
billings, and coordinating with JV partners.
Providing financial analysis, supporting audits, and maintaining strong relationships with internal teams and external JV partners.
Role and Responsibilities:
Financial Reporting:
Lead the month-end and year-end JV closing processes for PITA and Non-PITA accounts, ensuring accuracy, timeliness, and compliance with company policies and regulatory requirements.
JV Transactions: process and reconcile JV billings (e.g., Joint Interest Billings - JIBs) and oversee JV distributions in accordance with JV agreements.
General Ledger Management: maintain and manage the general ledger, ensuring accuracy and completeness of accounts.
Compliance: ensure accounting practices and reporting comply with accounting standards, the specific terms of JV agreements, and relevant regulations such as Petroleum Income Tax Act (PITA).
Audit Support: support internal and external auditors by providing necessary documentation and information for JV audits.
Analysis & Insights: provide financial analysis, including budget to actual variance explanations, and insights into JV performance for management and JV partners.
Interfacing with Partners: serve as a key accounting contact, liaising with JV partners, management, and internal departments.
Process Improvement: identify and implement improvements to JV accounting processes to enhance efficiency and accuracy.
Skills & Qualifications
Hold at least a
bachelor’s degree in accounting or related field (Master’s degree is an advantage).
Technical Accounting: Strong knowledge of Generally Accepted Accounting Principles (GAAP) and experience with Joint Operating Agreements (JOAs).
Software Proficiency: Experience with financial software like SAP, IDEAS or similar accounting platforms.
Analytical Skills: Ability to analyze financial data, identify trends, and provide actionable insights.
Communication Skills: Excellent verbal and written communication skills to effectively interact with internal teams and external partners.
Attention to Detail: High degree of accuracy and meticulous attention to detail.
Problem-Solving: Keen ability to identify and resolve financial discrepancies.
Positive Attitude, enthusiastic and optimistic
Minimum 5–7 years of experience in accounting, with at least 3 years in joint venture accounting within the oil & gas or petroleum industry.
Strong knowledge of
Petroleum Income Tax Act (PITA)
,
joint operating agreements (JOA), and related petroleum accounting practices.Good command in English