Company: Saudi Aramco Skills: Accounting Experience: 12 + Years Education: Bachelors/3-5 yr Degree Location: Saudi Arabia
Aramco energizes the world economy.
Aramco occupies a unique position in the global energy industry. We are the world's largest producer of hydrocarbons (oil and gas), with the lowest upstream carbon intensity of any major producer.
With our significant investment in technology and infrastructure, we strive to maximize the value of the energy we produce for the world along with a commitment to enhance Aramco's value to society.
Headquartered in the Kingdom of Saudi Arabia, and with offices around the world, we combine market discipline with a generations' spanning view of the future, born of our nine decades experience as responsible stewards of the Kingdom's vast hydrocarbon resources. This responsibility has driven us to deliver significant societal and economic benefits to not just the Kingdom, but also to a vast number of communities, economies, and countries that rely on the vital and reliable energy that we supply.
We are one of the most profitable companies in the world, as well as amongst the top five global companies by market capitalization.
We are currently seeking a Segment Accounting Advisor to join our Downstream Segment Financial Reporting & Compliance team.
We are a critical team within Downstream Finance, responsible for ensuring that segment results are prepared in a timely and world-class manner.
Your role will be part of the segment level team that handles accounting, International Financial Reporting Standards (IFRS) compliance and assurance over segment financials reported both internally and externally. You will be accountable for the preparation and submission of segment level financial reports, insights and notes to senior management, and ensure robust controls over financial reporting processes.
Overall, this is a fantastic, and high profile, role that will allow the successful applicant market leading career opportunities.
As the successful candidate you will be required to perform the following:
Assist 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 business unit level.
Ensure timely and accurate recognition of provisions relating to environmental remediation, 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 functions initiatives.
Develop and/or review financial models (mainly in relations to the impairment testing, tariffs, and tax related activities.
You must hold a Bachelor's degree in a Business or Finance discipline.
You should also have been awarded an accounting professional designation (ACCA, CPA, CMA, CIMA, CA, or equivalent).
You should have a minimum of 12 years' experience within 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 is necessary.
You should possess a solid understanding of IFRS in relation to Oil & Gas.
You must have the ability to work with incomplete data and drive conclusions and recommendations to senior management.
A working knowledge of SAP Finance Modules is also required.
Preferred to have an 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.
Our high-performing employees are drawn by the challenging and rewarding professional, technical and industrial opportunities we offer, and are remunerated accordingly.
At Aramco, our people work on truly world-scale projects, supported by investment in capital and technology that is second to none. And because, as a global energy company, we are faced with addressing some of the world's biggest technical, logistical and environmental challenges, we invest heavily in talent development.
We have a proud history of educating and training our workforce over many decades. Employees at all levels are encouraged to improve their sector-specific knowledge and competencies through our workforce development programs - one of the largest in the world.