Job Overview:
The Project Accountant applies their conceptual knowledge of project accounting and, with a moderate level of guidance and direction from colleagues and leadership, is responsible for solving a range of straightforward project accounting problems. They will be responsible for analyzing possible solutions using standard procedures and building knowledge of the company, processes, and customers. The Project Accountant understands key business drivers and applies this knowledge to solve problems in straightforward situations by analyzing possible solutions using technical experience, judgment, and precedents.
ResponsibilitiesKey Tasks and Responsibilities:
- Maintain internal financial control over the project.
- Work closely with the Business line Project accounting lead to ensure project deliverables are met on time with 100% accuracy
- Ensure all Project costs which get booked are analyzed on a regular basis
- Support the Project lead on Actual cost extracts, Percentage of completion workings and any other month closing related activities
- Ensure that invoices are rendered to clients on a timely basis according to contract terms and that project costs are correctly processed and recorded.
- Maintain a log of client invoices and prepare Statement of Accounts matching with the ledger.
- Responsible for client audit interface
- Working with project procurement and subcontracts functions to prepare Work done but not invoiced accruals and to prepare and report commitment amounts
- Prepare, weekly monthly and quarterly financial reports, including project cash flow, and review them with the project management team
- Directly work with the project manager and project cost controls to prepare project cost/ cash flow reporting and review project profit estimates
- Review the commercial sections of major purchase orders and subcontracts for compliance with JRM policy
- Ensure that all activities involving foreign currency are hedged according to JRM policy
- Align and Coordinate with other departments on project-related financial matters and maintain this interface throughout the life of the project
- Review and analysis of costs charged to the project
- Identify and Assesses project related business risks and recommend mitigation plans
- Manage accounts payables processing for the project
Essential Qualifications and Education:
- 5+ years of experience, ideally in oil and gas, EPCI, or construction industry
- Bachelor’s degree in Finance and Accounting required and relevant certification, such as Chartered Accountant, ACCA, CPA, etc.)
- Proficiency in MS Excel and ERP environment
- Previous accounting staff supervisory experience
#LI-PM1
For more than 100 years, we've been making the impossible possible. Today, we're driving the energy transition with more than 30,000 of the brightest minds across 54 countries.
Skills Required
- 5+ years of experience in oil and gas, EPCI, or construction industry
- Bachelor's degree in Finance and Accounting
- Relevant certification such as Chartered Accountant, ACCA, CPA
- Proficiency in MS Excel and ERP environment
- Previous accounting staff supervisory experience
What We Do
McDermott is a premier, fully-integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach to design and build infrastructure solutions to responsibly transport and transform oil and gas into the products the world needs today. From concept to commissioning, our expertise and comprehensive solutions deliver certainty, innovation and added value to energy projects around the world. It is called the “One McDermott Way.” Operating in over 54 countries, McDermott’s locally-focused and globally-integrated resources include approximately 40,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. To learn more, visit www.mcdermott.com.
