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PURPOSE
The Finance Analyst Project Management role provides finance and accounting expertise within the Petroleum Development organization. Specifically, the role provides finance advice for the Development Planning group, Project Engineering group, Operated-By-Others Projects and Operated Projects within the Petroleum Development organization. Essentially these groups evaluate prospective investments for advancement and then support major capital development from the Identification phase through Execution Phase of the project. The Finance Analyst role supports the assigned project team in every phase of the development; the project team may include project management, facility engineering, reservoir engineering, subsurface managers, HSEC managers, project services teams including cost controllers and schedulers, and supply and logistics project members.
This position reports to Finance Manager – Project Management
ACCOUNTABILITIES
Execution of Global Standards for Key Finance/Accounting Processes
Comply with established standards, control processes and drive global consistency in methodologies around the following areas:
• Compliance with Global Petroleum Approvals Framework
• Compliance with Foreign Corrupt Practices Act
• Compliance with 1SAP Protocols
• Coordinate key inputs directly from the Business Partners within the division for finance processes and reporting
• Identify areas of continual improvement and propose corrective action where necessary
• Ensure timely delivery, completeness and accuracy of all standardized reports generated by the Petroleum Accounting team consistent with the month-end schedule for Petroleum
Execution of General Financial Accounting Team Processes
Monthly Reporting
• Perform monthly financial and accounting activities including:
• preparation and posting of journal entries
• preparation and posting of accruals
• preparation of variance analysis for MFOR reporting
• review of foreign exchange conversions
• review of general ledger account reconciliations
• Review operated and non-operated cash calls and joint interest billings and coordinate with JV Accounting on receivables/payables
• Review of asset under construction (AUC) balances to ensure correct depreciable base and work with Fixed Asset team to move capital from AUC to fixed assets for depreciation
• Monitor project 3rd party expenditures and accruals
• Monitor Development group timewrite to ensure 100% compliance
• Review general and administrative costs for the Development group including travel, timewrite and expense allocations and make necessary reclass entries
• Review sundry receivables and prepayments
• Communicate finance update to project team including budget vs. actual analysis
• Prepare project Dashboards with updates on inception-to-date spend, latest estimates and Tollgating information
Budgeting and Forecasting
• Liaise with project teams and economist to develop and analyze 2 Year Plan and 5 Year Plan budget data
• Coordinate and collect data for budget load on all Development projects including G&A
• Maintain and run finance model for budgeting / forecasting requirements
• Prepare, upload and validate BPS forecast and provide all necessary analysis and commentary
• Provide DCT template and MRP package inputs for Budget Analysis & Management Reporting
Ongoing Processes
• Understand Joint Operating Agreements and ensure compliance for billings, cash calling, overhead rates, recoverability of shared costs, operating plans and audit rights
• Review contracts for commitments and contingencies, commercial issues, revenue recognition and embedded derivatives
• Monitor Authority for Expenditure (AFEs) and all associated governance and control processes (close-out, supplements, amendments)
• Liaise with Operator finance personnel (OBO projects) to resolve JIB / cash call / AFE issues
• Provide input on Stewardship Review including balance sheet and Briefing Papers review, impairment reviews, commitments reporting, Accounting Matters for Consideration and Watchlist documentation
• Initiate Master Data setup request and provide guidance on establishment of project codes and hierarchal wbs structure based on project scope and size
• Provide finance support and guidance during Tollgating Process and IAR/SAR preparation
• Coordinate Audits including Sarbanes-Oxley, Joint Venture, Group Audit (GAS) and Operational Readiness
• Prepare and provide assistance for Adhoc reporting as requested by project teams and management
• Establish and control of project-related bank accounts, including interfacing with Treasury
• Execute processes of all finance and accounting activities related to divested assets including: accounting for closure plans and disposal of property
• Monitor sole costs per COPAS guidelines
• Provide financial support for insurance or warranty claims
• Prepare Accounting Policy Papers for endorsement by the Controller on finance and accounting issues.
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