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Budget, Cost Control & Reporting Analyst

Greater London
Oil & Gas
Job Type:
Market related


Budget, Cost Control & Reporting Analyst

Contract (PAYE Only)



Preparation, analysis and submission to the company of the financial reporting (P/L, Balance Sheets, operational data such as Investments and Productions), including monthly actuals, quarterly forecasts, annual Budget according to the company and US accounting principles, for all the Companies managed in the UK Business Unit. This position is the company’s first reference point for the analysis of information and for ensuring compliance to the company accounting principles and procedures. Key responsibilities cover the following areas:

  • Preparation, analysis and submission to the company of monthly, quarterly and year-end operating data as per company procedures and deadlines.

  • Prepare the Actual -v- Budget control and variance analysis of the various economic and financial data and provide them to the company and to the Company Management.

  • Preparation of the Company’s capex, opex and common cost budget in a timely manner and follow-up of the variance analysis of actual –v- budget (cost control).

  • Prepare and provide guidelines on the cost allocation process and support the process to ensure timely completion.

  • Monitor and analyse the receipt of non-operated budget and collaborate with technical team for the submission of operated budgets for joint venture activities.

  • Provides support in respect to the implementation of company financial policies, analysis of financial and economic impact of business operations on the Company’s results, identification and selection of the most appropriate accounting treatments in order to achieve the Company’s financial objectives.

  • To perform ad hoc duties as required

Main Accountabilities and Responsibilities:

  • To ensure that the Reporting and all requested information are provided to the company according to the deadlines.

  • To ensure that the year-end financial reporting is consistent with group principles.

  • To support the other Department Sections in the implementation of an effective control system to ensure the correctness of accounting and reporting data.

  • To support the SAP Expert in the implementation and maintenance of interfaces between the accounting and reporting systems.

  • To monitor and analyse the actual –v- Budget variances in close co-ordination and liaison with the technical departments and provide such analysis to company management for timely corrective actions.

  • To monitor the business performance indicators, analyse reasons for variances and advise management on any significant variance compared with target.

  • To prepare the Company’s capex, opex and common costs’ Budget and follow-up the variance analysis of actual –v- budget (cost control), providing timely information to Department Managers.

  • To follow-up the audit process for the year-end and Half-Year Information Package to the company.

  • To support the preparation of the financial data presentations for the Board of Directors.

  • To maintain close liaison with the company to ensure the correct application of company finance policies and accounting principles.

  • To liaise with the company to provide analysis and detailed financial information as requested.

  • To analyse the economic and financial impact on the Company’s results of business operations, fiscal and contractual issues; liaise with the technical departments to have timely information on business facts to enable analysis and correct representation in the financial accounts.

  • To support the Budget, Cost Control and Planning Manager in the implementation of company financial policies and in the selection of the most appropriate accounting treatments of business facts in order to achieve Company’s and company financial objectives.

  • To support the cost allocation process and provide guidelines in order to optimise the cost allocation according to the Company’s objectives.

  • To co-ordinate the receipt and/or submission of budgets for joint venture activities.

  • To analyse the budget v actual variance analysis and provide management information reports within agreed deadlines.

  • To prepare periodic financial information for joint venture activities within the organisation.

  • Carry out the following activities for the Operated and Non-Operated JVs: Value of work done analysis; Variance analysis of budget v actual.

  • To set up and maintain WBS and cost centre master data as required.

  • To ensure full adherence to the Company’s Health, Safety and Environmental policies, procedures and standards.

For all the Companies included in the UK Business Unit prepare, analyse and submit:

  • Monthly operating data.

  • Quarterly complete Forecasts (P/L, B/S, Operational and detailed financial data).

  • Yearly Budget/Plan.

  • Year End complete Financial Statements analyses, according to company and US Accounting Principles.

Main Interfaces (relationships):

INTERNAL (company, no reporting line):

The main inter-functional relationships involve:

  • Finance Department

  • The controller of the geographic unit with whom all investment proposals and the relevant economic and financial implications are to be discussed.

Relationship with company:

  • All Finance Sections.

  • Technical Departments.

  • Other Departments.

  • Commercial Departments.

EXTERNAL (external):

  • Liaison with External Auditors for the year-end and half-year audit.

  • When requested, liaison with Joint Venture representatives of all levels in other oil & gas companies in operated and non-operated joint ventures.

Education & Professional Qualifications:

  • University Degree in Accounting, Economics, Business Management or equivalent.

  • Membership of a recognised Accounting Body is recommended (CA, CIMA, ACCA).

Required Experience and Technical Competencies (relevant experience and technical skills):

  • Knowledge of Excel, Word and PowerPoint.  Knowledge of SAP system is an advantage.

  • Previous relevant experience in an Accountancy role within the Oil and Gas Industry is preferred.

Behavioural Competencies:

  • Flexible and proactive. Good analytical skills.

  • Aptitude to work in multi-cultural environments.

Working Conditions:

Flexibility to work overtime and during weekends may be requested during year-end and quarterly closing periods or in special circumstances.

At First Recruitment we understand just how important it is to secure the right people. That's why our financial consultants always take the time to understand requirements in detail and offer sound advice to both clients and candidates.

This is a superb opportunity for anyone looking to work for a reputable organisation.

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