JV Accountant Job at Seplat Energy Plc

Full Time
Edo
Posted 2 years ago
Applications have closed
Seplat Energy Plc profile

Seplat Energy Plc

JV Accountant Job at Seplat Energy Plc. Please ensure you read the job requirements before applying for this position.

Seplat Energy Plc is a leading indigenous Nigerian oil and gas exploration and production company with a strategic focus on Nigeria, listed on the Main Market of the London Stock Exchange (“LSE”) (LSE:SEPL) and Premium Board of the Nigerian Stock Exchange (“NSE”) (NSE:SEPLAT).

Seplat Energy is pursuing a Nigeria focused growth strategy and is well-positioned to participate in future divestment programmes by the international oil companies, farm-in opportunities and future licensing rounds. We are leading Nigeria’s energy transition towards cleaner, more reliable energy that is accessible to all.

We are recruiting to fill the position below:

Job Title: JV Accountant

Location: Edo

Overall Purpose of the Job

Ensures accurate cost reporting and joint venture Partner relationship management

This role is responsible for the following:

The compilation and support for approval of the annual budget and performance by the JV Partners.
Coordinating the monthly cash call process.
Reporting and defending the monthly returns to the JV Partner at the SUBCOM level.
Active pursuit of the cash call receivables from the JV Partners and providing real-time information on cash call status.
Coordinating the performance review exercises and ensuring all necessary documentation is provided for cost recovery.
Monitoring the performance of operated JV blocks against budget and proffer recommendations for improvements.
Coordination and support of JV Audits and responses.
Overall JV Partner relationship management at the SUB COM level.

Principal Accountabilities
Actively pursue all avenues to ensure payments are processed timely:

Manage relationships within NPDC and NNPC staff to facilitate preparation and processing of cash calls
Follow up with NPDC Treasury and monitor cash call payments
Prepare and follow up with letter requests on Partners funding and give feedback
Proactively advise on any issues that may hinder the timely processing of cash calls
Act as JV Finance focal point in Benin

Monthly Returns/Cash Call Meeting Coordination:

Collate individual departmental Cash Calls and packaging for submission to NPDC
Coordinate pre-Cash Call/Returns meeting before meeting with NPDC
Follow up with all Subcommittees on all outstanding Cash Call/Returns issues to ensure that required backup documentation is made available for the approval of Returns/Cash Calls set aside.
Collate and signoff monthly cash calls and returns with NPDC
Prepare reports for Management use after the conclusion of the monthly review meetings with the JV Partner.

Cost Performance/Budget/ Work Program Support:

Work ahead of performance/budget review meetings to engage and sensitize NPDC Finance of costs to be expected
Follow up with NPDC to ensure all outstanding costs yet to be approved are reviewed with a favorable outcome
Ensure all required documentation to facilitate signoffs are made available to NPDC representatives
Coordinate the SUBCOM meetings and make Finance presentations.
Provide support for the TECOM and OPCOM meetings.

NPDC Receivables Reconciliation:

Prepare and ensure approval of ITD Receivable position signoff off with NPDC monthly
Prepare and ensure approval of monthly cash call position statement with NPDC clearly stating individual partner’s funding position.
Preparation of monthly Treasury advice on the Consolidated Cash Call payable

Month-EndEnd Close Activities:

Review the ledger to capture errors before the cutback
Alternate staff for Western Asset Cutback

Unitized Field JV Finance Focal Staff:

Cash Call request reviews/approval
Ensure timely submission of returns by the operator as at when due quarterly
Cash Call/Returns Reconciliations
Weekly reporting on JV activities
Finalize/formalize the cash call review process by obtaining a FINCOM signoff
Thoroughly review reported performance to ensure that only valid costs are approved by Seplat

Audits/Ad-hoc Assignments:

Promptly respond to Audit queries from NPDC/NUPRC/other government agencies.
Dimensions (Record any significant quantities on which job has some effect, e.g. budget or turnover, records processed, employees supervised, including personnel at other locations, if appropriate)
This position supports the Company’s liquidity position by ensuring the budget and cash call process are run in line with the JOA provisions for a prompt cash settlement and optimum cost recovery.

Job Context and Challenges:

Cash Call: This involves liaison with individual departments to come up with total estimates required by the organization for the Business period/Month(s)with total recourse and reference to the Approved budget to ensure that only the existing budget is a line called for stated activities, Reviewing the Calls with internal SUBCOM to ensure proper alignment with Organization strategy, and ensuring that Calls required to meet Seplat need is approved during the subsequent review meetings with
Budget: working with all Company’s multidisciplinary Departments to arrive at the required activities for the Budget year, ensuring that appropriate UAP Codes are used on budget OPEX or CAPEX Budget line items, consolidating all budgets, and driving the Management endorses Budget through adequate preparation to defend and justify Budget at SUBCOM, TECOM and OPCOM meetings to secure approval
Performance: Generation of individual SUBCOM performance from the SUN Accounting system using the Q&A reporting system, reviewing the reports to ensure that it is appropriately coded in line with the approved budget UAP Line items, Organizing and coordinating the financial reviews with SUBCOM, TECOM, and OPCOM.

Relationship

Internal: Western Asset; SCM, HR, Audit, ERM, Finance, Legal, IT, and other support functions.
External: NPDC and other Government Agencies; External Auditors, etc.

Job Knowledge and Qualifications