Senior Project Accountant (Upstream Oil & Gas)

Key Responsibilities

• Framework Implementation: Design and implement project accounting frameworks including chart of accounts, job codes, cost centers, and allocation methodologies aligned with IFRS and corporate policies.
• Budgeting & Cost Control: Develop and maintain project budgeting structures, standard costing templates, and approval workflows. Lead budgeting, forecasting, and variance analysis for CapEx and OpEx across project phases and activities. Monitor project cost-to-complete, identify cost overruns, and recommend corrective actions.
• Cashflow Management: Prepare rolling cashflow forecasts in collaboration with procurement and operations teams.
• Financial Reporting: Produce monthly and weekly project financial reports including P&L, WIP, cost variance analysis, committed vs incurred costs, and margin reporting. Develop financial dashboards and KPIs to support project performance tracking and decision-making.
• Contract Accounting & Invoicing: Ensure accurate revenue recognition in line with contract terms including T&M, lump sum, and unit rate agreements. Support invoicing processes including billing, change orders, claims, retentions, and contract adjustments. Reconcile client accounts and resolve billing discrepancies and disputes.
• Subcontractor & Procurement Support: Ensure timely and accurate cost capture from procurement, operations, and subcontractors. Validate subcontractor invoices, progress claims, and equipment hire costs against contractual agreements. Support procurement processes to ensure cost compliance, contract adherence, and payment milestone tracking.
• Compliance & Audit: Ensure compliance with IFRS, Kenyan tax regulations, environmental levies, and industry-specific reporting requirements. Support statutory audits, tax filings, and regulatory submissions related to project activities. Support internal and external audits and ensure closure of audit findings.
• Asset Management: Manage project fixed assets including capitalization, depreciation, disposals, and asset registers.
• Internal Controls & Systems: Implement and maintain internal financial controls and segregation of duties across project finance processes. Configure and maintain ERP systems (Odoo) for project accounting, reporting, and cost tracking. Drive automation of financial reporting, dashboards, and recurring analysis.
• Collaboration & Business Partnering: Partner with Project Managers, Operations, Procurement, HSE, and Commercial teams to support financial decision-making. Provide financial guidance and training to project teams on cost coding, reporting, and compliance processes.

Required Qualifications & Experience

• Education: Bachelor’s degree in Accounting, Finance, Commerce, or a related field. Professional qualification (CPA(K), ACCA, CIMA, or equivalent) is preferred. A master’s degree (MBA or MSc Finance) is an added advantage.
• Experience:
  • Minimum of 5–8 years’ relevant experience in accounting or finance, with at least 3–5 years in project accounting or cost control roles.
  • Relevant project experience within upstream oil & gas and renewable energy.
• Skills & Knowledge:
  • Strong understanding of contract accounting including T&M, lump sum, and unit rate contracts.
  • Experience in revenue recognition, WIP accounting, cost-to-complete forecasting, and project financial reporting.
  • Strong knowledge of IFRS and Kenyan tax and regulatory frameworks.
  • Proficiency in ERP systems (Odoo preferred) and advanced Excel financial modelling.
  • Experience in budgeting, forecasting, variance analysis, and cashflow management.
  • Strong understanding of procurement processes and subcontractor cost validation.
  • Experience with project audits and internal control frameworks.