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Project Accountant

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McDermott International, Ltd

1mo ago

  • Job
    Full-time
    Senior Level
  • Accounting & Tax
    Business, Operations & Strategy
  • Dubai

AI generated summary

  • You need 5+ years in oil & gas or construction, a Finance/Accounting degree, relevant certification, Excel and ERP proficiency, plus supervisory experience in accounting.
  • You will manage project finances, ensure timely invoicing, prepare financial reports, cooperate with departments, assess risks, oversee accounts payable, and ensure compliance with internal policies.

Requirements

  • 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

Responsibilities

  • Maintain internal financial control over the project
  • Ensure that invoices are rendered to clients on a timely basis according to contract terms and that project costs are correctly processed and recorded
  • Responsible for client audit interface
  • Working with project procurement and subcontracts functions to report commitments amounts
  • Prepare 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 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

FAQs

What are the primary responsibilities of a Project Accountant?

The primary responsibilities include maintaining internal financial control over the project, ensuring timely invoicing to clients, managing client audit interfaces, preparing financial reports, working with project management on cost reporting, reviewing compliance of purchase orders, and managing accounts payables processing.

What qualifications are required for the Project Accountant position?

The essential qualifications include 5+ years of experience in oil and gas, EPCI, or the construction industry, a Bachelor’s degree in Finance and Accounting, relevant certifications (such as Chartered Accountant, ACCA, CPA), proficiency in MS Excel and ERP environments, and previous supervisory experience in accounting staff.

Is prior experience in the oil and gas industry necessary for this role?

Yes, ideally, candidates should have 5+ years of experience specifically in the oil and gas, EPCI, or construction industry.

What technical skills are important for a Project Accountant?

Proficiency in MS Excel and experience with ERP systems are important technical skills for a Project Accountant.

Will the Project Accountant be responsible for client interactions?

Yes, the Project Accountant will be responsible for client audit interfaces and ensuring that invoices are rendered to clients in a timely manner.

Does the role involve risk assessment?

Yes, the Project Accountant identifies and assesses project-related business risks and recommends mitigation plans.

Are there opportunities for career advancement in this role?

Yes, given the experience and skills developed in this role, there are opportunities for further career advancement within the company.

Is this position suitable for someone with a certification in accounting?

Yes, relevant certifications such as Chartered Accountant, ACCA, or CPA are required and advantageous for this position.

What level of guidance is provided to the Project Accountant?

The Project Accountant will operate with a moderate level of guidance and direction from colleagues and leadership.

How does this role contribute to company operations?

The Project Accountant plays a critical role in maintaining financial control, reporting on project costs and cash flow, and ensuring compliance with policies, which all contribute to efficient company operations.

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McDermott International, Ltd

Energy
Industry
10,001+
Employees

Mission & Purpose

McDermott is a premier provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach—engineered to responsibly harness and transform global energy resources into the products the world needs for now and what’s next. From concept to commissioning, we are creating and delivering the building blocks of the energy transition. Our innovative expertise and capabilities advance the next generation of global energy infrastructure—empowering a brighter, more sustainable future for us all. Operating in over 54 countries, our locally focused and globally integrated resources include more than 30,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world.