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  • Job reference: RMS0120481

JV Audit Analyst

  • Sector: Commercial
  • Location: Houston
  • Job type: Contract
  • Date posted: 28/01/2013
  • Time left:
    d h m s
This vacancy has now expired.
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The Role:
To provide accounting, financial stewardship, control, oversight and standard-setting for key Joint Venture processes. This includes the timely delivery of complete and accurate Joint Interest Billings (JIBs) and Cash Calls for Operated units ensuring compliance with various Joint Venture agreements and contracts, and review of JIBs and Cash Calls for non-Operated units.

-Lead the establishment and development of standards, control processes and drive global consistency in methodologies around the following areas:
-Joint Venture budgets to enable consistency of format and content
-Facilitate creation of and changes to Joint Venture processes and master data required by Joint Venture farm-ins and farm-outs
-In collaboration with the Business Partners, develop standards and core reporting requirements for all aspects of onshore Joint Venture management reporting
-Set standards and process for non-operated cash calls, prepare cash call templates and supporting analysis documentation using data from operator

-Coordinate key inputs directly from the Business Partners for finance processes and reporting including accurate and timely generation and distribution of Joint Interest Billings and Cash Calls, posting of Joint Venture payments, tracking and following up on outstanding receivables
-Receive billing from Operator, map to database/spreadsheets and upload into the accounting system
-Review of line-item detail for JIB accuracy (including a check that non billable items are not on the JIBS), follow-up on potential errors, perform reconciliations of billable / non-billable transaction data)
-In collaboration with Business Partners review JIBs to consider cost recovery issues in accordance with the terms of all Joint Operating Agreements and Contracts
-Work closely with the Land Group and the Financial Systems team to develop effective processes for timely creation of onshore JIB decks for the large group of recently acquired onshore properties.
-Perform relevant activities during closing cycle
-Ensure compliance with Global Petroleum accounting policy as it relates to joint venture accounting
-Respond to ad hoc Business Partner queries
-Responsible for SOX certification of all financial controls and processes owned by the Joint Venture Accounting team

-Demonstrates and articulates a clear and detailed understanding of Joint Venture processes and methodologies, preferably including carried interest, payout statements and partner netting
-Has a sound understanding of the business systems used within JV
-Undertakes complex data gathering tasks and analysis under supervision
-Understand & apply Joint Operating Agreements and COPAS Guidelines & Model Form Interpretations to ensure appropriate cost recovery
-Undertakes a role in more complex Joint ventures running cutback, producing JV billings and cash calls, booking invoices, supporting JV audits, cash disbursements and partner account reconciliations with a high degree of accuracy

•Bachelor's degree in Business with a strong accounting representation
•CPA preferred but not required
•Five to ten years of professional experience in upstream O&G, preferably with experience in US Onshore Joint Venture Accounting and knowledge of COPAS guidelines
•Demonstrated experience working in either a SAP or Oracle-based (or similar large ERP system) general ledger, business warehouse and consolidation system environment.
•Superior interpersonal skills to handle various customer and stakeholder groups
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