CASY-MSCCN Jobs

Company Overview:

People power our future. That is why advancing a dynamic, inclusive environment, where everyone grows and thrives is critically important to us.

Our ingenuity fuels daily life. Together, we’ve forged some of the most trusted partnerships across the energy value chain to make what was once just an idea a reality: laying subsea infrastructure thousands of feet below sea level, installing offshore platforms hundreds of miles from shore, and using our expertise to design and build offshore wind infrastructure.

For more than 100 years, we've been making the impossible possible. Today, we're driving the energy transition with more than 30,000 of the brightest minds across 54 countries.

Here, what you do matters.

Job Overview :

The Principal Project Accountant is responsible in guiding business line team in execution of assigned end to end project accounting activities including revenue recognition calculations, contract profitability reports, cost analysis, forecasting etc. They ensure timely and accurate month end close activities including creation of accruals and also that activities are performed in compliance with applicable policies and procedures, and in compliance with SOX requirements.

Key Tasks and Responsibilities:

• Training new joiners with applicable concepts and processes.

• Supporting internal and external audits relating to project accounting.

• Provide accurate and effective document preparation and records management related to the assigned activities, in accordance with records retention policies and procedures.

• Any other duties as assigned by the management.

• Upon project award, supervise the setting up of the MS and COA

• Review with the relevant PMT members the break-up of the Bid, analyzing how the project execution has changed from the Bid stage to the current execution stage and bringing about those changes in the project cost break up continually during the execution

• Review the cost estimates prepared by the cost controls team

• Ensure that the estimates are reasonable and avoid excess/insufficient budget estimates

• Supervise the continuous monitoring of committed cost and actual cost and the analysis of the Actual/ Committed cost

• Ensure overruns are promptly reported to the management

• Review the cash flow for the project and supervise the monitoring of the cash position continually

• Inform the Project team as required of any shortfall in the cash position

• Active participation in relevant project meetings

• Establish hedges & manage those hedges in place of foreign exchange-related cash flow to protect the project from currency fluctuations throughout the life of the project

• In respect of EAC Revenue, review the Change orders booked in the project for their completeness

• Review the accruals being set up on the project for milestones to accurately reporting of the cost incurred on a monthly & Quarterly basis

• Supervise and review all the monthly/yearly reporting deliverables

• Monitor the PMT forecast and ensure the overruns and savings are reflected in the EAC

• Monitor the Percentage of Completion recognition and analyze the variances from the

• Forecast; Provide explanations for the variances as applicable

• Supervise the incorporation of new standards into the project budgets

• Coordinate with treasury to obtain necessary performance bonds & parent Company Guarantees as per the project requirement

• Ensure that the performance evaluation of the assistant project accountants is conducted on a timely basis

• Ensure that changes to Delegation of Authority (DOA) reporting lines and communicated to the appropriate accountant as required

• Ensure compliance with SOX and internal control requirements and coordination with internal & external auditors

• Understand contract requirements to ensure proper client invoicing and timely collections

Essential Qualifications and Education:

• Bachelor’s degree in Finance and Accounting required and relevant certification, such as Chartered Accountant, ACCA, CPA, etc.)

• 8-10 years of experience, ideally in oil and gas, EPCI, or construction industry

• Strong technical, supervisory, team management, and communication skills

• Ability to multi-task and manage tight reporting schedules

• Ability to translate and understand contractual commercial requirements

• Good commercial acumen

• Qualified Professional Membership

• Experience with large ERP systems (JDE is an advantage)

• IFRS/USGAAP knowledge

• Tax and audit experience is an advantage

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McDermott is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, genetic information, race, color, religion, national origin, disability, protected veteran status, age, or any other characteristic protected by law.