
Financial Project Specialist
1 day ago
About the Role:
Ralds and Agate Limited is seeking an experienced Financial Project Specialist to join our team. In this role, you will be responsible for managing the financial aspects of projects within the company, ensuring accurate budgeting, cost control, and financial reporting.
Key Responsibilities:
- Develop, monitor, and manage project budgets, ensuring alignment with corporate financial goals and accurate forecasting of costs and revenues.
- Track project expenditures, ensuring they are within approved limits and that any variances are identified and investigated. Implement cost-control measures to optimize project efficiency.
- Prepare and present regular financial reports, including budget performance, cost analysis, cash flow forecasts, and variance reports to project stakeholders and senior management.
- Collaborate with the procurement team to ensure that all project-related purchases are recorded accurately and that invoices are processed on time.
- Ensure that all project costs are allocated correctly across various cost centers and projects, using appropriate accounting methods and standards.
- Manage accurate and timely recognition of project revenues by standards.
- Track and report on capital expenditures (CAPEX) associated with projects, ensuring that CAPEX is within approved limits and accurately reflected in financial statements.
- Assist project managers in preparing cost estimates for new projects or project extensions, ensuring that estimates are realistic and based on sound financial principles.
- Monitor the cash flow of projects, ensuring that sufficient liquidity is maintained to meet project obligations, and provide timely cash flow forecasts to senior management.
- Conduct financial analysis and perform scenario planning to assess the potential impact of project decisions and recommend solutions to improve project financial performance.
- Ensure proper accounting and financial management of joint venture (JV) projects, including cost recovery and partner reporting.
- Coordinate with internal and external auditors to ensure that all project-related financial activities comply with internal controls, governance frameworks, and industry regulations.
Requirements:
- Bachelor's degree in finance, accounting, economics, statistics, or a related field.
- Possession of a relevant professional certification – ICAN, ACCA, or equivalent is an added advantage.
- Minimum of 5 years of experience in project accounting, financial planning, budgeting, preferably in an upstream oil and gas company.
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