Overall Purpose of the Job
Manage the JV Billing ledgers, ensure compliance with JV accounting procedures and manage preparation and issuance of billing statements in accordance with Joint Operating Agreements (JOA). The position also manages accounting entries during the month end closing activity related to JV.
Principal Accountabilities
• To ensure timely and correct submission of monthly billing statements for operated assets and their reconciliation with the ledger.
• Ensure timely and accurate closing activities are carried out related to JVs.
• To record Accruals, Suspense processing, Settlements & Amortization for operated & non-operated blocks.
• To ensure correctness of PCO calculation, Partner Recharges, Opex Split etc. before month end closure and reporting.
• Supervision of WBS Register. Issue AFE number for operated ventures and ensure that all the WBS issued to partners are in compliance with the relevant PCAs / PSAs.
• Prepare monthly statement for actual costs for non-operated assets and compare the same with billings. This is sent to the end users for obtaining accruals.
• To record non-operator monthly billing statements and their reconciliation and ensuring compliance with approved budgets and PCA provisions.
• Effective communication with the partners.
• To ensure accuracy in calculation of Prime’s share in the non-operated billing statement.
• Communicate with technical departments for the operational activities carried out in different Joint Ventures.
• Preparing reports for DGPC related to costs incurred in operated blocks.
• Preparation of JV accounts in accordance with the requirements of the relevant Joint Operating Agreements.
• Provide assistance in the Audits (JV Audits & Partner Audits).
• Preparation of company’s response on JV audit reports issued by non-Operators.
• Responding to all data requests and other queries raised by regulators (SBP & DGPC) in relation to the JV operations. This is to be done in coordination with commercial and business development team.
• Posting of cash call (Payable or Receivable) for operated & non operated assets on regular basis
• Preparation of financial statements.
• Analyze revaluation at JV level to ensure exchange is recharged to JVP correctly.
• Improve the quality of billing statement and ensure it is prepared by 7th day of each month.
• Ensure that partner balances reported in the billing statement are in line with the ledger and any difference is identified and corrected timely.
• Prepare a reconciliation of inter company JV balances and payable/ receivable position JV wise with reference to GL account 910000 & 430900.
Candidate Profile
• Qualified CA with articleship completed
• CA candidates with 1 or 2 papers left, may also apply
• Candidate needs to have a strong grip on MS Excel.
• Candidate needs to be proficient in Computer Software