Finance Business Partner

Petrofac is a leading international service provider to the energy industry, with a diverse client portfolio including many of the world’s leading energy companies.

We design, build, manage and maintain infrastructure for our clients. We recruit, reward, and develop our people based on merit regardless of race, nationality, religion, gender, age, sexual orientation, marital status or disability. We value our people and treat everyone who works for or with Petrofac fairly and without discrimination.

The world is re-thinking its energy supply and energy security needs; planning for a phased transition to alternative energy sources. We are here to help our clients meet these evolving energy needs.

This is an exciting time to join us on this journey.

We support flexible working requests and have adopted a hybrid approach for most of our office-based roles. We ask employees to be present in the office at least three days per week.

Are you ready to bring the right energy to Petrofac and help us deliver a better future for everyone?

JOB TITLE: Finance Business Partner 

The purpose of the role is analysing project financial performance via financial reports and engagement with wider project teams. FBP – Project Finance is responsible for doing the gate keeping role for projects coordinating with project manager and commercials to ensure project financials are accurate, liquidity and margin monitored for improvement.

Responsibilities will include:

• Managing a team to ensure monthly project financials accuracy before project module is closed.
• Leading and collaborating with finance and commercial team for monthly project closure to ensure all cost and revenue are captured at each month end.
• Standard costing calculation and regular update of cost rates for new joiners and update for existing employees.
• Actuals to Standard Costing reconciliation on a monthly and post journal.
• Reconcile Payroll records to General Ledger charge for all payroll related P/L and BS items.
• Assist in project P/L analysis to identify missing cost or revenue before project close by reviewing PPM (Project) module.
• Review outstanding exceptions and errors in project to ensure transactions are not stuck in current period due to technical issues.
• Review of unbilled transaction to ensure no unexplainable gap between project module (PPM) and General Ledger (GL).
• Oversight of sales and cost accrual of projects. Monthly review of the ageing of unbilled transactions, highlighting risk of liquidity, risk of margin depletion due to ageing, creating provision wherever required and performing gatekeeping role interfacing with commercials to ensure project financials are accurate.
• Sweep transactions and close project as per corporate calendar.
• Ensuring Project Manager and Commercials are timely closing project as per the project close out checklist ensuring revenue/ billing/ Cash alignment and all cost accrued and accounted.
• Revenue/cost accrual/provision for ad hoc items discovered during month end (litigations /accruals for transactions missed by commercial team etc.)
• Annual leave and long service leave accrual
• Prepare weekly payment request to ensure all vendors are paid on time (due every Monday)
• Prepare liquidity report and re-visit each week to ensure positions for AP, AR, payroll and tax, and input from commercial team are updated. (due every Monday)
• Planning for cashflow and liquidity purpose to ensure all vendor payments, payroll and tax obligations are met for Australia and NZ.
• Coordinate with UK Treasury to assist in the cash flow position required as Asset Solution group.
• Corresponding queries/requests regarding payments and liquidity from vendors/project managers /local management.
• Oversee payment release from AP and treasury after board approval each week to ensure all payments proposed are paid or accommodate changes for hold back payments required from treasury.
• Management of Accounts receivable. Follow up queries/requests to / from management/client regarding aged receivables.
• Address ad hoc technical issues or system and process improvement required.
• Assist in audit and year end disclosure and being the interface between finance and commercial for yearend external audits.
• Monthly balance sheet reconciliations as per assignment between the teams.
• Coordinate with Finance compliance team to ensure all relevant business activities are included in the tax filling and disclosed appropriately.
• Review and analysis of overhead projects to ensure costs are captured, timesheet defaulters are notified, and overhead cost are within the budget. Prepare monthly overhead analysis Pack and review with Finance Director.
• Assist Finance Director with Project P&L analysis and monthly reporting packs.
• Initiate process improvements like robust project close out process, oracle additional standardised reporting requirements, automation etc to achieve organisational objective ESSA ( Eliminate , Simplify , Standardise and Automate ).

Essential Qualifications and Skills:

• A recognised degree in Accountancy. 
• Qualified CPA / CA / Nearing completion 
• Overall, 7 to 10 years of core accounting experience with minimum 5 years of experience in Project Finance
• Minimum 2-3 years Oil and Gas Project finance experience
• Financial Acumen - A deep understanding of financial principles, accounting standards, and financial analysis techniques is essential. This includes proficiency in financial modelling, budgeting, forecasting, and variance analysis.
• Business Understanding - A strong grasp of the business of the company, including its industry, market dynamics, and competitive landscape. This enables them to provide relevant and impactful financial advice.
• Communication Skills - Effective communication is critical for this role, as it’s required to convey complex financial information to non-financial stakeholders. This requires strong verbal and written communication skills, as well as the ability to create compelling presentations.
• Analytical Thinking – This role must possess strong analytical skills to interpret financial data, identify trends, and draw meaningful conclusions. This involves critical thinking, problem-solving, and the ability to make data-driven decisions
• Relationship Building - Building strong relationships with key stakeholders is vital for this role. This includes collaborating with department heads, senior management, and other finance team members to ensure alignment and drive business performance.
• Leveraging Technology – This role must stay abreast of technological advancement, such as Oracle ERP system, data analytics tools and financial software, to enhance the effectiveness and drive better business outcomes.
• Financial Analysis and Interpretation – This role must be able to interpret financial statements, including the balance sheet, income statement, and cash flow statement. This involves not only understanding the numbers but also the story they tell about the company’s financial health and performance.
• Cost Management - Effective cost control measures are vital for maintaining profitability. This includes monitoring expenses, identifying cost-saving opportunities, and implementing cost-reduction strategies without compromising quality. Understanding and applying activity-based costing (ABC) in accurately allocating overhead costs to products or services.

#LI-SM2