Senior Accountant
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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: Senior Accountant -Transfer Pricing
Key Responsibilities
* Manage the implementation of the Transfer Pricing policy across Asset Solutions globally, liaising with colleagues in Asset Solutions Finance teams and Group-wide Finance colleagues, as necessary
* This role is responsible for ensuring that transfer pricing (TP) obligations are managed proactively and effectively across the Asset Solutions business unit’s operations. The role will liaise with other functions as needed, such as the Tax specialists and wider Finance teams, to implement the require processes and activities to deliver these requirements.
* TP documentation and processes
* Gain a full understanding of the group TP policy, using the literature and training material provided
* Liaise with Group Tax TP specialist where required
* Co-ordinate a review of the existing, and the preparation of all new, intercompany agreements, with Legal, Tax and Treasury departments
* Develop the approach and prepare process documentation and templates for the team to follow, agree timetable and arrange education sessions with relevant Finance teams
* Automate the TP process where possible, collaborating with all stakeholders to assess practicality and methodology/procedure as per system functionality and capability
* Review the service agreements to ensure they are aligned to the Group TP policy
* TP adjustments
* Close out legacy work, e.g.:
* Prior year TP charging via invoicing and intercompany agreements and any true-ups required to existing adjustments
* Prepare an overview of prior period TP adjustments – see reporting below
* Work with relevant Finance Business Partners and other Finance colleagues to establish the how the TP policy should be applied to the portfolio of projects across the business unit and calculate the necessary adjustments and back up support accordinglyAssess and record the reallocation of shared service centre costs across business unit entities, including those cost recharges received from outside the business unit, in line with TP policy
* Review of intercompany loans and TP implications for intercompany interest, and manage appropriate entries and charging, if any
* Work with the Tax team to establish the impact of TP adjustments on local tax filing positions
* Collaborate with Statutory Accounting and General Ledger teams, and any other stakeholders to implement the TP related steps
* Map out TP charging between intercompany entities in relation to current year and prior year within Asset Solutions and between Asset Solutions and other Group entities
* Develop management reporting on TP adjustments
* Develop and implement a TP tracker to monitor relevant transactions and compliance with policy and local requirements
* Ad hoc analysis of the transfer pricing impact on new or prospective activities, alongside the Tax team
* Operate within a culture of continuous improvement, to seek ways of improving systems and processes
* The above is an outline of key duties and accountabilities, rather than an exclusive or exhaustive list of responsibilities. The postholder is expected to undertake any tasks which may reasonably be expected within the scope of the position.
Essential Qualifications And Skills
* Qualified accountant (ACAS, ACCA or CIMA), would consider AAT Level 4/equivalent
* Sound technical ability
* Strong organisational capabilities
* Good judgement and decision making skills
* Strong communication skills and a strong team player
* Ability to work under pressure
* Excellent analytical skills and the ability to meet deadlines through planning, organisation and persistence
* High level of computer literacy particularly with Excel
* Experience with Oracle, highly preferablePrevious experience working with an international business with multiple intercompany transactions
* TP experience, highly preferable
Additional Information
Seniority level
* Seniority level
Mid-Senior level
Employment type
* Employment type
Full-time
Job function
* Job function
Accounting/Auditing and Finance
* Industries
Oil and Gas
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