ARC Analyst

Entity:

Finance

Job Family Group:

Finance Group

Job Description:

Entity Information

Join us in a crucial time of transition. We are bringing all our finance and procurement activities for the group into one place, enabling better work.

For you this means working with us on:

• Compliance – efficiently delivering external reporting requirements to ensure we continue to meet our regulatory ‎obligations in all jurisdictions, supported by robust control environment across all three lines of ‎defense.‎
• Stewardship – laying out a robust finance framework and providing ongoing management of the balance sheet and ‎portfolio execution, supported by effective advocacy to the market.‎
• Performance – facilitating the effective allocation of capital, development of business plans and coordination of ‎business performance interventions to ensure a consistent delivery between strategic aspirations, ‎operational forecasts and delivered outcomes. Furthermore, you will be responsible for value creation through mergers and acquisition-led ‎deals, commercial negotiations and integration of business opportunities.‎
• Transformation – driving digital transformation (centralizing, digitizing, optimizing) across all elements of the finance entity to ‎achieve sector-leading cost-performance.‎

Let me tell you about the role

The Sr. ARC Analyst is responsible for managing end-to-end process in General Accounting and Reporting of the assigned entities, resolving complex issues as and when vital, and supporting the delivery of timely and accurate statutory accounts and tax analysis while ensuring adherence to policies and procedures in the drive for exceptional customer service, operational excellence and compliance.

What you will deliver

Accounting & Reporting:

• Manage accounting/reporting of revenue and receivables for gas, condensate and crude. Interact with the Operator to get all the required information in a timely manner. Ensure timely booking of revenue and receivable transactions (including take or pay obligations).
• SPA for all revenue and receivables from the perspective of accounting, reporting and controls. Monitor receivables and ensure that these are collected in time. Co-ordinate with the business teams, customers and Operator to resolve any queries.
• Manage the Cash Call review and approval process. Ensure timely payment of cash calls to the Operator. Ensure remittance of surplus funds to the group. Obtain the relevant certificates/forms required for inward/outward remittance of funds to the group. Also, responsible for the payment of profit petroleum on a quarterly basis.
• Participate in the monthly and quarterly financial close process, providing robust assurance on the integrity of the reported financial results. Responsible for providing information required by the tax team on a quarterly basis for the closing and for any other requirement. Support in review and booking of Joint Interest Billing Statement and preparation of related journals.
• Perform variance analysis and provide commentary by understanding and accurately reporting business activity.
• Preparation of financial documents and audit schedules for Indian GAAP Statutory Audit, UK GAAP Statutory Audit, tax audit and assist in completion of audits within agreed timelines and in compliance with IFRS, Indian GAAP and additional requirements.
• Provide timely, accurate, and reliable financial and management information.

Fund Management:

• Ensure efficient management of funds. Prepare cash forecast for submission to the treasury team. Co-ordinate with the treasury team in booking of forex and any other query relating to banking. Also, ensure compliance with forex regulations from the perspective of Project Office.
• Responsible for preparation of required RBI (Reserve Bank of India) and AD (Authorized Dealer) bank submissions - Annual Activity Certificate, Surplus funds remittance Certificate, A2 forms, surplus remittance undertaking for each remittance to group and other related AD bank/RBI submissions.
• Responsible for issue of Bank Guarantees and remittance of funds to SRF (Site Restoration Fund) account

Audit Support:

• Deal with auditors’ requirements for the assigned areas. Responsible for review of fund financials. Obtain actuary report for India statutory financials.

Control Environment:

• Maintain a strong control environment for the processes assigned, increasing the use of leading analytics and insights. Ensure that the controls are in compliance with Group Policies. Effectively identify and mitigate control risks. Maintain relevant set of control processes and always seek continuous improvement.
• Support review of Balance Sheet Assurance (BSA) Reconciliations.

Continuous Improvement:

• Opportunities to improve their own processes to create efficiencies and control improvements within their own area of work.

Any Other Business:

• To align with any other job-related requirements. This may be defined by one’s relevant team lead or process lead.

What you will need to be successful (experience and qualifications)

Must have educational qualifications:

• Qualified Chartered Accountant with around 8 to 10 years of relevant post qualification experience

Minimum years of relevant experience:

• 8 years of relevant post qualification experience in Financial Reporting, Controlling and Audit Support.

Must have experiences/skills (To be hired with):

• Previous experience of working in an E&P (Exploration & Production) business
• Understanding of joint ventures and Joint Operating Agreements
• Knowledge of IFRS, Indian GAAP and Companies Act
• Good solid understanding of financial accounting systems (e.g., SAP, FBW) and ability to analyze and interpret financial data
• Possess good written and verbal communications skills
• Innovation and change management competencies
• Proven track record of solving problems

You will work with

• You will be working with a team of finance professionals as part of the Finance Business & Technology (FBT) organization. Finance business & technology (FBT) is an integrated part of bp, driving business solutions that result in great outcomes across the globe.
• The role will regularly interact and be the main contact point for Business/Functions leadership team.
• In addition to the FBT team, you will also be partnering with the local finance team and various technical and leadership teams in onsite locations.

Additional Information

At bp, we provide the following environment and benefits to you:

A company culture where we respect our diverse and unified teams, where we are proud of our achievements and where fun and the attitude of giving back to our environment are highly valued

Possibility to join our social communities and networks

Learning opportunities and other development opportunities to craft your career path

Life and health insurance, medical care package

And many other benefits.

We are an equal opportunity employer and value diversity at our company. We do not discriminate based on race, religion, colour, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.

We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, perform crucial job functions, and receive other benefits and privileges of employment.

Travel Requirement

Up to 10% travel should be expected with this role

Relocation Assistance:

This role is eligible for relocation within country

Remote Type:

This position is not available for remote working

Skills:

Accounting for financial instruments, Accounting for financial instruments, Accounting policy, Agility core practices, Agility tools, Analytical Thinking, Analytics, Business process control, Business process improvement, Commercial Acumen, Commercial assurance for external reporting, Communication, Creativity and Innovation, Credit Management, Curiosity, Customer centric thinking, Data Analysis, Data visualization and interpretation, Decision Making, Digital Automation, Digital fluency, Financial Reporting, Influencing, Internal control and compliance, Long Term Planning {+ 4 more}

Legal Disclaimer:

We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, socioeconomic status, neurodiversity/neurocognitive functioning, veteran status or disability status. Individuals with an accessibility need may request an adjustment/accommodation related to bp’s recruiting process (e.g., accessing the job application, completing required assessments, participating in telephone screenings or interviews, etc.). If you would like to request an adjustment/accommodation related to the recruitment process, please contact us.

If you are selected for a position and depending upon your role, your employment may be contingent upon adherence to local policy. This may include pre-placement drug screening, medical review of physical fitness for the role, and background checks.