Oil & Gas UK Financial Accountant - London

INEOS - Finance
Ref: 1071 Date Posted: Monday 11 Jan 2021
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Organisational Context

INEOS is a global manufacturer of petrochemicals, speciality chemicals and oil products. It comprises of 30 businesses, spanning across 168 sites and 26 countries throughout the world. Our key values include excellence in safety, health and environmental performance; Encouragement of innovation, entrepreneurship and reward for achievement; and empowering employees to create real value.


INEOS Oil & Gas UK (“IOG UK”) is a fully integrated exploration and production company focused on upstream operations in the Southern North Sea (“SNS”) and West of Shetland. IOG UK also manages INEOS’ onshore shale and upstream services businesses. Our business purpose is the responsible, reliable, long-term extraction of natural gas and our strengths include our know-how, extensive geological and technological experience and our commitment to research and development.


Responsibilities and Accountabilities
  • Asset Accounting, responsibility for postings to SAP Asset Accounting Module for additions, disposals, transfers and depreciation
  • Complete the monthly accruals for month-end reporting (i.e. travel, prepayments, intercompany, audit and tax) 
  • Produce the timely submission of the monthly financial statements to HFM in order to provide validity and accuracy to the financial statements for the IOG UK Board and INEOS Capital.
  • Prepare statutory accounts for ~12 UK legal entities under FRS101 using Thomson Reuters OneSource Accounts Production system
  • Prepare consolidated financial statements under IFRS for a UK Holding company.
  • Preparation of supporting audit documentation including accounting papers, UK GAAP reporting and impairment reviews to assist with the audit close process.
  • Complete the monthly Time-writing reporting using Unit4 and SAP  
  • Reporting and calculating the decommissioning provisions by asset / project
  • Assist the IOG Treasury Director with financial compliance and hedging transactions.
  • Assist with Audit team for Group and Statutory Audit
  • Assist the 13-week cash forecasting process for IOG UK. Provide insightful commentary to help the Business Controller explain to the IOG UK Board the main drivers of cash flow in the business.
  • Complete the daily bank reconciliation (automatic loading of the bank statement) to the GL with the allocating to outgoing and incoming payments
  • Advise on accounting treatment for extraordinary and non-routine business transactions
  • Undertake ad-hoc projects
  • Complete the monthly VAT return and assist with six-month PRT returns
  • Maintain vendor master data file in SAP with the approved authorisation
  • Complete the monthly intercompany AR invoices
  • Complete the quarterly and annual Office for National Statistics returns
  • Adhoc support for Oil & Gas M&A activity as needed.


Skills & Knowledge Required
  • Business Degree in Finance, Accounting or equivalent
  • Qualified accountant (ACA)
  • Experience in a major international group
  • Ability to use modelling tools and present outcomes simply and concisely
  • Ability to use SAP (reports & workflow usage required)
  • Advanced Microsoft Excel and Powerpoint skills
  • Highly numerate with a high degree of accuracy and attention to detail
  • Analytical
  • Excellent communication skills (written and verbal)
  • Keen problem solver
  • Team player


Please apply and submit your CV.