Manager FP&A Production Revenue Royalty Accounting

PetroChina Canada (PCC) is a wholly owned subsidiary of PetroChina Company Limited which is partially owned by China National Petroleum Corporation (CNPC), a state-owned enterprise. CNPC is China’s largest oil company and the world’s third largest oil company, operating 91 energy-related projects in over 35 countries and regions. PCC has invested billions of dollars in an asset-rich portfolio of upstream, midstream and downstream operations. In Alberta, this includes our MacKay River and Dover oilsands projects, Duvernay Shale Gas and a 50% interest in the Grand Rapids Pipeline. In British Columbia, we hold joint venture interests in the Groundbirch tight gas project and LNG Canada.

PetroChina Canada is recruiting for a Manager, Financial Planning & Analysis Production Revenue Royalty Accounting (Manager, FP&A PRRA) to join the Finance Team in Calgary.

Reporting to the Director, Finance & Accounting, the Manager, FP&A PRRA will have responsibility for leading a team of seven individuals. Direct reports include both those in formal leadership roles as well as individual contributors. Areas of leadership responsibility include Oilsands and Duvernay FP&A as well as Production Revenue Royalty and Marketing Accounting. The position will have overall responsibility to lead, coach and mentor the direct reports while ensuring strong support for both the Finance organization as well as the respective Asset teams. 

This position will be responsible for developing and supporting financial planning, budgeting, forecasting and management reporting, and providing oversight and governance over the revenue, royalty, marketing accounting functions. As well, the incumbent will be heavily engaged with both commercial and contractual issues related to the respective Assets. This position will contribute to driving financial analysis within the company to identify solutions to improve financial and operating performance.

Accountabilities

Leadership

• This role will have formal leadership responsibilities, including leading direct reports who are themselves in formal leadership roles
• Provide leadership, coaching and mentoring to the FP&A team which is comprised of several Finance Representatives and JV accountants, as well as the PRRA team which is comprised of Production Revenue Royalty accountants as well as a Marketing accountant
• Support team members in their roles through issue identification, decision making, issue resolution, prioritization, workload balancing, employee growth and development, along with other related leadership support as required
• Ensure the asset teams are fully supported from a finance perspective   

This position will have overall responsibility for the items listed below, achieved mainly through the direct reports, but also through “hands on” involvement to perform some of these functions, depending upon the skills and capacity of the direct reports

Budget & AFE Management

• Support preparation and validation of annual work program & budget.  Challenge assumptions from business to ensure accuracy of budgets and alignment with strategic direction,
• Ensure sufficient documentation and approval of annual budget along with communication and distribution of approved budget programs to the business units,
• Advisor to the business on costs included in capital, exploration expense, research and development and abandonment AFEs/projects, as well as operating expenses,
• Support business unit projects in reviewing AFEs, SAP work breakdown structure, budget change requests, AFE supplements,
• Prepare AFE status reports to enable prompt analysis of costs by AFE and proactively identify potential cost overruns,
• Establish, maintain and recommend changes to Investment Management Hierarchy (Expenditures Coding), WBS and cost center hierarchy, within the SAP system,
• Load capital budget in SAP to correct IM Hierarchy and releases budget funds upon approval of AFE,
• Ensuring compliance with AFE standards

Other Financial related activities & analysis

• Ensure proper revenue and royalty accounting
• Initiate and support monthly forecasts for assigned asset and/or functional areas.
• Monitoring of operating costs, understanding key cost drivers providing through analysis to identify solutions to improve operating and financial performance,
• Prepare monthly, quarterly, annual and adhoc financial presentations for senior leadership meetings providing insightful variance analysis of actual to plan,
• Proactively analyze business performance and key performance metrics to provide analytical, strategic and financial support,
• Identify risk, challenges, opportunities in monthly report for senior management,
• Work with both business and finance teams to identify and record relevant monthly accounting entries,
• Ensure asset related financial statements are complete and accurate and finalized within monthly and annual deadlines,
• Coordination and preparation of detailed operating and functional view of financial statements and key performance indicators, along with other financial information, as required,
• Establish balance sheet integrity through a comprehensive understanding and governance of relevant balance sheet account balances,
• Address all queries from HQ and auditors (internal and external) are addressed in a timely manner,
• Confirm governance requirements through implementation and compliance with financial controls,
• Provide strong support and involvement in the annual external financial audit process,
• Contribute to the continual improvement of the Finance team by proactively identifying and sharing process improvement opportunities,
• Supports the maintenance of all documentation for budget management policies, procedures, standards and templates and updates when necessary for operations;

Other value add Support

• Strong understanding and application of underlying joint venture, commercial, marketing and other key agreements,
• Ensure familiarity with existing contracts and agreements and provide oversight to ensure contractual terms are being fully utilized and considered,
• Utilize financial, joint venture and contractual skills and knowledge to safeguard the company’s assets, while identifying opportunities to maximize asset value,
• Employ negotiation skills to support the asset team,
• Engage in contractual and commercial negotiations as required;

Qualifications

• Joint Venture asset experience required
• Professional accountant designation required, along with a working knowledge of IFRS for upstream oil and gas
• 10 years’ relevant financial reporting/budgeting experience within an oil and gas exploration, development and operations environment
• In-depth knowledge of oil and gas operations as well as relevant management reporting requirements and proven ability to deliver timely and insightful reports
• Track record of operations related opportunity identification, initiative, ownership and resolution
• Strong experience with joint venture agreements
• Proven influencing and negotiation skills
• Ability to effectively work in a multi-disciplinary team environment, and with individuals at all levels within an organization
• Hands-on experience with SAP an asset
• Strong interpersonal and communication skills (written and oral); experience in effectively communicating key data, including presentations to both operations management and executive leaders
• Keen analytic, organization and problem solving skills
• Proven leadership skills with a commitment to mentoring, training, and coaching other team members
• Confident, detail orientated and enthusiastic team player
• Flexible and able to manage multiple priorities simultaneously and meet the time demands of unpredictable activities; capable of handling pressure and challenges in a dynamic business environment
• Adoption and demonstration of PetroChina Canada Values (Honorable, Unified, Passionate, Accountable)