Job title: Management Accountant Job at Nestoil Plc
Company: Nestoil Plc
Job description: Nestoil Plc was incorporated in Nigeria in 1991 for the provision of Engineering, Procurement and Construction (EPC) services to the energy and oil & gas industry. Since then, Nestoil has grown to become the leading indigenous EPC provider for major IOCs (International Oil Companies) in Sub-Saharan Africa like National Petroleum Company (NNPC) Shell, Exxon Mobil, Chevron, Total, etc.Our Strategic Business Unit (SBU), Scorpio Drilling International Limited, is recruiting to fill the position below:Job Position: Management AccountantJob Location: Warri, Delta
Reports to: Finance Manager
Department/Unit: Accounting & FinanceJob Summary
- The Management Accountant is responsible for providing accurate and timely financial information to support internal decision-making and business planning.
- The role analyses financial data, prepare budgets and forecasts, monitor costs, and provide variance analysis to help management optimize performance and achieve organizational goals.
- The role acts as a bridge between finance and operations, ensuring financial strategies align with business objectives.
Key Responsibilities
Management Accounting:
- Prepare monthly management accounts, including income statements, statement of financial position, and statement of cash flows.
- Ensure accuracy of journal entries, accruals, prepayments, and intercompany charges.
- Reconcile statement of financial position accounts on a monthly basis.
Budgeting & Forecasting:
- Assist in the preparation of annual budgets and rolling forecasts in collaboration with department heads.
- Monitor and report on budget variances and provide analysis on the causes of variances.
- Support scenario planning and financial modelling as required.
Financial Analysis & Reporting:
- Provide timely and accurate financial and operational reports to support business performance monitoring.
- Analyse financial results and KPIs, and provide actionable insights to improve financial outcomes.
- Provide insight into project performance and recommend corrective actions where needed.
- Conduct profitability analysis and support decision-making with financial data.
- Prepare ad-hoc reports for senior management and stakeholders.
Cost Accounting & Control:
- Analyse and monitor direct and indirect costs, overheads, and profitability by Projects.
- Monitor and control operational and production costs, identifying opportunities to improve efficiency and reduce expenditure.
- Support procurement and cost allocation processes for project-related expenses.
- Provide Project Leads with up-to-date and accurate expenditure records.
- Identify and flag cost overruns, inefficiencies, and financial risks.
- Provide insights into cost drivers and suggest corrective actions for cost overruns.
- Support pricing decisions through cost and margin analysis.
- Implement cost-saving initiatives and identify areas for operational efficiency.
Project Accounting & Project Financial Management:
- Set up and maintain Project Cost Centers/Accounts in the ERP financial system.
- Monitor Project budgets, costs, revenues, margins, and cash flow throughout the Project lifecycle.
- Prepare regular Project financial reports including actual vs. budget, variance analysis, and forecasting.
- Work with Project Managers to update budgets and forecasts based on Project performance and changes in scope or timelines.
Billing & Revenue Recognition:
- Generate Client invoices based on Contract terms, Project milestones, and percentage-of-completion (POC) accounting.
- Ensure revenue recognition complies with applicable accounting standards (e.g., IFRS 15).
- Track and report Project billing, work-in-progress (WIP), and deferred revenue.
Inventory Valuation & Control:
- Perform monthly and quarterly inventory valuations in line with accounting standards.
- Reconcile physical inventory counts to the general ledger and investigate discrepancies.
- Track and analyse inventory variances such as material usage, scrap, and obsolescence.
- Ensure accuracy of inventory accounting, including WIP (Work in Progress) and finished products.
Internal Controls & Compliance:
- Ensure compliance with internal policies, procedures, and financial controls.
- Support internal and external audits by preparing necessary documentation and schedules.
- Maintain proper documentation of contracts, change orders, and financial approvals.
- Assist in maintaining and improving internal control systems.
Systems & Process Improvement:
- Leverage ERP systems and financial tools (e.g., SAP) to streamline accounting and reporting processes.
- Identify and implement opportunities to improve automation, accuracy, and timeliness of reports.
Stakeholder Engagement:
- Work closely with business unit leaders and non-finance teams to communicate financial performance and support planning decisions.
- Build strong relationships across the organization to facilitate financial transparency and understanding.
Qualifications / Experience
- B.Sc. or HND in any discipline, plus
- ICAN ACA; ACCA or CIMA’s CGMA professional qualification
- 5 to 7 years of progressive work experience in Accounts/Finance function
- Knowledge of ERP Systems (e.g., SAP ByD)
Key Skills & Competencies:
- Good knowledge of Generally Accepted Accounting Principles.
- Good knowledge and understanding of the International Financial Reporting Standards (IFRS).
- Highly numerate with good analytical skills.
- High proficiency in the use of the Microsoft Office Suite especially Microsoft Excel, Microsoft Word & PowerPoint.
- Ability to analyze financial data, interpret financial reports and familiarity with Power BI or other reporting tools.
- Commercial awareness and ability to link financial data with business performance.
- Good problem-solving skills and results oriented.
- Ability to produce high quality output under pressure and sometimes with inadequate resources.
- Ability to work effectively in a team.
- Good Communication and Interpersonal skills required in liaising with people at different levels within and outside the Organization.
- Ability to explain complex financial data to non-finance stakeholders.
- Strategic thinking with a commercial mindset.
- Ability to lead and coach direct reports to improve efficiency and competence.
- Ability to meet deadlines and manage multiple tasks.
- Intuitiveness and attention to detail.
- High level of integrity and ability to maintain confidentiality.
- Strong professional ethics, accountability, and dependability.
Note: Candidates should indicate preferred Job Location on their CV/application.
Expected salary:
Location: Warri, Delta State
Job date: Wed, 01 Oct 2025 05:01:50 GMT