Cost Recovery Accountant

  • Location:

    West London, London

  • Sector:

    Energy & Natural Resources

  • Job type:


  • Salary:

    £60000 - £75000 per annum + Bonus, Pension, LTIP

  • Contact:

    Chris Brannigan

  • Job ref:


  • Published:

    5 months ago

  • Expiry date:


  • Start date:


  • Consultant:

    Chris Brannigan

A global Oil & Gas business with an strong portfolio of production assets are seeking a proactive, self-motivated, team-oriented Cost Recovery Accountant to coordinate the G&A audit, reporting and budgeting of first spend G&A in the UK.

The role has come about owing to an internal promotion.

You will also interact with primary stakeholders as a Finance Business Partner in what is a collaborative and high growth environment.

The business is going through a period of expansion and the are seeking someone to grow with them.

The reward package is outstanding with, in addition to the base salary, additional cash allowances of £7,500, a 25% bonus and a pension scheme where your contribution is tripled. They also offer a long term incentive plan.

You will provide insightful analysis to support and drive a culture of cost management and accountability, whilst focusing on process improvements to create opportunities for value added activities by:

  • Leading and managing the annual General & Administration (G&A) audit ensuring the external auditors have all the requested information from various parts of the business and all the queries are resolved
  • Monitoring and supplying the recommendations of cost recovery rates that impact joint venture partners and communicating with finance leadership team on their appropriateness
  • Calculating cost recovery rates monthly to ensure that cost recovery is appropriate and in line with budget. Also, adjusting over/under recovery of costs monthly and ensuring the appropriate allocation of the monthly accruals to projects/assets
  • Providing support and reconciliations for Joint Venture audits in relation to time writing rates/hours charged to relevant JVs
  • Coordinating and collating G&A budgets and outlooks templates for selected costs centres, assisting cost centre managers with submissions, reviewing returned templates, preparing and analysing consolidated results for net residual G&A and preparing presentation materials for senior management
  • Liaising with HR to collate and present headcount information, including the treatment of unfilled positions
  • You will also prepare an analysis of consolidated UK Net Residual G&A vs. budgets and outlooks for the current month, year to date and total year along with the preparation, review and consolidation of monthly results for cost recovery for multiple legal entities
  • Presenting monthly analysis to UK Finance management and monitoring cost centre budgets and meeting with cost centre managers to explain variances to budget and outlook

Who are we looking for?

  • Qualified accountant (ACA, ACCA, CIMA)
  • A self-starter who has the ability to analyse, investigate, problem-solve and report accurately against tight deadlines.
  • A highly organised individual who knows the importance of structure, process & confidentiality.
  • Someone who has the ability to retain a high-level view on issues whilst retaining attention to the detail and ensuring the integrity of information produced
  • An ability to liaise with all levels across the group and integrate well as part of a team
  • Proficiency in advanced Microsoft Excel and PowerPoints and working in a Sarbanes-Oxley environment


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