Applications are invited from suitable and qualified candidates for the Position of Management Accountant at Nestoil..
About Nestoil
Nestoil stands as the foremost indigenous EPCC (Engineering, Procurement, Construction & Commissioning) service provider for IOCs in Nigeria and Sub-Saharan Africa. Renowned for its extensive communication network and widespread offices, Nestoil Limited offers comprehensive EPCC services. The company emphasizes its diverse and motivated workforce, cherishing its multicultural and multinational professional landscape, positioning itself as a global entity in its field.
Summary
- Company: Nestoil
- Job Title: Management Accountant
- Job Type: Full Time
- Qualification: BA/BSc/HND
- Location: Lagos, Port Harcourt-Rivers, Warri-Delta
- Reports to: Finance Manager
- Department/Unit: Accounting & Finance
- Strategic Business Unit (SBU) and Job Locations:
- Nestoil Limited (Operations) – Warri
- Energy Works Technology Limited – Port Harcourt
- Impac Engineering O & M Company Limited – Warri
- Nesto Aviation Services Limited – Lagos
- Scorpio Drilling International Limited – Warri
Job Title: Management Accountant
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.
See Also:
Requirements for the Position of Management Accountant at Nestoil
Qualifications
- B.Sc. or HND in any discipline, plus
- ICAN ACA; ACCA or CIMA’s CGMA professional qualification
Experience
- 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.
Application Closing Date: Friday, 3rd October 2025
What are we looking for?
- Minimum HND/BSc in Accounting, Economics or a related field
- Minimum 5 years of relevant experience in a similar role preferably in the Marine/Oil & Gas Industry
- Relevant professional qualifications e.g. Institute of Chartered Accountants of Nigeria (ICAN), Association of Certified and Chartered Accountants (ACCA), Chartered Institute of Management Accountants (CIMA)
- Experience and knowledge in budgeting, cost accounting, consolidation, performance reporting and financial analysis
- Strong numeric, analytical and problem-solving skills
- Excellent knowledge of automated financial reporting systems. Sound knowledge of federal and state financial regulations
- Ability to function independently and in a team (team player) with good interpersonal skills
- Display of high accuracy of output and attention to details
- Ability to communicate clearly and effectively
- Ability to work with minimum supervision
Deadline
3rd October, 2025
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