Job Description

The Principal Accountant is responsible for interpreting internal or external business issues and recommending best practices. They will be tasked with solving complex accounting-related problems and will work independently with minimal guidance. The Principal Accountant may be responsible for leading functional teams or projects and is regarded as a specialist in the field of accounting. As such, they must have in-depth expertise in accounting as well as broad knowledge of the accounting discipline within the finance function.

Key Tasks and Responsibilities:

• Maintenance of all tax and related accounting records on a jurisdictional and/or entity basis.
• Preparation of standalone and consolidated statutory accounts for larger legal entities, ensuring these are fully audited, signed off by all parties and filed with the relevant authorities before the due date.
• Preparation, review, sign off and filing of all more complex tax returns for each of the relevant jurisdictions in which McDermott have operations with tax reporting responsibilities
• Calculation of corporate tax liability, on a statutory basis, in respect of all actual and forecast taxable income or expense.
• Arranging payment of advance taxes, where relevant, and make settlement of all tax liabilities.
• Liaise with professional advisors to agree tax assessment amounts and obtain tax clearance certificates as soon as possible after filing the relevant tax returns.
• Prepare reconciliations of General Ledger indirect tax accounts on a monthly basis.
• Prepare and submit WHT, VAT, and Service Tax returns to satisfy all legislative reporting requirements and arrange payment of all amounts falling due in the respective jurisdictions.
• Prepare and progress tax deduction certificates, Challan for with-holding taxes paid, employee tax returns and sundry reporting in support of departmental activities.
• Liaise with the bidding department and prepare / review the tax calculations and ensure all taxes are included in the bid.
• Assist with departmental tasks as may be assigned on an Ad Hoc basis from time to time.
• Monitor and lead the month-end close process, including communication with stakeholders, preparing status and dashboards, and reporting to the Record to report Group Purchasing Organization (GPO)
• Establish and monitor month-end accounting checklists
• Lead analysis and establish a process for continuous monitoring
• Lead the team to document existing processes and Standard Operating Procedures in Accounts
• Maintain the balance sheet reconciliation policy, risk ranking, and quality; educate team members
• Establish and monitor KPIs for the Accounting function
• Maintain evidence of controls performed and assist in the SOX testing and quarterly and year-end audit process by both internal and external auditors
• Coordinate internal and external training of the accounting team on relevant topics

Essential Qualifications and Education:

• Bachelor’s degree in Accounting or Finance required, CPA preferred
• 5-6 years of relevant experience
• Intermediate to advanced excel skills preferred
• Good communication skills
• Enjoy working in a changing and flexible environment
• Good problem-solving skills
• Qualified Chartered Accountant or equivalent qualification from internationally recognized institute
• Around 6-10 years of relevant post qualification experience

• Good understanding of IFRS

• Detailed experience in own discipline
• Ability to multitask and manage tight reporting schedule
• May undertake projects and shares expertise

• Ability to work independently with minimum amount of supervision

• Liaise with: Local and corporate tax groups, project management and project accounting teams, bidding department team, tax consultants, professional accountants & statutory bodies

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