MSELECT is looking to hire a Finance Manager for an international oil and gas operator in Basrah. Candidates must have 10 plus years of experience in the upstream Oil & Gas financial operations and minimum 5 years in Managerial role and be fluent in English.
JOB OBJECTIVE
To effectively manage overall financial aspects of the asset and maintain financial discipline in day to day activities of business in accordance with applicable regulatory requirements as well as international best practices.
KEY ACCOUNTABILITIES
Description
Policies, Systems, Processes & Procedures
- Develop and implement Asset’s financial policies and procedures in line with Group’s requirements and expectations.
- Recommend continuous improvements to financial policies and procedures and direct the implementation of procedures and controls covering all areas of finance so that all relevant procedural/legislative requirements are fulfilled while delivering a quality, cost-effective service.
People Management
- Manage the activities and work performed by direct reports to ensure that it is carried out in an efficient and effective manner, in line with Asset’s and Group’s expectations.
- Recommend training and development interventions for team members to build their capabilities.
- Contribute to knowledge dissemination/sharing in a way that assists building internal capabilities of employees where applicable and maximize their performance.
Financial Control
- Develop and implement robust financial control framework and processes across Asset that provide assurance that all transactions are authorized, in compliance with applicable contractual and other regulations and properly recorded in the books in accordance with applicable financial reporting standards and local regulations.
- Monitor and track endorsed budgets periodically for identification, analysis, commentary, explanations and mitigation of any variances and consideration of financial results for the generation of a holistic view of Asset’s performance.
- Oversee and manage the cost controlling activities for CAPEX and fixed assets by employing project accounting tools, reviewing budgets, conducting actual vs. planned variance analysis, verifying compliance, and approving and release the budget in alignment with the financial controlling policy.
Reporting- Statutory/EDPC/JOA and Management
- Maintain and develop a high standard of financial and management reporting in terms of integrity, speed, relevance and quality ensuring that the reporting systems serve the needs to the business
- Manage the assimilation, communication and reporting of performance against Asset’s annual budget to all cost/profit centers to ensure that the annual budget reflects all anticipated commercial and operational activities.
- Support delivery of target financial KPIs for the year. Provide regular visibility on progress to management and highlight opportunities and threats.
- Provide guidance to Asset in monitoring budget. Highlight opportunities for synergies and cost optimization to management.
- Perform financial analysis, forecasting, trend analysis as may be required in a timely manner and in line with Asset and Group’s policies and procedures.
- Provide support to Asset during Quarterly Performance Reviews and JV meetings (OCMs, JMC etc.).
- Ensure that all financial statements of the Company are timely completed and comply with all the EPDC, JOA, company policy and international Accounting and Financial reporting standards.
- Oversee reporting activities for the Asset and ensure that reporting complies with group accounting and reporting policy.
- Ensure that periodical progress reports are prepared and sent to keep top management informed about the progress of various projects and to facilitate decision making.
Treasury Management
- Ensure Cash Call are timely raised
- Ensure all vendor and employee are paid timely
- Ensure Block is always cash liquid
Tax Management
- Ensure all tax compliances are met
- Ensure all taxes are paid timely
- Ensure all the necessary certificates etc. are issue timely to vendors
Insurance
- Ensure the Asset/Block is always adequately insured as per the policy of company and is following process agreed with BOC and in EDPSC/JOA.
Audit
- Assist internal and external auditors in ensuring that audits are completed timely through collaborating sufficiently and providing the necessary support.
Health, Security, Safety and Environment
- Ensure compliance with all relevant health, security, safety and environmental management policies, procedures and controls within own area, monitoring, reviewing and evaluating on a continuous basis, to guarantee employee safety, legislative compliance, delivery of high quality service and a responsible environmental attitude.
Stakeholder Management
- Liaise and build relationships with group companies, JV Partners and management to ensure robust financial control, accurate and timely reporting and the propagation of best practice.
- Manage the relationship with external service providers such as external auditors, BOC Auditors, Head Office, consultants, Bank etc.
- Develop a channel for seamless communication with Head Office and respond to their Ad-hoc queries on a timely basis.
COMMUNICATIONS & WORKING RELATIONSHIPS
Internal
- Asset President / General Managers / Regional Head of Finance
- Regional finance team
- Commercial
- Legal
- Other Asset teams
External
- Auditors
- Banks
- JV Partners
- Government Officials
- Tax Consultants
DECISION MAKING AUTHORITY
- The Finance Manager reports to the General Manager / Deputy General Manager/ Regional HoF and confers with the latter on critical and strategic issues.
- The job holder is accountable for effective implementation and management of Accounting & Financial policies & procedures to facilitate achievement of Asset’s business objectives as well as timely financial reporting for management decision making.
QUALIFICATIONS, EXPERIENCE & SKILLS
Minimum Qualifications
- Fully qualified accountant (CA/CPA or equivalent).
Minimum Experience
- 10 plus years of experience in the upstream Oil & Gas financial operations and minimum 5 years in Managerial role.
Job-Specific Skills
- Strong understanding and knowledge of EDPSC, JV, IFRS/GAAP accounting standards specifically related to Oil & Gas activities.
- Good knowledge of SAP ERPs platforms.
- E&P finance/accounting sector experience
- Excellent knowledge of Joint Venture accounting
- High analytical capability
- Risk Analysis and Management
- Regulatory and Compliance awareness
- Good planning and Project management skills
- Good communication and presentation skills
- Good interpersonal skills.
- Team management skills
Reports to
- General Manager A&S & Regional Head of Finance (functional)
Department
- Finance
Section
- Finance
*Only applicants meeting the strict criteria outlined above will be contacted as part of the shortlisting process