MSELECT is hiring a Reporting Section Head for an international oil and gas operator in Basra. Candidates must have a minimum of 6 years of accounting experience in the Oil and Gas industry and be fluent in English.
JOB OBJECTIVE
To assist Finance Manager in monthly, quarterly & yearly reporting of Financial results to Management, Head Office and Regulatory Authorities. To report progress against budget & manage Asset Performance by timely highlighting opportunities and threats toward achieving annual Financial KPIs.
KEY ACCOUNTABILITIES
People Management
- Supervise the activities and work performed by direct reports to ensure that it is carried out in an efficient and effective manner, in line with section’s policies and procedures & Asset’s expectations.
- Recommend training and development interventions for team members to build their capabilities.
Budget Preparation & Monitoring Progress
- Assist Planning team in budget preparation for Siba and supervise the compilation of updated actual versus budget status and forecast for rest of the year
- Ensure that records on all matters relating to expenditure, budgets, and forecasts are kept updated and accurate to facilitate reference and auditing.
Performance Management
- Provide frequent visibility to Management on status / progress of Asset’s target KPIs. Identify opportunities & threats to Management in a timely manner towards delivery of financial KPIs.
- Highlight opportunities for cost savings / efficiencies to management.
- Provide monthly financial reports to Asset Management.
- Maintain up to date forecast for full year Opex and Capex spend & In-year Cash flow.
JV & Corporate Reporting
- In liaison with the Accounting teams, supervise the compilation of cost expenditures against department budget for each department, draw up reports on each department and submit the same to concerning department manager as well as to General Managers on a monthly basis.
- Provide clarification on reports and if needed additional information to department managers
- Prepare and submit all required periodical reports to JV partners & JMC in time and comply to the reporting guidelines and formats as per applicable policies, procedures and relevant agreements.
- Prepare and submit accurate & quality monthly, quarterly reports to Head Office in a timely manner and respond to ad-hoc requests as & when required.
- Provide support in delivery of QPR materials.
- Liaise with all concerning asset departments to ensure accurate information, in time reporting and to coordinate the justifications for variances between plans and actual as part of the reports.
- Liaise with BOC officials & JV partners and coordinate the answers on clarifying questions in order to provide one consistent answer or viewpoint and contribute to periodical meetings with JMC officials on reported information.
Cash Calls
- Review / compile cash call information from asset and various other sources and prepare monthly cash call forecast for Siba operations so that sufficient cash is made available at appropriate time.
Monthly Closing
- Coordinate and verify monthly accrual journal and reconcile the accrual account to ensure that users have the most accurate information regarding their respective AFEs.
- Provide a report on VOWD (value of work done) to management for each project on a monthly basis.
Spend Analyses
- Support users in preparing spend analysis reports for management review.
- Benchmarking major spend areas with Industry peers and own historical data.
AFE Management
- Coordinate AFE close out with respective users to ensure timeliness of the close out process.
- Prepare Actual v/s AFE cost comparison templates for drilling and other major projects.
- Support & follow-up with users for timely preparation of AFEs.
- Highlight expected cost over-runs and support users in preparing Supplement AFEs.
Policies, Systems, Processes and Procedures
- Contribute to the identification of opportunities for the continuous improvement of systems, processes and practices to increase productivity and operational efficiency.
- Implement all relevant policies, processes, procedures and instructions so that work is carried out in a controlled and consistent manner.
Health, Security, Safety and Environment.
- Follow all relevant company’s health, security, safety and environmental policies, processes, procedures and instructions to ensure Health and Safety compliance in all aspects of work by applying them on self, others and corporate assets.
QUALIFICATIONS, EXPERIENCE & SKILLS
- A master’s degree in Accounts/finance/management or CA/CPA qualification or equivalent.
- 6-8 years of accounting experience in the Oil and Gas industry
- Advanced financial analysis skills
- Knowledge and understanding of financial policies and regulations
- Knowledge and understanding of local regulatory policies
- Excellent communication skills
- Coaching and mentoring skills
- Good attention to detail
- Excellent analytical capabilities and problem-solving abilities
*Only applicants meeting the strict criteria outlined above will be contacted as part of the shortlisting process