Chief Financial Officer (INFRACO)

Job Purpose

Ensure the development of BLD financial budgets and plans, as well as the consolidation, compliance and reporting of all aspects of Business Line Directorate (BLD) financial operations. Lead on the implementation of Group F&I initiatives within the BLD, the development of the BLD investment pipeline, and guide Group Company Finance teams on any F&I related matters (e.g. financial planning, budgeting and reporting), in order to deliver BLD financial targets and ensure consistency, coherence and accuracy in financial operations and alignment between the BLD and the ADNOC Group F&I Directorate.

Job Specific Accountabilities (Part 1)

Financial Planning, Budgeting & Reporting

• Ensure the development of and review the overall, aggregated financial budgets for the BLD, in line with BLD and F&I strategic objectives, and challenge and endorse Group Company specific budgets.
• Direct and guide the development of and review the corporate plan for the BLD, challenge and endorse Group Company specific plans.
• Lead the improvement of the BLD financial operations, including the design of different / better business models, joint venture / acquisition opportunities, cost reduction / margin improvement opportunities, negotiating funding arrangements to support major new business ventures, serving as the main interface between all the centralised technical finance expertise and the businesses.
• Direct and guide the development of regular consolidated financial statements, in line with Group F&I standards.
• Review and consolidate financial information and perform relevant business analysis and ad-hoc reporting (including: General Accounting, Budgeting, Cash Management, Accounts Receivables, Fixed Assets, Payments & Charges, Commercial Activities, Tax and VAT).
• Ensure correct management of local Group Company accounts payable and receivable activities.
• Oversee Internal and external audit management activities.
  
  

Tax

• Ensure the completion of the Tax filing and consolidated reporting for the BLD to ensure Tax compliance, as well as forwarding of claims for processing at the BLD/ Group Company-level.
  
  

Financial Policies & Systems

• Lead the BLD-level implementation of new or changed financial policies, processes, (accounting) procedures and systems at the BLD and Group Company-level, in line with Group F&I standards, to maintain Group wide F&I controls.
• Notify the Group F&I when processes change so financial & internal controls can be appropriately amended.
• Where no Group wide guidance or standards are provided, implement financial systems and processes in the BLD, to manage the business strategically through measurable, actionable objectives.
  
  

Treasury & Risk Management

• Review and challenge cash forecasting and cash calling from the Group Companies, liaising with Group Treasury as required (who perform the cash sweep at a Group Level).
  
  

Investment Management

• Lead the identification and tracking of investment opportunities relating to the Group Company, under central guidance and control from the F&I Directorate (Organic Origination).
• Lead the development of the investment management pipeline to maturity and materiality for the BLD, including the development of financially robust business cases, or support Group Companies in the development thereof.
• Provide guidance on investment economic assumptions to the BLD and Group Companies.
• Perform initial review of Group Company investment proposals, challenging Group Company COFs on the robustness of their business cases, financial models, assumptions, etc.
• Own & validate the investment management financial models for the BLD.
• Assist in ‘dry running’ IPC submissions, advise Group Companies on the investment origination steps required to successfully achieve and complete stage-gated submissions to the IPC.
  
  

Job Specific Accountabilities (Part 2)

F&I Assurance

• Monitor and maintain Group Company-level compliance with Group F&I internal financial controls.
• Work in collaboration with the SVP F&I Assurance to define and implement the performance standards and contracts, relevant metrics, internal processes and systems to provide simple, predictive, accessible, reliable financial information.
• Participate in appointing and conducting performance appraisals for Group Company CFOs, under guidance of the Group CFO and F&I Assurance.
• Ensure role descriptions promote strong governance, risk and controls, as well as supporting monitoring and eliminating data risks associated with financial statement deficiencies.
  
  

Investor Relations

• Provide the IR team with relevant information related to financial statements, business plans, major capital projects and investment activities when required for disseminating information, as requested, to the external shareholder community.
• Act as the main point of contact regarding financial matters between the ADNOC Group F&I Directorate, the Business Line Directorate and any Group Company within the BLD.
  
  

Job Specific Accountabilities (Part 3)

Generic Accountabilities

Business Strategy

• Participate and contribute to the development and refinement of the vision and long-term strategy for the Company, and contribute to the overall process of corporate governance, management and corporate decision making to ensure the organisation maximises returns to its shareholders.
• Develop and implement the Function’s Business Strategy, ensuring that overall business goals are fully supported by the Function.
• Ensure the Function’s long and short-term plans are effectively converted into the acceptable performance objectives in line with established service levels.
  
  

Leadership

• Provide effective and visible leadership and integrated strategic direction to the Function in the areas of Corporate Governance, Operations, People, Values and HSE and Integrity in order to deliver the Function’s strategic objectives.
  
  

Budgets & Operational Plans

• Guide the development and monitoring of the Function’s business plans and optimal annual budget, in line with the Company's objectives and work programs to support alignment and arbitration while ensuring quality and reality checks are in place.
• Control expenditure against the approved Functional budget on a regular basis, investigate, and reconcile any significant variances to ensure effective performance and cost control.
  
  

Performance Management

• Agree with the senior management on the Annual Performance Management Contract in line with the Company’s long term plans to reinforce an organisation-wide drive for performance.
• Ensure proper cascading and implementation of the Function’s Performance objectives into the Departments/Sections and implement monitoring mechanisms to assess progress and promote a performance driven culture.
  
  

Organisation Structure and People Development

• Recommend and establish appropriate organisation structure for the Function to fully utilise human capital while proactively incorporating sustainability into on-going work practices to meet business objectives.
• Lead the development of knowledge, competencies and innovative spirit in the Function to continuously develop employees with emphasis on UAE Nationals to meet Emiratization targets and support the establishment of Development Plans, Succession Planning and Talent pipeline.
  
  

Innovation and Continuous Improvement

• Translate conceptual ideas into focused projects and initiatives that bring about efficiencies and change in ADNOC Group.
• Promote the development of a corporate culture that encourages innovation, enhances employee motivation and supports initiatives for the implementation of Change Management to continuously improve Function’s operations and services.
  
  

Policies, Processes and Procedures

• Guide and ensure the development and implementation of appropriate Functional policies, processes, systems, standards, procedures and internal controls to support the execution of the Company's work programmes, in line with ADNOC Corporate, UAE Local & Federal laws and international standards.
  
  

Health, Safety, Environment (HSE) and Sustainability

• Contribute to the development of Company’s HSE policies and culture while overseeing compliance with all relevant HSE, sustainability and environmental policies, processes, procedures and controls across the Unit.
  
  

Generic Accountabilities (continue)

Risk Management

• Participate and proactively contribute to the designing, development and establishment of Company’s integrated Risk Management Framework while identifying and assessing relevant domain risks and recommend planning, management and control measures to mitigate identified risks within the Function.
• Oversee compliance of Risk Management Guidelines that are relevant to the Function and ensure corporate business ethics and Company’s Code of Conduct are communicated within the Function.
  
  

Management Reports

• Ensure that all Functional progress reports are prepared to provide accurate and timely corporate reports and necessary information to Company Management, Board of Directors, Board Advisory Committee and other shareholder representatives to effectively manage the business.
  
  

Internal Communications & Working Relationships

• Directorate Executive Director (or Director in the case of MS&T)
• Group CFO
• Chief Financial Controller (EVP)
• SVP Treasury and Risk Management
• Chief Investment Officer (EVP)
• SVP F&I Assurance
  
  

External Communications & Working Relationships

• ADNOC Group Companies’ CFOs
• Operating Company shareholders (whether JV, concessions, IPO, etc.)
• Depending on the Operating Company and its ownership structure, strong relations with investors and major financial institutions may be necessary
  
  

Minimum Qualification

Bachelor’s Degree in Finance or Accounting.

Minimum Experience, Knowledge & Skills

• 18 years of experience in finance and accounting related experience in a large organisation, preferably in oil & gas industry, including at least 12 years exposure to major change initiatives and executive team management activities.
• Proven technical skills with expertise across all key finance disciplines including Financial Planning, Budgeting & MI Reporting, Investment Management, Accounting & Reporting
• Proven understanding of commercial contexts and operations supporting the Business Line Directorate’s business and operating model as well as other business support functions
• Thorough understanding of commercial and regulatory requirements gained through a variety of executive roles across ADNOC Group companies and international external companies as relevant
• Proven track record operating at senior level in multi-national organisations – providing advice and guidance and contributing to strategy formulation
• Experience in providing challenge, advice and support to further business interests and expand operations
• Finance Leader in a business in a fast-changing economic environment
• Ability to lead and motivate multi-national teams
• Experience working in and navigating a matrix organisation
• Extensive knowledge and experience of M&A, deal making, international financial markets, capital investments and debt management.
• Experience with large scale capital investment programmes with long term planning cycles.
  
  

Professional Certifications

• Qualified accountant (ACA/ACMA/ACCA) or equivalent.
• Post-graduate qualification in Economics or relevant discipline is preferred.
  
  

Work Condition, Physical effort & Work Environment

Physical Effort

Minimal

Work Environment

Normally A/C environment.

Additional Details

Job Family / Sub Family: Finance