Senior Specialist, Budget & Cost

JOB PURPOSE:

Perform activities to drive the development, alignment, implementation and monitoring of financial planning, budgeting, accounting and related consolidation Management reporting for Upstream. Analyses & evaluates the financial performance of Upstream OPCOs, ADNOC Drilling and other service companies. Evaluates financial aspects of budgets, and five years financial plan to ensure consistency with Upstream mandates, objectives, and financial interests. Reviews financial policies, systems, procedures, agreements, etc. and ensures compatibility with the concession and other agreements, and generally accepted accounting principles. Reports on financial aspects of ADNOC’s Sole Risk & Upstream Directorate budgets.

KEY ACCOUNTABILITIES:

Job Specific Accountabilities

• Contribute to the implementation of new or changed (standardised) financial planning, budgeting & reporting policies, processes, (accounting) procedures and systems at the BLD and Group Company-level, in line with Group F&I standards.
• Develop, align, implement and monitor the consolidated BLD financial plans and budgets, in close cooperation with the BLD Planning & Performance Team, and under guidance from the Group F&I Directorate.
• Develop the consolidated BLD business plan, including the 5-year business plan, by coordinating with and supporting the BLD Planning & Performance Team, and under guidance from the Group F&I Directorate.
• Provide advice and recommendations to superior on the robustness of Group Company specific financial plans, financial budgets, and MI reports.
• Assist Group Companies in preparing and reviewing business plans and assumptions, including Financial, Production, Human capital, HSE and other activities with variance analyses.
• Assist Group Companies in preparing BPC reports (e.g. e.g. consolidated budget vs actual reports, budget utilisation reports and other budget and financial planning reports).
• Assist in Group Company Capital Project planning efforts, and support obtaining project approvals.
• Prepare an initial assessment and review of Group Companies’ budget and financial plan submissions, and provide feedback.
• Prepare relevant business and budget (variance) analyses and ad-hoc reports (to adequately evaluate and measure BLD financial performance.
• Provide expert support and advice regarding internal and external audit activities for the own BLD, in coordination with Group F&I Internal Controls, and support the implementation of internal control policies and frameworks at the Group Company level, to ensure compliance with F&I standards and relevant laws and regulations.
• Provide expert advice and support to Group Companies within the own BLD, on all financial planning, budgeting and reported related matters.
• Review financial policies, systems and procedures to ensure their alignment with the approved financial agreements and accounting principles.
• Participate in preparing reports for internal and external stakeholders, related to financial planning and budgeting for the BLD.
• Prepare complicated ad-hoc models and reports, based on the management request.
  
  

Generic Accountabilities

Supervision

• Plan, supervise and coordinate all activities in the assigned area to meet functional objectives.
• Train and develop the assigned staff on relevant skills to enable them to become proficient on the job and deliver the respective business objectives.
  
  

Budgets

• Provide input for preparation of Upstream HQ budgets, assist in the implementation of the approved Budget, and work plans to deliver business objectives.
• Investigate and highlight any significant variances to support effective performance and cost control.
  
  

Policies, Systems, Processes & Procedures

• Implement approved Group F&I policies, processes, systems, standards and procedures in order to support execution of the work programs Performance Management
• Contribute to the achievement of the approved Upstream GC CFOs PSCs in line with Group F&I Objectives.
  
  

Innovation and Continuous Improvement

• Design and implement new tools and techniques to improve the quality and efficiency of operational processes.
• Identify improvements in internal processes against best practices in pursuit of greater efficiency in line with best industry standards in order to define intelligent solutions for issues confronting the function.
  
  

Health, Safety, Environment (HSE) and Sustainability

• Comply with relevant HSE policies, procedures, controls, applicable legislation, and sustainability guidelines in line with international standards, best practices and ADNOC Code of Practices.
  
  

Reports

• Consolidate and analyse Upstream monthly performance reports and provide key highlights to Upstream and Group F&I Management for decision making
• Generates report providing reasons for the variations along with recommendations for remedial action as necessary.
  
  

COMMUNICATIONS & WORKING RELATIONSHIPS:

Internal

• VP Upstream Financial Planning & Budgeting & MI Reporting
• Group Company CFOs and Finance staff
• F&I Financial Planning, Budgeting & Reporting Unit
• F&I Internal Controls Department
  
  

External

• External auditors, if required
• Shareholders
  
  

QUALIFICATIONS, EXPERIENCE, KNOWLEDGE & SKILLS:

Minimum Qualification

• Bachelor’s Degree in Business Administration / Finance / Accounting
  
  

Minimum Experience & Knowledge & Skills

• 10 years of experience in accounting, budget, forecast, financial planning and cost/analysis work, with strong experience in an Accounting and Finance discipline.
• Good knowledge of English and Arabic.
• Strong experience in Microsoft applications (PowerPoint/Excel/Word)
• Good knowledge of the ERP system and other budget systems (i.e. BPC, SAP)
  
  

WorK Condition:

Physical Effort

Work Environment

• Minimal
• Normal office environment
  
  

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