Specialist, Finance Functions Support (Recharge)

ADNOC Group


Date: 3 weeks ago
City: Abu Dhabi
Contract type: Full time
JOB PURPOSE:

The Specialist, Finance Function Support is integral to the finance team, providing essential support in developing service cost budgets, managing cost accounting, and ensuring accurate financial reporting. This role contributes to the effective financial management and strategic planning within the organization.

KEY ACCOUNTABILITIES:

Job Specific Accountabilities

  • Assist in coordinating and supporting the development of service cost budgets and associated recharges in line with organizational objectives.
  • Engage in cost accounting and reporting activities, ensuring accurate recording of costs to the appropriate general ledger accounts and cost centers, and rectifying any accounting discrepancies.
  • Aid in reviewing the annual HQ functional recharge budget according to ADNOC’s budgeting and planning guidelines and F&I policies, considering the service list, costing model, allocation metrics, and cost center hierarchy.
  • Help prepare projections for quarterly service fee true-ups by Group Companies, in collaboration with HQ Functions, and communicate these projections to relevant stakeholders.
  • Participate in the review of service fee inputs for FSSC Intercompany billing, verifying that the billing of functional support costs is in compliance with master service agreements.
  • Address billing inquiries from Group Companies and auditors regarding HQ corporate support cost and recharge processes.
  • Work to identify and resolve issues causing delinquent intercompany receivables related to functional recharge, in coordination with relevant departments.
  • Be involved in the annual review of recharge methods for supported HQ functions to ensure budgeted recharge calculations reflect changes in service provision and organizational structure.
  • Collaborate with the Legal department as necessary for contract revisions due to changes in service provision or organizational structure.
  • Support revisions to the function cost center hierarchy as required by changes in the service catalogue, service provision, organization structure, or service costing.
  • Implement relevant F&I recharge policies, processes, systems, standards, procedures, and internal controls within the supported function(s)

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 the Function / Division / Department / Section 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 Function/ Division/ Department/ Section policies, processes, systems, standards and procedures in order to support execution of the work programs in line with Company and International standards.

Performance Management

  • Contribute to the achievement of the approved Performance Objectives for the Function/ Division / Department/ Section in line with the Company Performance framework.

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

  • Provide inputs to prepare MIS and progress reports for Company Management.

COMMUNICATIONS & WORKING RELATIONSHIPS:

Internal

  • VP Finance Functions Support
  • Accounting, Statutory Reporting & Tax function staff
  • F&I Internal Controls Department

External

  • Group Company finance staff as required
  • External Consultants, if required

QUALIFICATIONS, EXPERIENCE, KNOWLEDGE & SKILLS:

Minimum Qualification

  • Bachelor’s Degree in accounting and/or Finance.

Minimum Experience & Knowledge & Skills

  • 8 years of experience in finance or accounting, with exposure to cost accounting, budgeting, and financial reporting.
  • Understanding of financial principles and cost accounting standards.
  • Proficiency in financial software and Microsoft Office Suite, with strong skills in Excel.
  • Good communication and interpersonal skills, with the ability to work effectively with various stakeholders.

Professional Certifications

  • Professional accounting qualification.
  • WorK Condition:

Physical Effort

Work Environment

  • Minimal
  • Normal office environment

24714

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