Job title Head of Finance Control Grade -
Stream OQBI Function Finance – Finance Control
Location Oman – Salalah Budget control Nill
Reporting to Chief Financial Officer Direct Reports
• Snr Specialist Financial Operations
• Snr Specialist AR and Hydrocarbon Account
• Expert General Ledger Operations
• Snr Specialist AP and Fixed Assets
Job purpose
Lead the planning and control of OQBI Finance Control related process under delegated authority of CFO OQBI, acting as top authority & single point of accountability for Financial Accounting and Financial operations, Account Payable and Fixed Assets, General Ledger Operations, Financial Reporting, Account Receivable and Hydrocarbon Accounting and System & controls end-to end process/ transactions; in order to ensure. they operate efficiently, accurately, and in compliance with relevant regulations and standards.
This role is guided in accordance with the OQBI’s Mission, Vision, Values, and Strategies, as well as policies, guidelines, and both local & international standards. It is supported by an IT Technology platform, HSSE standards, Omani government regulations, legal justifications, and best international practices. All these elements are aligned with the national objectives of Oman.
Main tasks and responsibilities
Scope • Financial Accounting
• Financial operations
• Account Payable
• Account Receivable
• Fixed Assets,
• General Ledger Operations,
• Hydrocarbon Accounting
• Financial Reporting,
• System & Controls
Accountabilities:
Financial Accounting: • Financial Statements: Overseeing the preparation of accurate and timely financial statements, including balance sheets, income statements, and cash flow statements. Ensure the proper presentation of Profit & Loss including the management of OPEX, CAPEX, cashflows, EBTIDA and Net Profits for CFO approval.
• Compliance: Ensuring compliance with relevant accounting standards (such as GAAP or IFRS) and regulatory requirements.
Financial Operations • Transaction Processing: Overseeing day-to-day financial transactions, ensuring accuracy and timeliness.
• Cash Management: Managing cash flows, optimizing cash positions, and ensuring liquidity for operational needs.
• Financial Analysis: Conducting financial analysis to support decision-making, budgeting, and forecasting processes.
Accounts Payable (AP): • Invoice Processing: Managing the processing of supplier invoices and ensuring timely payments.
• Vendor Management: Negotiating terms with suppliers and managing relationships to optimize payment schedules.
Accounts Receivable (AR) • Invoicing and Billing: Overseeing the invoicing process for goods and services provided.
• Debt Collection: Managing accounts receivable aging, following up on overdue payments, and ensuring timely collections
Fixed Assets • Asset Accounting: Recording and tracking fixed assets, including depreciation calculations and impairment assessments.
• Capital Expenditure: Managing capital expenditure projects and ensuring accurate accounting treatment.
General Ledger Operations • Chart of Accounts: Managing the organization's chart of accounts for accurate financial recording.
• Reconciliation: Ensuring the reconciliation of various ledger accounts, bank statements, and intercompany transactions.
Hydrocarbon Accounting • Production Accounting: Managing the accounting and allocation of hydrocarbon production volumes and revenues.
• Ensuring compliance with tax obligations related to hydrocarbon production.
Financial Reporting • Internal Reporting: Providing regular financial reports and analysis to internal stakeholders, such as management and department heads.
• External Reporting: Preparing financial reports for external entities, including regulatory bodies, shareholders, and auditors.
Systems & Controls • Overseeing and managing various systems and associated control for Finance function including:
• Accounting software,
• Budgeting tools,
• Financial reporting systems, etc. The Specialist
• Ensures that these systems are functioning efficiently and effectively to support the organization's financial operations.
• Support on procedures and policies designed to safeguard assets, ensure the accuracy of financial records, and promote operational efficiency.
Stakeholder • Interface with Strategic financial planning and process optimization to implement best practices aims to enhance the organization's financial performance and governance.
• Participates and contribute with the CFO OQBI on the development of OQBI Financial vision, strategy, and financial direction of the Asset, (Corporate / SBU), in order to ensure that OQBI and Finance can be able to maximize the short-, medium- and long-term profitability and returns to shareholders.
• Work together with the SBU and Corporate Governance to design and establish OQBI Governance & Controls, in line with OQBI holding company structure.
• Contribute towards the formulation and implementation of OQBI business objectives and strategic plans, which enable the achievement of OQBI mission and objectives.
Supervisory • Performs supervisory responsibilities:
• Has supervisory oversight of all personnel related matters including making recommendations regarding hiring and firing decisions, training, development, evaluation, and disciplining.
• Interprets, administers, and enforces work rules, rules of conduct, departmental and policies, procedures, and performance standards.
• Recommend and implement changes or improvements in staffing levels, procedures, budget levels, and equipment
Key interactions
Internal: OQBI – Corporate Finance
External: Staffing specialized Contractors, Vendors & Suppliers, internal and external auditors
Notable Working Conditions. Office environment, intensive computer screen use, sporadic visits to operation site.
Education requirements • Minimum qualification required is a bachelor’s degree along with any of the below which will be a plus.
• Postgraduate / MBA
• or professional accounting qualification (like CA, ACCA, or CIMA)
Language Exceptional knowledge of written, read, and spoken English (required)
Background and experience Competencies and skills
• 16+ years’ experience in similar role, in a large oil industry industrial organisation.
• Strong experience leading the following processes:
o Financial Accounting
o Financial operations
o Account Payable
o Account Receivable
o Fixed Assets,
o General Ledger Operations,
o Hydrocarbon Accounting
o Financial Reporting,
o Systems & Controls Soft:
• People’s management skills
• Analytical skills
• Planning skills
• Forward thinking
• Empowering & developing high performing Teams for a competitive advantage
• Promotes Teamwork and an environment of Diversity & Inclusion
• Builds trust by meeting commitments & creating an environment of transparency and accountability.
• Models and ensures commitment with business aspirations, ethics & guidelines.
• Engages & inspires people to collaborate and share knowledge to achieve common goals.
• Maintaining effective, accurate and transparent communication with all stakeholders & community
• Acts as an agent for change, constructively challenging the status quo.
• Pursues innovation & continuous improvement.
• Leads a solution-based approach to plan and deliver competitive results.
• Transforms strategic insight into achieving business excellence.
• Takes accountability for a performance culture that delivers continuous transformationExcellent business and technical report writing skills.
Technical
• Exceptionally good knowledge in using PC software.
• Financial Accounting
• Financial operations
• Account Payable
• Account Receivable
• Fixed Assets,
• General Ledger Operations,
• Hydrocarbon Accounting
• Financial Reporting,
• Systems & Controls
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