Financial Advisor

Overview:

We are seeking an experienced financial advisor to join Downstream Finance, and Performance Management Department (DSF&PMD) focusing on Segment Financial Controlling & Financial Advisory activities for the Downstream Segment based in Dhahran, Saudi Arabia.

The successful candidate will be part of the segment level team that handles financial reporting and controlling, financial consolidation, compliance (IFRS) and assurance over segment financials reported both internally and externally. It is a critical team within Downstream Finance, responsible for ensuring that segment results are prepared in a timely, accurately and world-class manner, as can be expected from one of the largest companies in the world.

You will be accountable for preparation and submission of segment level financial reports, insights, review of all the overall segments' and business units financials statements (focusing on but not limited to: P&L, Balance Sheet, Cash Flow, FCF, ROACE and etc) and notes to senior management, while ensuring robust controls over financial reporting processes.

As you will be overseeing segment level financials and associated processes, you are required to exhibit strong interpersonal skills, as you are dealing with multiple stakeholders, initiate and lead segment wide process improvement opportunities, and promote consistent application of group policy.

The role provides exposure to senior management as well as the opportunity to get involved in wide ranging financial activities, not limited to, associated with long- and short-term business planning, forecasting, financial reporting (consolidation) and controlling, investment decisions, tax, price and tariff development and other financial requirements.

Overall, this is a fantastic, and high profile, role that will allow the successful applicant market leading career opportunities.

The company is an IFRS (International Financial Reporting Standards) company.

Minimum Requirements:

• A Bachelor's degree in a Business, Accounting or Finance discipline
• Accounting / Finance professional designation (ACCA, CPA, CMA, CIMA, CA, CFA, or equivalent).
• 12+ years of experience in the Finance and reporting related activities. Preferably, 5+ years of this experience will be in the Oil and Gas Downstream
• Previous experience in implementing financial controls
• Solid understanding of IFRS in relation to Oil & Gas
• Strong knowledge of accounting principles, practices, standards, laws, and regulations
• Working knowledge of SAP Finance Modules
• Strong working knowledge of Microsoft Office Suite
• In depth knowledge in one or more of the following areas: trade accounting, impairment, asset accounting, cost reallocations, revenue accounting, transfer pricing, financial consolidation and group reporting requirements
• Strong modelling experience would be considered an asset as it allows you to be active in an even broader suite of responsibilities

Duties & Responsibilities:

• Responsible for preparing financial and management report
• Manage the global financial planning and quarterly forecasts process
• Participate in the consolidation and reconciliation of financial figures reported to executive management to finalize the business line financial reports at both actual and planning events
• Prepare monthly and quarterly financial statement analytical review at business unit level
• Assess and evaluate financial performance of the organization and provide insight and recommendations with regard to short term operational goals and long-term strategy, budgets and forecasts
• Responsible for carrying out cash flow analysis and as per the financial needs of the company, determine the required financial tools (i.e. Loans (Short or Long term), Hedge, LC, Leasing and etc.) and prepare a business plan to allocate the resources accordingly
• Develop product and regional segment financial statements
• Treasury, Accounting Policy, Tax, Pricing, Financial Accounting, External Reporting, Enterprise Risk, Audit, and Affiliates Support for the DS business. Ensure facilitation of Downstream objectives through these stakeholders
• Establish and maintain reconciliation controls on balance sheet accounts
• Assists in budget development cycles. Set, monitor and allocate budgets in coordination with the business and Finance.
• Coordinate, maintain, and resolve outstanding audit exceptions for both internal and external auditing
• Provide Downstream Finance community advice on technical accounting issues
• Identify and implement preventative and detective controls on key financial processes
• Ensure timely and accurate recognition of provisions relating to environmental remediation, legal and asset retirement obligations
• Oversee the implementation of cost-effective internal controls for results-oriented management; assess the adequacy of DS internal controls; identify needed improvements and take corresponding corrective action; and report annually on the internal controls through management assurance statements
• Support business development activities ranging from capital projects to upgrades.
• Support business systems architecture and ERP for financial functions initiatives
• Develop, build and review full financial models on corporate finance transactions (M&A, due diligence, impairment testing, and tax related activities and etc.) And conduct valuation analyses using appropriate valuation methodologies

Benefits:

• Compelling remuneration package.
• Permanent Employment on an Indefinite Term Employment Agreement.
• The company's Incentive Plan: This is a broad-based annual and performance based incentive plan based on company and individual performance, base salary, and length of service during the plan year. The objective of this plan is to drive organizational performance, as well as, recognize and reward your contributions beyond the normal annual merit increases.
• Annual repatriation travel allowance: An annual cash payment that more than covers airfare costs to your home country. You have full flexibility to use this payment in any way you choose.
• Annual vacation: You can look forward to up to 38 calendar days of paid leave each year. In addition, you'll typically be granted between 9 and 11 days of public holidays each year.
• Severance award: In accordance with the Saudi labor law, a severance award is payable by the company to employees who leave after two years or more of satisfactory service. The severance award is based on length of continuous service and final base pay. The severance award can be a substantial benefit for longer service employees.
• Education Assistance Plan: If you are hired on family status, you may be eligible to benefit from the company's excellent education assistance plan for dependent children. This may include the option for them to attend the company's high quality private schools or to attend international schools in the local community.
• Quality housing in company communities or a rental assistance allowance: We have four communities in the Eastern Province where we provide quality accommodation in pleasant surroundings. Alternatively, employees may obtain housing in the local communities outside of the company's communities, for which we provide a rental assistance allowance.
• Free medical care: We provide medical care via our subsidiary medical network or contracted hospitals and clinics. These facilities are among the finest in the Middle East.
• Free access to recreational facilities: You will have access to our extensive range of recreational facilities that include: private beaches, tennis courts, exercise gyms, swimming pools, golf courses, tennis and squash courts, and much more.
• Free scheduled transportation: Air-conditioned buses are provided free of charge for transportation within camp areas, to work locations, local shopping areas outside camp, the beach and our other communities.
• Voluntary Group Life and Accident Insurance: you may enroll in a voluntary program providing term life insurance and accidental death and dismemberment (AD&D) coverage equal to 12, 18, 24 or 30 times your monthly base salary. Favorable group rates keep the premium low.
• Short-term : In the event you are unable to work due to illness or injury, short-term income benefits are provided. The benefit is 30 days full pay and 60 days at three-quarters pay, in any one year period.
• Death Benefit: The company pays an ex-gratia death benefit equal to 24 months base pay if death is from an industrial accident and 12 months base pay if death is non-industrial related.
• Career development: We recognize and value professional growth and achievement, so you'll have many opportunities to develop your career and expertise.

BH4636

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