M&A and Investment Accounting

2 weeks ago

Riyadh, Ar Riyāḑ, Saudi Arabia Asterix Communications Full time
Companies growth plans requires special activities in Controllership and involvement in particularly two areas:
a) Proforma Financial Statements for future investments and partnerships, proforma financials for other portfolio adjustments such as carve-outs and divestitures
b) Manage and review joint venture partnership agreements

The incumbent of this position will be the focal to ensure meaningful forward-looking financial statements based on business case projections of the investments.

The generation of the proforma financials optimally uses established processes and technologies used for regular financial statements.

The proforma financials will roll-up in plan financials of the Group to safeguard debt capacity and a robust agency rating.

Some of Companies growth investments are and will be embedded in partnerships. Company is already engaged with industry peers in numerous joint venture agreements in KSA an overseas.

The current and future partnership agreements (will) contain substantial provisions relevant for the accounting treatment of the respective legal entities, such as Control Concept, embedded derivatives etc.

For KSA-based partnerships respective affiliates should be fully controlled according to Company group strategy and rationale. Contract terms should foresee procedures and concepts supporting and safeguarding reasonable governance and control by Company.

The incumbent of the position will ensure that existing and future partnership agreements meet Company Management and Controllership requirements and strategic objectives of the Company through respective analytics.

Also, the incumbent will highlight potential adjustments to be negotiated with the partners to re-again or establish control or reduce P&L risks through the avoidance of embedded derivatives.

The incumbent will partner with the Companies negotiation team and Legal to ensure company's assets and interest and align with external auditors.


Key Responsibilities:
JV's contract analysis, Mergers, Acquisitions, Divestitures & Integration accounting
Provide expert know-how and governance regarding M&A, divestitures and integration accounting and also restructuring
Research accounting literature and apply technical standards to complex business issues and transactions, including business combinations and impairment valuations
Assess and analyze JV's contracts and propose accounting consequences including options to mitigate risks and assess control opportunities in existing contracts
Ability to applies financial modeling tools to run valuation numbers to provide financial advice in a number of business and pro forma balance sheet
Coordinate accounting integration of M&A transactions and provide advice, incl. conversion to Companies accounting standards, harmonization of chart of accounts, integration into Companies accounting processes and systems
Carve-Out Financials Statements / Stand-alone Statements / Proforma Statements and prospectus support
Coordinate accounting preparation of divestitures and provide advice, incl. preparation of carve-out financial statements
Due diligence support, Purchase Price Allocations and principles of push down accounting
Legal entity portfolio and master data design (central legal entity repository)
Acting as a point of contact for external auditors on any technical accounting matters related to control assessment
Preparing or reviewing with technical accounting papers related to control assessment
Aligning with JV affairs on the technical accounting matters and preparation of Statutory Financial statements of the various SABIC subsidiaries and associates
CoE for IFRS 3, IFRS 10, IFRS 11, IAS 27, IAS 36, IAS 37
Technical accounting and reporting

The (Sr.) Specialist is responsible for providing expert technical accounting advice and guidance which includes implementing new changes, requirements and improvements.

The (Sr.) Specialist also provide advice on the potential implications of any regulatory changes.

In addition, Technical Accountants lead all the technical accounting preparation for the team, advise the commercial teams and prepare accounting policies in line with accepted industry practices.

Annual Report and Accounts and quarterly
For the annual and interim financial statements participate in preparing the policies section in SABIC's interest, advice on disclosure requirements and ensure compliance with latest IFRS requirements for presentation of investments, divestments and other portfolio changes
Assess, prepare impact and implementation of new regulatory and reporting standards and amendments thereto
Participate in the statutory reporting and group reporting templates to ensure they are up to date
Improving the organization's documentation of policies and procedures to enhance the quality of financial reporting
Prepare/review or coordinate the updated WACC for impairment testing and align with stakeholders (auditor, business and controllers)

Minimum Qualifications:
10+ years of Big 4 experience as technical accounting and (financial) auditor
Desirable completion of Master degree in accounting/auditing
Professional qualification of CPA, CA, or ACCA
Demonstratable IFRS expertise, certainly on technical standards (IFRS 9, IFRS, 10, IFRS 11, IAS 28, IAS 19, IAS 36, IFRS 16, IFRS 15)
Post CPA qualification experience of 5+ years
Technical training in Big 4 audit firms. Must have worked in audit, financial statements preparation/review, technical accounting advisory

Skill/Key Functions:
Expert knowledge on Mergers, Acquisitions, Divestitures & Integration (MADI)
Business acumen, strong analytical skill, knowledge of chemical industry is a plus
Expertise knowledge of standard accounting practices, solid knowledge in IFRS
Proficient in corporate governance and internal control framework
Financial modeling and proform pro forma balance sheet
Team player
Good sense of corporate risk management
Advanced organisational skills and task management

Competencies:
Strong communication and presentation skills, demonstrated success in providing training to finance community at the region/polar level, able to
build up network and exercise positive influence in the organization.
Experienced in processes, governance frameworks, risk management and change management.
Experienced in organizational integration project, able to understand and support organizational climate/culture.
Experienced in participating in large-scale project, demonstrated successful project planning and execution skills.
BH3545
Bounty Hunter World
Desired Candidate Profile

Education:
Bachelor of Commerce(Commerce), Bachelor of Business Administration(Management)

Gender:
nm

Nationality:
Any Nationality

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