Budget & Cost Controller
Abu Dhabi, UAE
Basic Function:
• Directs and supervises the assigned personnel engaged in the preparation of the company Original Budget and subsequent revisions and the maintenance of the company's records related to statutory accounting and corporate cost and budgetary control. Supervises the preparation of the monthly, quarterly and annual reports for shareholders and Associated Ventures.
• Lead the Budget discussions with various levels of the company management and arrange for presentation reports to senior management, Shareholders, Technical Committee and Financial Committee.
• Provides professional advice on the interpretation and maintenance of the company Accounting Guide and Associated ventures guides.
• Supervises the maintenance of the Shareholders Fixed Assets Register and Depreciation calculation as well as the Internal and External Auditors exercises, review findings and follow-up action plans.
Worked Performed:
• Directs and supervises the activities of assigned personnel in the Cost & Budget Team. Performs supervisory functions and exercises financial authorities at the level established by the management for the position.
• Endorses and supervises the timely issue, of all coding allocations prepared by various Business Units Controllers, control various corporate cost reports and review with Business Units controllers variances highlighted via the budgetary Control Mechanism.
• Supervises the Company re-allocation programmes covering operating cost and use of assets (U0A) in line with shareholders accounting guide and ventures agreements. The exercise is conducted for both the budget estimates and actual costs six times a year.
• Supervises the preparation of quarterly and final accounts and underlying schedules and subsidiary reports and statements for both the Joint Venture and Company Sole Risk and issue of billing statements as per company Accounting Guide Service Agreements.
• Provides advice on the preparation and compilation of the annual Master Budget and subsequent revisions processes, including equitable cost and UOA sharing as per shareholders / ventures agreements accounting guides and consolidation of budget summaries for presentation to Shareholders / Fl NCO.
• Aligns the operating and capital costs activities to properly reflect Company's business requirements and Accounting Guide Classifications.
• Monitors actual operating and capital costs against budget and agrees with Business Units Financial Controllers action to be taken to rectify variances. Controls and endorses the collection of data required to support cost reallocation from various Business Units.
• Supervises timely consolidation / update and production of Company Fixed Assets register for new and existing projects to be issued to Shareholders and Divisional Managers. Reviews and ascertains Fixed Assets and Depreciation schedules prior to issuing to Shareholders. Provides necessary Fixed Assets additions / deletions and information for insurance coverage purpose.
• Coordinates and controls the Capital commitment and Expenditure to Shareholders / Management on the progress of all capital and major Maintenance works such as plants, equipment, etc. by reviewing related financial statements / authorization for expenditure as per approved Capital Budget and alerts Asset Units of any unbudgeted capital items.
• Knows the company's health, safety and environment policy, procedures, regulations and objectives as they relate to his area of responsibility and ensure that they are effectively implemented in his domain.
• Supervises other related duties as assigned by Supervisor such as verify Budget Requests, AFEs, Shareholders / SPC Oil Royalty Accounting. Liaising with External 1 Internal Auditors for conducting reviews and discussing findings. Preparing Adhoc Reports for management and other Associated Ventures. Giving professional advice on accounting guides polices for new / revised Associated Ventures Agreements.
Minimum Requirements:
• Bachelor degree in Accounting / Finance with appropriate Membership of Certified Professional Body (ACCA, CPA, ACA or equivalent).
• 10 - 12 years experience in finance and accounting in a large industry with at least 4 years in the oil industry including exploration, project and production accounting.
• Very good knowledge of English.
Kindly send your updated CV to fivecont@emirates.net.ae and mention in the subject the position you are applying for or click here to apply.
