JOB PURPOSE:
Operate as the F&I Business Partner (or Finance Manager) for one or more of the ADNOC (HQ) functional organizations including but not limited to FSSC, Group D&CS, Group BS&ST, HC, C&ICV, LGC, HSE and TEO. Key activities include quantification of the function strategy, cost analysis and reporting, project accounting, recharge administration, coordination of the finance aspects of the functional plan, coordination of the recharge budget production, and financial forecasting.
Note, other F&I accounting support activities on behalf of the supported function(s) such as accounts payable, intercompany accounting, accounts receivable and payroll accounting will be performed by other departments within ADNOC Group F&I.
KEY ACCOUNTABILITIES
Specific Accountabilities
- operate and maintain sound, effective procedures for: Cost accounting and reporting including validation that third party and internal costs are recorded to the correct GL accounts and cost centres and correction of any erroneous accounting entries
- HQ functions and provide specialized guidance in developing and producing the annual function recharge budget in accordance with ADNOC budgeting and planning guidelines and F&I policies
- HQ functions and provide specialized guidance in developing proposals pertinent to establishing new recharge services and appropriate allocation for the recharges, communicating same to ADNOC functional leadership, ADNOC F&I and the GC CFOs
- HQ functions and provide specialized guidance in projection of annual service cost and service fee true-up (periodic projections and year-end actual) by GC, communicating same to ADNOC functional leadership, ADNOC F&I and the GC CFOs
- Provide service fee input to FSSC Account Receivables, ensuring billing of functional support costs (recharge) is performed in accordance with the various, relevant corporate services agreements in addition to tracking status of invoice payments by interacting with FSSC stakeholders
- Diagnose and resolve issues that are resulting in delinquent account receivables associated with functional recharge, working closely with Finance Shared Services Accounts Receivables and HQ Function Recharge Lead
- Provide guidance and support to FSSC Account Receivables for off-cycle and annual true up calculations associated with the supported organization(s)
- Provide specialized support in developing the annual update of the five-year HQ Functions’ business plan for recharges, working closely with the management of the supported organization(s), the HQ Finance Planning, Budgeting & Reporting department and the GC financial planning focal points
- Respond to billing queries from Group Companies and external and internal auditors with regards to reviews of HQ corporate support cost and recharge
- Perform annual review of recharge approach for supported HQ function(s) to ensure changes in service provision, including changes to the service catalogue, GC service demand and service cost, and organization structure are properly addressed in the budgeted recharge calculations.
- As needed, collaborate with Legal to address contract revisions necessitated by changes in service provision and/or organization structure.
- As needed, determine revisions necessary to the function cost center hierarchy necessitated by changes in the service catalogue, service provision, organization structure and / or service costing.
- Lead implementation of relevant F&I policies, processes, systems, standards, procedures and internal controls within the supported function(s).
- Manage, close and evaluate projects/initiatives, identify and analyse lessons learned and determine potential follow-up activities, archive project documentation and hand over project to line management.
- Advise, challenge and convince internal stakeholders on topics and issues related to recharge administration process, based on own expertise, in order to enable informed decision making by (Senior) Management.
- Build, maintain and utilise a network of internal and external stakeholders, and represent the Division within the organisation.
- Prepare related reports, in line with relevant reporting standards, in order to timely inform Management.
- Identify and contribute to the design of improvement and efficiency measures within the scope of the Division, under guidance from the VP, Finance Functions Support.
- Monitor and analyse relevant business processes and activities and propose, implement and track opportunities for continuous improvement, in order to contribute to effective and efficient business processes and a culture of continuous improvement.
- Support the VP, Finance Functions Support, by delivering unplanned ad-hoc support and advice upon request.
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
- Encourage innovation, enhance employee motivation and support development of skills necessary to achieve effective, ongoing continuous improvement in operations and services.
- Propose improvements in internal processes reflective of best practices and in line with ISO and accounting standards
- Define cost-effective responses to people, process, internal control, cost management and all other issues confronting the Department.
Health, Safety, Environment (HSE) and Sustainability
- Comply with all HSE procedures and standards
- Ensure adequate HSE training and monitor compliance for any direct-report staff
COMMUNICATIONS & KEY WORKING RELATIONSHIPS:
Internal
- Executive management of the ADNOC function(s) being supported.
- VP Finance Functions Support
- BLD and Group Company CFOs
- Group Company F&I staff responsible for recharge administration and financial reporting
- Manager, FSSC Intercompany Accounting
- Manager, FSSC Performance Analysis and Reporting, SLA and Contract Administration
- Vice President, Financial Policies and Systems
- Vice President, Internal Controls
- Function personnel focused on leading and delivering function transformation program(s)
- Project Optimal, Project Evolve and other project personnel focused on delivering the F&I Strategy
External
- Internal and external Auditors, regarding matters related to the review of functional support cost, GC service fees and recharge activities and records associated with the supported function(s)
- Local and international vendors, contractors and service providers (e.g. consultants)
QUALIFICATIONS, EXPERIENCE, KNOWLEDGE & SKILLS:
Minimum Qualification
- Bachelor’s Degree in Accounting, Finance or related field, with strong academic background.
- Additional relevant post-graduate qualifications such as Master degree in Business Administration (MBA) is preferred.
Minimum Experience & Knowledge & Skills
- 10 years of professional experience in Accounting or Finance including GL and cost accounting in addition to relevant internal and external stakeholder management.
- 3 years of relevant business financial support experience
- Proven ability to lead internal, functional projects and initiatives.
Professional Certifications
Professional Accounting qualification (e.g. Chartered Accountant “CA”) is Preferred.
