Job Description
About the Company
Established in 1972, ADNOC Drilling was the first fully-owned subsidiary of the Abu Dhabi National Oil Company (ADNOC), and was set up with a mission to drill wells to enable ADNOC to unlock the UAE’s vast reserves of oil and gas for the benefit of the nation. The company acquired its first rig, AD-1, in 1973, which can be seen today outside ADNOC Group's modern headquarters on Abu Dhabi's Corniche. For almost 50 years, ADNOC Drilling has enabled the Abu Dhabi National Oil Company (ADNOC) to safely and efficiently unlock United Arab Emirates’ (UAE) oil and gas resources. ADNOC Drilling is key to delivering the targeted increase in crude oil production capacity by 25% to 5 million barrels per day by 2030 and achieve UAE gas self-sufficiency.
JOB PURPOSE:
Supervise and control assigned area of Finance & Control Division by monitoring and directing all accounting activities in line with the Company Financial Policies and Procedures. Provide reports as appropriate to enable informed decision-making. Control the financing and accounting activities such as summarizing budgets, investment management, financial accounting, receivable and payable accounting, client and third party billing, payroll, cash management, account reconciliation, etc. and administer the financial systems. This will enable to achieve Finance & Control Division’s Objectives, and contribute to ADNOC Drilling’s KPIs.
KEY ACCOUNTABILITIES:
Job Specific Accountabilities
- Liaise with Government and external auditors in examination of Company’s books and records.
- Review audit results and recommendations and ensure their proper implementation and follow-up.
- Monitor the preparation of cash flow forecasts for Management review.
- Authorize the bank releasement letter.
- Ensure safe keeping of original documents.
- Monitor a tracking system for functional review within Finance Division.
- Ensure concerned Administrators are updated in line with the approvals.
- Control funds reallocation after obtaining the appropriate approvals.
- Supervise and approve the preparation of monthly reconciliation.
- Liaise regularly along with concerned Assets/Functions to resolve day-to-day issues on financial aspects with external parties.
- Authorize debit notes issued ensuring completeness of supporting documents.
- Approve to generate single payments as per management advice.
- Monitor the process of payments generation ensuring cash availability in consultation with Cash Management Team.
- Review all bank accounts on a daily basis.
- Prepare contingent liability for the financial statement
- Follow up with Legal on claims and court related issues
- Participate in reviewing Financial System, Processes and Procedures to identify required control, and recommend enhancement.
- Monitor recovery including analyses required for Management and control purposes.
- Supervise the proper and timely filing and archiving of various accounts payable documents and related records.
- Void returned payment after cash management team confirmation.
- Ensure providing required financial information to Internal & External auditors and develop action plans to address recommendations.
- Endorse user acceptance test for system enhancements.
- Provide financial awareness sessions on accounting activities as and when requested
- Provide recommendations to Management on control and compliance matters.
- Supervise the execution of compliance reviews to assess the level of compliance, identify gaps, and take corrective measures.
- Supervise Finance-related initiatives and ensure strict adherence to timelines as per the approved project plans.
- Comply with all UAE, ADNOC, ADNOC Drilling and client Asset Integrity Management codes of practice.
QUALIFICATIONS, EXPERIENCE, KNOWLEDGE & SKILLS: Minimum Qualification
- Bachelor Degree in Accounting or equivalent
Minimum Experience & Knowledge & Skills
- 8 years of progressive experience in a major industrial organization, with minimum 3 years of experience at senior accountant or financial controller level.
Professional Certifications
- Membership of Certified Professional Body is an advantage. (ACCA, CPA, ACA, CFA or equivalent.)
