Manager, Financial Accounting & Statutory Reporting

About Company:

Founded in 1971, ADNOC is a leading diversified energy group, wholly owned by the Abu Dhabi Government. Our network of fully integrated businesses operates across the energy value chain, helping us to responsibly meet the demands of an ever-changing energy market. 

Already in the top tier of the lowest carbon intensity oil and gas producers in the world, we are taking significant steps to make today’s energy cleaner while  investing in the clean energies of tomorrow, strengthening our position as a reliable and responsible global energy provider. 

We are allocating an initial $23 billion to advance and accelerate lower-carbon solutions, investing in new energies and decarbonization technologies to enable our net zero by 2045 ambition and our commitment to zero methane emissions by 2030.

About The Role:

Oversee and lead the execution of all corporate accounting and statutory reporting activities, including all processing, consolidation and reporting of transactional accounting activities (e.g., accounts payable, accounts receivable and general, cost and corporate core accounting activities), in order to realize timely and correct mandatory financial information submission to relevant government entities, and ensure corporate financial compliance.

• Coordinate the preparation of financial statements, statutory reports, audit certifications and presentations to senior management on a monthly, quarterly and annual basis, in accordance with IFRS, to ensure financial reporting compliance.
• Continually evolve and enhance quality of the financial reporting (including budgets, financial statements and management information) to excellent standard, including compliance with IFRS, Implementation/Accounting agreements as appropriate.
• Promote consistency of financial reporting across the organization, acting as a centre of expertise regarding all accounting and statutory reporting related activities.
• Plan/ensure preparation of periodic trial balances and (interim) financial statements.
• Coordinate the preparation maintenance of Company Capital Projects and Fixed Assets accounts and registers.
• Direct the implementation of the organization accounting and general ledger activities, including control of direct inputs and data transfers from subsidiary ledgers, in order to ensure accurate measurement and recording of financial transactions.
• Coordinate/ensure the execution, integrity, maintenance and control of all transactional accounting activities in the corporate finance function, including:
  • Accounts payables - direct and ensure verification and processing of invoices for payment and proper maintenance and control of accounts with creditors. Ensure proper control over receipt and verification of information regarding employee loans, business expenses and payments; maintenance/control of employee accounts and resolution of queries. Ensure efficient and effective preparation of the payroll and payments.
  • Accounts Receivables – direct and ensure the processing of all outstanding invoices, ensure collections and oversee related financial reporting.
  • Plan and ensure comprehensive analysis and allocation of recharges from ADNOC Directorates to company, including coordination, control and proper reconciliation of related accounts and balances.
• Contribute to the implementation of automated and standardised processes and procedures related to the processing of financial transactions and statutory reporting, in order to drive efficiencies and ensure reporting compliance.
• Contribute to the development and implementation of standardised and centralised (financial) systems (e.g. One  ERP), to ensure Accounting & Statutory Reporting needs are met.
• Deliver a full range of tax services in compliance with laws and regulations within timeframe.
• Identify and mitigate tax risks
• Monitoring developments in tax legislation and informing management of developments in tax legislation.
• Ensure that tax returns are completed correctly.
• Develop consistent and realistic long and short term operational plans for the Department in line with the Division objectives and manage the implementation of the approved long and short term plans and ensure they are effectively converted into its performance objectives to realise the Division Objectives and established service levels.
• Develop and manage the Department annual budget in line with the Division’s business objectives and operational plans ensuring that adequate funding provision is made for all Department activities.
• Monitor expenditure against approved Department budget on a regular basis; investigate, highlight and reconcile any significant variances to ensure effective performance and cost control.
• Develop and implement appropriate Department policies, processes, systems, standards, procedures and internal controls, Company guidelines in order to support execution of the Division’s work programs in line with Company and International standards.
• Contribute to the development of the Division’s KPI’s and ensure proper cascade of the Performance objectives within the Department and establish monitoring mechanisms to ensure delivery of these objectives and promote a performance driven culture.
• Manage the implementation of the Company Performance Management System for individuals within the Department in accordance with Company approved guidelines.
• Develop knowledge, competencies and innovative spirit in the Department and support the establishment of Personal Development Plans (PDP’s), Succession Planning and Talent pipeline within the Department in coordination with the Human Capital to continuously develop employees with emphasis on UAE Nationals to meet Emiratization targets.
• Review, develop and recommend the appropriate organisation structure for the Department that will best utilise human capital while proactively incorporating sustainability into the on-going work practices to meet the business objectives.
• Contribute and support establishment of a Corporate Integrated Risk Management System within the Department, while identifying and assessing relevant domain risks and implement measures to manage and mitigate all identified risks within the Department.
• Communicate corporate business ethics and Company’s Code of Conduct to employees within the Department and ensure compliance to the Corporate Policies and guidelines.
• Promote an organization culture that encourages innovation, enhances employee motivation and supports initiatives for implementation of Change Management to continuously improve the Department operations and services.
• Recommend improvements in internal processes against best practices in pursuit of greater efficiency in line with best Industry standards in order to define intelligent solutions for issues confronting the Department.

Qualification & Experience :

• Bachelor’s degree in accounting, Business Administration or equivalent, plus a recognized professional
• 12 years of experience, including 6 years of supervisory experience in oil or process related industry, in similar field