Financial Controller- (AIQ)

Job Description

About AIQAIQ is a new joint venture company between ADNOC and Group 42, which focuses on developing artificial intelligence technologies in the United Arab Emirates. AIQ develops and commercializes AI products and applications for the oil and gas industry. It aims in providing end-to-end solutions by using its data, cloud and talents to develop AI solutions that seek to reduce costs and generate revenue for its clients.AIQ embodies an innovative and entrepreneurial spirit that embraces challenges to push boundaries and seeks to welcome professionals to its team that share the desire to make meaningful and impactful contributions to its mission. Always on the cutting edge of technology, AIQ provides its talent all the opportunities to thrive and excel. Working at AIQ includes dealing with massive data sets, an AI infrastructure that is powered by the latest NVIDIA GPU cloud computing platform and access to limitless computing, storage and network resources.JOB PURPOSE:Supervise the preparation and submission of, quarterly and yearly financial consolidated financial statements across the ADNOC Group (HQ and Group Companies), oversee the coordination, provide related support, and ensure that all Directorates and Group Companies follow the applicable financial Group-wide guidelines, procedures and frameworks, in order to drive compliance of financial reporting and fulfil requirements of external auditors.KEY ACCOUNTABILITIES

• Contribute to the development and oversee the implementation of standardised Group-wide guidelines, procedures and frameworks (for HQ and Group Companies) that drive uniform consolidated reporting across the organisation.
• Contribute to continuous improvement and alignment of policies, procedures and systems related to (consolidated) reporting (e.g. One ERP), liaising with other departments as necessary, in order to contribute to the accuracy, timeliness and usefulness of financial reporting activities.
• Ensure that all Directorates and Group Companies follow and comply with the established financial reporting guidelines, procedures and frameworks, in line with internal and external audit requirements.
• Oversee the coordination with various Business Line/Corporate Directorates and the Finance function across the ADNOC Group (HQ and Group Companies), in order to ensure they are provided with the required financial services and support that allow for a prompt resolution of accounting issues and an efficient communication flow between the various Directorates, ADNOC Subsidiaries and the Financial Control Unit.
• Manage the relationship between ADNOC and ADAA, in cooperation with Internal Controls, for all matters related to Audit issues, findings, comments, information request and compliance, and financial statements.
• Support the appointment of External Auditors and responsible for matters related to:
  • RFP to assign the auditors
  • Contract renewal
  • Endorsing their invoices
  • Coordination of all meeting within ADNOC
  • Handling all the admin issues including passes to ADNOC premises
  • Arranging for their presentation to ADNOC audit committee
• Manage the process of preparing the consolidated and interim financial statements (and notes to the consolidated financial statements), including monthly reporting.
• Review and approve consolidation entries - a key aspect in the preparation of the consolidated financial statements - and assist ADNOC entities in the finalisation of the related balance reconciliations.
• Support the administration of audit reports from both Government and External auditors, and ensure a timely and efficient follow-up on audit findings.
• Lead the financial governance framework and ensure the timely and efficient closure of the accounts on a monthly basis.
• Ensure the participation of the Group Financial Planning Budgeting and Reporting Unit in the Audit Committees of various Group Companies and Subsidiaries, in order to enable an efficient communication flow between the General Ledger function, Audit function, the Internal Control Department and the lnternal Auditor of the relevant Group Companies.
• Discuss replies to audit observations and recommendations to auditors with the Internal Control Department, and contribute in the timely and appropriate response to Auditors on their audit findings and recommendations.
• Initiate analyses leading to the identification of financial risks, and assess the potential risk and vulnerability it creates for the business and the Group in relation to operational factors of cost and quality, classification of capital or revenue expense and significance as to frequency of occurrences.
• Direct the collection of financial documents and information from various ADNOC entities (such as Budgets, Performance Measures, Financial policies, Fixed Assets valuation), and ensure a proper follow-up is performed whenever required.
• Participate in selecting the Group Companies? external auditors.
• Meet with the CFOs of Group Subsidiaries to address any significant audit issues and to keep them informed of emerging trends and successful practices in the audit compliance.
• Finalise the required assessment of the impact of new International Financial Reporting Standards on ADNOC Consolidated financial statements, and prepare related memos and impact analyses.
• Provide advisory services to Group companies and BLDs on various matters, such as financial reporting & analysis, IFRS, contractual arrangements and financial compliance.
• Review and analyse financial statements and group performance.
• Provide analytical explanations on consolidated accounts.

Generic AccountabilitiesManagement

• Plan and supervise the activities of the personnel and resources of the Section to achieve the Department objectives in an efficient and cost-conscious manner while ensuring implementation of approved operational plans for the Section in line with Department objectives.
• Develop the knowledge, competencies and innovative spirit in the Section and support the establishment of Personal Development Plans (PDP?s), Succession Planning and Talent pipeline within the Section in coordination with the Human Capability Group to continuously develop employees with emphasis on UAE Nationals to meet Emiratization targets.

Budgets and Operational Plans

• Compile and provide input for preparation of the Department budgets and regularly monitor expenditure against approved the Section budget levels.
• Investigate, highlight and reconcile any significant variances to ensure effective performance and cost control.

Policies, Systems, Processes & Procedures

• Lead the implementation of approved Section policies, processes, systems, standards, procedures and internal controls in order to support execution of the Department work programs in line with Company and International standards.

Performance Management

Keyskills :