Manager - Systems - Procedures & Internal Control

Job Description

About Company:We are one of ADNOCu2019s gas producers, a market leader in sour gas field development, and a major international sulfur producer. We have the capacity to produce over 1 billion cubic feet of sour gas per day.We are a joint venture company between ADNOC, which owns a 60% share, and Occidental Petroleum (OXY), which owns a 40% share. We were established in 2010 to maximize the value of the Shah Gas Field. Since then, we have built a reputation as a reliable supplier of gas and one of the worldu2019s leading sulfur producers.We are helping to deliver ADNOCu2019s strategic imperative to increase the gas supply to the UAE. We aim to meet the growing gas requirements of the nation, and strengthen our position as a major international sulfur producer.About the Role:

• Manage the development, review, documentation and updating of centralised and unified financial policies for the Company, ensure all approved financial and operational policies are compiled in the manual form and updated as necessary. Ensure policies and procedures are updated on a regular basis and any change must be communicated to the end users including intranet upload.
• Lead benchmark efforts with ADNOC and ISH to adopt best practice for developing and updating the financial and operational policies.
• Manage updates for changes in the existing financial policies as and when there is a change and alignment with International Standards (Globally Accepted Accounting Principle - GAAP, International Financial Reporting Standards - IFRS).
• Establish standards for the preparation of financial policies manuals, including formats, content, presentation style, the process to be followed for obtaining management approval and issue to users.

• Receive frequent enquiries from users on the implementation of policies related to the daily activities, including providing proper guidance, consultation and advice on the proper action to be taken, in line with relevant policy guidelines.

Financial Delegation of Authorities

• Responsible for managing development and updating of Financial Delegation of Authorities Level-1 & Level 2 and its alignment with ADNOC Group

Financial Budgeting & Reporting Manuals

• Update ADNOC Financial Reporting Manual documenting financial statements, disclosures, and outline formats for submission to Management.
• Oversee the review, preparation and updating of the Financial Budgeting and Reporting policies and guidelines, to be used for preparation and reporting purposes.

Financial Procedures

• Manage and Lead the development, documentation and updating of standardised financial and non-financial procedures across the Company, in coordination with the concerned users. Submit them to the management for approval and conduct benchmark between IOCs, to assure best practice is adopted. Develop guidelines and accounting procedures for the effective usage of financial systems.

• Lead the development and implementation of data governance processes and related systems (e.g., Master Data) to ensure timely insight into correct financial data.
• Lead the studies and analyses of the existing financial procedures including the recommended simplified and efficient course of action.
• Design and review forms in support of approved methods and procedures and advise on their proper use.
• Update ADNOC Common Chart of Accounts and Unified Chart of Accounts, as and when required.
• Ensure responses to enquiries from the various users on the procedures and practices related to the daily activities and their implementation, and provide the proper guidance, consultation and advice on the proper action to be taken.

• Develop and provide any reports as may be required to Senior Management for ad-hoc assignments.

Internal Controls Over Financial Reporting (ICOFR) - Internal Controls

• Responsible collaborating the ICOFR journey of the company and align with ADNOC PMO.
• Implement a strong and robust internal control environment across ASG encompassing various divisions and areas which have an impact over financial reporting.

• Review updates and presentations on the status of the Internal control over financial reporting activities and tasks.
• Approve ICFR guidelines and procedures that are implemented at all levels of organization.
• Approve scoping document for Internal controls and alignment with the External auditors
• Review and agree the gap tracker for all material weaknesses (high risk), Significant deficiencies (Medium Risk) or Deficiencies (Low Risk) identified with external auditors.
• Review annual risk assessment, design and implement internal controls over financial reporting.

• Approve the ICOFR certificate prior to getting CFO and CEO sign-off.
• Review the monthly internal control score card and ensure timely submission to ADNOC.
• Regularly update the status on ICOFR to those charged with governance including FINCO and Audit Committee.
• Manage the ICOFR audit and ensure no material deficiencies are highlighted which would reflect a weakness in the control environment and an unqualified opinion is issued along with the financial statements.

Qualification and Experience:

• Bacheloru2019s Degree in Finance, Accounting & Economics,
• Masteru2019s degree or higher is preferred.
• 15 years of professional experience in developing financial policies and procedures, 8 years in a Managerial level position.
• Experience in International Financial Reporting System (IFRS) and or other accounting standards.
• Sound working knowledge of SAP Hanna

Keyskills :
Financial Reporting IFRS

About Company

The Abu Dhabi National Oil Company or ADNOC is the state-owned oil company of the United Arab Emirates. It is the world's 12th largest oil company by production. As of 2021, the company has an oil production capacity exceeding 4 million b/d with plans to increase to 5 million bpd by 2030.