Head of Finance - Turkmenistan

Requisition ID 2816 - Posted 10/17/2024 - Dragon Oil (Turkmenistan) Limited - DOTL-Ashgabat

Job Purpose

• Business partnering with key stakeholders on financial and commercial matters related to planning, budgeting, performance, cost analysis, cost saving, forecasting and implementing required internal control compliance.
• Ensure compliance with Production Sharing Agreement (PSA) including obligations relating to statutory and local reporting, budgeting, cost recovery and taxation.

Job Responsibilities

• Plan and control the allocation of DOTL finance and accounting team resources in a manner that will ensure all finance and accounting activities are performed in the most efficient and cost-effective way.
• Direct and supervise the day-to-day activities of the DOTL finance and accounting team.
• Keep up-to-date on new and changes to laws and regulations relevant to DOTL accounting, and develop new or amend existing documents (guidelines, standards, procedures, etc.) when necessary.
• In conjunction with Chief Financial Officer and International Financial Operations Manager, develop Key Performance Indicators (KPIs), goals and objectives for the DOTL finance and accounting team.
• Monitor working practices and processes to ensure DOTL finance and accounting KPIs, goals and objectives are met.
• Provide procedural, controls and technical guidance to staff and assist them in resolving queries and problems.
• Provide input to develop appropriate staffing level to ensure that DOTL finance and accounting operations are handled effectively and efficiently. 1. Supervise monthly closing process to ensure that all related activities are completed in accordance with the schedule to facilitate timely reporting.
• Direct and supervise together with line manager the Group 5-Year Business and Annual Operating Plan and Budget and its revision with close co-ordinations with DO Finance Head Office.
• Direct and supervise preparation of Annual Work Program & Budget (WP&B) and its narrative as per “Agreement” (PSA/PSC/EDPSA/C) and participate during MCM.
• Ensure periodic management and other fiscal regulatory reporting on transactions, payables and other information as may be required by the Head Office and under the Production Sharing Agreement such as cost recovery, budget variance reporting, AFE and fixed assets register.
• Direct and supervise the preparation of variance report and cost control through detailed General Ledger and budget analysis to ensure cost correctly captured and reported to enable full cost recovery. Adverse trends identified; recommend measures to address issues (including non-conformities). As required inform management of recommended courses of action to mitigate losses and maximize profits, when significant events occur that can adversely affect the business long-term goals.

Education

• Bachelor’s Degree in Finance, Accounting, Economics or Business Studies
• 10 - 15 years oil and gas industry finance, tax and accounting experience, 5 years in a supervisor capacity, recognized professional accounting qualification.

Competencies

• Financial Authority Manual (FAM)
• Review of Contractor and Supplier Invoices
• Department Objectives and KPIs
• Financial Risk Management
• Management of Change
• Audit Process
• Organization and Management of Meetings
• Standard Operating Procedures
• Joint Venture Audits
• Corporate Governance
• Corporate Compliance
• Annual Audited Financial Statements
• Document Control (Technical)
• Electronic Document Management - Business Documents
• Cost Control
• Cost Recovery - Venture and Operating Agreements and Contracts
• Corporate Reporting - Internal
• Joint Venture Reporting
• Digital Copyrights
• Vendor and Contractor Financial Risk Assessment
• Accounting Fundamentals
• Accounts Payable
• Finance and Accounting System (User Support)
• Accounts Receivable
• Company Accounting Practices
• Audit Process - Finance
• Internal Control
• Petroleum Project Accounting
• Preparation of Financial Statements and Consolidation
• Accruals and Value of Work Done Calculations
• Financial Close Out of Projects and Contracts
• Finance and Accounting System (Reporting)
• Finance and Accounting System (Accounting)
• Business Continuity and Disaster Recovery Planning
• Report writing
• Planning and Organizing
• Business Data Management
• Annual Work Program and Budget (WP&B)
• Production Sharing Contract Taxation
• Internal and External Tax Experts
• FCW, VAT and PIC Taxes
• Procurement Process - Financial Review
• Financial Compliance - Venture and Operating Agreements and Contracts
• Financial Reporting - Internal & External
• Project Financing

Certifications

• Certificate:  CIMA/ACCA/ICAEW/CPA

To get additional information and apply for the position, please follow the link.