OANDO Nigeria - Head of Finance

Vacancy Title: Head of Finance

Department: Finance

 

 

Date Published

Mar 7, 2012

Closing Date

Mar 21, 2012

Vacancy Description

JOB SUMMARY

The Head of Finance works with the EDCD, to ensure delivery of financial strategy development and execution in Oando Gas & Power, and is responsible for ensuring the integration of both operational and financial measures aimed at efficiency, growth and profitability of the business in the long-term.  The position incumbent has charge of day-to-day finance and accounting transactions and ensures effective Treasury (Assets & Liabilities management) and liquidity positions are maintained. The incumbent works closely with the EDCD to design, lead, monitor and review the execution of all capital funding, capital allocation and financing transactions that are either being assessed or undertaken by OGP.  Budgeting, financial performance monitoring and reporting are also key responsibilities of the function.

                

The role is responsible for tracking (and/or developing), managing and reporting on the financing and expenditure profile of the Gas Sale and Purchase Contracts, Power Purchase Agreements, and other forms of products offerings of subsidiary companies under OGP, while ensuring rigorous adherence to approved targets, goals and timelines, and taking decisions as regards the financing of the project, as may be necessary to keep the work program fully on track.

In addition, the Head of Finance will play a support role to the EDCD in representing OGP’s and subsidiary companies’ interests in all investment and financial decisions, and in presentations and meetings related to the promotion, development, funding, delivery and evaluation of OGP’s and subsidiary companies’ operations within approved policy and authority limits.  To this end the incumbent is expected to effectively manage the acquisition, use, maintenance and disposal of all capital and financial assets of the Company. 

Finally, the position incumbent ensures OGP is continually able to attract retain and motivate high performing employees and also ensures day-to-day office operations are effective and efficient.

SPECIFIC DUTIES & RESPONSIBILITIES

 Strategic

• Develops and articulates a comprehensive Financial and Risk Management strategy for OGP.
• Acts as chief advisor and strategist providing needed support to the EDCD, and MD/CEO, with respect to the identification of Financial risk, and the resolution of attendant issues.
• Liaises with external Financial Services organisations, as may be required, to ensure the business remains adequately funded in terms of Debt, Equity and Working Capital requirements.
• Expands OGP’s outreach activities and referral networks to ensure valuable and effective financial partnerships and alliances are forged that facilitate OGP’s growth and business expansion requirements over time.
• Ensures that he/she designs/adopts appropriate financial strategies and Instruments to ensure that the constant stream of business development opportunities is adequately funded/financed. In this role the incumbent will be a subject matter expert, with considerable hands-on experience/exposure.
• Ensures the existence of adequate and effective Human Resource Management systems, policies and processes that aid the motivation and performance development of employees.

Operational

• Leads the formulation and execution of OGP’s corporate level investment and financial management/financing programs for enhancing business growth and operating efficiency.
• Defines financial targets (cash flow, required return on capital) and ensures the sourcing of external debt and equity financing required to support the long-term growth and stability of the Company.
• Establishes and maintains an effective financial management framework covering treasury, tax planning, financial control and management information systems (MIS) processes and which support OGP’s mission and business objectives and enable the effortless production of relevant periodic reports. 
• Ensures the effective integration of the Company’s strategic plan with its financial management strategies and in so doing regularly interfaces with the Oando Plc Corporate Head Office as well as individual operating entities within the Group to determine areas of mutual collaboration towards the achievement of Group financial and business objectives.
• Develops and implements effective Finance and Accounting systems, processes, procedures and policies which provide effective controls in the deployment and utilisation of capital and assets.
• Manages the budgetary process to ensure all budgets adequately reflect periodic resource requirements and revenue estimates for the business; co-ordinates the periodic financial performance monitoring and reporting activities of the Company.
• Approves all finance & accounting transactions and ensures processes/procedures are effective and comply with regulatory and statutory requirements; monitors the Company’s financial books/position and signs off on any adjustments to ensure effective controls.
• Ensures the provision of timely, comprehensive and accurate Management Accounts that enable decision making processes.
• Manages OGP’s Assets and Liabilities position to ensure current knowledge of the Company’s cost of funds and product pricing requirements; oversees regular banking and treasury transactions and ensures adequate funds/liquidity levels are maintained to support daily business operations.  Ensures surplus funds are properly invested.
• Supervises the preparation and dispatch of periodic statutory returns to regulatory authorities as required.
• Effectively manages the Company’s asset, debt, cost and profitability position and establishes an appropriate framework for the prompt rendition of returns to Investors, and for repayments of debt (monitors/manages facilities with financial institutions).  
• Effectively manages Company Taxes and works through OGP’s leadership and management team to reduce costs, enhance revenues, achieve effective utilisation of capital and attain projected IRR/ROC targets.
• Where appropriate, represents OGP to the external Financing community through effective communications, participation in Project Financing workshops and other events.
• Reports known contraventions of statutory regulations and/or Group policy to the EDCD and MD/CEO.
• Plans and coordinates the activities of statutory examiners and manages relevant 3^rd party relationships (e.g. with bankers and regulatory authorities).
• Responds to Audit/Examination queries as may be required from time to time.
• Ensures the creation and definition of appropriate Divisional capital allocation policy based on strict adherence to balance sheet management
• Works closely with the EDCD to lead, monitor and review the execution of all capital funding transactions that are either being assessed or undertaken by the Group
• Performs other assigned duties as delegated by the EDCD from time to time.

QUALIFICATIONS & EXPERIENCE

• 1^st degree in Finance, Investment Management, Business Administration, Economics or Accounting
• .
• Professional Accreditation (ACA)
• 10 - 15 years cognate work experience as a Financial Controller, Financial or Management Accountant, the last 5 of which must have been in a Senior Management role within a reputable and structured business environment

KNOWLEDGE & SKILLS REQUIRED

• Oil & Gas Industry Dynamics
• Foreign Exchange and Money Markets
• Business & Financial Strategy Development and Execution
• Gas Plant & Pipeline Operations
• Advanced Accounting
• Finance & Investment Management
• Project Finance
• Taxation
• Assets and Liabilities Management
• Networking
• Negotiation
• Business Performance Monitoring
• HRM systems & policies
• Creativity & Innovation
• Organisation/Administration
• Relationship Management
• Leadership/Supervisory
• Political Savvy
• Team playing
• Oral & Written Communication
• PC Utilisation
•  

Click here to apply