Finance & Admin
WorleyParsons - Kuwait
Total years of experience :28 years, 1 Months
Worley, Kuwait
PMC Services for Kuwait Oil Company (KOC)
•Leads Finance Services of the project.
•Ensure day to day finance function to the operations.
•Ensures a commercial finance structure is working effectively and is represented on the operational management team; provides financial advice and commercial support to operations; actively participates in an operations management to deliver strategic objectives.
•Ensures the location has the appropriate systems, tools and processes to support the operations.
•Ensures the minimum operating controls for finance are implemented and monitored in all operations.
•Ensures accuracy and consistency in application of Accounting Policy and Standards and appropriate internal controls.
•Recruits, trains, coaches and develops Finance Team.
•Ensures approved position descriptions, KPI's, development plans, and succession plans are in place for all staff/positions; effectively counsels and evaluates the performance of team members and provides for their professional development and career growth; ensures all team members are effectively contributing to the business; supports regional staff development and succession planning efforts for the benefit of the Region as a whole.
•Creates and maintains a work environment that attracts and retains world class financial talent.
•Position and steward the implementation of approved strategies, policies and processes in location to ensure consistent best practice is delivered.
•Collaborates with other stakeholders and key internal stakeholder groups to act in a manner that supports the global business through sharing of resources, and intelligence to optimize delivery to customers, particularly for multi-location and / or global customer projects.
•Deliver HSE performance through visible leadership and support the locations to ensure zero harm.
•Involved in the development and regular review of business and operational plans for each operation.
•Develops processes that enable the business to effectively manage its costs. Identifies and implements cost reductions or leakages.
•Identifies and manages financial risks of the location.
•Responsible for delivering consistent, accurate and timely financial and statistical to all key stakeholders for decision making purposes.
•Oversight of the planning, directing and coordinating of the accounting and administration functions.
•Coordinates budget and forecast preparation for the operations and provides information supporting long range planning activities.
•Monitors and manages overheads compared to budget and forecast.
•Works closely with the corporate Tax team to ensure full compliance with all relevant tax laws.
•Overall project accounting responsibility of all projects and joint ventures, including compliance with revenue and profit recognition policies.
•Analyzes, interprets and presents financial results to senior management; comparing budget to actual, including KPI’s, key business drivers and trends, overheads, business development activities and market conditions.
•Ensure auditable compliance with relevant legal and statutory requirements and achievement of sound corporate governance and compliance with corporate policies and IFRS.
•Drives best in class cash management around DSO and WIP.
•Stewards ongoing cash forecasting; upholds strong, visible credit risk management in the sub-region.
•Actively monitors at-risk clients for financial impairment.
•Communicates regularly with Project Managers and Project Controls staff to ensure accurate and timely customer invoicing and up-to-date project cost information.
•Monitors weekly and daily AR reports and daily collections and engages business for resolutions of disputes and timely collection of outstanding accounts.
Reporting and Financial Governance
• Ensures accuracy and consistency in application of Accounting Policy and Standards and appropriate internal controls.
• Ensures the minimum operating controls for finance are implemented and monitored in all operations.
• Responsible for delivering consistent, accurate and timely financial and statistical to all key stakeholders for decision making purposes.
• Oversight of the planning, directing and coordinating of the accounting and administration functions.
• Coordinates budget and forecast preparation for the operations and provides information supporting long range planning activities.
• Monitors and manages overheads compared to budget and forecast.
• Works closely with the corporate Tax team to ensure full compliance with all relevant tax laws.
• Overall project accounting responsibility of all projects and joint ventures, including compliance with revenue and profit recognition policies.
• Analyzes, interprets and presents financial results to senior management; comparing budget to actual, including KPI’s, key business drivers and trends, overheads, business development activities and market conditions.
• Ensure auditable compliance with relevant legal and statutory requirements and achievement of sound corporate governance and compliance with corporate policies and IFRS.
Leadership
• Ensures the location has the appropriate systems, tools and processes to support the operations.
• Recruits, trains, coaches and develops Finance Team.
• Ensures approved position descriptions, KPI's, development plans, and succession plans are in place for all staff/positions; effectively counsels and evaluates the performance of team members and provides for their professional development and career growth; ensures all team members are effectively contributing to the business; supports regional staff development and succession planning efforts for the benefit of the Region as a whole.
• Creates and maintains a work environment that attracts and retains world class financial talent.
• Position and steward the implementation of approved strategies, policies and processes in location to ensure consistent best practice is delivered.
• Collaborates with other stakeholders and key internal stakeholder groups to act in a manner that supports the global business through sharing of resources, and intelligence to optimize delivery to customers, particularly for multi-location and / or global customer projects.
Commercial Support
• Ensures a commercial finance structure is working effectively and is represented on the operational management team; provides financial advice and commercial support to operations; actively participates in an operations management to deliver strategic objectives.
• Deliver HSE performance through visible leadership and support the locations to ensure zero harm.
• Involved in the development and regular review of business and operational plans for each operation.
• Develops processes that enable the business to effectively manage its costs. Identifies and implements cost reductions or leakages.
• Identifies and manages financial risks of the location.
Cash Management
• Actively monitors at-risk clients for financial impairment.
• Drives best in class cash management around DSO and WIP.
• Stewards ongoing cash forecasting; upholds strong, visible credit risk management in the sub-region.
• Communicates regularly with Project Managers and Project Controls staff to ensure accurate and timely customer invoicing and up-to-date project cost information.
• Monitors weekly and daily AR reports and daily collections and engages business for resolutions of disputes and timely collection of outstanding accounts.
• Cash dashboard completion for location management and group reporting.
• Overall responsibility for liquidity management of the location.
• Manage and coordinate the overall financial administration and provide support to management by preparing complete set of divisional financial statements including the income statement and general ledger analysis. Assist divisional managers to prepare annual budgets.
• Prepare financial statements and supporting schedules according to monthly close schedule. Facilitate and complete monthly close procedures.
• Analyze revenues, commissions and expenses to ensure they are recorded appropriately on a monthly basis.
• Assist with analyzing financial statements on a monthly basis and report on variances.
• Assist with financial and tax audits. Assist with preparing tax returns and corporate reporting requirements.
• Assist with quarterly producer commission reports; analyzing and correcting discrepancies.
• Assist with month end close; maintain various schedules such as fixed assets and truck related amortization schedules; book month end adjusting entries; reconcile bank statements.
• Participate in design, development and implementation of financial controls and tracking systems which provide reasonable assurance that financial operations are effective and efficient, assets are safeguarded, financial information is reliable, and applicable laws, policies and procedures are followed.
• Organize departmental assignments and possibly supervise payables or receivables.
• Actively participate in process improvements, such as improved integration of subsystems to our accounting processes and departmental integration.
Tasks & Responsibilities:-
•Maintaining accounting records and preparing accounts and management information for small businesses.
•Continuous management of financial systems and budgets; liaising with internal and external auditors and dealing with any financial irregularities as they arise.
•Reviewing the current systems and analyzing risk.
•Preparing financial statements, including monthly and annual accounts.
•Preparing financial management reports, including financial planning and forecasting.
•Negotiating terms with suppliers.
•Identifying options for potential solutions and assessing them for both technical and business suitability.
•Ensuring that budgets are adhered to and deadlines met. Drawing up a testing schedule for the complete system.
•Writing Procedures and user manuals. Providing training to users of a new system;
•Developing project feasibility reports and discussing them with top management with regards to future implementation.
•Working with the software developers and other end users to ensure technical compatibility and user satisfaction.
Management
Finance
Master Degree in Computer Application (MCA)
Bachelor of Commerce (B.Com. – Cost Accounting)