General Accounting Analyst
BP Egypt
Total years of experience :14 years, 3 Months
▪ Leading IFRS 16 (Lease accounting) transition project and deployment in Egypt;
▪ Ownership of monthly closing activities such as month end adjustments and accruals;
▪ Ensure correctness and completeness of WND project value of work done;
▪ Responsible for inventory activities including accounting transactions, monthly reporting, balance and movement analysis and physical count activities;
▪ Maintain a robust control environment over inventory and leases;
▪ Ensure compliance with group accounting policies for related accounts;
▪ Preparing and submitting additional group requirement reports for leases and inventory;
▪ Liaise with internal audit team to ensure maximum cost recovery by correctly addressing government and partners audit exceptions;
▪ Participate in Balance sheet integrity exercise on a quarterly basis to gain assurance over balances of assets and liabilities presented in the financials;
▪ Providing training sessions to colleagues for new lease accounting standard (IFRS 16).
• Responsible for preparing and submitting monthly rolling forecast to head office;
• Collecting and analysing business updates to produce forecasted financial statements for multiple business strategies to assist management in taking business decisions;
• Analyse industry and economic changes such as forex fluctuations and assess its impact on financials and determining the market prices;
• Ensure accuracy and completeness of month end closing.
• Monitoring Capex, Opex, G&A, ELNG, Exploration, DD&A, Revenues and other costs budget in light of the group target to optimize the costs.
• Responsible for monthly and quarterly reporting packs submitted to BG group showing Egypt results and commentary on variances from budget.
• Meeting forecasts, Business Plan, and monthly reporting deadlines.
• Contribute in the one pager to summarize the monthly results to the CFO.
• Identify relevant stakeholders and working with them for gaining understanding about business updates and analysis for variances from budget and forecasts to enhance delivery of our commentary reporting.
• Taking initiatives to discuss cost savings areas and assisting in presentations for management team showing the results.
• Enhance forecast accuracy and analyzing variances from budget through effective communication with budget holders from all departments.
• Holding regular meetings with VPs to discuss forecast and business plan figures and opportunities for cost savings to reach group target.
• Holding regular meetings with the Joint venture financial controller to gain updates on activities and commentaries for Investment reporting and budgeting.
• Responsible for presentation of the Finance committee meeting with partners to present BG Investment budget for the following year and results of the previous year.
• Sending monthly reports to all VPs showing the monthly results and variances from budget.
• Assisting in submitting the yearly Exploration budget for Egypt “Opportunity Screening” to BG group through discussions with Exploration VP and Exploration team.
• Promote communication, coordination, and alignment between the planning team and other teams in the finance department, as well as with other disciplines outside the finance area.
• Enhance knowledge sharing among the team members, enhance the understanding of the links between the different areas managed in the team.
Achievements:
• Was able to create a monthly report to VPs showing their current spending position and variation from budget.
• Created a guidelines for the G&A forecast cycle and monthly actualization & reporting processes showing the steps to be followed to finalize the cycles offline and on BPC system.
• Was able to back-up the Assistant Budget Manager in the monthly reporting and Budget manager requests.
• Identified over booking of $30m in investments.
• Simplified our forecasting cost allocation process in the system and accurately estimated the time needed for tasks delivery which lead to submitting two business plans scenarios in a shorter period of time.
• Providing planning, Auditing, and Reviewing of Financial Statements for companies in various industries such as (Oil & Gas up-stream and down-stream, Energy services, Chemicals, Merchandising, Hotels and Trading and Telecommunications) in accordance with the Egyptian Standards on Auditing (ESA) and International Standards on Auditing (ISA).
• Preparing of Financial Statements including policies and disclosures by using several standards (Local GAAP & IFRS).
• Reviewing quarterly financial information.
• Assessing and testing the internal control environment through understanding and evaluating the business processes and making recommendations for improvements.
• Applying analytical procedures to financial data in order to identify risks.
• Prepare the planning phase for first-year-audit clients by understanding the business environment and risks and summarizing the business processes for evaluation and testing.
• Hold and Prepare for meetings with clients and with engagement manager and leader to discuss the planning of the engagement and further raised issues; as appropriate.
• Supervising, coaching, training and evaluating staff.
• Delegating work to staff and providing a professional and motivating environment.
• Developing and maintaining strong client relationships.
• Involved with PwC Academy as a tutor for CPA (FAR) and IFRS courses.