Financial and Cost Controller
Seadrill Management AME
Total years of experience :22 years, 4 Months
• Preparation of monthly, quarterly and annual reporting packs which involve KPI reporting, PL analysis, balance sheet reconciliations and intercompany reconciliations;
• Preparation, review and presentation of financial budgets and forecasts to management;
• Ensuring timely completion and submission of key deliverables for month end close
• Cash management and forecasting for Country offices;
• Review of monthly Corporate tax, withholding taxes and personal income tax computations and payments;
• Weekly review of receivables aging and ensuring collections are made timely to enable smooth cash flows;
• Ensuring day to day operations are carried out in accordance with established budgets and group policies and procedures;
• Coordinating with customers, vendors, rig managers, auditors and various departments within Seadrill on a regular basis;
• Invoice review and payment authorizations;
• Facilitating external and internal audits and collaborating with various departments within Seadrill Group; and
• Adherence to SOX internal/external audit requirements
My responsibilities included;
• Reviewing income statements and balance sheets for the assigned rigs and legal entities;
• Preparation of financial analysis and reporting schedules for assigned rigs and profit centers;
• Responsible for all the reconciliations and collections of due account receivable on
• regular and monthly basis with all debtors;
• Preparing and presenting budgets for assigned rigs and profit centers;
• Monitoring and review of Capex and special items identified in budget process;
• Facilitating external & internal audits and collaborating with various finance teams within the Seadrill Group;
• Review of AP invoices and approval thereof for payment;
• Participating in the roll out the new Oracle ERP system and designated super user;
• Formulation of / and participation in process improvement; and
• Training and mentoring of rig accountants.
Worked with Seadrill, as a Cost Controller for the Africa and Middle East Region. My key responsibilities as a Cost Controller included:
• General ledger accounting and balance sheet reconciliation (AP, AR, revenue and expense transactions);
• P&L analysis & financial projection including KPI reporting;
• Preparing standard and ad-hoc reports/analysis and actively participating in the budgeting process;
• Coordinating with customers, vendors, rig managers, auditors and various departments within Seadrill on a regular basis;
• Maintaining thorough and accurate documentation, in accordance with the company policy and audit requirements;and
• Adoc reporting
Internal and external auditing, policies and procedures
• Development of overall audit plan based on understanding of the entity, assessment of its business, related assurance risks, and developing procedures to address them effectively.
• Planned risk based internal and external audits of entities and departments, escalated audit observations, partnered with the department heads to develop management responses and ensured full compliance with agreed on audit Development of internal controls, policies and procedures manuals and follow up on implementation thereof.
• Review of compliance with internal policies and procedures and external regulations against best practices.
• Review of work performed by internal audit functions and recommendations on improvement points.
• Analytical review of financial statements and individual components for reasonableness and for compliance with expected trend or results
• Led audit engagement teams for both internal and external audit in various industries;
• Gained an understanding of regulatory environment of diversified industries, key business processes, the accounting and internal control systems of several organizations.
Communicated significant audit issues to client and resolved technical queries.
• Prepared internal control recommendations reports which also included business advice;
• Preparing GAAP and IFRS compliant financial statements;
• Reviewing financial statement disclosures for adequacy, appropriateness and accuracy;
• Reviewing financial statements for compliance with International Financial Reporting Standards and International accounting standards;
• Financial analysis and planning audit assignments;
• Preparation of audit strategy documents; Management letter and presentation thereof to the board of directors;
• Communicating important audit issues to the partner;
• Communicating to client management important issues arising out of the audit;
• Supervising and directing assistants;
• Coordinating audit work and being lead audit on teams of 3-5 people and reviewing the work of assistants for quality and relevance;
• Responding to technical questions raised by assistants and client management;
• Prepare internal control recommendations reports which covered internal control weaknesses and business advice; and
• Client relationship management.