Financial Analyst
Schlumberger
Total years of experience :19 years, 11 Months
Schlumberger is the leading oilfield services provider, with over 155, 000 employees and revenue of$42bn. It is listed on NYSE.
• Project set up, training and financial analysis. Define business strategy, governance structure and annual business plan. Implementation of new business & financial systems, processes & procedures.
• Collect data and perform research & strategic analysis of Financial statements and business procedures to identify preliminary focus areas for improvement; validate focus areas and advice to senior management. Define top-down targets.
• Prepare and report financial reports for each project. Conduct budgeting and re-forecasting of all project costs. Ad hoc reports as required.
• Financial report of project status to Area VP. PMO updates. Perform analysis and develop business cases for prioritized initiatives. Increase visibility of current costs & improve business processes for cost optimization.
• Conduct meetings& presentations with senior management to engage segments (operations) and functions. Buy strong engagement of operations management and function managers.
• Collaborate with operation to review business processes and identify/implement opportunities for improvements, applying lean concepts and tools.
• Monitor initiatives implementation. Initiatives with clear ownership, metrics and criteria for success under continuous monitoring. Setup monitoring process and KPIs.
• Acting as finance business partner to GM to achieve annual KPIs and customer satisfaction. Ownership of all financial operations and reporting processes ensuring development of strong financial accounting practices. Responsible for finance & accounting, procurement & sourcing and warehousing functions.
• Prepare and publish timely monthly financial statements and quarterly board reports. Preparing and presenting financial performance at board meetings.
• Reporting on project performance to lenders, compliance with agreements and insurances.
• Initiate and liaise for execution of board resolutions, corporate governance procedure and legal matters.
• PnL management, participate in the preparation of the annual operating and capital budgets, and the periodic reporting of actual performance compared to budgets, rolling forecasts and earnings calls with shareholders.
• Manage all accounting & supply chain operations including Billing, A/R, A/P, Cost Accounting and Revenue Recognition. Responsible for month-end and year-end close processes and meeting reporting deadlines.
• Raise monthly O&M fixed & variable invoices. Interpret O&M agreement and PWPA to calculate revenues and liquidity damages.
• Supporting management to deliver and exceed budgeted annual targets, manage operational expenditure to suit business needs.
• Monitor cash flows and plan for dividends, capital expenditures and spare parts.
• Ensure quality control over financial transactions and financial reporting
• Manage and comply with reporting requirements and tax filings. Liaising with internal and external auditors, implementing strong internal controls and risk management.
• Develop and document business processes and accounting policies to maintain and strengthen internal controls.
• Maintain effective banking relationships, working capital facilities and performing other related duties or special projects as assigned.
• Ensure complete and up-to-date written operating procedures for all supply chain, accounting and financial controls. Monitor and maintain the finance department’s internal controls to ensure accurate recordkeeping, safeguarding of assets and appropriate segregation of duties. Ensure that other departments involved in financial activities have adequate internal controls.
• Preparing periodic financial statements, including profit and loss accounts, budgets, cash flows, variance analysis and commentaries, IBT comments & balance sheet comments.
• Providing a support service by working with all departments and the management team to help make financial decisions;
• Tax entries and preparation of tax statement of earnings for all three entities.
• Ensuring spending is kept in line with the budget;
• Advising on the financial implications and consequences of business decisions;
• Analyzing financial performance and so contributing to medium and long-term business planning/forecasts.
• Interpreting and communicating financial data to non-financial managers;
• liaising with other function managers to put the finances and accounts in context;
• Producing weekly, monthly and quarterly management reports to senior management.
• Analyzing variances and exploring potential problems with line managers
• Making appropriate recommendations and advising of the impact on the business
• Preparation of cashflow statements, income and expenditure accounts and tax returns
• Improving an effective internal control system & liaise with internal & external auditors, department managers and senior management.
• Implementation of new tools & techniques to improve accounting and reporting process & system in order to increase efficiency & productivity. Implementation of Schlumberger QCCs.
• Financial reporting and month end closing activities. Reviewing P&L with the controller and FCS submission.
• IBT comments at month end. Balance sheets comments at end quarter end.
Reviewing bank reconciliation and overseeing treasury activities.
Fixed assets control and depreciation
Product margin analysis reporting.
Implementation of Schlumberger of QCCs
Inventory costing, reporting and reconciliation.
Fixed assets control and depreciation
Oversight of Bahrain operations. Inventory and charges through no operating account.
RasLaffan B 1025MW Gas fired Power Station &60Migd Desalination plant. A joint venture of International Power-GDF Suez (Listed on LSE) &Qatar Electricity & Water Company (listed on DSM).
Skills & Responsibilities:
• Produce monthly financial statements with in-depth analysis of various operational & financial components in accordance with International Financial Reporting Standards and subsequent review with Business Manager.
• Quarterly reporting of financial position and comparatives to QEWC. Group reporting of financial statements, KPIs & management reports to QEWC & International Power.
• Monthly work in progress costs, Ad hoc reports, capitalization & apportionment of project costs during the construction phase.
• Monthly management reporting, variance analysis & forecasting and forecast review meetings. Analyzing and investigating reasons for variances with budgets & forecasts.
• Treasury & cash flow management. Sweeping bank accounts; Ensuring & maintaining liquidity to meet monthly requirements & depositing surplus funds.
• Affecting monthly loan interest payments based on LIBOR, sending monthly draw down requests and ensuring compliance with the loan agreement.
• Maintaining fixed asset register, running depreciation & preparing monthly schedules for equity, loans and intercompany transactions.
• Checking relevant interest rates & affecting periodic Hedge interest payments.
• Coordinate with Auditors to finalize regulatory tasks and timely reporting of issues
• Affecting Equity bridge loan interest payments. Monthly withholding tax payments.
• General accounting, payroll and gratuity provision & accounting.
• Periodic inventory reporting and reconciliation. LC costing, goods in transit, EPC and warranty spares.
• Reviewing bank reconciliation and all closing activities, finalization of schedules and GL maintenance.
• Improving an effective internal control system & liaise with internal & external auditors, department managers and senior management.
• Implementation of new tools & techniques to improve accounting and reporting process & system in order to increase efficiency & productivity.
• Monthly management reporting, variance analysis & forecasting and forecast review meetings. Analyzing and investigating reasons for variances with actual -v- budgets & forecasts.
• Preparation of annual budget, and periodic reviews investigating the reasons for variances.
• Assimilate, analyze and present financial and non-financial KPIs to internal stakeholders facilitating effective decision making and providing better insight of the business
• Preparation of monthly Operations & Maintenance Report and Finance Report to CEO of HUBCO & Station Manager.
• Cash flow forecasting for the year identifying shortfall & surplus. Placement of excess funds & breaking deposits where required.
• Interpretation of Operations & Maintenance Agreement and Power Purchase agreement with different entities including HUBCO, WAPDA and the Govt.
• Raising Fixed and Variable Income Invoices, Plant betterment invoicing and qualifying expenditures. Negotiating and settling disputes in light of the operations & maintenance contract.
• Managing & periodical reporting of all account receivables and account payables, ageing and payments.
• Preparation of annual business plan, in coordination with operational & business managers to meet deadlines in accordance with company policy and reporting it to regional office.
• Formulating landed cost sheets & affecting all foreign currency payments.
• Ensuing compliance of all documents with the company’s internal procedures and regulatory authorities.
• Submission of withholding tax & commercial tax. Treasury & bank correspondence.
• Establishing, operating and revising accounting systems to meet new financial requirements.
Fixed Asset Audit:
• Conducted a detailed audit of Fixed Assets of the Power Plant; comprising I&C, IT, Mechanical, Electrical, Services, Corrosion & Stores.
Skills & Responsibilities:
• Managing & periodical reporting of all receivables and payables and ageing to CEO and other departments.
• Affecting monthly variable interest payments on the running finance account.
• Monthly closing, accruals & adjustments up to finalization of accounts.
• Verify monthly payroll & invoices for payments, posting of accounting vouchers & journal entries, calculation of depreciation & unearned income etc.
• Prepare periodic reports on the organization’s financial status and co-ordinate the preparation of departmental budgets.
• Establishing, operating and revising accounting systems to meet new financial requirements.
• Treasury, local and out of station bank reconciliations and systematical checking of daily bank position to for liquidity requirements.
• Bank correspondence i.e. issuing Earnest monies, Bank guarantees, Interest payments etc.
• GL and chart of accounts maintenance.
• Submitting pension, Income tax and VAT tax returns.
• Responsible for following finance policies in area of work i.e. General Ledger/Bank work, fixed asset accounting.
• Interaction with external audit staff to ensure effective and timely completion of audit.
• Streamline and amend changes to chart of accounts.
BSc in Applied Accounting
• Chartered Financial Analyst (CFA), Applied for Charter. (All 3 levels passed)
ACCA
A levels (4 As)
O levels (6As, 2Bs)