Budget Controller
Khafji Joint Operations
Total years of experience :26 years, 11 Months
PRESENTLY WORKING AS BUDGET CONTROLLER IN EXPLORATION AND DEVELOPMENT DEPARTMENT (EDD) IN KHAFJI JOINT OPERATIONS (KJO)
(From November 2008 onwards)
Strategically located in the neutral zone between the Kingdom of Saudi Arabia and Kuwait, KJO is owned and operated jointly by Aramco Gulf Operations (AGOC) and Kuwait Gulf Oil Company (KGOC) to explore and exploit the vast carbon resources lying beneath the neutral zone and to equally share between the two nations the returns from the operations.
EDD is the key department of KJO which deals with offshore exploration, delineation, drilling new production & injector wells and carrying out regular capital and expense workover of the existing wells. Currently, KJO is operating with Six (6) Offshore Rigs and one (1) Land Rig. I am reporting directly to the Manager of EDD and handles multi-task functions.
Job Profile:
o o Preparing Five years Business Plan and Annual Budget of EDD.
o Taking care of all ad-hoc requirements and analysis of the top managements. Preparing all the necessary schedules for the top managements’ review.
o Preparing major & crucial reports like the Management Information System (MIS), Quarterly Project Updates (QPU), Key Performance Indicators (KPI) report of EDD.
o Analysing the cost details of each Well-wise, Rig-wise and Contract-wise operations.
o Keeping track of Tenders and Contracts; verifying the efficiency of each contractor, dealing with the
contractual issues and advising/recommending EDD management on the solutions, supervising invoice payment process, rising request for extending the existing contract period / contract value, wherever required, and raising request for new tender, wherever required.
o Managing the Tender Process of all new tender for EDD from getting the scope of work done till the award of contract.
o Keeping track of Invoices; verifying and approving all invoices for payment.
o Supervising four subordinates.
Major achievements on the job included;
o A key team member involved in developing the five year Strategic Plan and Budget of EDD for the past Six years.
o Main staff from EDD involved in the introduction new systems Business-To-Business (B2B) Supplier Relations Manager (SRM) from SAP in EDD.
o A key team member in the introduction of Enhanced Cost Reporting System (ENCORE) in KJO.
o A key member involved in developing more efficient method to capture Well-wise, Rig-wise and Contract-wise cost details.
o Keeping up-to-date tracking of contracts in SAP; initiated awarding of many new tenders, renew the contract periods for many existing contracts, and increase the contract value of one existing contract.
o Keeping up-to-date tracking of invoices in SAP and was able to reduce the issue of outstanding invoices to bare minimum during the past two years.
o All customized & new reports to management were provided on time.
Reporting to CEO of Real Estate House and Group Financial Controller of the parent company Beyout Investment Group K.S.C.C.. Previously known as Kuwait Reconstruction House (KRH). Beyout Investment group is the holding company having major investments in four subsidiaries including Real Estate House. Real Estate House mainly caters to the real estate requirements of the group.
Job Profile:
Preparing ten years Strategic Plan and annual budget for Real Estate House.
Working with Group Financial controller in consolidating the strategic plan and budget of the group.
Preparing the Annual statutory financials of Real Estate House and of the Group.
Preparing all the necessary schedules for the top managements’ review of the Annual statutory financials.
Preparing the monthly management and financial reports.
Preparing monthly cash flows.
Taking care of all adhoc requirements and analysis of the top managements.
Approving all purchase orders and payments.
Supervising one senior financial analyst, one senior account and two accountants.
Major achievements:
I have streamlined the planning and budgeting process in the company. I prepared strategic plan for ten years with expansion plan with fifteen real estate development projects all across GCC. Got the strategic plan approved by an external consultant for the purpose of valuation of the company. Enhanced the quality of information given to the management and improved the system of monthly reports vis-à-vis budgets. Support management for all adhoc real estate investment plan study. Timely providing various useful reports to management according to their requirement.
The job involves monthly consolidation of the various business units and companies of Alghanim Industries for management as well as statutory purpose. Supervision of valuation of loans, current investments and forward deals on a monthly basis. Done the statutory year end closing of two main companies of Alghanim Industries and got them audited by E&Y, Kuwait. Making the annual valuation of investments in the subsidiaries companies. Done the annual consolidated statutory financial statements of two major Parent companies of Alghanim Industries and got them audited.
Alghanim Industries is undergoing major restructuring of its accounting activities by trying to introduce SAP in most of the operating units and implement SAP, Cognos or Hyperion for consolidations.
The job involved business planning, budgeting, MIS, management accounting, material costing and systems support . Kirby, an affiliate of Alghanim industries, has an annual turnover of KD12 millions and is a major manufacturer and supplier of Pre-engineered Building Systems ( PEB) and Structural Steel.
Kirby setup two PEB plants in India during my tenure and I was involved in the green field projects.
Chartered Accountancy ( Intermediate ) passed the Intermediate exam conducted by the Institute of Chartered Accountants of India ( 1993).
Main subjects included Accounting, Auditing, Taxation, Economics & Commerce.