Job title

Specialist Financial Planning & Analysis

Grade

Stream

Upstream E&P

Function

F&P - Financial Planning & Analysis

Location

Oman – Muscat

Budget control

*OPEX and/or CAPEX and/or Revenue amount as relevant*

Reporting to

Head of FP&A

Direct Reports

0

Job Purpose

Execute assigned end-to-end activities and tasks at Financial Planning & Analysis – Business planning OQ Corporate, under Head of Business planning scope, acting as team player for (1) Leading Capital Planning & Financial, Opex, and Markets & Margins purposes among the OQ Group for both annual planning cycles and ongoing re-forecasts updates, (2) Implement the End-to-End Reporting for OQ E&P assigned tasks, (3) Gather, analyses, align and report accurate information across E&P, (4) Critically evaluate the information gathered from multiple sources, on key drivers behind the numbers and agree on comments to be incorporated into the reports Contribute to the monthly group reporting of OQ-E&P, (5) Provide ad-hoc analysis on the Business, Financial and Operational performance of the downstream, upstream and commercial businesses based on business plans, actuals and benchmarks, (6) Contribute to the E&P performance review meetings with the Executive team (7) Provide insights and recommendations on specific business and operational issues in alignment with the stakeholders, (8) Design, develop, implement and update the E&P Performance Framework, Policies, Processes and Procedures, and (9) Design and develop a database for performance requirements & KPIs in order to make informed decisions. (Financial performance versus the budget); in order to ensure its compliance with the conditions agreed in the SLA and relevant policies and ensure the continuity and efficiency of the business.

The position will act in accordance with the Group’s Mission, Vision, Values & Strategies, as well as, policies, guidelines and i standards, supported by an IT Technology platform, HSE standards, Omani’s government & other legal justifications, and best international practices in consonance with national objectives.

Main Tasks And Responsibilities

Capital Planning & Financial:

• Execute OQ Capital Planning Five-year forecast during annual Business Planning Cycle.
• Support the team in data collection from major focal points in the businesses.
• Conduct data analysis and challenge sessions based on OQ Strategy and Board of Directors direction.
• Consolidate submitted Capital plan for OQ Leadership and Board of Director endorsement and approval.
• Develop Monthly Latest Estimate on Capex Actual expenditure and perform Variance analysis against Annual Approved budget.
• Prepare Capital Planning reports for internal and external stakeholders.
• Prepare Consolidated Financials (Income Statement, Balance Sheet and Cash Flow Statements) for five-year planning cycle using the tools and models in hand.
• Coordinate financial and other data collection from OQ owned entities
• Develop Financial Statement for legal entities owned by OQ, when needed with support of various stakeholders in the organization.
• Review and analyze Financial Statements from legal entities to ensure accuracy and completeness.
• Prepare financial summary for OQ Board of Directors and Leadership teams.
  
  

OPEX

• Review OPEX impact on business planning across different marketplaces to predict and develop OPEX frameworks for the annual planning cycle and ongoing re-forecast updates.
• Ensure work quality standards and deadlines are met.
• Guide & provide market perspectives and positions for the development of the Group strategic goals and directions in all areas (Downstream, Upstream and Commercial).
• Produce suite of reports and documents, including annual business plan, forecast, budget commentary, reforecasts, key BU and Corporate KPI reports in collaborations with other Centres of Excellence.
• Execute the annual cycle of business planning / budgeting, as well as other periodic cycles of re-forecasting and reporting
• Contribute to the development of best-in class planning, budgeting, forecasting and reporting for processes, documents and performance indicators. Embed this into the day to day activities.
• Work closely with performance and reporting teams.
• Promote and encourage the continuous learning and development among team members including knowledge sharing activities.
• Contribute to the development and implementation of departmental policies, systems, processes, procedures and controls. Continuously identify and recommend improvements while ensuring compliance with the group guidelines, international / local standards and relevant legislation.
  
  

Markets & Margins

• Review Market & Margins impact on business planning across different marketplaces to predict and develop Market & Margins frameworks for the annual planning cycle and ongoing re-forecast updates.
• Ensure work quality standards and deadlines are met.
• Guide & provide market perspectives and positions for the development of the Group strategic goals and directions in all areas (Downstream, Upstream and Commercial).
• Produce suite of reports and documents, including annual business plan, forecast, budget commentary, reforecasts, key BU and Corporate KPI reports in collaborations with other Centres of Excellence
• Execute the annual cycle of business planning / budgeting, as well as other periodic cycles of re-forecasting and reporting
• Contribute to the development of best-in class planning, budgeting, forecasting and reporting for processes, documents and performance indicators. Embed this into the day-to-day activities.
• Work closely with performance and reporting teams.
• Promote and encourage the continuous learning and development among team members including knowledge sharing activities.
  
  

Reporting

• Implement the End-to-End Reporting to assigned stream (Upstream, Downstream, Commercial, Project, People Technology and Culture, Finance Strategy, IMO, Assurance)
• Gather, analyse, align and report accurate information across the Group.
• Critically evaluate the information gathered from multiple sources, on key drivers behind the numbers and agree on comments to be incorporated into the reports Contribute to the monthly group reporting for the ILT.
• Continuously monitor KPI’s and develop dashboard for the Project
• Assess financial performance versus the budget so that the business is aware of anticipated Opex, Capex , areas of unsatisfactory performance and potential areas of cost reduction.
• Reconcile conflicts, de-compose high-level information into details, and abstract up from low-level information to build a general understanding of the information.
• Take ownership of Project Reporting Function and ensure that all reports (daily, weekly and monthly) meet owner’s expectations
• Continuously improve Business Reporting and Monitoring capabilities, processes, procedures, practices and systems.
• Design & implement Group-level reports using contemporary business dashboard/scorecard solutions.
• Design and develop Data Base for meeting the reporting requirements of the Management in order to make informed decisions.
• Own and maintain reporting calendar. Ensure that reports are delivered on time with agreed content
• Work with Group and provide necessary Project inputs for various reports/activities (including but not limited to OpEx and capex planning, budgeting, planning etc.)
  
  

Analysis

• Provide ad-hoc analysis on the Business, Financial and Operational performance of the downstream, upstream and commercial businesses based on business plans, actuals and benchmarks.
• Contribute to the monthly group performance review meetings with the ILT.
• Provide insights and recommendations on specific business and operational issues in alignment with the stakeholders.
• Ensure the organisation is moving to its strategic direction as per the overall organizational strategy and long-term objectives.
• Design, develop, implement and update the group Performance Framework, Policies, Processes and Procedures.
• Execute the activities of the Performance Management department ensuring work quality standards and deadlines are met.
• Continuously improve business performance capabilities, processes, procedures, practices and systems.
• Design and develop a database for performance requirements & KPIs in order to make informed decisions.
• Assess financial performance versus the budget so that the business is aware of anticipated costs/revenues, areas of unsatisfactory performance, and potential areas of cost reduction.
• Critically evaluate the information gathered from multiple sources, reconcile conflicts, de-compose high-level information into details, and abstract up from low-level information to build a general understanding of the information
• Continuously improve Business Reporting and Monitoring capabilities, processes, procedures, practices and systems.
• Design & implement Group-level reports using contemporary business dashboard/scorecard solutions.
• Design and develop Data Base for meeting the performance requirements of the Management and allow them to make informed decisions.
• Work closely with reporting and business planning teams.
  
  

Key interactions

Internal: All Finance functions, Budget End Users from all streams (Upstream, Downstream, Alternative Energy and Corporate functions) and Integrated Leadership Team.

External: Oman Investment Authority (OIA)

Notable Working Conditions. Office based, moderate to intensive computer screen use.

Education Requirements

• Minimum qualification is a bachelor’s degree in bachelor’s degree in Accounting or Finance.
• Professional Qualification is an advantage.
  
  

Language

Excellent in reading, writing, and speaking English Language Required and Arabic Language is desired.

Background And Experience

Competencies and skills

• 5+ years of relevant experience
  
  

Both

• 8+ years’ work experience in Budgeting and business Planning.
• Knowledge in constructing financial statements and consolidation of financial statements.
• Experience in Project Management/Reporting and Presentations such as (Management Reporting and KPI Reporting)
• Working Experience of Financial Modelling tools
• Experience in Performance Management.
• Exposure to oil and gas / Energy industry including both downstream and/or upstream
  
  

Soft

• Strong communication skills (Written and Verbal)
• Time Management and able to handle workload
• Highly skilled in Microsoft Excel
• Proactive person
  
  

Technical

• Working knowledge of Microsoft Excel, Power Point, ERP systems.
• Capital Planning & Financial:
• OPEX
• Markets & Margins
• Working Experience of Financial Modelling tools/software is an added advantage.
• Financial Modelling
• Performance Management
• Financial Analysis