Paragon GE is looking for a Head of Finance position with an E&P company in Kazakhstan.
This is a rotational role (35 x35) based in Kazakhstan and reports to Head of International Financial Operations.
PositionTitle: Head of Finance
StafforTemp: Staff
Rotation: 35 x 35
Expectedpackage: To be discussed.
Location: Kazakhstan
Position Overview:
Provide strategic, commercial and financial guidance as a Business Partner to key stakeholders including the CFO and COO on matters relating to compliance, budgets and expenditures.
Lead the Finance function in line with the Finance mission to be Role Model Guardian through protecting the financial resources of the organization and excel in providing accurate and reliable financial information to stakeholders by using the latest AI technologies.
Oversee the in-country Finance function to deliver seamless end-to-end operations including Accounts Payable, Treasury, Tax, Payroll, Accounting, Budgeting and Reporting. Regularly assess risks and put in place mitigation plans to address them timely whist ensuring compliance with the Production Sharing Agreement (PSA) including obligations relating to statutory and local reporting as well as the Company’s policies and procedures.
Duties, Responsibilities, Performance Standards & Percentage of Time:
Duty or Responsibility
Management: Supervise and manage effectively the members of the finance and accounting team.
Plan and control the allocation of Finance team resources in a manner that will ensure all activities are performed in the most efficient and cost-effective way.
Direct and supervise the day-to-day activities of the Finance team.
In conjunction with CFO and Head of International Finance Operations, contribute to the development of Key Performance Indicators (KPIs), goals and objectives for the Finance team.
Monitor working practices and processes to ensure the Finance team KPIs, goals and objectives are met.
Provide input to develop appropriate staffing level to ensure that the Finance team operations are handled effectively and efficiently.
Keep up-to-date on new and changes to laws and regulations relevant to the company and the Finance function, and contribute to the development of new or amendment of existing documents (guidelines, standards, procedures, etc.) when necessary.
Provide procedural, controls and technical guidance to staff and assist them in resolving queries and problems.
Operational: Perform and direct finance and accounting operations; ensure that proper controls and standards are in place and all activities comply with regulatory requirements and company policy.
General
Supervise monthly closing process to ensure that all related activities are completed in accordance with the schedule to facilitate timely reporting.
Ensure that all reconciliations are performed and that the company's consolidation practices and principles are followed.
Review and approve all accounting journals prepared by the Finance team through ERP.
Provide direction in the preparation of audit packs.
Provide direction and ensure timely provision of information as may be required by both internal and external stakeholders.
Review and provide input to contractual clauses of tendering documents relating to financial matters (e.g. tax regulations, payment, invoicing etc.)
Accounts Payable, Treasury & General Ledger
Review and monitor Accounts Payable Aging to ensure a healthy balance sheet is always maintained for the Company. Act as necessary on timely clearance of old balances (if any).
Maintain good communication and relationship with vendors by attending to their issues on a timely manner. Ensure payment on time to vendors is always met.
Review and approve all payment orders prepared by Treasury Accountant for payments to vendors and local salary according to schedule.
Review and approve quarterly Central Bank Reports. Ensure timely submission according to schedule.
Review and monitor all balance sheet reconciliations and reconciling items to ensure a healthy balance sheet position is attained by the Company. Act as necessary on timely clearance of old balances (if any).
Review and approve balance confirmation required by external auditors when requested, including for vendor’s auditors.
Tax & Payroll
Review and ensure timely filing of annual and periodic tax returns applicable to the company’s operations in the region and resolve in a timely manner any issues arising in close co-ordination with Finance Head Office.
Review and monitor all tax related balance sheet reconciliations and reconciling items to ensure a healthy balance sheet position is attained by the Company. Act as necessary on timely clearance of old balances (if any).
Ensure sufficient and timely payments are made to tax authorities covering WHT and CIT. Reduce or eliminate as possible penalties relating to non-compliance imposed by Tax Authorities.
Review and approve monthly payroll related reports and payments on a timely basis. Ensure local employee’s payroll is processed on time in line with employment contracts.
Management Accounting
Direct and supervise together with line manager the Group 5-Year Business and Annual Operating Plan and Budget and its revision with close co-ordinations with Finance Head Office.
Direct and supervise preparation of Annual Work Program & Budget (WP&B) and its narrative as per “Agreement” (PSA/PSC/EDPSA/C)) and lead the MCM.
Direct and supervise the preparation of variance report and cost control through detailed General Ledger and budget analysis to ensure cost correctly captured and reported to enable full cost recovery. Adverse trends identified; recommend measures to address issues (including non-conformities). As required informs management of recommended courses of action to mitigate losses and maximize profits, when significant events occur that can adversely affect the business long-term goals.
Work closely with all budget holders to ensure any variances explained, addressed and acted upon, and forecast numbers captured and reported. This include identify, execute, monitor and report the cost saving/optimization/reduction achievement to stakeholders and shareholder periodically. Coordinate with the operating departments in the field to resolve all matters that affect accounting and reporting.
Ensuring quality in forecasting and financial reporting issued to both shareholder and stakeholders.
Direct the overall Authorization for Expenditure (AFE) management including AFE closures. Supporting maximization of asset value through optimization of the company’s full value chain.
Provide guidance and insight on the correct categorization of costs to meet internal needs and local regulatory requirements.
Ensure timely capitalization of projects to Fixed Assets, disposal or transfer of assets are in line with Company policies and tax regulations.
Monitor material (inventory) management (receiving, physical verification and issuing) to ensure accounting is in line with the Company policies, PSA and other local regulatory requirements.
Ensure participation in annual inventory counts performed by the Warehouse team. Ensure relevant participation of stakeholders in line with the PSA and other regulatory requirements are met.
Lead and co-ordinate periodic fixed asset verification in line with the Company policies, PSA and other local regulatory requirements.
Control: Policy, procedure and risk mitigation, monitoring performance and compliance and addressing problems as they arise.
Monitor and follow up on changes and updates to Production Sharing Agreement, as well as taxation and local tax and labour regulations and make recommendations for changes to company policies, procedures and business practices to ensure continued compliance.
Maintain and keep up-to-date accounting policies, procedures and standing instructions.
Ensure the finance and accounting actions performed comply with local statutory requirements, internal control measures and are within the control framework (including compliance with relevant policies and procedures) and assist in establishing a controls compliance culture across the company.
Ensure compliance with all the region financial regulatory and reporting requirements.
Develop and implement position papers to ensure timely and proper close-out of audit recommendations and nonconformities.
Reporting: Prepare reports in support of finance and accounting.
Review and approve all monthly, quarterly & annual reports prepared by the Finance team as deemed necessary and ensure timely and accurate submission of these to relevant internal and external stakeholders.
Monitor and escalate if necessary issues identified from monthly, quarterly and annual reports prepared by the Finance team.
Review and approve any step out requests or memorandum for circulation within the organization relating to management accounting matters.
Prepare input to the Risks Register in relation to Finance related issues.
Approve any adhoc requests prepared by team members prior to publication to other departments or region
Liaison and coordination: Provide process and procedure guidance and insight to internal and external parties
Undertake any ad hoc responsibilities assigned by line manager.
Liaise with internal and external auditors on all Finance matters related to preparation and provision of audit packs, supporting documentation and analysis.
Liaise with internal teams (in all relevant locations) to ensure:
timely submissions and accurate budgeting and planning of funds required in line with activities planned, to monitor expenditure and progress of actual activities, to resolve issues relating planning and performance matters timely to avoid any escalation to Management;
to resolve issues relating to incorrect or incomplete documentation for processing Tax and Payroll related transactions;
to resolve issues relating to incorrect or incomplete documentation for processing Account Payable, Treasury and General Ledger related transactions especially where the team members are not able to progress on issues and reach an amicable solution timely to avoid any escalation to Management.
Liaise with local and foreign external parties as deemed relevant
E.g. state agencies to ensure issues relating to Finance matters are resolved timely to avoid any escalation to Management.
E.g. vendors, banks to resolve issues relating to incorrect or incomplete documentation for processing Accounts Payable, Treasury and General Ledger related transactions especially where the team members are not able to progress on issues and reach an amicable solution timely to avoid any escalation to Management.
Team Membership and Participation
Attend the team meetings and execute the roles and responsibilities.
Discuss the project work, technical decisions, and management approach.
Being open to new ideas and work together as a team.
Performs efficiently and in a well-organized manner.
Achieve results and meet the main objective of the team.
Support department staff in meeting needs for employee training, development and skill gap closure.
Coach employees in order to build their knowledge and skills.
Mentor staff to ensure appropriate succession management.
Motivate employees by encouraging, recognizing and rewarding superior performance.
Minimum Education Level Required
Bachelor’s degree in finance, accounting economics or business studies
Certificate: CIMA/ACCA/ICAEW/CPA
The minimum years of experience required
(All qualification listed Must be job related)
Minimum 10-15 years oil and gas industry (upstream) finance, tax and accounting experience, 5 years in a supervisor capacity, recognized professional accounting qualification.