Joint Venture Audit Manager at Oando

The Manager, Joint Venture Audit is responsible for organizing and overseeing Joint Venture (JV) / Production Sharing Contract (PSC) audits in accordance with the annual audit plan and managing a team of auditors to.

• Deliver audit programs for Operated and Non operated Joint Ventures (JV) to ensure compliance with relevant JV/PSC contracts provisions, industry, and regulatory standards.
• Optimize value from investment in JV/PSC through evaluation of the charges and credits to the joint accounts and derived benefits to the joint operations.
• Oversee the review process then make any necessary recommendations to change policies, processes, and systems to add value to the organization.
• Supports the Head, Joint Venture Audit to provide high level reports to executive management and Operator management which includes improvements opportunities and best practice to enhance efficiency.

The job incumbent has responsibility for coordinating the day-to-day activities of the JV Audit unit to achieve objectives consistent with the company’s corporate strategy and business goals and to provide independent, objective assurance and consulting services designed to add value and improve the organization / operator’s operations.

The Manager, JV Audit ensures the audit activities are in accordance with Institute of Internal Auditors (IIA) Standards and Code of Ethics.

Supervisory Responsibility (Indicate positions that report directly to this position

(Number of Direct / Indirect Reports / External Contacts)

• Supervisor, Joint Venture Audit
• Audit Officer
• Outsourced auditors

Qualifications and Experience

• 1st degree in Accounting, Finance, Economics, or other related area.
• 9-12 years combined post qualification experience in audit and risk management, 3 years of which must have been at Management level.
• ACA/ACCA

Job Specification

Strategic

• Evaluates and provides reasonable assurance that governance, risk management and control systems are functioning as intended and will enable the organization’s objectives and goals to be met.
• Assists the Head, JV Audit to develop the audit plan for operated and non-operated ventures, manage and coordinate all internal audit work and report findings to Operator, departmental heads, process owners and other relevant stakeholders.
• Possess working knowledge of every function within the organization and non-operated ventures, in terms of service area, business strategic direction, key deliverables and resources comprising financial, people and systems.
• Provide independent assurance on achievement of business objectives and adequacies of their information technology strategies, systems, and operations deployed for Joint Operations.
• Supports the Head JV Audit in preparing high level reports for executive management use with clear advice on improvement opportunities and best practice to enhance efficiency.
• Ensure that the audit unit develops and maintains a high standard of customer service and responsiveness in accordance with Oando’s core values (TRIPP). Also ensure that high standards of staff conduct, and integrity are maintained, and that appropriate development and training needs are identified and resolved.
• Ensures Oando is able to maintain the integrity of data and all business operations/ transactions activities, as the company grows, through development, implementation and continuous monitoring of the systems risk and internal control framework.
• Ensure compliance with the Institute of Internal Auditors’ standards, code of ethics and other relevant standards

Operational

• Support the Head JV Audit in preparing the annual risk based internal audit plan for operated and non-operated ventures and
• Participate in the evaluation of inherent and emerging business risks impacting on strategic and operational objectives of the various ventures / contracts.
• Develop audit programs and lead preparation of audit reports.
• Track management / operator responses and perform follow-up procedures where needed.
• Supervise and review the work of the JV Audit staff including any loan staff retained from external professional services firms.
• Ensure all required documentation is completed, organized, and retained for each audit in accordance with the audit methodology.
• Coordinate with other audit, risk management and/or compliance functions in the company, as well as the company’s external auditors, particularly with respect to audit planning and knowledge sharing.
• Assist the Head JV Audit on internal investigations.
• Help develop and track departmental metrics and performance.
• Develop and deliver staff training and evaluations.
• Reviews systems and procedures deployed for various operated and non-operated business areas and recommend improvements to existing processes and procedures, where necessary.
• Support the Head JV Audit in preparing and making presentation to the Audit Committee of the Board of Directors, Executive Management and Operator management.
• Performs other activities as may be assigned by the Head, JV Audit from time to time.

Core Competencies

• Good knowledge of the Oil and Gas industry
• Excellent Information Systems Auditing skills
• Good functional and technical knowledge of the Oracle/SAP ERP
• Capable of performing risk assessments and identifying key business, technology, and financial risks
• Ability to develop, design, and execute financial and operational audit plans and programs
• Familiarity with auditing in an ERP environment; Oracle / SAP ERP experience is an added advantage.
• Experience in conducting financial audits of public and/or private companies
• Good project management and organization skills; ability to multitask
• Good problem identification and analytical skills
• Ability to develop and write meaningful reports and presentations.
• Excellent communication/ presentation skills
• Motivated self-starter who works well individually and in teams
• Proficiency in presentation, spreadsheet, word processing and TeamMate Audit Management System.
• Strong interpersonal skills—ability to work closely with people at all levels of the organization and facilitate the implementation of corrective action.
• Ability to speak persuasively and defend complex positions effectively.
• Work well in a dynamic environment, work independently, handle multiple projects simultaneously, meet deadlines and have excellent organizational skills

Key Performance Indicators:

• The percent of the approved audit plan completed.
• Compliance with the Internal Audit methodology and IIA standards.
• The percent of audits completed within 110% of budget.
• The percent of staff time spent on planned audit activities.
• The average overall customer satisfaction score on post audit surveys.
• The percent of high-risk areas included in our audit coverage.
• Number of queries from the regulatory authorities and external audit reports
• Quality and timeliness of reports and updates
• Percentage of reported monetary findings granted.