Project Finance Controller at Westsons Limited

Our client, a reputable Oil, and gas upstream company is currently recruiting to fill the position below:

Business Type:       Upstream Oil & Gas

Department:            Finance and Accounts

Reports To 1:           Functionally – GM Finance & JV Management

Reports To 2:           Operationally - General Manager (Capital Projects & Engineering)

Job Purpose

The Project Finance Controller will provide financial, operational and analytical support in an environment of large and diverse complex projects.  This independent role is designed to support the deliverables of the Capital Projects & Engineering department especially by facilitating excellence in project delivery and enforcing policy adherence.

Also reporting into the Finance Department, the incumbent will ensure value for money decisions across projects and serve as a point of escalation for project finance issues impacting assigned portfolio performance.

Key Roles and Responsibilities

1. Operational

• Establish and lead the project control function supporting multiple actions across the portfolio of projects.
• Implement the company’s policies for best practices for project control, including:
  • Project budgets (including equivalent annual analysis),
  • Forecast to completion,
  • Burn rate analysis, and
  • Risk assessment.
• Serve as the subject matter expert with a higher level of authority for project controls from a financial and project execution perspective.
• Collaborate with procurement team to ensure policies are being adhered to and that standard levels of performance are being achieved with regards to efficiency to complete such activities.
• To support the financial and contractual functions in the projects, the individual will work alongside senior project and engineering managers.

1. Financial

• Champions and ensures compliance to standardised best practices for project finance.
• Analyses and assesses trends that may impact the execution of the project along with the key drivers that may affect the financial health of the projects
• Initiates and manages project audit activities, if required.
• Develops and implements effective financial strategies, controls framework and management systems to guide and support the ongoing projects.
• Ensures that projects are delivered within budget, after all required approvals have been obtained.
• Provide periodic project financial performance reports for management decision making.
• Responsible for ensuring project spend comply with Joint Venture guidelines for full cost recovery.

1. Risk Related

• Conducts financial risk analysis considering contract type, subcontracts/materials, resourcing, and other measures.
• Provides reporting and analysis on a variety of financial and operational issues related to the financial health and execution of the projects.
• Ensure portfolio cost control and risk assessment with responsibilities for both internal and potentially external reporting.
• Create risk management framework specific to the company based on existing portfolio.
• Reports financial risks to senior executives of the company.

Preferred Skills / Prerequisites

• Project control and project finance skills.
• Must have a good understanding of the project drivers, milestones and performance impacts.
• Strong financial presentation and management skills.
• Ability to prioritize, delegate and follow through tasks with or without a team.
• Self-directed with proven ability to research complex issues, work independently, challenge staff and multi-task several projects efficiently.
• Strong interpersonal skills, capable of developing and sustaining effective peer, project, and organisation relationships.
• Strong communication skills to collaborate with other department/functional support areas.
• Proficient at supporting and balancing the financial needs of multiple contracts at once.
• Experienced at managing people and direct responsibility for objective setting, performance reviews and disciplinary actions.

Minimum Qualifications

• Bachelor’s degree in finance, accounting or any finance-related field.
• A Master’s degree preferably in finance will be an added advantage.
• Professional accreditation (ACA, ACCA or similar).
• Project management certification or higher.

Work Experience

• Minimum of 15 years post-graduation experience with at least 8 years at senior finance level preferably starting career with audit practice.
• Upstream Oil and Gas project Controllership experience is necessary.
• Knowledge of accounting standards.
• Good Management Accounting and reporting experience is essential.