Team Leader, Budget & Reporting

ADNOC Group; Abu Dhabi; On-site; AED 120,000 - 200,000; Full time

Job summary

A prominent oil and gas company is seeking a finance professional to oversee and optimize budgetary and cost management processes related to drilling operations. The role includes managing a team, collaborating with cross-functional teams, and ensuring financial targets are met. Candidates should have a strong background in financial analysis and at least 8 years of relevant experience. This position is located in Abu Dhabi with competitive compensation and benefits.

Qualifications

• 8 years of experience in financial analysis, budgeting, cost control, or related roles, preferably in oil and gas.
• Proficiency in financial modeling and advanced Excel functions.
• Strong understanding of drilling operations and cost structures.

Responsibilities

• Lead and manage a team to control drilling operation budgets.
• Collaborate with teams to establish accurate cost estimates.
• Analyze drilling cost data and recommend efficiency improvements.

Skills

Leadership

Financial analysis

Cost control

Analytical skills

Communication

Education

Bachelor's degree in Finance, Accounting, Business Administration, or related field

Tools

ERP software (SAP)

Advanced Excel

Job description

JOB PURPOSE:

Oversees and optimizes budgetary and cost management processes related to drilling operations. Ensures efficient allocation of resources and adherence to financial targets while maintaining high standards of safety and operational excellence.

KEY ACCOUNTABILITIES:

Job Specific Accountabilities

• Lead and manage a team of budget and cost analysts to develop, monitor, and control drilling operation budgets, expenditures, and forecasts.
• Collaborate with cross-functional teams to establish and maintain accurate cost estimates, budgets, and financial plans for drilling projects and activities.
• Analyze drilling cost data, identify cost drivers, and recommend cost-saving opportunities and efficiency improvements to enhance operational performance and profitability.
• Monitor drilling operation expenses, variances, and trends, ensuring alignment with approved budgets and financial targets.
• Develop and implement cost control measures, policies, and procedures to mitigate financial risks and optimize resource utilization across drilling operations.
• Coordinate with procurement, finance, and other departments to ensure timely and accurate processing of invoices, payments, and financial transactions related to drilling activities.
• Provide guidance and support to drilling personnel on budgetary and cost management matters, fostering a culture of accountability, transparency, and cost consciousness.
• Lead month-end closure activities, ensuring accurate and timely accounting of financial transactions.
• Generate and review revenue, CAPEX, OPEX accruals, and other necessary accounting treatments.
• Coordinate with accounting and finance teams to resolve discrepancies and validate financial reports.
• Gain thorough knowledge of client contracts to align financial and operational actions.
• Lead the billing and invoicing processes to ensure timely and accurate chargebacks to clients.
• Implement strategies to minimize Days Sales Outstanding (DSO) and enhance cash flow efficiency.
• Ensure compliance with all UAE, ADNOC, ADNOC Drilling, and client Asset Integrity Management codes of practice.

QUALIFICATIONS, EXPERIENCE, KNOWLEDGE & SKILLS:

Minimum Qualification

• Bachelor's degree in Finance, Accounting, Business Administration, or a related field.

Minimum Experience & Knowledge & Skills

• 8 years of experience in financial analysis, budgeting, cost control, or related roles, preferably in the oil and gas industry.
• Proficiency in financial modeling and data manipulation using enterprise resource planning (ERP) software like SAP, and advanced Excel functions, with the ability to integrate and analyze data across various FP&A platforms to support real-time financial forecasting, budgeting, and analysis.
• Strong understanding of drilling operations, cost structures, and financial principles.
• Proficiency in budgeting and cost management techniques, tools, and systems.
• Excellent analytical, problem-solving, and decision-making skills.
• Strong leadership, communication, and interpersonal skills.
• Ability to collaborate effectively with cross-functional teams and stakeholders.
• Familiarity with relevant industry regulations, accounting standards, and financial best practices.