Finance Director

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Finance Director

  • Location:

    Cairo, Egypt

  • Contact:

    Salem Mubarak

  • Contact email:

    salem@paragon-ge.com

  • Job ref:

    204

  • Published:

    28 days ago

  • Expiry date:

    2024-04-17


Paragon GE is looking for a Finance Director for a position with an E&P company in Egypt.

This is a staff permanent role and will be office based in Cairo with visits to site.

Candidates must have a minimum 15 year’s oil and gas industry finance and accounting experience, 5 years in a supervisor capacity, recognized professional accounting qualification. Candidates must also have Joint Venture experience and ideally have experience working in Egypt or other MENA countries for an E&P company.

Position Title: Finance Director
Staff or Temp: Staff
Expected package: USD 24-28k net per month plus benefits
Location: Cairo, Egypt   

JOB DESCRIPTION
Developing and implementing commercial strategies according to company goals and objectives aiming to accelerate growth and ensure best value delivery. Conducting market research and analysis to create detailed business plans on commercial opportunities (expansion, business development etc.) Ensure all investments decisions are evaluated commercially.

Duties, Responsibilities and Performance Standards:

Providing sound commercial evaluation to support Management Decision making
  • Ensure all investment decisions in JV are evaluated commercially and covered by
  • Investment Memos in line with the VAP and the FAM.
  • Study all evaluations for identified opportunities by the technical team to allow screening and prioritization of high value opportunities
  • Deliver Reserves year end submission and help in identifying any Goodwill and Impairment trigger and act upon it according to International Reporting standards
  • Lead evaluations for Acquisitions & Divestment including developing commercial evaluations based on the operations needs
  • Build negotiations strategies for bid rounds and renewal of operational and concession
agreements with close coordination with the legal and technical department

Budget & Planning
  • Lead the annual and long term plan for JV to deliver the best value to the business.
  • Monthly performance manage the plan delivery and flag areas of variance.
  • Provide to the Leadership team recommendations for interventions when need arise to ensure remaining on track.
  • Secure relevant stakeholder approval to work program, budget and investments.

Cash Optimization
  • Support Leadership team to deliver competitive cash plan.
  • Annual negotiations with JV Partner to secure swap cargos against the crude entitlement.
  • Manage Inventory through continuous connectivity to Materials Management (PSCM) to identify disposal and redeployment opportunities.
  • Work with PSCM to characterize inventory holding (aged, excess, obsolete etc.) and progress opportunities to optimize stock balances.
  • Gross Margin Optimization; through regular review of commodity price formula and negotiating
updates to blend mix based on market & operational changes.

Management, Stakeholder Management, Supervision and Advisory:
  • Supervise the activities of the Finance, Commercial, tax, HR & Admin teams in the
  • Shareholder Office and the JV where applicable.
  • Effective management of formal internal and external meetings.
  • Keep close connections with key JV Partner senior management to ensure smooth flow of work.
  • Strong partner relationship with JV Partner including providing team with external interface
opportunities.
  • Develop Key Performance Indicators (KPIs), goals and objectives for the JV asset to
ensure delivery best value to the HQ.
  • Ensuring best working practice and process to ensure JV teams KPIs, goals and
objectives are met.
  • Determine appropriate staffing level to ensure that the JV asset is managed effectively
and efficiently in the Shareholder.
  • Coach employees in order to build their knowledge and skills.
  • Mentor staff to ensure appropriate succession plan.
  • Motivate employees by encouraging, recognizing and rewarding superior performance

Human Resources & Administration
  • Ensure the personal policies are implemented based on HQ guidance.
  • Manage the payroll process through selecting the appropriate outsourcing company and
ensure confidentiality and smooth process flow.
  • Maintain sound filling system for personal and external communications to support audit
trail to meet external and internal audit requirements.
  • Identify training opportunities for the teams and engage with HQ to implement the best
program for each team to ensure the correct competencies and skill set for each discipline.
  • Building Capability through; continuous coaching to Finance and technical colleague to
ensure that the company processes are adhered to; to ensure maximizing value to the shareholders.
  • Responsible for the shareholder office budget management.

Job Factors

Minimum Education Level Required: Bachelor’s degree in Accounting, Commerce and Finance
Certificate: ACCA/ICAEW/CIMA/CMA/CPA is a plus

The minimum years of experience required (All qualification listed Must be job related)
Minimum 15 years oil and gas industry finance and accounting experience, 5 years in a supervisor capacity, recognized professional accounting qualification.