Insurance & Tax Section Head

Job description / Role

To support Finance Manager in managing Insurance & tax exposure for operations and maintaining sound relationship with Insurance companies & Tax Authorities in accordance to company policies and procedures.

Insurance:
• Arrange optimal insurance policy for Asset.
• Ensure cost-effective coverage, terms and conditions across insurance policies.
• Manage Asset wide insurance matters including reviewing operations, identifying gaps, and recommending new coverages as & when needed.
• Coordination of all insurance and risk related requests from internal stakeholders, including Legal, Finance, Human Resources, Operations, Internal Audit and Head Office.
• Management of external partner relationships, including insurance brokers, third-party administrators and insurance companies.
• Reviews contracts and agreements for insurance provisions to ensure compliance with local law and best practices and identify risk management concerns.
• Manage Asset’s risk exposure and arrange periodical review / risk assessment to ensure they are consistent with best practices.
• Coordinate with Insurance broker on the settlement of insurance claims with insurers.
• Arranging training sessions through Insurance Broker to educate the Company’s staff about insurance and risk related matters.
• Arrange necessary approvals from within Asset and from external regulatory authorities for Insurance related activities, where applicable.

Taxation:
• Actively identifying tax risks and opportunities in existing or new business transactions.
• Reviewing all corporate tax filings.
• Lead all indirect tax activities including implementation and maintenance of indirect tax best practices with the assistance of internal staff and external resources.
• Manage internal and external resources to complete timely filing of all returns.
• Maintain tax calendars.
• Provide timely, comprehensive indirect tax advice, support & training for internal business units.
• Complying with the requirements of local tax laws.
• Liaison with Tax Consultants for all tax related issues.
• Ensure accurate and timely data preparation for all reporting obligations and submission of all relevant reports to tax authorities.
• Collaborate and coordinate with tax authorities and external tax advisors.
• Independently extracting and collating information from Financial systems for filing various returns under CGT.
• Independently ensuring that the taxes are paid, and returns are filed within the Statutory due dates.
• Keeping abreast of the recent developments in law and updating the team on amendments which will impact business.
• Act as the key point of contact and support for indirect compliance tax matters and input for specific projects.

Other tasks:
• Review quarterly cost recovery invoices and ensure completeness, accuracy and compliance with related contractual & legal requirements.
• Follow-up for quarterly cost recovery invoices from regulatory authorities.
• Support Audit team in local BOC cost recovery Audits.

Requirements

Minimum Qualifications:
• A master’s degree in Accounts/finance/management or CA/CPA qualification or equivalent.

Minimum Experience:
• 8 years of accounting experience in the Oil and Gas industry

Job-Specific Skills:
• Advanced financial analysis skills
• Knowledge and understanding of Asset and Group’s financial policies and regulations
• Knowledge and understanding of local regulatory policies
• Excellent communication skills
• Coaching and mentoring skills
• Good attention to detail
• Excellent analytical capabilities and problem-solving abilities

About the Company

United Energy Pakistan (UEP) is Pakistan’s leading foreign exploration and production company. UEP is a subsidiary of the United Energy Group (UEG), an international energy company. UEG is listed on the Hong Kong Stock Exchange and has operations in Pakistan, Iraq and Egypt.

UEP’s history dates back more than four decades, and the business has witnessed a change in ownership a number of times from UTP to ARCO and subsequently BP. In 2011, UEG acquired control of this asset from BP, ushering in a new era of growth for the company. Backed by UEG’s technical and financial support, UEP has emerged as the leading foreign producer and investor in Pakistan’s upstream oil and gas sector.

UEP’s parent company has also invested in the renewable energy sector. UEPW owns and operates a 99 MW wind energy project in the Jhimpir wind corridor of the Sindh province.