Budget & Advisory Division Head

Job description / Role

Managerial Responsibilities
• Provide direction and lead direct reports in performing their roles and responsibilities.
• Conduct performance appraisal reviews for direct reports, identify and ensure they acquire the required managerial or functional competencies and knowledge.
• Review all periodic financial performance reports to ensure the effective implementation for YASREF’s strategies and identify improvement opportunities and propose/implement improvement actions.
• Execute Department/ Division strategy and operational plans and manage the Division’s annual budget, to meet set objectives and performance targets.
• Ensure that the performance of various responsibilities and the conduct of the staff in the Division are in accordance with the YASREF’s policies and procedures.
• Ensure the availability of required resources to carry out all the responsibilities related to the Division.
• Functional Responsibilities:
• Analyses financial information and conduct ratio analysis prepares consolidated reports and conduct trends analysis & prepares forecast based on internal & external financial data. Reports financial performance and analysis with recommendations to management.
• Ensures the annual budgeting and monthly forecasting process; develop operating models to ensure compliance with company’s financial goals.
• Monitors Operating /Capital Expenditure and highlights major financial and operational variances against budget or KPIs. Prepares quarterly reports providing reasons for the major differences between actual and budgeted figures.
• Perform complex analytical assignments and prepares accounting related reports with related annual budgeting inputs.
• Provide expertise on processes or issues to the assigned team and work stream.
• Controls budget phasing break-down into monthly operating budget and controls the actual day to day spending.
• Directs and provides professional recommendation in cost reduction and recommends probability analysis for improving the profitability.
• Review operating budgets to analyze trends affecting budget needs. Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations.
• Construct, studies and consolidates financial models in order to prepare company’s strategic plans, and investigates different strategic options.
• Identifies, assesses and communicates issues affecting financial profitability
• Uses spreadsheet and statistical software packages to analyze financial data, spot trends, and develop forecasts.
• Analyze and interpret reports for managers providing recommendations to guide business decisions.
• Maintain records on all analytical data.
• Perform all work procedures in compliance with relevant safety, health and environmental procedures to ensure a healthy and safe work environment

Requirements

Experience
• 8 Years of Experience

Education
• Bachelor’s Degree in Accounting, Finance, or equivalent.

Skills
• Budget Analysis
• Accounting Processes and Principles
• Performance Measurement
• Financial Analysis / Data Management
• Financial Information Systems.

About the Company

Yanbu Aramco Sinopec Refining Company Ltd., a joint venture between Saudi Aramco and China Petrochemical Corporation ( Sinopec). A world-class, full-conversion refinery that covers about 5.2 million square meters in the Yanbu Industrial City, and is considered to be a key anchor project for the future of Yanbu. YASREF will use 400,000 barrels per day (bpd) of Arabian heavy crude oil to produce premium transportation fuels, as well as high-value refined products for both international and domestic markets. It is scheduled to be operational in Q3 2014.

YASREF signifies the impressive downstream portfolio added to Saudi Aramco, yet building and cementing on the strategic partnership with Sinopec - Saudi Aramco's largest crude oil partner and buyer - Both companies bring commercial and technical expertise to the joint venture to enhance trade of transportation fuels between a significant energy producer and its consumer. In addition, YASREF represents a continuing step forward in the strategies of Saudi Aramco and Sinopec to drive growth further downstream to capture additional value along the hydrocarbon chain.

YASREF was registered in January 2012 with the single purpose to establish, operate, and manage a full conversion-refining complex. YASREF possesses the location advantage to effectively and efficiently supply both international and domestic markets. The products include 90,000 bpd of gasoline, 263,000 bpd of ultra-low sulfur diesel, 6,200 metric tons per day (mtd) of petcoke, 1,200 (mtd) of sulfur, and 140,000 tons per year of benzene. YASREF will process Arabian Heavy crude oil into high-quality refined products that could include future production of Paraxylene and products to support downstream industries.