Senior Analyst, Budget & Cost Control (Site)

Job description / Role

Job Purpose

The jobholder is responsible for performing the cost controlling activities for the respective functions in line with Finance policies, procedures, and practices while ensuring adequate and efficient expenditure.

The jobholder is responsible for assisting in the preparation of the budgets by preparing the monthly financial reports and monitoring budget performance and exercising cost control to ensure meeting the approved budgets.

This role includes providing ad hoc financial analysis reports with forecasts to support management decision-making by preparing presentation materials (XLT, ELT, BAC & Board), monthly operations performance reporting (commercial production losses, flaring, quality, upsets, FC, VC, etc.), analyzing, developing, and preparing various financial reports, ensuring to provide correct, sufficient, and integrity information about the company, to ensure developing timely and relevant decision-making documentation.

Key Accountabilities

Budgeting & Cost Control

• Maintain budgetary control system through commitment control and monitor the actual expenditures versus the budget to ensure no overruns are incurred without management approval.
• Participate in the annual budget compilation for overhaul and normal capital and major revenue expenditure schemes.
• Coordinate monthly and quarterly budget revision and variance analysis and reporting and provide analyses on the financial impact of changes in the budgets to avoid overrun expenditure or under expenditure variances.
• Perform specific investigations into budget performance and/or deviations and assess the causes.
• Prepare the monthly financial statements such as P&L and balance sheet, compare these with the monthly budget, and prepare final accounts during year-end annual closing.
• Analyze current and past spending patterns and forecast revenue to make recommendations for budget appropriations.
• Liaise with external auditors during interim and final audits to ensure timely provision of analytical review to auditors as needed.
• Develop, interpret, and implement complex financial and accounting concepts or techniques for financial planning, analysis, and control.
• Evaluate complex profit plans, operating records, and financial statements.
• Participate in studies to evaluate the efficiency and effectiveness of projects and recommend changes where needed.

Financial Analysis & Reporting

• Prepare ad-hoc analysis to support management decision-making, e.g., in the form of profitability analysis and fixed costs analysis.
• Responsible for providing comprehensive reports about company performance by gathering input from different users on a monthly basis.
• Review the monthly reports and distribute internally.
• Prepare presentations and other financial materials as per management directions.
• Provide quarterly phasing of cost elements, work breakdown, phasing, and cash flow schedules to be incorporated into the budget, projected expenditure of carry-over schemes, and forecast of reallocation of maintenance costs and overhaul manpower.
• Analyze data and prepare financial variances report actual vs. budget/current month vs. last month reports.
• Proactively monitor and analyze monthly business/financial results and highlight issues to Reporting Controller. Propose proactive corrective actions.
• Use financial models on an ad hoc basis and build reporting solutions based on both existing and new requirements, prototypes, models, design, and implement new report formats, layouts, and delivery methods.
• Update ADNOC SAP-BPC with the information as required by ADNOC.
• Responsible for providing statistics as and when required, e.g., to provide export data to ADNOC and other ADNOC group companies.
• Clarify end-user queries on Delegation of Authority and update DOA as per management direction.
• Perform other similar or related duties as assigned by the manager.

Business Performance Support

• Support underlying process for preparation of Balanced Scorecard and ensure alignment of KPI cascading across the organizations.
• Liaise with the Business Planning team to receive and review Corporate and Functional Balanced Scorecard on a regular basis.
• Prepare presentations to be reviewed with XLT and seek their approval and endorsement.
• Regularly review and analyze performance indicators and propose proactive corrective actions.
• Continuous improvement in the Functional Balanced Scorecard review process.
• Perform tasks aimed at supporting the performance management process including those related to KPI cascading across Borouge.
• Update on a monthly basis ADNOC BI system and SAP Strategy Management System (SSM).
• Provide analysis to support management decision-making.
• Prepare financial reports.
• Prepare Balance Scorecards-Finance Functional BSC.

Qualifications, Experience, Knowledge & Skills

Minimum Qualification

• University degree in Business, Finance, or any related discipline.
• Fluency in English language; written and oral.

Minimum Experience & Knowledge & Skills

• Minimum of 5 years of relevant experience in planning, controlling, and financial analysis.
• Excellent in collecting and analyzing data as well as presenting information.
• Excellent in financial modeling.
• SAP knowledge.
• Very good presentation and communication skills.
• Expert knowledge of Excel, PowerPoint, and business warehouse.
• Concern for order and quality, teamwork & cooperation, achievement orientation, commercial/business awareness, and initiative to keep expertise up to date are required behaviors to be reflected in every activity performed.

Professional Certifications

Preferred to be certified in Financial Management, i.e., CFA, CPA, CMA, etc.

About the Company

We are one of the world's leading energy producers, and a primary catalyst for Abu Dhabi’s growth and diversification.

We operate across the entire hydrocarbon value chain, through a network of fully-integrated businesses, with interests that range from exploration, production, storage, refining and distribution, to the development of a wide-range of petrochemical products.

Since 1971, we have created thousands of jobs, driven the growth of a diverse knowledge-based economy, and played a key role in Abu Dhabi’s global emergence.

Today, we continue to look for new and innovative ways to maximize the value of our resources, pioneering those approaches and technologies that will ensure we are able to meet the demands of an ever-changing energy market, and continue to have a positive impact on the Abu Dhabi economy for generations to come.