JOB DESCRIPTION / ROLE
Job Summary and Purpose
Lead the continuous improvement initiatives to drive efficiency in financial processes by providing accurate & timely financial reports, analyzing annual budget while ensuring compliance with rules and regulations at entity and consolidated level. Lead project financial analysis for cost optimization, business development opportunities, organizational structuring and other Nakilat defined corporate initiatives.
Key Accountabilities:
Financial Reporting
1. Lead the quarterly, half-yearly and annual consolidated financial statements within required timeline.
2. Ensure financial statements are prepared in compliance with IFRS & US GAAP.
3. Present entity level performance on CFO’s quarterly review meeting.
4. Prepare quarterly Management & Board report with variance analysis and commentary.
5. Coordinate with external auditors for annual statutory audit, half-yearly review, and interim audit to ensure that all audit queries are adequately addressed and resolved in a timely manner.
6. Provide monthly OPEX cost report for Fleet Dept. to comment on variances, in collaboration with FP&R team, as needed.
Planning
7. Lead annual budget activity by seeking relevant information and explanations from budget owners.
8. Prepare entity level annual budget with analysis & explanations.
9. Prepare financial slides for JV Board meeting and present the annual budget to the JV Board.
10. Provide current year forecast for Management review on a quarterly basis.
11. Provide medium term forecast with sensitive analysis for Management to understand Company’s medium-term outlook
12. View the budgets and forecasts from an organizational vantage point to analyze cost drivers and offer recommendations.
13. Present detailed analysis of G&A, manpower costs and capex for annual planning and quarterly MIS reviews.
14. Coordinate with organizational departments to prepare and analyze cost allocations (service fees, management fees, cost distribution etc.).
Due Diligence and Projects
15. Lead Nakilat growth projects (asset acquisition, long term projections, joint venture initiatives etc.) on behalf of the Finance department by providing insights on risk, reporting, cashflow etc.
16. Lead the preparation of financial reports for commercial opportunities, contract renewals, refinancing, lease renewals etc. by clearly providing potential impacts on Nakilat’s financial position (pro forma financial statements) and giving relevant recommendations.
17. Act as finance expert on internal project and structure costing exercises.
18. Obtain input from all Nakilat functions to deliver vessel management fee charges on an annual basis.
19. Submit Nakilat’s segment structure and model for senior management review.
Internal Controls
20. Co-ordinate with External Auditor to ensure internal controls are in alignment with RCM, ICOFR testing and remediation actions.
21. Ensure following existing control policies.
Investor Relations
22. Support Investor Relations team on Nakilat’s Board meetings AGM / EGM and related communications with regulatory authorities.
23. Ensure accurate and timely submission of required reports / information to various regulatory authorities (QFMA, QSE, Statistics Dept. etc.).
Requirements:
• Bachelor’s degree in Finance, Accounting or any related field• Specialized certificates are preferred, qualified or partly qualified e.g. ACCA, CA, CPA, CMA.
Experience:
• 6 – 10 years of related experience in a similar position with reputable MNC, preferably in a similar industry or Oil and Gas.
Job Specific Skills:
• Advanced knowledge of accounting and financial principles and tools. (International Financial Reporting Standards), cost accounting and management reporting.
• Knowledge of financial concepts and statistical/analytical methods and ability to use data effectively to develop, implement and manage operational plans and actions.
• Advanced experience in using SAP or similar ERP system.
• Experience working with organizational costing/allocation models to properly analyze the main driving factors of change and variances year over year.
ABOUT THE COMPANY
Established in 2004, Nakilat is a shipping and maritime company based in the State of Qatar. With one of the world's largest Liquefied Natural Gas (LNG) shipping fleet comprising of 69 LNG carriers, the company provides the essential transportation link in Qatar's LNG supply chain. Through its wholly-owned subsidiary Nakilat Shipping Qatar Limited (NSQL), the company manages and operates one floating storage regasification unit (FSRU), four very large LPG carriers (VLGCs) and 24 LNG carriers.
In addition to its core shipping activities, Nakilat operates the Erhama Bin Jaber Al Jalahma Shipyard in Ras Laffan Industrial City, providing comprehensive ship repair and offshore fabrication services via strategic joint ventures: Qatar Shipyard Technology Solutions and Qatar Fabrication Company (QFAB). It also provides shipping agency services through Nakilat Agency Company (NAC) at all Qatari Ports and terminals, as well as towage and other marine support services through its joint venture Nakilat SvitzerWijsmuller (NSW). The company's Vessel Support Unit (VSU) offers chandlery, storage, logistics services for vessels operating in Qatari waters.
