Job Summary

• Financial Controller Upstream is responsible for the oversight and execution of all finance matters in MPRL E&P and its related subsidiaries, including providing financial support and general financial management of those companies

Primary responsibilities include:

• Supervision and development of all finance staff directly assigned to support those companies, with the join aims of ensuring high quality work in the short-term, and personal & career development of staff to increase capabilities & performance in the long-term
• Informing CFO and company senior management on a timely manner important financial matters for effective management decision-making and to avoid errors and lost opportunities
• Oversight and first-level review of internal and external financial reporting, including financial statements; management accounts; budgets and forecasts; tax filings; joint-venture partner / investor reporting; and internal reports to management such as financial performance updates, business plans / economic models, and scenario / sensitivity analysis
• Cash-flow planning and financing execution to ensure availability of funds for business continuity and planned investments
• Acting as primary senior contact point for company audits including government entities; joint venture; external audits; internal audits; and any other approved audit activity
• Maintaining strong systems of financial controls across companies and processes to protect the assets and reputation of the companies, their shareholders and personnel

JOB DESCRIPTION

• Finance leader for MPRL E&P and its subsidiaries: Act as the central key contact point supporting CFO for all financial matters relating to these companies, taking ownership for oversight, awareness, communication and proactive recommendation to management on all financial matters.
• Staff development: In all aspects of work use empowerment, coaching, mentoring and training to develop staff such that they are appropriately skilled for allocated tasks; continually learning and improving; with a balanced level of oversight to ensure a high degree of certainty as to accurate and effective completion of duties. Target continual growth in the proportion of work effectively completed by team rather than self.
• Deliver accurate financial accounting & reporting: compliant with applicable Laws, Rules & Regulations; PCC, PSC & IPR contracts with government entities and JOAs with Partners, including Monthly and Quarterly statements, Cash Calls, JIB transactions, Tax filing, Monthly Invoices to government entity for Incremental Production, Invoice processing, and Cost Tracking, either on a standalone company level or on a consolidated group basis.
• Maintain financial systems & documentation: ensuring financial information is consistent with Oil and Gas accounting practices, International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), Myanmar Financial Reporting Standards (MFRS) and Myanmar Accounting Standards (MAS).
• Tax compliance & efficiency: Ensure timely and accurate taxation returns and responses to IRD communications. Oversee tax accounting & forecasting. Actively participate in tax planning & structuring. Pursue tax exemption / relief where appropriate for Corporate Income Tax, Withholding Tax & Commercial Tax in compliance with applicable tax laws & regulations, locally and internationally.
• Prepare & execute Partner Audits: support execution of partner audits to ensure protection of the companies’ interests in Joint Venture / partnership activities.
• Lead & Manage External Audits: including external audits, partner audits, government entities audits and any other shareholder-approved audit activity.
• Deliver financial analysis & projections: oversee delivery of timely, relevant, accurate and complete information for decision-making such as economic modelling & business plans; funding & cash flow planning; budgeting & forecasting; financial performance analysis; and other financial modelling supported appropriately with sensitivity / scenario analysis, risk considerations and financial recommendations.
• Oversee treasury activities: Maintain & effectively control relevant bank accounts & bank relationships required for the companies’ operations and to meet contractual commitments, within the limits of authority issued by senior management.
• Maintain finance systems & records: Develop & implement policies, procedures and practices to ensure the appropriately controlled use and availability of finance systems, considering data retention and continued availability; confidentiality; internal controls & authorizations; and checks over completeness and accuracy of financial information.
• Maintain revenue records: maintain an invoice & revenue tracking system which ensures accurate and timely billing and payment of invoices (incoming and outgoing).
• Maintain cost records: Oversee accurate recording of cost allocation and cost tracking systems on a Project by Project and Well-by-Well basis. Deliver periodic management updates and highlight apparent errors; anomalies; and important trends.
• Maintain asset records: Coordinate with Procurement, Materials and Logistics and Warehouse to maintain a Material Tracking, Inventory Control, Fixed Assets Control, and Internal Control Systems to avoid unnecessary losses.
• Maintain effective profession financial relationships with relevant 3rd parties: Build and maintain appropriate relationships with 3rd parties such as external auditors; legal & tax advisors; government entities; JV partners’ financial personnel; lenders & bankers.
• Provide leadership on finance related matters to other Group of Companies: Review the monthly management accounts and ensuring compliance with international accounting standards such as IFRS and/or other relevant GAAP accounting standards.

Periodically, the employee may be expected to perform assigned duties and tasks not covered in this job description as well as to provide support to other departments when necessary.

Dimensions:

Overall responsibility of Finance & Accounting Functions

Key Interfaces:

• CFO
• DCM / technical management
• Upstream JV partners’ finance teams & committees
• Government entities
• External auditors

Key Performance Indicators:

• Effective financial leadership for MPRL E&P and subsidiary companies
• Effective team & individual development of finance personnel, including recruitment & induction of new staff
• Effective financial controls in particular cash management; process mapping; review & approval processes

Minimum required knowledge & experience

Education / Experience

• Bachelor of Commerce and CPA / Chartered Accountancy (ACCA is preferable)
• Minimum 8 (preferably 10-12) years’ experience in Finance/Accounting
• Practical experience implementing / working with Oil & Gas Accounting Principles, Procedures & Practices is preferable

Special Skills

• At least moderate technical knowledge of upstream oil & gas industry
• Analytical skills – forecasting, scenario analysis, financial modelling, financial review
• Strong technical skills in using financial software, MS Excel and MS Office
• Strong English language skills for communication (speaking, writing, reading)

Please note that applications received after deadline will automatically be discarded and only short listed candidates will be contacted.