Joint Venture Audit Supervisor at Oando Plc

Oando Plc is one of Africa’s largest integrated energy solutions provider with a proud heritage. It has a primary listing on the Nigeria Stock Exchange and a secondary listing on the Johannesburg Stock Exchange. With shared values of Teamwork, Respect, Integrity, Passion and Professionalism (TRIPP).

We are recruiting to fill the position below:

Job Title: Joint Venture Audit Supervisor

Location: Lagos, Nigeria
Job Type: Full time

Purpose

• The Joint Venture Audit Supervisor’s primary responsibility is to plan, organize and coordinate the implementation of joint venture audit plans across the upstream assets of OER group as it relates to compliance with the stipulations of the respective joint operating agreements (JOA) for the various upstream assets, billings and cash call management and governance structure of the joint ventures.
• The role requires strong analytical, leadership and communication skills. Being able to review, understand and identify risk in Joint Operating Agreements (JOA), Production Sharing Contracts (PSC), Production Handling Agreements (PHA), Gathering Agreements, and Purchases & Sale Agreements (PSA)
• The Joint Venture Audit Supervisor also participates in Production Sharing Contract audits, fraud detection and investigations as may be required from time to time.

Supervisory Responsibility:

• Audit Officers
• Outsourced Auditors

Job Specification
Strategic:

• Coordination of audit planning and auditing for the non-operated JVs as assigned; liaise with JV management team to extract to frame scope of JV audit engagement; thorough analysis of costs and review of audit history to identify potential audit candidates, preparation of audit reports to be submitted to the Operators, response to initial response from the Operator, and tracking/report of audit status through to audit closure.
• Reviews expenses and revenues for errors or deviations from agreement terms and document audit claims
• Write audit reports or rebuttals to Operators responses where necessary with relevant support by provisions of accounting procedure, operating agreement, or other appropriate industry guidelines
• Execute audit programs to provide independent assurance on achievement of annual work program and budget and adequacies of their systems and controls and advise on improvements for both compliance with joint operating agreement and best practice to generate efficiency.
• Maintain a high standard of customer service and responsiveness in accordance with Oando’s core values (TRIPP). Maintain high standards of staff conduct and integrity, and participate in the development and implementation of training needs for subordinates.

Operational:

• Support the Manager, Joint Venture Audit in preparing the annual risk assessment and internal audit plan.
• Participate in the development of audit programs, coordinate the implementation of audit work programs and preparation of audit reports.
• Ensure efficient and effective execution of annual audit plan.
• Assist in tracking of audit recoveries, audit recommendation implementation and perform follow-up procedures where needed.
• Supervise and review the work of subordinates and other auditors, including loan staff retained from external professional services firms.
• Maintain required audit documentation for each audit in accordance with the Oando Internal Audit Methodology and IIA standards.
• Coordinate with other audit, risk management and/or compliance functions in the company, as well as the company’s external auditors, particularly with respect to audit planning and knowledge sharing.
• Perform assigned tasks efficiently and ensure departmental metrics and performance indicators are achieved.
• Provide on-the-job training and development to subordinates and loaned staff.
• Performs other activities as may be assigned by the Joint Venture Audit Manager from time to time.
• Monitor compliance with the laid down policies, processes, and procedures.
• Review the JV annual accounts and the procedures underlying the preparation of the annual returns for partners.

Qualifications & Experience

• First Degree in Accounting, Finance, Economics, or other related area.
• 5 - 7 years combined post qualification experience in audit and risk management with at least four years audit experience in review of business processes, risks, controls, and financial statements.
• ACA/ACCA qualification (or equivalent) will be added advantage.

Knowledge & Skills Required:

• Knowledge of the oil and gas industry.
• Knowledge of financial reporting and financial reporting standards.
• Project management.
• High level of self-motivation, determination, and confidence in own abilities.
• Ability to juggle multiple tasks and divide your time between work and study.
• Meticulous attention to detail.
• Numeracy and a strong aptitude for mathematics.
• Excellent problem-solving skills and clear logical thinking.
• A keen interest in the financial system combined with excellent commercial awareness.
• Ability to work to deadlines, under pressure, and the willingness to put in the extra hours when needed.
• Ability to work on your own initiative and as part of a team.
• Proficient in the use of Microsoft Office applications (Word, Excel. PowerPoint).
• Excellent interpersonal and communication skills, including good presentation and report writing skills.
• Passion for delivering an exceptional client service.
• Good analytical and organizational abilities.
• Proven track record of establishing and maintaining strong relationships with clients.

Key Performance Indicators:

• The percent of the approved audit plan completed.
• Compliance with the Internal Audit methodology and IIA standards.
• The percent of audits completed within 110% of budget.
• Quality and timeliness of reports and updates.
• Quality of audit documentation and work papers.

Application Closing Date
26th February, 2024.