Finance Manager (Upstream) at 21Search Limited

21Search Limited - Our client is recruiting to fill the position below:

Job Title: Finance Manager (Upstream)

Location: Victoria Island, Lagos
Employment Type: Full-time

Job Overview

• The Our client is seeking a Finance/Accounts Manager will be responsible for overseeing financial operations, ensuring accurate accounting, financial planning, and budgeting.
• This role involves maintaining compliance with financial regulations, ensuring efficient cash flow management, managing accounts payable/receivable, and contributing to the company’s financial strategy. The manager will also support business growth by providing financial insights and ensuring the financial health of projects.

Responsibilities
Financial Planning & Budgeting:

• Lead the annual budgeting process, including the preparation, consolidation, and review of financial projections for the company’s upstream projects.
• Track and report budget variances, providing recommendations for corrective actions where necessary.

Financial Reporting:

• Oversee the preparation of accurate and timely monthly, quarterly, and annual financial statements in compliance with IFRS and relevant local laws.
• Prepare financial reports on project performance, cash flow, and capital expenditure (CapEx) analysis for management and stakeholders.

Accounts Management:

• Supervise accounts payable and receivable, ensuring the timely processing of invoices and payments.
• Manage account reconciliations, balance sheets, and ledger maintenance to ensure the accuracy of the company’s financial records.

Cash Flow Management:

• Monitor and manage the company’s cash flow to ensure adequate liquidity for ongoing projects and operational expenses.
• Provide cash flow forecasting and manage working capital requirements, including debt recovery and vendor payments.

Cost Control & Expense Management:

• Implement cost control measures and financial strategies to reduce operational costs while maintaining quality and efficiency in project delivery.
• Review and control departmental expenses, ensuring adherence to budgets and identification of cost-saving opportunities.

Audit & Compliance:

• Ensure the company’s financial practices comply with internal policies, Nigerian regulations (e.g., FIRS, NNPC), and international financial standards.
• Lead audit preparations (internal and external), resolve audit findings, and ensure effective audit trails for all financial transactions.

Tax Management:

• Oversee the company’s tax filings and ensure compliance with local tax laws, including corporate tax, VAT, and other regulatory requirements.
• Work with external consultants and tax authorities to manage and resolve tax-related issues.

Risk Management:

• Identify and mitigate financial risks associated with foreign exchange volatility, credit exposure, and regulatory changes.
• Implement and maintain strong internal controls to prevent financial fraud, misreporting, and errors.

Capital Management:

• Oversee capital expenditure planning and approval to ensure optimal use of financial resources in projects.
• Manage relationships with banks and financial institutions for project financing, loans, and other capital needs.

Team Management:

• Lead and mentor the finance and accounting team, ensuring their professional development and alignment with company goals.
• Provide training and support to the finance team on best accounting practices, software, and regulatory updates.

Key Qualifications & Skills
Educational Background:

• Bachelor’s Degree in Finance, Accounting, or related field
• Professional certification such as ICAN, ACCA, or CFA is an addition.

Experience:

• Minimum of 7 years of experience in finance or accounting, with at least 3 years in a managerial role.
• Strong experience in the upstream oil and gas sector, preferably within an EPICM environment.

Technical Skills:

• Strong knowledge of IFRS, local tax regulations, and oil and gas accounting principles.
• Proficiency in financial software (e.g., SAP) and advanced Excel skills for financial modeling and analysis.
• Excellent understanding of cost control, cash flow management, and financial reporting in the oil and gas sector.

Soft Skills:

• Strong analytical and problem-solving skills.
• Excellent communication and interpersonal skills, with the ability to present financial data to both technical and non-technical stakeholders.
• Leadership and team management abilities

Application Closing Date
3rd February, 2025.