Olubisi
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Finance Manager 18 000
Job Type: Full-Time

Education

From 0 to 1995
Obafemi Awolowo University
From 0 to 1998
Institute of Chartered Accountants of Nigeria
From 0 to 2013
Warwick University Business School
No added languages

Experience

Finance Manager
YF Petroleum Co. Ltd
October 2008 - Present Day (8 years 10 months)
  • Implemented SAP Business one for the business and ensuring a fully functioning ERP system within the organization
  • Resolved a 4-year tax audit issue and liaised with the tax authorities to obtain over 400% reduction in the various tax categories.
  • Preparation of Cash flows, Financials and other working documents required by financiers/banks in order to obtain approvals for funding of company activities
  • Working with the financial advisors to provide the necessary support required for loan notes and working capital funding
  • Monitoring the spending profile of partners to ensure liquidity within the consortium and ensuring that cash calls are made in line with the over or under call of each partner
  • Reconciliation of indebtedness between partners within the consortium and agreeing on the resulting accounts payable and receivable balances
  • Ensure that yearly budgets and work programs are agreed and implemented.
  • Review and monitor Management Accounts and challenge financial plans.
  • Offer Financial Support across the business/organization and provide solutions to problems whenever they arise
  • Ensure Business Performance is driven forward and provide financial/commercial support to non-financial members of management
  • Working closely with the Managing Director to ensure maximum benefit is derived from existing contractual and joint venture agreement.
  • Providing high quality financial management information to enable optimized commercial decisions along with clarity regarding business performance.
  • Provide financial support during reviews and frequent contacts with Government Regulatory bodies.
  • Preparation of company’s yearly Income Statement and Balance Sheet
  • Accounting for Joint Venture Activities in company’s books
  • Ensuring that the Project cost is monitored and agreed by all parties concerned, hence provide financial and management support towards Cost Oil Recovery and Project pay out in line with the existing agreements.
  • Ensure Monthly reconciliation of ledger balances in own books to the records from the Technical Partner
  • Managing Accounts Receivable balance with the Technical Partner and following up on outstanding payments
  • Ensuring compliance with GAAP – Generally Acceptable Accounting Policies and working on conversion to IFRS compliance
  • Preparation of the Company’s Financial Statement as required by law and the Nigerian Accounting Standard Board
  • Managing Accounts Payables/Receivables
Various Postions: Bonga Project Accountant, NOV Accountant, Asset Accountant, PSC Accountant
Shell Nigeria Exploration and Production Co. Ltd
October 2002 - September 2008 (6 years 1 month)
  • Venture Accounting: Liase with the Project Services Team to ensure efficiency, effectiveness, consistency and integration of all accounting support services provided by the Venture
  • Maintain appropriate Accounting records for the Bonga Venture ensuring compliance with PSC and JOA requirements.
  • Provide necessary support to all commercial reviews and audits and present required information for all Bonga Venture related activities.
  • Develop and maintain a Management report for tracking all cost savings on the Bonga Project.
  • Provide regular Management Information reports to the Venture Management for review and monitoring of Venture performance.
  • Provide Accounting input to the Monthly Project Management Reporting system for project management, partners and regulatory bodies, as appropriate covering inter alia, budget, credit management and cost recovery. Monitor and report Venture actual commitment and expenditure plans as part of monthly reports.
  • Maintain a transparent budgetary control system by providing budget commitment/control support to the project.
  • Analysis, control, processing and advise on payments of cash call
  • Follow-up on the cash position and borrowing of all Partners within the Joint Venture
  • Estimation of Operator’s future cash calls for cash forecast and planning
  • Monthly reconciliation of ledger balances in own books to the records from the operator
  • Work with Technical Team to obtain Shell’s approval for Operator’s yearly budget. Coordinate internal review sessions to critic the Budget numbers and request for additional supports before approvals are given.
  • Reconciliation of the monthly cash calls paid and ensure compliance with group records
  • Monitoring and advising on the Non-Operated loans and accrued interest and ensure its booked into the Group Ledger Accounts
  • Monthly Review and Booking of Operator’s billing statement
  • Analysis of the working capital variation generated from the Billing Statement
  • Design, develops & Implement the database of technical costs for performance measurement and also ensure its maintenance.
  • Perform and follow-up of Non-Operated Venture audits
  • Provide assistance in feeding of Operator’s budget and plan for corporate reporting in Shell.
  • Provide the Venture’s financial performance report (actual vs. Budget) to management.
  • Prepare in conjunction with asset team members the monthly Latest Estimate figures
  • Prepare and report monthly on the corporate KPIs(Key Performance Indicators)
  • Analysis and participation in Technical and Financial meetings/discussions e.g. TCM, FINCOM and OCM
  • Commercial reviews of JOA agreements. Participated in the drafting of the OPL 250 JOA, which involved in-depth deliberations and review sessions.
  • Ensure compliance with JOA and PSC requirements