VP Finance

Job title: VP Finance

Company: OQ


Job description: StreamOTTCOFunctionOTTCO – FinanceLocationOman – MuscatBudget control*OPEX and/or CAPEX and/or Revenue amount as relevant*Reporting toManaging Director OTTCODirect Reports5Job purposeVP of Finance leads OTTCO’s Finance Control & Treasury Operations, holding ultimate accountability for all financial accounting, cash management, and governance & control. This role acts as the top financial authority within OTTCO, reporting directly to the Managing Director. Key responsibilities include:

• Strategically leading Financial Operations (Accounting, Financial, Projects Accounting, and Tax Services), ensuring a robust control structure.
• Directing Financial Accounting & Cash Management (working capital, investments, liquidity, funding, reporting, audits, and risk management).
• Establishing and maintaining Governance & Controls aligned with OQ Group objectives, adhering to accepted accounting practices.

This position operates in accordance with the OQ Group’s Mission, Vision, Values & Strategies, policies, guidelines, and international standards, leveraging IT technology, HSE standards, Omani government regulations, and best international practices.Main tasks and responsibilitiesFinancial Reporting & Strategy:

• Prepare OTTCO’s financial statements (P&L), managing OPEX, CAPEX, cash flows, EBITDA, and Net Profits for Managing Director approval.
• Participate with the Managing Director in developing OTTCO’s financial vision, strategy, and direction.
• Manage cash flow forecasts (5-year plan), including drawdown plans and debt/equity ratios.
• Consolidate OTTCO’s annual budget and working capital requirements.
• Work together with the OQ Corporate Governance to design and establish OTTCO Governance & Controls, in line with OQ holding company structure.

Financial Control, Accounting & Cash Management:

• Manage financial statements, audits, and reporting, ensuring IFRS compliance.
• Oversee cash flows, ensuring sufficient funds for all requirements.
• Develop and review hedging strategies to minimize currency exposure.
• Lead treasury operations (financial affairs, investments, liquidity, reporting, risk management, insurance, credit management).
• Provide consolidated cash pooling and treasury services.
• Evaluate and implement cash management systems.
• Manage and forecast daily cash requirements and execute financing decisions.
• Monitor and trade investment portfolios.
• Maintain credit rating agency relationships and manage credit extension.
• Lead enterprise risk management and insurance programs.
• Manage relationships with financial service providers.
• Evaluate and manage foreign exchange and interest rate risk.
• Manage OTTCO’s debt portfolio.

Financial Operations:

• Lead Accounting Services (accounts payable/receivable, fixed assets, bank reconciliation).
• Oversee Financial Accounting Operations (order to cash, treasury operations, accounts payable, GL operations).
• Manage Financial Risk Management and Tax Services (CIT, WHT, VAT, tax planning, risk control, transfer pricing).
• Lead Financial Services, aligning with OQ and international standards.
• Provide financial operational support to projects.
• Manage and develop the financial operations team

Projects & Studies

• Manage major financial projects (e.g., refinancing, acquisitions).
• Evaluate the financial impact of new business ventures

Governance & Control:

• Lead the end-to-end process for Governance and Internal Control.
• Coordinate the development and implementation of the Manual of Authorities.
• Embed robust corporate governance.
• Provide tax advice on cross-border transactions.
• Liaise with external auditors.
• Assess financial control effectiveness and recommend improvements.
• Stay abreast of regulatory changes.
• Work with auditors to demonstrate financial control effectiveness

Supervisory Responsibilities:

• Provide supervisory oversight of finance personnel (hiring, training, development, evaluation, discipline).
• Interpret, administer, and enforce work rules, policies, and procedures.
• Recommend and implement changes in staffing, procedures, budgets, and equipment.

Related Assignments:Perform other related duties or assignments as directed.Key interactionsInternal: OTTCO – Corporate FinanceExternal: Staffing specialized Contractors, Vendors & Suppliers, internal and external auditorsNotable Working Conditions. Office environment, intensive computer screen use, sporadic visits to operation site.Education requirementsMinimum qualification required is a bachelor’s degree along with any of the below which will be a plus.

• MBA or professional accounting qualification (like CA, ACCA or CIMA)
• Certificate in Treasury Fundamentals (CertTf), Certificate in Treasury (CertT), Diploma in Treasury Management (DipTM),
• Certificate in Cash Management / Cash Management Fundamentals

LanguageExcellent knowledge of written, read, and spoken English (required)Background and experienceCompetencies and skills

• 16+ years’ experience in similar role, in a large oil industry industrial organisation.
• Strong experience in preparing cash forecasts and cash flow analyses, financial Presenting and preparing proposals to recommend new products/services.
• Strong experience in Investment portfolio strategy, banking, and financial instruments.
• General knowledge of IFRS reporting requirements for investments and other financial instruments & Treasury software
• Experience with:

• Finance, Accounting services,
• Finance, people and technical improvements into business planning and delivery.
• International Finance, Taxation -(Corporate Income Taxes (CIT), Withholding Tax (WHT),

Soft:

• People’s management skills
• Analytical and Planning skills
• Empowering & developing high performing Teams
• Promotes Teamwork and an environment of Diversity & Inclusion
• Builds trust by meeting commitments & creating an environment of transparency and accountability
• Maintaining effective, accurate and transparent communication with all stakeholders & community
• Acts as an agent for change, constructively challenging the status quo
• Pursues innovation & continuous improvement
• Leads a solution-based approach to plan and deliver competitive results
• Transforms strategic insight into achieving business excellence

Technical

• Very good knowledge in using PC software.
• Treasury, Banking, Risk & Insurance,
• Financial Accounting Operations (order to cash, treasury operations, account payable, GL Operations)
• Financial Risk
• TAX Services
• Governance & Control.

Job Req ID: 56261Date: Feb 6, 2025Location:Muscat, OMEntity: Oman Tank Terminal CoBusiness Unit: OTTCODivision: FinanceCountry/Region: OM

Expected salary:

Location: Muscat

Job date: Thu, 13 Feb 2025 06:08:27 GMT

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