The position is responsible for assisting supervisor in controlling & reviewing the financial/commercial matters of Transmission Projects under existing and new agreements which includes assessment of project cost at feasibility stage, review of bid documents and EPC contracts and agreements, perform commercial analysis and negotiate offers in EPC Contracts in co-ordination with Project Procurement.
Further, compilation of annual budget & MYT Plan in line of business plans and subsequent monitoring with reference to contractors’ payments, CAPEX and REVEX spending including monthly closing/ settlement activities.
The objective of the position is to act and assist the supervisors in project controlling and manage project commercial risks in all activities in accordance contract terms, company policies, and applicable delegation of authority.
Member of Professional Accounting Body (ICAP/ACCA/ICMA etc.)
Regulatory and Management Reporting
Budgeting and Controlling
Accounting Standard and Basic Tax Rules
Understanding of Utility Business
MS Office Applications
SAP FI, MM, PS, PM Order and Open Text modules
2-3 years of experience
Area of Responsibility:
1. Budgeting and Controlling (35%)
-Review and compile the annual CAPEX and REVEX budget in coordination with User department with subsequent controlling and reporting.
-Prepare the budget report for management and Board approval.
-Asist in analyzing complex financial information for management decision support.
-Review the actual spending against targeted forecast and analyze the Gaps in coordination with user.
-Liaison with Contractors on Payment and shipment schedule in order to monthly revisit budgeted forecasts.
-Coordinate with Users each month regarding monthly closing activities and timely settlement of PM orders.
-Coordinate with Budgeting and Planning in order to respond the queries of Management, Board and investor.
-Preparation & Updating of MYT Model for CAPEX & REVEX for the Transmission Function.
2. Project Controlling and Business Partnering (30%)
-Assist in reviewing contract/agreements and benchmarking them with other related projects.
-Assist in preparing comparatives of critical commercial and financial points for discussion and negotiation with the vendors
-Assist in reviewing project feasibilities based on defined parameters.
-Verify and reviewing project invoices and ensuring compliance with contracts/ POs.
-Reviewing and controlling financial/ commercial activities of user departments.
-Assist in Ongoing monitoring and reviewing monthly progress of projects and attending meeting with users and vendors.
-Co-ordination and liaise with support departments to meet their expectations and for better controlling
-Assist in participating and effectively communicating commercial and financial points during project and other user department meetings and presentations.
-Assist in carrying out commercial closure of the Project along with relevant user department.
-Review and analyze contract terms & condition, BOQs and other schedule before contract signing with procurement and technical team.
-Monitor project commercial activities such as compliance of contract and its schedule during execution.
-Coordinate with project team for project activities reviews.
-Provide support to project team for the timely completion of project.
-Ensure the accuracy and effective time management while processing payments to contractors
3. Reporting and MIS (20%)
-Prepare monthly budget Revex & Capex variance Report for User department.
-Prepare monthly Finance Management Report & Quarterly report of IPPs progress
-Prepare monthly PM Order Settlement report for their outstanding issues and settlement. This report helps for identifying and timely closure of issues in coordination with user department
-Support the regulatory department in order to respond all query from NEPRA related to project. Make sure the effective and accurate communication with user department.
-Assist in preparing of various reports for Transmission Projects for onward reporting to NEPRA and other regulatory agencies.
-Prepare pre and post project evaluation and monitor status of major projects (timelines and budgets)
-Explore the opportunity for process improvement, reduction in repetitive tasks and encourage paperless environment.
-Ensure the accurate recording of project assets and expenses and timely capitalization.
4. Management (15%)
-Ensuring compliance with company’s policies, procedures and signature mandate for better controls specially over financial reporting.
-Coordination and liaison with project team to resolve discrepancies.
-Coordination and liaison with project team, payable team and Treasury for smooth processing of Transmission payments.
-Coordination with external and internal auditors.
-Assist and Suggesting to carrying out IT related automation projects to induce efficiency and effectiveness in processes.
-Assist in preparing and update SOPs and approval management, optimizing team performance by improving energy levels
-Team management and devising measures for continuous improvement of skills of team members related to business areas (where applicable)
-People management and motivation.