Company Info
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).
1). Manager, Joint Venture Audit
Location: Lagos
Job type: Full-time
Entity: Oando Energy Resources and subsidiaries
Unit/Department: Internal Audit
Directly Reports To: Head, Joint Venture Audit
Purpose
- The Manager, Joint Venture Audit is responsible for organizing and overseeing Joint Venture (JV) / Production Sharing Contract (PSC) audits in accordance with the annual audit plan and managing a team of auditors to.
- Deliver audit programs for Operated and Non operated Joint Ventures (JV) to ensure compliance with relevant JV/PSC contracts provisions, industry, and regulatory standards.
- Optimize value from investment in JV/PSC through evaluation of the charges and credits to the joint accounts and derived benefits to the joint operations.
- Oversee the review process then make any necessary recommendations to change policies, processes, and systems to add value to the organization.
- Supports the Head, Joint Venture Audit to provide high level reports to executive management and Operator management which includes improvements opportunities and best practice to enhance efficiency.
- The job incumbent has responsibility for coordinating the day-to-day activities of the JV Audit unit to achieve objectives consistent with the company’s corporate strategy and business goals and to provide independent, objective assurance and consulting services designed to add value and improve the organization / operator’s operations.
- The Manager, JV Audit ensures the audit activities are in accordance with Institute of Internal Auditors (IIA) Standards and Code of Ethics.
Supervisory Responsibility:
- Supervisor, Joint Venture Audit
- Audit Officer
- Outsourced auditors
Job Specification
Strategic:
- Evaluates and provides reasonable assurance that governance, risk management and control systems are functioning as intended and will enable the organization’s objectives and goals to be met.
- Assists the Head, JV Audit to develop the audit plan for operated and non-operated ventures, manage and coordinate all internal audit work and report findings to Operator, departmental heads, process owners and other relevant stakeholders.
- Possess working knowledge of every function within the organization and non-operated ventures, in terms of service area, business strategic direction, key deliverables and resources comprising financial, people and systems.
- Provide independent assurance on achievement of business objectives and adequacies of their information technology strategies, systems, and operations deployed for Joint Operations.
- Supports the Head JV Audit in preparing high level reports for executive management use with clear advice on improvement opportunities and best practice to enhance efficiency.
- Ensure that the audit unit develops and maintains a high standard of customer service and responsiveness in accordance with Oando’s core values (TRIPP). Also ensure that high standards of staff conduct, and integrity are maintained, and that appropriate development and training needs are identified and resolved.
- Ensures Oando is able to maintain the integrity of data and all business operations/ transactions activities, as the company grows, through development, implementation and continuous monitoring of the systems risk and internal control framework.
- Ensure compliance with the Institute of Internal Auditors’ standards, code of ethics and other relevant standards
Operational:
- Support the Head JV Audit in preparing the annual risk based internal audit plan for operated and non-operated ventures and
- Participate in the evaluation of inherent and emerging business risks impacting on strategic and operational objectives of the various ventures / contracts.
- Develop audit programs and lead preparation of audit reports.
- Track management / operator responses and perform follow-up procedures where needed.
- Supervise and review the work of the JV Audit staff including any loan staff retained from external professional services firms.
- Ensure all required documentation is completed, organized, and retained for each audit in accordance with the audit methodology.
- 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.
- Assist the Head JV Audit on internal investigations.
- Help develop and track departmental metrics and performance.
- Develop and deliver staff training and evaluations.
- Reviews systems and procedures deployed for various operated and non-operated business areas and recommend improvements to existing processes and procedures, where necessary.
- Support the Head JV Audit in preparing and making presentation to the Audit Committee of the Board of Directors, Executive Management and Operator management.
- Performs other activities as may be assigned by the Head, JV Audit from time to time.
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.
- The percent of staff time spent on planned audit activities.
- The average overall customer satisfaction score on post audit surveys.
- The percent of high-risk areas included in our audit coverage.
- Number of queries from the regulatory authorities and external audit reports
- Quality and timeliness of reports and updates
- Percentage of reported monetary findings granted.
Qualifications and Experience
- First Degree in Accounting, Finance, Economics, or other related area.
- 9-12 years combined post qualification experience in audit and risk management, 3 years of which must have been at Management level.
- ACA/ACCA
Core Competencies:
- Good knowledge of the Oil and Gas industry
- Excellent Information Systems Auditing skills
- Good functional and technical knowledge of the Oracle/SAP ERP
- Capable of performing risk assessments and identifying key business, technology, and financial risks
- Ability to develop, design, and execute financial and operational audit plans and programs
- Familiarity with auditing in an ERP environment; Oracle / SAP ERP experience is an added advantage.
- Experience in conducting financial audits of public and/or private companies
- Good project management and organization skills; ability to multitask
- Good problem identification and analytical skills
- Ability to develop and write meaningful reports and presentations.
- Excellent communication/ presentation skills
- Motivated self-starter who works well individually and in teams
- Proficiency in presentation, spreadsheet, word processing and TeamMate Audit Management System.
- Strong interpersonal skills—ability to work closely with people at all levels of the organization and facilitate the implementation of corrective action.
- Ability to speak persuasively and defend complex positions effectively.
- Work well in a dynamic environment, work independently, handle multiple projects simultaneously, meet deadlines and have excellent organizational skills.
Qualifications and Experience
- First Degree in Accounting, Finance, Economics, or other related area.
- 9-12 years combined post qualification experience in audit and risk management, 3 years of which must have been at Management level.
- ACA/ACCA
Application Closing Date
Not Specified.
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2). Joint Venture Audit Supervisor
Location: Lagos
Job type: Full-time
Entity: Oando Energy Resources and subsidiaries
Unit/Department: Internal Audit
Directly Reports to: Joint Venture Audit Manager
Indirectly Reports To: Head, Joint Venture Audit
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.
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.
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.
Deadline: Not Specified.
How to Apply: Interested and qualified candidates should use the links below to apply: