Controller, Finance; Subsidiaries

Job Purpose

The Controller Finance (Subsidiaries) ensures the smooth functioning and strategic alignment of the financial operations of ADNOC Distribution Subsidiaries. This role encompasses comprehensive oversight of all business finance affairs, including financial accounting, budgeting, forecasting, analysis, and advisory. The Controller ensures that all financial activities within the assigned business area are executed accurately, timely, and in compliance with relevant standards and regulations.

This position is vital for aligning subsidiary business plans with the broader Finance strategy and ensuring seamless integration with interfacing departmental strategies. This position is key in ensuring smooth transition of acquisitions to support ADNOC expansion strategy.

• Ensure effective cascading of the Finance strategy into subsidiary business plans to maintain vertical alignment and horizontal integration with other departments.
• Provide input and support to senior management of the subsidiaries on strategic planning issues, addressing all business and financial matters to minimize potential issues.
• Develop and implement financial strategies that support the overall strategic goals of the subsidiaries and the parent organization.
• Monitor and report on financial performance, identifying areas for improvement and implementing corrective actions as necessary.
• Collaborate with cross functional teams to align financial strategies with operational objectives and improve organizational performance.

• Lead the month end and year end closing activities and ensure that all the accounts are reconciled by reviewing the accounts and coordinating with the relevant team members, to ensure the accounting activities are carried out timely, accurately and as per established standards.
• Lead, direct, and supervise the maintenance of books of account for the subsidiaries within the ERP System, ensuring accuracy and compliance with accounting standards.
• Supervise the preparation of statutory financial statements for subsidiaries, ensuring adherence to regulatory requirements and deadlines.
• Implement and maintain internal controls to safeguard the financial integrity of the subsidiaries.
• Integration of business finance functions in ERP to implement new initiatives.

• Engage with M&A team for investment projects and review the finance due diligence.
• Review the terms of the proposed Shareholders Agreement (SHA) and Share Purchase Agreement (SPA) and ensure appropriate accounting provision is followed as per these agreements.
• Manage the acquisition related complex accounting matters – control assessment, gap analysis of accounting policies and local accounting standards, pre-completion accounts finalisation, earn-out mechanism, contingent consideration etc.
• Manage work of external expert appointed for purchase price allocation including review of significant assumptions, inputs and valuation methodology used for various fair value measures and newly identified intangibles.
• Review all critical accounting position papers, develop consolidation framework for new acquisitions and facilitate smooth transitions.
• Lead discussion with statutory auditors on technical accounting matters.
• Develop models for goodwill impairment assessment and review inputs and assumptions used such as cash flow projections, discount rate etc.
• Manage complex accounting matters arising from dynamic economic conditions such as Hyperinflation.

• Lead the development and implementation of budgeting processes for the subsidiaries, ensuring alignment with overall business objectives.
• Monitor budget performance, identifying variances and implementing corrective actions as necessary.
• Lead the forecasting process, providing accurate and timely financial projections to support decision making.
• Collaborate with department heads to ensure realistic and achievable budget targets are set and met.
• Prepare detailed financial reports and analysis to support strategic planning and operational decisions.
• Manage the preparation and recommend the budget and monitor…