Senior Specialist M&A and Investment Accounting
Companies growth plans requires special activities in Controllership and involvement in particularly two areas:
a) Proforma Financial Statements for future investments and partnerships, proforma financials for other portfolio adjustments such as carve-outs and divestitures
b) Manage and review joint venture partnership agreements
The incumbent of this position will be the focal to ensure meaningful forward-looking financial statements based on business case projections of the investments. The generation of the proforma financials optimally uses established processes and technologies used for regular financial statements. The proforma financials will roll-up in plan financials of the Group to safeguard debt capacity and a robust agency rating.
Some of Companies growth investments are and will be embedded in partnerships. Company is already engaged with industry peers in numerous joint venture agreements in KSA an overseas. The current and future partnership agreements (will) contain substantial provisions relevant for the accounting treatment of the respective legal entities, such as Control Concept, embedded derivatives etc.
For KSA-based partnerships respective affiliates should be fully controlled according to Company group strategy and rationale. Contract terms should foresee procedures and concepts supporting and safeguarding reasonable governance and control by Company.
The incumbent of the position will ensure that existing and future partnership agreements meet Company Management and Controllership requirements and strategic objectives of the Company through respective analytics. Also, the incumbent will highlight potential adjustments to be negotiated with the partners to re-again or establish control or reduce P&L risks through the avoidance of embedded derivatives.
The incumbent will partner with the Companies negotiation team and Legal to ensure company's assets and interest and align with external auditors.
Key Responsibilities:
• JV's contract analysis, Mergers, Acquisitions, Divestitures & Integration accounting
• Provide expert know-how and governance regarding M&A, divestitures and integration accounting and also restructuring
• Research accounting literature and apply technical standards to complex business issues and transactions, including business combinations and impairment valuations
• Assess and analyze JV's contracts and propose accounting consequences including options to mitigate risks and assess control opportunities in existing contracts
• Ability to applies financial modeling tools to run valuation numbers to provide financial advice in a number of business and pro forma balance sheet
• Coordinate accounting integration of M&A transactions and provide advice, incl. conversion to Companies accounting standards, harmonization of chart of accounts, integration into Companies accounting processes and systems
• Carve-Out Financials Statements / Stand-alone Statements / Proforma Statements and prospectus support
• Coordinate accounting preparation of divestitures and provide advice, incl. preparation of carve-out financial statements
• Due diligence support, Purchase Price Allocations and principles of push down accounting
• Legal entity portfolio and master data design (central legal entity repository)
• Acting as a point of contact for external auditors on any technical accounting matters related to control assessment
• Preparing or reviewing with technical accounting papers related to control assessment
• Aligning with JV affairs on the technical accounting matters and preparation of Statutory Financial statements of the various SABIC subsidiaries and associates
• CoE for IFRS 3, IFRS 10, IFRS 11, IAS 27, IAS 36, IAS 37
Technical accounting and reporting
• The (Sr.) Specialist is responsible for providing expert technical accounting advice and guidance which includes implementing new changes, requirements and improvements.
The (Sr.) Specialist also provide advice on the potential implications of any regulatory changes. In addition, Technical Accountants lead all the technical accounting preparation for the team, advise the commercial teams and prepare accounting policies in line with accepted industry practices.
Annual Report and Accounts and quarterly
• For the annual and interim financial statements participate in preparing the policies section in SABIC's interest, advice on disclosure requirements and ensure compliance with latest IFRS requirements for presentation of investments, divestments and other portfolio changes
• Assess, prepare impact and implementation of new regulatory and reporting standards and amendments thereto
• Participate in the statutory reporting and group reporting templates to ensure they are up to date
• Improving the organization's documentation of policies and procedures to enhance the quality of financial reporting
• Prepare/review or coordinate the updated WACC for impairment testing and align with stakeholders (auditor, business and controllers)
Minimum Qualifications:
Skill/Key Functions:
• Expert knowledge on Mergers, Acquisitions, Divestitures & Integration (MADI)
• Business acumen, strong analytical skill, knowledge of chemical industry is a plus
• Expertise knowledge of standard accounting practices, solid knowledge in IFRS
• Proficient in corporate governance and internal control framework
• Financial modeling and proform pro forma balance sheet
• Team player
• Good sense of corporate risk management
• Advanced organisational skills and task management
Competencies:
• Strong communication and presentation skills, demonstrated success in providing training to finance community at the region/polar level, able to
build up network and exercise positive influence in the organization.
• Experienced in processes, governance frameworks, risk management and change management.
• Experienced in organizational integration project, able to understand and support organizational climate/culture.
• Experienced in participating in large-scale project, demonstrated successful project planning and execution skills.
BH3545
Bounty Hunter World
a) Proforma Financial Statements for future investments and partnerships, proforma financials for other portfolio adjustments such as carve-outs and divestitures
b) Manage and review joint venture partnership agreements
The incumbent of this position will be the focal to ensure meaningful forward-looking financial statements based on business case projections of the investments. The generation of the proforma financials optimally uses established processes and technologies used for regular financial statements. The proforma financials will roll-up in plan financials of the Group to safeguard debt capacity and a robust agency rating.
Some of Companies growth investments are and will be embedded in partnerships. Company is already engaged with industry peers in numerous joint venture agreements in KSA an overseas. The current and future partnership agreements (will) contain substantial provisions relevant for the accounting treatment of the respective legal entities, such as Control Concept, embedded derivatives etc.
For KSA-based partnerships respective affiliates should be fully controlled according to Company group strategy and rationale. Contract terms should foresee procedures and concepts supporting and safeguarding reasonable governance and control by Company.
The incumbent of the position will ensure that existing and future partnership agreements meet Company Management and Controllership requirements and strategic objectives of the Company through respective analytics. Also, the incumbent will highlight potential adjustments to be negotiated with the partners to re-again or establish control or reduce P&L risks through the avoidance of embedded derivatives.
The incumbent will partner with the Companies negotiation team and Legal to ensure company's assets and interest and align with external auditors.
Key Responsibilities:
• JV's contract analysis, Mergers, Acquisitions, Divestitures & Integration accounting
• Provide expert know-how and governance regarding M&A, divestitures and integration accounting and also restructuring
• Research accounting literature and apply technical standards to complex business issues and transactions, including business combinations and impairment valuations
• Assess and analyze JV's contracts and propose accounting consequences including options to mitigate risks and assess control opportunities in existing contracts
• Ability to applies financial modeling tools to run valuation numbers to provide financial advice in a number of business and pro forma balance sheet
• Coordinate accounting integration of M&A transactions and provide advice, incl. conversion to Companies accounting standards, harmonization of chart of accounts, integration into Companies accounting processes and systems
• Carve-Out Financials Statements / Stand-alone Statements / Proforma Statements and prospectus support
• Coordinate accounting preparation of divestitures and provide advice, incl. preparation of carve-out financial statements
• Due diligence support, Purchase Price Allocations and principles of push down accounting
• Legal entity portfolio and master data design (central legal entity repository)
• Acting as a point of contact for external auditors on any technical accounting matters related to control assessment
• Preparing or reviewing with technical accounting papers related to control assessment
• Aligning with JV affairs on the technical accounting matters and preparation of Statutory Financial statements of the various SABIC subsidiaries and associates
• CoE for IFRS 3, IFRS 10, IFRS 11, IAS 27, IAS 36, IAS 37
Technical accounting and reporting
• The (Sr.) Specialist is responsible for providing expert technical accounting advice and guidance which includes implementing new changes, requirements and improvements.
The (Sr.) Specialist also provide advice on the potential implications of any regulatory changes. In addition, Technical Accountants lead all the technical accounting preparation for the team, advise the commercial teams and prepare accounting policies in line with accepted industry practices.
Annual Report and Accounts and quarterly
• For the annual and interim financial statements participate in preparing the policies section in SABIC's interest, advice on disclosure requirements and ensure compliance with latest IFRS requirements for presentation of investments, divestments and other portfolio changes
• Assess, prepare impact and implementation of new regulatory and reporting standards and amendments thereto
• Participate in the statutory reporting and group reporting templates to ensure they are up to date
• Improving the organization's documentation of policies and procedures to enhance the quality of financial reporting
• Prepare/review or coordinate the updated WACC for impairment testing and align with stakeholders (auditor, business and controllers)
Minimum Qualifications:
- 10+ years of Big 4 experience as technical accounting and (financial) auditor
- Desirable completion of Master degree in accounting/auditing
- Professional qualification of CPA, CA, or ACCA
- Demonstratable IFRS expertise, certainly on technical standards (IFRS 9, IFRS, 10, IFRS 11, IAS 28, IAS 19, IAS 36, IFRS 16, IFRS 15)
- Post CPA qualification experience of 5+ years
- Technical training in Big 4 audit firms. Must have worked in audit, financial statements preparation/review, technical accounting advisory
Skill/Key Functions:
• Expert knowledge on Mergers, Acquisitions, Divestitures & Integration (MADI)
• Business acumen, strong analytical skill, knowledge of chemical industry is a plus
• Expertise knowledge of standard accounting practices, solid knowledge in IFRS
• Proficient in corporate governance and internal control framework
• Financial modeling and proform pro forma balance sheet
• Team player
• Good sense of corporate risk management
• Advanced organisational skills and task management
Competencies:
• Strong communication and presentation skills, demonstrated success in providing training to finance community at the region/polar level, able to
build up network and exercise positive influence in the organization.
• Experienced in processes, governance frameworks, risk management and change management.
• Experienced in organizational integration project, able to understand and support organizational climate/culture.
• Experienced in participating in large-scale project, demonstrated successful project planning and execution skills.
BH3545
Bounty Hunter World
JOB SUMMARY