1.0 CORPORATE REQUIREMENTS
JOB TITLE: Head of Corporate Finance
REPORTING TO: Group Financial Controller
LOCATION: Chiswick, London
Working with the Group Financial Controller to provide finance business partnering of the Corporate Profit Centre owners to improve the management of corporate cost and the accuracy of budgets and forecasts. In addition, the role will become the owner of all Corporate legal entities and ensure that the financial results of these entities are accurate and complete. This role is core to setting, maintaining and enforcing the intercompany trading and settling processes through ensuring that legal entities across the Group are properly established, transactional flows between Group entities are valid, allowable under Group funding rules and that these rules are properly communicated and complied with. The role will make sure entities and trading rules are properly defined and coded into the Oracle and HFM systems.
This role will:
· Become the financial business partner to the Corporate cost centres driving better cost management of corporate overheads and the accuracy of corporate budgets and forecasts.
· Take on the legal entity ownership of all Corporate entities and ensure the financial records are accurate.
· work with the various Group functions to define the intercompany trading framework, policies and procedures and the allowable financial interactions between legal entities within and between Seadrill Ltd, Seadrill Partners and Seamex.
· work with Group Tax and Group Legal to approve the creation of all new legal entities and establish that the proposed trading relationships comply with the intercompany policies and procedures, taxation regulatory rules and internal funding covenants.
· be responsible to build and then maintain the official database of legal entities and to reconcile with Oracle and HFM.
· Responsibility to maintain and publish the allowed legal entity intercompany trading flows as legal structures develop.
· To ensure intercompany trading adheres to the trading policies established and investigate balances that lie outside this agreed framework.
· Drive compliance with the intercompany framework, policies and procedures.
· Produce quarterly intercompany report for Group Financial Controller
· Co-ordinate intercompany invoicing and settlement process
· Maintain documentation of intercompany positions e.g. cash pooling agreement, long-term loans, intercompany dividends and equity contributions.
· Ensure that intercompany transactions are properly recorded and work with treasury and tax to make sure they are settled on a timely basis.
· Define the Oracle and Hyperion ledger structure required to support the agreed intercompany trading models.
· As per Corporate and Regional specific Delegation of Authority matrices
Degree qualified and a holder of a recognized accountancy qualification.
Up to 10 years of experience within Group reporting, accounting, Treasury accounting.
Experience within the Oil & Gas industry preferred, however not essential.
Due to the scope of the team, the need to interact with senior levels of management both in Corporate and in the regions is an essential part of this role and someone will be needed that has the necessary gravitas to make an impact. Experience of changing culture, systems and processes will also be desirable.
2.2 OTHER RESPONSIBILITIES
The skills basis of the candidate should include a number of the following:
· Group reporting and consolidation processes,
· Legal company structures and/or governance,
· process improvement and system implementation experience
· strong communication skills
· strong Excel skills
· analytical skills
· Industry business knowledge.