CV, Financial Controller, Finance Manager With 34 years’ Experience

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Serial No: 18629

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Skills keywords: contract management, cost & budget, oracle maximo

Short Bio:

Financial Controller /Finance Manager with 34 years’ experience in large multinational organizations out of which 20 years in Oil & Gas under drilling domain. Excellent finance management skills, coupled with a strategic outlook and proven leadership ability. At present practicing as a consultant( Cost & Management Accountant) under the license of institute of Cost Accountants of India. Seeking to continue career at Senior level in finance within a multinational organisation.

Current location:  Kolkata, India - View on map

Nationality: Indian

Preferred Sector of Employment:  accounting and finance, Oil, Gas and Energy, General Management

Spoken languages: Arabic, Bengali, english, Hindi

Location I am interested in working: Anywhere

Qualifications

Honors Degree: B.S. in Advanced Accountancy with majors in cost accountancy, auditing & taxation.

Professional qualification: Post graduate qualification in cost & management accountancy under the institute of cost accountants’ of India. (ACMA)

Career Summary

Financial Controller /Finance Manager with 34 years’ experience in large multinational organizations out of which 20 years in Oil & Gas under drilling domain. Excellent finance management skills, coupled with a strategic outlook and proven leadership ability. At present practicing as a consultant( Cost & Management Accountant) under the license of institute of Cost Accountants of India.

A national Oil and Gas Exploration Company.) ( Kuwait Oil Company).

Latest post: Senior Controller (Drilling Cost & Administration) in Technical Support Group.
Duration: Dec 2009 to 4th June, 2013.Reported to Group Manager(Technical Support). 17 employees including Controllers, Technical Assistants would report to me.

Controller .(July1993 to Nov. 2009) in Drilling Operations Group.

PLANNING AND FORECASTING:-

Preparation of Budget Proposals of Drilling and workover wells, manpower planning of the Group as per Rig deployment schedule to accord appropriate approval from KPC

PREPARATION OF BUDGETS & BASICS OF COST CONTROL FOR DRILLING & WORKOVER WELLS:-

Estimates of different phases of works in Drilling (Development .exploratory wells, injections, disposal & Workover wells) in association with Design/ Operation Drilling engineers; preparation of estimates for different category of wells under normal conditions as a bench mark target.

Preparation of AFE for Drilling Wells(CAPEX) and OPEX for Workover wells.

In association with Drilling & workover Engg. Team (Operations & design), establish job specific accounting string (code of accounts) in accordance with project WBS, forming the basis of proper cost control & reporting.

PERFORMANCE MEASUREMENT & VARIANCE ANALYSIS

Monitor cost allocation into CAPEX & OPEX. Review cost/variance analysis & suggest corrective actions or does revision of AFEs. Interfacing of cost and finance data in oracle.

Use of different cost control tools like report and control of non productive/ idle time(NPT)/ , minimize cost of waiting (stand-by) of man & materials in sequence of drilling, cement calculation sheet, control of rig repairs hours, drilling cost index, drilling cost per hour, prevention of junk, lost in hole and fishing, control of drill muds etc.

Member of EVM (Earned Value Management) Team. Providing feed back towards BCWP (Earned Value), ACWP, BCWS and BAC.

Prepare project bi-weekly & monthly cost reports to include all budget management, cost & commitments, trend, progress & change over status.

FINANCIAL MANAGEMENT OF DRILLING AND ALLIED CONTRACTS

Review & supervise the processing of invoices by subordinates (like invoices for rig charges, bits & float equipments, cement jobs, logging, perforation ,drilling fluids etc.) as per rigs and wells before submittal to supdt. of contract for approval.

Hands on experience as regards validity of suppliers L/C, performance bank guarantee, verification of cumulative payments with ‘Not to exceed value’ of the contract, invoke of L/D clause, adjustment of advances(wherever applicable), preparation of year end accrual in Maximo.

Negotiations with Contractors for inadmissible payments.

PREPARATION AND ADMINISTRATION OF DRILLING CONTRACTS

Working as a Technical Support Group representative to cover cost and planning/ techno commercial aspect of Rig contracts, service contracts like cements, muds, logging & perforations, material contracts like bits, fishing tools, float equipments etc……

Preparation & administration of manpower contracts/ Finance Rep of other Drilling Contracts . Raising of contract requisition, RFP, tender bids, negotiation, calculation of NTEV, write up/ modification of clauses of the Contract, contract financial approval, support to management in tender committee, raising of adjustment order as and when needed.

FUND MANAGEMENT OF THE GROUP

At the beginning of the month, fund requisitions of the Group required to be issued to accord appropriate approval from KPC.

RISK MANAGEMENT

Hands on exposure to the following issues of the then deployment of 65 Rigs:-

Prompt- identification thru. Rig name- classification whether Drilling or workover Rigs- proper Rig deployment schedule. Activity based scheduling.

Preparation of report of Rig Travel time, NPT (non productive time), Root Analysis of Rig down time from IADC report.

Periodical report of inventory of Casing & tubing, drilling consumables, credits of drilling fluids.

Cost management analysis-Earned value management-ratio of Capex and Opex.

Reducing lead time of material/service, imposition of L/D, review of Vendor’s performance, minimization of rental inventory.

Some facts:-

• Supervised handling of average monthly approval/cost allocation of invoices approx. 2000; amount $60 million thru. Maximo and Oracle Discoverer pertaining to 65 Rigs deployed by KOC.

In this company, I was rewarded as the best employee of the year 2004-05. In addition, I was awarded cash reward almost every year as recognition of my good performance.

Due to my work reasons, I am still well known to present DMD, Managers, Team Leaders of Drilling directorate of KOC.

Garden Reach Shipbuilders & Engineers Ltd. India.

Post held: Accounts Officer/Finance Manager Duration:
28.05.1980 to 15.07.1993.
Reported to GM (Finance-Ship Division). 10 employees like Accountants, Assistants would report to me.

COST ESTIMATING AND BUDGET:-

Financial scrutiny and recommendation of budget Proposals of Shipbuilding & ship repairs. Preparation of Capital, Cost, Revenue & Profit Budgets. Different M.I.S involving follow-ups of the Budgets. This includes preparation of budget of individual ship (deliverable to Navy, Coast Guard, BSF) from the Keel laying to commissioning stage.

WORKING CAPITAL MANAGEMENT

Preparation of projected cash flow statement. Matching of production cycle/Accounts payable with scheduled billing/collection in various stages of production. Control of inventory. Negotiation with Banks.

PLANT/OPERATION ACCOUNTING

Project / contract costing and its related works. Supervision and control of operation cost records. Computation of overhead recovery rates. Valuation of Work- in Progress. Advice of Sales Price. Reconciliation of Cost with Finance. Cost Control. Scrap Accounting and its profitable disposition. Accounting of Expendable tools & Consumables.

CORPORATE ACCOUNTING

Work as a member of the financial accounts finalization team. closing works & finalization of annual accounts. knowledge of various statutory requirements in annual accounts. Hands -on experience over preparation of annual accounts, different schedules vis-à-vis disclosure requirements of relevant schedules.

SALES ACCOUNTING

Hands-on experience over raising of Invoices, Invoicing Procedures and Collection Drives. Control of Debtors’ Ledger. Credit Management and Realization.

Pricing, contract estimates and finalization.

OTHER JOBS

Finance member of different Purchase Proposals, Tender Committees. Approval of Suppliers’ Invoices. Handling of performance bank guarantee, L/C application, adjustment of advances and L/d etc.

The company had different products like ship building & ship repair, manufacturing of crane & road-rollers, marine diesel engine as a several profit centre located at different locations. This would involve compilation job for the purpose of Annual Accounts.

Mc-leod Russel (India) Ltd. India (Tea manufacturing industry).
Post held: Senior Internal Auditor. Duration:
08.03.1979 to 27.05.1980.
Reported to Group Cost Advisors. 2 Auditors would report to me.

Exposure to different aspects of Industrial Process Accounting and General Finance. Financial Audit and Functional Audit. Audit of Corporate Accounts.

Internal Audit experience over different tea-estates.

Review of budget process & variance analysis.

When I joined , MC-Leod Russel India Ltd. & Namdang India Ltd. were formed & amalgamated (with 21 tea-estates) after being separated from Jardin Handerson Ltd. During the process of merger , I have worked to prepare their whole asset register & new accounting system of the company.