Lead Investment Governance and Cost Controller

Job Description

Job Description ACCOUNTABILITIES & RESPONSIBILITIES Accountabilities Activities 1 Control over Procurement, Managing the functioning of Procurement Providing specialized services including and not limited to analytical and / or advisory in nature. Control over procurement process, providing expertise in the procurement compliance commission: for non-hydrocarbon Procurement, Asset Development Projects, Ethanol Procurement & Expenses through non Procurement transactions Provide concurrence to all procurements of the Company including subsidiaries for all individual transactions exceeding certain limit Improve the efficiency of procurements and prevent financial losses to the company Establish internal control measures at all procurement stages from category strategy to contract signing, ensure process is transparent and objective Provide inputs on preparing the qualification criteria an independent expert evaluation (recommendation) on vendor selection Performance Management through analytics and MIS at various levels in the management at regular intervals and guidance to Procurement & Business teams when necessary Adapt to the situations constantly and develop new procurement solutions through evaluation, innovative thinking etc. some of the key examples are Ensure PCC meetings are conducted as planned regularly, driving agenda, ensure participation from Business in PCC, Business Compliance to PCC recommendations, follow-up of action plans, documentation of minutes, MIS & reporting 2 Governance &Controls over Procurement function Setting the control framework along with procedures from Source to Pay within broad policies and principles. Development of priorities within the scope of work to achieve procurement objectives. Ensure and support that financial controls in procurement, warehousing and contracting processes are designed effectively, operational effectiveness of controls is stable; Develop, review & propose changes in Policies and Procedures together with Business Ensure comprehensiveness of policies & procedures Control over implementation of audit recommendations and action plans (internal and external), analysis of financial incidents, violations in contracting/procurement, coordination of risk management activities: development of measures to prevent and minimize negative consequences, improvement of normative documents, procurement information systems, etc. Member of negotiation committee for guiding & decision making for all high value procurement Transactions Participate in contract dispute resolution negotiations and ensure dispute does not lead to legal actions Control internal policy compliance supported by expertise of Head Legal and Chief Compliance & Security Officer. Highlight major non-compliances for corrective actions 3 Exercising the cost control and reduction initiatives Challenge the requirements & demand plan, identify various avenues and tools and sourcing process (alternate tech, standardization, process re-engineering, consolidation etc) that may lead to savings in spend without compromising on the quality of requirement & the integrity of the operations. Ensures costs are well within budgets through continuous guidance. Driving cost improvement/savings projects 4 Managing Tendering & Bidding cell Managing the tendering process Defining, managing, monitoring and resolving issues related to the Bids receiving process Driving e-bidding process in a controlled manner with high standards of integrity Developing & updating the training module for e-bidding tool and ensure training imparted to third parties Reporting non-compliances and recommendations of actions on process deviations 5 Implementation of Investment Governance (IG) framework and organization Key role from Finance in building the Investment Governance (IG) in the Company. Analysis the investment proposals (both Capex/ kin to capex), facilitate approval process and control over execution of investment decisions in the Company. Setting standards for Financial Memorandums (FMs) or Decision Support Package (DSP), analysis and optimization of investment portfolio in terms of economic efficiency, seeking improvement potentials. Ensuring compliance to Stage Gate review protocols including completeness of the DSP / FM in terms of Quality & Coverage. Facilitate business unit teams in complying with IG framework requirements. Monitoring and post-project analysis of economic/other indicators for identified projects and implementation efficiency. Enhance discipline around making and monitoring investments (achieved through comprehensive review and categorization & prioritization matrices), implementation and ownership of adequate financial controls in investment process. Support business teams in modification of relevant SOPs or workflow diagrams for IG framework implementation. Overall provide a comprehensive framework comprising systems, structures, policies, processes, and roles & accountabilities to address and implement IG responsibilities, in a seamless manner across departmental borders Organize investment committee meetings. Review performance of stage gate framework & appraise Investment /Management Committee as required. Custodian of Investment Governance related documents and undertakes review and update on relevant data as required 6 Reassurance to management on investment opportunities (Capex/ akin to Capex) Provide reassurance to management on investment opportunities, their performance across the lifecycle and a basis for effective investment decision-making. Drive adherence to compliance requirements relating to investments vis-à-vis pre-defined internal policies and external regulations. Support in implementation of Investment / Management Committee recommendations. Review proposals involving long-term investment which are akin to capex but part of opex budget. 7 Managing investment portfolio of the Company Track the performance status of existing investment portfolio of the company. Analyze and report on capex utilized and proposed for next financial year Project Prioritization: Support management in prioritization of investment projects and/or investment programs against other projects aligned to the investment strategy. The investment projects mentioned above will include both profitability improvement project and mandatory projects identified under the purview of safety or environmental requirements, compliance with regulatory bodies, a part plant maintenance, supply security, etc. Exercise necessary capex budget controls though existing SAP system. Support management in deciding on threshold metrics for making investment in profitability improvement projects. Continuous project cash-flow monitoring and supporting optimization. Risks associated with projects Work with risk champions for identification or various risks, their quantification, development and implementation of risk mitigation measures. Reporting and reassurance on the individual investment opportunity / project risk and on an aggregate level. Support relevant officials in periodic review of various risk levels & mitigation plans’ effectiveness Business planning process Work with business units to determine most efficient set of investment projects/programs to be included in the Organization business plan. Key support and assurance role in preparing annual and 5-year Capex program. This includes recommendations on project prioritization for current and future projects Monitoring and reporting Prepare monthly / quarterly capex related reports for CGCO/CFO and Shareholders’ team, other stakeholders (as required) and engage in discussions on the same as required Monitoring & Reporting of identified investment project KPIs and provide information on the project performance through key indicators Provide objectivity to management review by timely providing required information for decision-making. Enable management to monitor and limit risks within thresholds. Escalate critical issues and non-compliances to management. Communicate clear and accurate information Monitoring & Reporting of Investment Governance KPIs. Facilitate concurrent monitoring of important transactions. Review quarterly/ yearly/other business related reports prepared by Business Units and apprise the CGCO of the latest status Business Controlling Work with business teams in developing new SOP, firming up of process flow, etc. in relation to operational changes, Redefining the policy, procedure & approving authority as guided by management by taking inputs from various teams as per the changing business scenario Coordinate with business units for inventory Physical Verification (PV) related matters. Report on PV of inventory for refinery and marketing locations. Provide adequate financial expertise, ensure proper financial/economic efficiency and justification of non-hydrocarbon proposals Monitor & Steering digital transformation projects Responsibilities ACCOUNTABILITIES & RESPONSIBILITIES Qualifications SKILLS & KNOWLEDGE Educational Qualifications & Certifications: Bachelor in Engineering or Technology (preferably Chemical or Mechanical) or Finance or Economics And Member of ACCA, CFA or equivalent international organization, CA/ICWA or Master in Economics/Finance or equivalent. Relevant (Functional/Level) & Total Years of Experience: Not less than 15 - 20 years working experience in finance, investment governance, procurement, cost control, risk management/management/ business consulting services in Big 4/Top consultant company Minimum 5-6 years of managerial experience in similar size Oil & Gas sector or manufacturing company (similar or bigger than Nayara Energy). Functional Skills: Sound knowledge of downstream oil & gas economics (refining, trading, marketing). Deep understanding of Business, Finance, Commercial & Procurement processes, contracts & agreements in big size manufacturing companies Should have knowledge of strategic integration / direction for the business function within the organisation General acumen for understanding any government /regulatory notifications/guidelines while may affect the investment projects. Experience in implementation of change management projects Behavioural Skills: Strong leadership and presentational skills. People management skills - ability to work with different teams and draw upon their resources and lead them to a common goal. Strong analytical and conceptual thinking. Supporting team members in developing required skill sets to facilitate assigned jobs. About Us With the agility of a start-up and punching power of a global enterprise, Nayara Energy is perpetually motivated to reimagine every stage of the hydrocarbon value chain - from refining to marketing. And, we are gearing up to delivering crude to chemicals too. In this age of acceleration, we are drawing on the deep knowledge to deliver excellence, every step of the way. As the fastest growing pan-India fuel retail network, we are powering India’s growing energy demand by expanding our retail footprint at a massive pace. We are making a tangible difference with our products, services and sustainable development initiatives to energize lives in our ecosystem. This is what makes us a truly integrated downstream energy company that challenges the status quo, every step of the way. Pivotal in our journey towards an ‘Extraordinary’ future is our energetic, diverse and ethical workforce. By working together relentlessly, we are confident of succeeding in the ever-changing energy landscape, today and tomorrow. Show more Show less