Paragon is searching for a Head of Finance for an E&P company in Iraq. This is a rotational role (35 x35) based in Iraq and reports to Head of International Financial Operations. PositionTitle : Head of Finance StafforTemp : Staff Rotation : 35 x 35 Expectedpackage : To be discussed. Location : Iraq Position Overview: Provide strategic, commercial and financial guidance as a Business Partner to key stakeholders including the CFO and COO on matters relating to compliance, budgets and expenditures. Lead the Finance function in line with the Finance mission to be Role Model Guardian through protecting the financial resources of the organization and excel in providing accurate and reliable financial information to stakeholders by using the latest AI technologies. Oversee the in-country Finance function to deliver seamless end-to-end operations including Accounts Payable, Treasury, Tax, Payroll, Accounting, Budgeting and Reporting. Regularly assess risks and put in place mitigation plans to address them timely whist ensuring compliance with the Production Sharing Agreement (PSA) including obligations relating to statutory and local reporting as well as the Company s policies and procedures.

Duties, Responsibilities, Performance Standards & Percentage of Time:

Duty or Responsibility Management:

• Supervise and manage effectively the members of the finance and accounting team.
• Plan and control the allocation of Finance team resources in a manner that will ensure all activities are performed in the most efficient and cost-effective way.
• Direct and supervise the day-to-day activities of the Finance team.
• In conjunction with CFO and Head of International Finance Operations, contribute to the development of Key Performance Indicators (KPIs), goals and objectives for the Finance team.
• Monitor working practices and processes to ensure the Finance team KPIs, goals and objectives are met.
• Provide input to develop appropriate staffing level to ensure that the Finance team operations are handled effectively and efficiently.
• Keep up-to-date on new and changes to laws and regulations relevant to the company and the Finance function, and contribute to the development of new or amendment of existing documents (guidelines, standards, procedures, etc.) when necessary.
• Provide procedural, controls and technical guidance to staff and assist them in resolving queries and problems.

Operational:

• Perform and direct finance and accounting operations; ensure that proper controls and standards are in place and all activities comply with regulatory requirements and company policy .
• General Supervise monthly closing process to ensure that all related activities are completed in accordance with the schedule to facilitate timely reporting.
• Ensure that all reconciliations are performed and that the company's consolidation practices and principles are followed.
• Review and approve all accounting journals prepared by the Finance team through ERP.
• Provide direction in the preparation of audit packs.
• Provide direction and ensure timely provision of information as may be required by both internal and external stakeholders.
• Review and provide input to contractual clauses of tendering documents relating to financial matters (e.g. tax regulations, payment, invoicing etc.)

Accounts Payable, Treasury & General Ledger

• Review and monitor Accounts Payable Aging to ensure a healthy balance sheet is always maintained for the Company.
• Act as necessary on timely clearance of old balances (if any).
• Maintain good communication and relationship with vendors by attending to their issues on a timely manner.
• Ensure payment on time to vendors is always met.
• Review and approve all payment orders prepared by Treasury Accountant for payments to vendors and local salary according to schedule.
• Review and approve quarterly Central Bank Reports. Ensure timely submission according to schedule.
• Review and monitor all balance sheet reconciliations and reconciling items to ensure a healthy balance sheet position is attained by the Company.
• Act as necessary on timely clearance of old balances (if any).
• Review and approve balance confirmation required by external auditors when requested, including for vendor s auditors.

Tax & Payroll

• Review and ensure timely filing of annual and periodic tax returns applicable to the company s operations in the region and resolve in a timely manner any issues arising in close co-ordination with Finance Head Office.
• Review and monitor all tax related balance sheet reconciliations and reconciling items to ensure a healthy balance sheet position is attained by the Company.
• Act as necessary on timely clearance of old balances (if any).
• Ensure sufficient and timely payments are made to tax authorities covering WHT and CIT.
• Reduce or eliminate as possible penalties relating to non-compliance imposed by Tax Authorities.
• Review and approve monthly payroll related reports and payments on a timely basis.
• Ensure local employee s payroll is processed on time in line with employment contracts.

Management Accounting

• Direct and supervise together with line manager the Group 5-Year Business and Annual Operating Plan and Budget and its revision with close co-ordinations with Finance Head Office.
• Direct and supervise preparation of Annual Work Program & Budget (WP&B) and its narrative as per Agreement (PSA/PSC/EDPSA/C)) and lead the MCM.
• Direct and supervise the preparation of variance report and cost control through detailed General Ledger and budget analysis to ensure cost correctly captured and reported to enable full cost recovery. Adverse trends identified; recommend measures to address issues (including non-conformities).
• As required informs management of recommended courses of action to mitigate losses and maximize profits, when significant events occur that can adversely affect the business long-term goals.
• Work closely with all budget holders to ensure any variances explained, addressed and acted upon, and forecast numbers captured and reported. This include identify, execute, monitor and report the cost saving/optimization/reduction achievement to stakeholders and shareholder periodically.
• Coordinate with the operating departments in the field to resolve all matters that affect accounting and reporting.
• Ensuring quality in forecasting and financial reporting issued to both shareholder and stakeholders.
• Direct the overall Authorization for Expenditure (AFE) management including AFE closures.
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Desired Candidate Profile

• Minimum Education Level Required Bachelor's degree in finance, accounting economics or business studies
• Certificate: CIMA/ACCA/ICAEW/CPA
• The minimum years of experience required (All qualification listed Must be job related) Minimum 10-15 years oil and gas industry (upstream) finance, tax and accounting experience, 5 years in a supervisor capacity, recognized professional accounting qualification.