Babatunde Adeoye
- Lagos, Nigeria
- January 27, 2022
A creative, merit driven and astute professional with Eight (10) years of experience in Account payables, treasury, operation management, financial and management Accounting gained in upstream sector of the Oil and Gas, financial services and Communication industry. Highly motivated and always ready to meet and exceed set targets and expectations. Organized and dependable candidate successful at managing multiple priorities with a positive attitude. Willingness to take on added responsibilities to meet team goals.
SKILLS & SPECIALITIES
Managerial Accounting
Account reconciliations knowledge
Financial account maintenance
Accounting processes
Materials accountability
Accounting systems and controls
Joint ventures and alliances
OTHER SKILLS
Oracle, EAM and SUN Financials
Education
Masters in Business Administration
Bachelor of Science Accounting & Management
Experience
• Assigned Assets: OML 11, OPL 310, OPL325, OPL 276
• Manage and maintain business controls framework for line based on Corporate Controls Framework, and ensure controls are in place to address associated risks and uncertainties
• Provide budgeting, commitment and budget change control on Company's production assets
• Provide cost structure reporting, analysis and management information
• Provide day to day business advice (financial, controls) to ensure integrity of spending in this area and that investments are focused in line with plan
• Assist Asset Manager with Business Plans and performance monitoring
• Provide input and contribute to Company asset Business Controls Committee meetings and follow up on action points
• Ensure Asset business controls incident reports are prepared and submitted as required
• Monitor and ensure that costs and accruals are allocated and classified to correct accounts to enable reliable reporting of spend
• Act as audit focal point with audit function for asset, and work with Partners, shareholders and sanctioned 3rd parties on assurance reviews
• Ensure early and accurate OPEX cost plan and drive line in similar manner for CAPEX
• Manage and drive Budget Commitment Control meetings at asset level
• Ensure adherence to control framework for budgeting, budget change control and payment authorization
• Coordinate effective stakeholder interface to ensure full compliance with legislation, directives, rules and guidelines
• Protect corporate image by driving full compliance with relevant legislation, directives, rules and guidelines in line with policies and procedures
• Any other duties as assigned by CFO
• Timely preparation of reporting packages, preparation of schedules and listings, reconciliation of general ledger/balance sheet reconciliation of all Joint Venture accounts to aid preparation of regulatory reports in (Monthly, Quarterly and annually) in accordance with t monthly, quarterly and year closing timetable
• Responsible for preparation of monthly accruals, process for review and approval of Senior JV Accountant for appropriate recognition of Capex, Opex and Revenue
• Responsible for the reporting of monthly actual Gross & Net Joint Venture information to the Corporate Reporting team; specifically, Net Current Month and YTD actuals against Budget including variance analysis
• Responsible for production of monthly Corporate Cash Call and Cash flow Forecast by Interfacing with treasury team
• Familiar with key relevant commercial agreements and ensure that these are correctly reflected in Joint Venture accounts
• Interface with Asset Manager
• Responsible for Joint Venture ledgers and internal control checks support full cost recovery
• Assist with development and implementation of new initiatives to simplify Joint Venture accounting process
• Assist with Joint Venture external audit and work to resolve audit findings in a timely manner through interface with Joint Venture Accounting Team Lead and support group external and internal audit through interface with Group Financial Reporting Team
• Work closely with Business Analyst, Group Financial Reporting team and Accounting Shared Services team to deliver quality information in most efficient manner possible
• Participate in the FINCOM, CPOC & TCM meetings and ensuring all issues relating to the operation of the block are adequately resolved and also ensure Cash Call are remitted as and when due to various operating parties
• Coordinates yearly budget and Performance sign off with NAPIMS Fincom, Tecom and Macom on OML 131 by ensuring all subcommittees budget and performance for year are signed off by each committees for cost recovery
• Ensure closer collaboration with Partners and technical team also ensure there is a seamless working relationship between JV accounting team and other teams within and outside Finance
• Key Achievements
• Actively participated in development and re-alignment of appropriate chart of accounts used for JV Accounting Reporting systems which is between UAP Code and Oando's Account
• Provide dedicated finance support for JV Budget monitoring and management
• JV Accounting and reporting which includes Partners cost review and cutback activities
• JV activities relating to Accurate Cash Call review and coordination of Cash call processes and timely remittance
2013-10 - 2018-12 Joint Venture Accountant
OANDO ENERGY RESOURCES
• Assigned Assets: OML 13, OML 56, OML 145 & OML 131
• Key Roles & Activities
• Timely preparation of reporting packages, preparation of schedules and listings, reconciliation of general ledger/balance sheet reconciliation of all Joint Venture accounts to aid preparation of regulatory reports in (Monthly, Quarterly and annually) in accordance with t monthly, quarterly and year closing timetable
• Responsible for preparation of monthly accruals, process for review and approval of Senior JV Accountant for appropriate recognition of Capex, Opex and Revenue
• Responsible for the reporting of monthly actual Gross & Net Joint Venture information to the Corporate Reporting team; specifically, Net Current Month and YTD actuals against Budget including variance analysis
• Responsible for production of monthly Corporate Cash Call and Cash flow Forecast by Interfacing with treasury team
• Familiar with key relevant commercial agreements and ensure that these are correctly reflected in Joint Venture accounts
• Interface with Asset Manager
• Responsible for Joint Venture ledgers and internal control checks support full cost recovery
• Assist with development and implementation of new initiatives to simplify Joint Venture accounting process
• Assist with Joint Venture external audit and work to resolve audit findings in a timely manner through interface with Joint Venture Accounting Team Lead and support group external and internal audit through interface with Group Financial Reporting Team
• Work closely with Business Analyst, Group Financial Reporting team and Accounting Shared Services team to deliver quality information in most efficient manner possible
• Participate in the FINCOM, CPOC & TCM meetings and ensuring all issues relating to the operation of the block are adequately resolved and also ensure Cash Call are remitted as and when due to various operating parties
• Coordinates yearly budget and Performance sign off with NAPIMS Fincom, Tecom and Macom on OML 131 by ensuring all subcommittees budget and performance for year are signed off by each committees for cost recovery
• Ensure closer collaboration with Partners and technical team also ensure there is a seamless working relationship between JV accounting team and other teams within and outside Finance
• Key Achievements
• Actively participated in development and re-alignment of appropriate chart of accounts used for JV Accounting Reporting systems which is between UAP Code and Oando's Account
• Provide dedicated finance support for JV Budget monitoring and management
• JV Accounting and reporting which includes Partners cost review and cutback activities
• JV activities relating to Accurate Cash Call review and coordination of Cash call processes and timely remittance
• JV Portfolio compliance which involve activities reporting and coordinating Company Non-Operated JV Financial activities in line with Joint Operating agreements and relevant statutory/regulatory provisions with Partners or government agencies
• Coordination and attending to all matters relating to Joint Ventures Partners on Corporate Audit
• Responsible for making Joint Ventures Financial presentations at Partners meetings
• Joint Ventures Relationship Management
• Manage company's Payables & Receivables Accounting, Monitoring and Reporting system which involves invoicing, customer management, receivable and subledger reconciliation and liquidity management
• Bank and intercompany transaction reconciliation at every month end
• Involvement in Project accounting processes ranging from Cost control management to Cost performance Reporting
• Ensuring tP2P in a three-way matching in account payable module is complied with in line with the company accounting policy
• Participate in the treasury function to ensure that company's cash flow is secured and also act to minimize the financial risks profile of the company by ensuring that interest and foreign currency risks are well managed and in line with Group standards
• Responsible for Account payable accrual processes, amortization of rent, insurance and staff medical in a monthly, quarterly and yearly basis
• Assist in Withholding tax and Value added tax remittance
• Support during the quarterly and yearly external audit to resolve audit queries
• Key Achievements
• Ability to manage the company working capital effectively
• Timely preparation of reports on payables and receivables
• Involvement in Cost control processes
• Account Payable processes involvement and implementation procedure
• Oracle E-business champion on AP and AR processes, implementation and knowledge sharing
• Timely Tax remittances and audit control