JOB SUMMARY
The Chief Financial Officer will be responsible for leading the Company’s financial strategy, ensuring robust financial governance, and driving sustainable growth. The role entails formulating and executing financial strategies, developing and reviewing financial plans, and providing strategic guidance to the Finance, Accounts, and Taxation functions. Key responsibilities include preparing and monitoring revenue and capital budgets, overseeing treasury operations such as cash management and investments, managing business licensing, and ensuring full compliance with statutory, legal, and reporting requirements and timely finalization of financial statements.
The incumbent will liaise with external and government auditors, manage Public Accounts Committee matters, and provide oversight to the Regulatory Affairs, and Risk Management departments ensuring effective risk identification and the development of mitigation strategies.
JOB RESPONSIBILITIES
- To oversee Company’s accounting practices
- To ensure reporting and accounting as per regulatory and statutory requirements
- To get the company’s accounts audited
- To plan and implement appropriate accounting and internal controls for safeguarding the financial resources of the company
- To oversee the company taxation matters
- To supervise the treasury functions including cash management and investments.
- To develop the annual revenue and capital budgets of the company and to ensure adherence to the approved budgets
- To facilitate/assist in working out the financial impact/cost benefit analysis of each new initiative being planned by the company
- To oversee the company investment strategy to maximize the returns.
- To process and finalize financial statements within statutory timelines.
- To provide financial input in the CBA agreement
- To manage, motivate, train and recruit financial team
- To participate in inter-departmental and Management Committee meetings
- To attend Board Audit, Finance, UFG and Risk Committee meetings
- To coordinate with all the departments and regions for timely completion of the budgets and company accounts
- To supervise, coach, guide and develop the resources of operations keeping succession planning in view.
- To inculcate culture of continuous education/ development by arranging in-house /specialized trainings for executives and sub-ordinate staff at LDC or through other reputed national /International training providers.
- To ensure optimum utilization of the Company’s financial resources within the statutory, legal and regulatory framework
- To interact with the various government departments on various issues
- To monitor and comply with OGRA regulations and to submit cases to OGRA for revenue requirements
- To resolve tariff related issues with the regulators
- To interact with the offices of Secretary Petroleum, DG Gas and DG LGs for company affairs
- To interact with the income tax and sales tax departments on the relevant issues
- To interact with commercial banks, financial institutions and Ministry of Finance for investing company funds and arrange various banking facilities
- To interact with the commercial banks to impose collection function
- To ensure smooth and timely completion of the statutory audit, government audit and sales tax audit
- To ensure that all other types of audits are conducted smoothly and as per rules
- To arrange BOD approval/resolution for all required matters
- To ensure timely compliance with all BOD decisions
- To provide status reports to the BOD on different issues
- To present the quarterly, semiannual and annual accounts for review and approval
- To present audited accounts to the Board
