Deputy Lead Manager Gas Purchases-SSGC, Karachi

Sui Southern Gas Company Limited,  Karachi                                                     Job Code: 8441-01                                                                                   Qualification: 

• CA / ACMA with at least 4 years of post-membership experience. Or ACCA / MBA in Finance from HEC recognized university

Experience:

• At least 6 years of experience.   

Roles & Responsibilities:

• Review and ensure smooth and timely processing of monthlygas purchase invoices from gas fields,recording of purchases in books of accounts after the invoicesare verified by operations.
• Supervision of compilation of gas purchase invoices data and cross verification of working schedules re-checking financial accuracy, and the compliance of invoices as per the provisions of GSA, OGRA price notifications, and taxation laws.
• Supervision of recording of LPG / RLNG invoices and liaison with internal departments. Ensure all payments are timely entered into Oracle Financials after resolution of all invoice-related issues with suppliers and processed as per Gas Purchase Agreements within the due date to avoid late payment charges and litigation. 
• Organize Digitalization of M-forms for foreign exchange payments to foreign E&P companies on Bank FX Portal for reviewing and approval for onward submission to AGM (F). (Around more than 50 M-forms monthly are approved on FX Portal).
• Review notes and memos of payment release for the new field; On initialing or signing of GSPA / Term Sheet / Letter of Agreement, the process of internal approvals is initiated which includes Legal advice and Management approval. Liaise with Sui Northern Gas Pipelines Ltd (SNGPL) to work out Weightage Average Cost of Gas (WACOG) for uniform gas rate across the country in compliance with the Agreement for Equalization of Cost of Gas Pursuant to policy Guidelines of GOP.
• Supervise monthly Preparation of Late Payment Surcharge (LPS) Schedule with (i) respective LPS calculation clauses (ii) surcharges rate is computed on overdue invoices from gas fields (iii) payment dates are updated and overdue invoices are added. LPS is recorded through Journal Voucher (JV) for Interest Accrued disclosure in annual report. Supervise monthly preparation Cost of Gas Schedule including (i) Opening Gas in Pipelines (ii) Field-wise MCF and MMBTUs (iii) Month-wise details of Cost of Gas for invoices received from gas suppliers (iv) Computation of Weighted Average Cost of Gas (v) Adjustment for Gas Consumed Internally (vi) Closing Gas in Pipelines (vii) incorporated all invoices, debit/credit notes.
• Reconciled schedule of Cost of Gas is submitted to the Accounts department for Financial Reporting at each reporting period.
• Supervise monthly preparation of Gas Purchase Budget for FY. (A) (i) Estimated volume received from Transmission Dep. (ii) Crude oil data is collected from OGRA (iii) Petroleum policies are incorporated to calculate price per MMBTU (iv) Cash Flows are prepared (v) variances. (B) Estimate /Actual Budget is prepared for onward submission to RA for OGRA submission. Conduct analysis of financial risk assessment; i) the due dates of invoices are actively monitored by Gas Purchase department and the processing is done accordingly to minimize financial risk; ii) Finance department send intimation to the concerned department responsible for timely settlement of invoices; iii) Finance department maintains invoice wise status sheet for all invoices with proper reasoning for each invoice to keep track of any dispute and communicate to the suppliers and report to the management at regular intervals; iv) Legal opinion is obtained where the matter requires consideration from the legal department; v) Prepare Risk register by Gas Purchase department. Therefore, adequate mitigating controls are carried out in order to protect the company from any legal issues. Providing circular debt information in coordination with Treasury department on a timely basis.
• Liaise and provide key information / documents / queries to internal and external auditors, Ministry of Energy, and other departments pertaining to gas purchases.
• Prepare and submit schedules and reports on monthly/ quarterly/ yearly basis for review by senior management.
• Liaise with Commercial Banks regarding foreign remittances to support Treasury department.
• Preparation of monthly / quarterly and annual schedules for submission to Accounts department.
• Review of Monthly MIS report to MD. Compile information for Regulatory Affairs (RA) for submission of Petition to OGRA. (a) Cost of Gas (b) T-Sheet. Ensure compliance to the Enterprise Risk Management Framework enforced in the Company while performing job responsibilities in accordance with his assigned role.
• Ensure compliance to the Business Principles and Ethics Policy / Code of Conduct.