Ololade Abayomi-Adesalu
Regina,SK
Summary
Qualified Chartered Accountant with background experience in one of the “BIG 4” accounting firms (PricewaterhouseCoopers) and over 13 years work experience covering financial reporting, Management Accounting, Project Accounting and Cost Controllership, External and Internal Audit. Excellent team spirit. Extensive software capabilities including SUN systems (super-user) and Microsoft Office suite.
Overview
16
16
years of professional experience
Work History
Finance Controller - Operations and Corporate Support
FIRST Exploration and Petroleum Development Company Ltd.
01.2021 - 10.2023
- Cost control and reporting of costs for Operations and Corporate support units.
- Ensuring all services and products received are within approved contract amounts and variations are escalated.
- Ensure adherence to approved financial authority standards.
- Report operations financials (direct cost and indirect cost and Unit operating cost per barrel) to company management for decision making.
- Ensure cost recovery is realized for all Joint Venture (JV) expenditure and manage reporting of financial performance to Joint Venture partners.
- Reviewing all vendor invoices and work completion certificates to determine viability of expense in line with contract terms.
- Worked with team members to prepare monthly, quarterly, and annual actuals vs budget performance numbers.
- Negotiated potential overruns with one major service provider resulting in over $5m in savings.
Finance Controller- Capital Projects
FIRST Exploration and Petroleum Development Company
07.2019 - 12.2020
- Project Accountant- supporting Capital projects team, project included fabrication of 2 Conductor supported platforms (circa $120m) as well as SURF lines (circa $80m).
- Provide real time costs on Project Commitments, Cash analysis, Value of Work Done, Project Life Forecast, Key Cost Drivers and other key information to Management for decision making.
- Cost control- Ensure all costs incurred have been approved by Management and have sufficient budget cover.
- Ensure full compliance with joint operating procedures; no spend above budget/approval without authorization from Management.
- Worked with team members to prepare annual budgets for capital project for submission to JV partners and approval by management
- Achievements: Provided financial analysis, evidence and documentation to Joint Venture partners which led to approval of over $50m initially in divergent position and potential sole costs.
- Reviewed documents and data to give accurate presentations and forecasts to upper management.
- Projected monthly cash expenditures through efficient budgeting and detailed document reviews.
Management Accountant
FIRST Exploration and Petroleum Development Company
08.2013 - 07.2019
- Financial reporting. Responsible for all financial transactions, GL reconciliation, management reporting and preparation of financial statements.
- Prepared annual company and consolidated financial statements for 3 entities, which was reviewed and audited by external auditors in line with IFRS.
- Preparation of monthly and quarterly management reports for management decision making.
- Worked with consultants for implementation of Info SunSystems (ERP). Super user, train new users, and escalate issues to consultants for timely resolution.
- Responsible for all month end and year end close process for finance department, including Fixed Assets, revaluation and JV cut back process.
- Prepared and presented finance Board Papers for quarterly Board meetings.
- Reviewed accounts, resolved coding areas, and tracked recurring expenses for accrual entry.
- Maintained integrity of general ledger and chart of accounts.
- Prepared working papers, reports and supporting documentation for audit findings.
- Collected and reported monthly expense variances and explanations.
Associate, Senior Associate, Assurance
PricewaterhouseCoopers (PwC)
07.2007 - 08.2013
- Team lead on various upstream and downstream oil and gas engagements.
- Led at least 4 external audit engagements for small and medium clients.
- Managed audit engagement teams of at least 3 people.
- Review of financial statements prepared by client and team members in accordance with IFRS and GAAP
- Review of internal controls around financial reporting, established control weakness and non-compliance and championed remediation for various clients.
- Sarbanes-Oxley; review of internal control environment, identification of weaknesses and recommendation solutions for 1 major International Oil Company.
- Project planning and execution from proposal phase to planning and resourcing engagement teams, billing and monitoring receivables from clients.
Education
Member -
Institute of Chartered Accountants of Nigeria (ICAN)
Nigeria01.2011
Fellow -
Association of Chartered Certified Accountants (ACCA)
UK01.2010
BSc (Upper Class Hons.) Accounting -
University of Lagos, Nigeria
Nigeria01.2005
Skills
- Microsoft Word
- Team Spirit
- Relationship Building
- Microsoft Office
- Accounting Software
Languages
English
Professional Working
Training Courses Attended
- Leading Teams for Emerging Leaders (London Business School) - June 2023
- International Financial Reporting Standards (IFRS) for the Oil & Gas Industry- 2018- Glomacs UK
- Oil and Gas Value chain training -In house- 2017
- Transfer Pricing Training, 2014- PricewaterhouseCoopers, Lagos
- Team Manager 1 and 2, PricewaterhouseCoopers, Lagos
Timeline
Finance Controller - Operations and Corporate Support
FIRST Exploration and Petroleum Development Company Ltd.
01.2021 - 10.2023
Finance Controller- Capital Projects
FIRST Exploration and Petroleum Development Company
07.2019 - 12.2020
Management Accountant
FIRST Exploration and Petroleum Development Company
08.2013 - 07.2019
Associate, Senior Associate, Assurance
PricewaterhouseCoopers (PwC)
07.2007 - 08.2013
Member -
Institute of Chartered Accountants of Nigeria (ICAN)
Fellow -
Association of Chartered Certified Accountants (ACCA)
BSc (Upper Class Hons.) Accounting -
University of Lagos, Nigeria
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