Oando Plc is one of Africa’s largest integrated energy solutions provider with a proud heritage. It has a primary listing on the Nigeria Stock Exchange and a secondary listing on the Johannesburg Stock Exchange. With shared values of Teamwork, Respect, Integrity, Passion and Professionalism (TRIPP).
We are recruiting to fill the position below:
Job Title: Economist
Location: Lagos
Job Type: Full-time
Entity: OER
Unit / Department: Planning & Economics / Commercial
Reports To: Senior Economist
Purpose
Summarize briefly the major function and purpose of the position:
- The Economist is to liaises with: Asset Managers, Business Development Managers, Finance Managers, Investor Relations Professionals, Geologists, Geophysicists, Technical Leads, External Consultants to provide efficient, fit for purpose and commercially robust analysis for decision support and statutory reporting.
- The Economist will also contribute to ensure efficient distribution of limited financial resources to the various assets within the organization and evaluate the economic viability of potential acquisitions and/or divestments.
- The individual will develop, analyze, and execute sound economic models that will drive strategic decision making and allocation of current resources.
- The Economist is expected to make economically driven recommendations through the use of economic models, cash flows and other methodologies.
- This process will then enable OE R to evaluate proposals in terms of the organization’s priorities and financial resources.
- Through the year, the Economist will periodically monitor the asset portfolio by generating and reviewing reports to determine if project s remain economic vis a vis changes in forecasts, assumptions and current realities.
- If value erosion occurs between FID and actual performance, the supervisor will be expected to write a report explaining the value erosion and recommending revised procedures to avoid or alleviate deficits.
Major Responsibility Area:
- Identify the major duties and tasks accomplished by this position.
Essential Function
- Research and provision of practical best practice in various asset class evaluation and risk evaluation
- Monitoring and modeling of fiscal and financing environment variables relating to specific projects and assets
- Conducts, market research, competitive analysis, asset benchmarking and specific topical research and analysis as required.
- Complies with approved decision making and monitoring systems, processes, procedures & policies’ and ensures effective controls are adhered to in handling job duties Responsibility for oversight and development of the Economist(s)
- Supports the origination, closing and on-going management of transactions.
- Develops the models for commercial evaluation and Decision analysis
- Proactively review and challenge operating effectiveness and costs and critique assumptions to ensure they are realistic
- Works with the Asset Managers and other technical and commercial functions , to provide economic models for the assets and projects in OER’s portfolio
- Monitor commerciality of existing projects in the investment portfolio.
- Evaluate potential assets to ascertain viability for acquisition/divestment and merger targets.
Key Performance Indicators:
- Quality, comprehensiveness, timeliness and accuracy of data provided for analysis.
- Quality and depth of evaluation and analysis
- Accuracy and timeliness of output for Decision making and to meet statutory reporting timelines
- Creativity and innovativeness.
- Initiative and enthusiasm, constant self-improvement
- Adherence to policies, processes and procedures.
Job Specification
- Undergraduate Degree in Petroleum disciplines or Business / Economics or other relevant fields from a reputable university.
- Postgraduate degree in economics or petroleum or energy related disciplines are a plus but not necessarily required.
- 3 – 5 years’ post NYSC experience in an operator environment (e.g. Planning, Business Development) or a strongly numerical and analytical role in Finance or Asset Management; alternatively 4 – 6 years in a non-operating company in similar roles
- Talented, creative and with strong Business commercial value acumen.
- Competent application of petroleum economics, risk and decision science and Nigerian fiscal terms.
- Advanced competencies in using Excel, Word and PowerPoint software programs.
- Ability to structure and develop complex models and transactions, and interrogate role specific software.
- Provide competent analysis of third party commercial evaluations and any business analysis engagement of the commercial evaluation process and deliverables
Core Competencies:
- Outstanding financial modeling skills: numerical & analytical skills, and presentation skills.
- Strong research & Prospecting Skills. Able to dig up data and information quickly
- Interpersonally strong with superior presentation skills and the ability to influence all levels within the organization
- Basic knowledge of IPO’s, capital raising and Mergers and Acquisitions
- Creativity and innovation.
- Integrity.
- Expert understanding of Oil & Gas Industry Dynamics.
- Networking & Relationship Management.
- Able to access the bigger picture, but comfortable working within a detail driven environment
- Business performance monitoring and reporting.
How to Apply
Interested and qualified candidates should: Click here to apply