Associate Director - Planning and Reporting

Department

Company: The Red Sea Utility Company

Job Purpose

• The role will be responsible for driving planning and reporting at Red Sea Utility Company,a Subsidiary of Red Sea Global.
• The primary responsibility will be developing & finalizing the short, mid, and long-term plans, annual business plans, and necessary metrics required for performance measurement.
• This role shall identify and oversee project execution to further the organization's strategic intents, including process modernization. They shall also oversee all analysis and feasibility studies for all projects under consideration.
• The role will establish operational processes and shall monitor the implementation of the plans.
• The role will oversee the financial reporting process, interpreting data to identify business enhancement opportunities, and overseeing budgeting and forecasting initiatives.
• The role will be responsible for driving planning and reporting at TRSUC.
• The primary responsibility will be developing & finalizing the short, mid, and long-term plans, annual business plans, and necessary metrics required for performance measurement. This role shall identify and oversee project execution to further the organization's strategic intents, including process modernization.
• They shall also oversee all analysis and feasibility studies for all projects under consideration. The role will establish operational processes and shall monitor the implementation of the plans. The role will oversee the financial reporting process, interpreting data to identify business enhancement opportunities, and overseeing budgeting and forecasting initiatives.

Strategic Contribution

• Derive implications from the organizational strategy and coordinate with various departments such as Technology Utilities and Metering, Operations, Technical and Commercial services to align business activities with the strategic plan.
• Develop and implement tactical plans that will enable the achievement of strategic objectives.
• Provide input to the senior management team in market assessment, trends, and movements to ensure a robust business plan is developed.
• Oversee all feasibility studies being undertaken across all projects teams in terms of analyzing project, acquisition, and initiative feasibility. Review engagement of all third parties to support such analysis activities

Functional Responsibilities

• Periodically conduct in-depth analysis of the strategic initiatives being undertaken and planning capabilities of the organization, generate insights and highlight the existing / emerging long and medium-term issues that may impact the organization.
• Scan the external environment to identify potential changes that can impact the organization. Evaluate their impact and recommend suitable measures to mitigate any adverse effects of the changes.
• Review and approve long-term forecasts for the organization prepared by the Technical Services team and providing necessary technical guidance.
• Ensure the planning activities align with and support ongoing and new development programs and projects.
• Ensures planning documentation is distributed to the Group for approved direction & targets. This includes discussing & recommending Key Performance Indicators (KPI’s), targets & milestones for each plan; monitoring KPI (Key Performance Indicators) achievements & progress; and reporting on KPI achievements.
• Monitors progress of TRSUC Projects and Initiatives.
• Periodically track and communicate progress on TRSUC's business strategy. Provide these updates to the leadership team.
• Provide analysis on competition and industries, identify market trends and best practices, consolidate information into actionable items for reports and presentations. Use online market research to capture findings and conduct qualitative studies as needed.
• Ensure compliance with all reporting requirements, according to current requirements and document new rules.
• Maintain and ensure adherence to reporting schedules and inform client of deadlines.
• Execute financial reporting by compiling and analyzing data relating to revenue, costs, and profitability. Ensure comprehensive tracking of budgeting guidelines, develop accurate projections, and perform variance analyses to drive financial stability and growth.
• Conduct in-depth analysis of customer satisfaction surveys and feedback, identifying and addressing areas for improvement. Summarize these findings and proposed customer experience enhancement actions in regular reports for strategic evaluation and action planning.
• Partner with Commercial team and the wider business to get a line of sight on business developments, new product lines and pricing changes and share relevant financial reporting developments.
• Oversee the annual budget planning process for TRSUC, ensuring that the objective alignment of different departments with the organization's strategic goals.
• Track the implementation of the budget across various departments, relating expenditure to strategic initiatives.
• Take necessary action for any budget deviations highlighted and drive cost optimization initiatives. Oversee initiatives such as cost monitoring and analysis activities to ensure the organization is compliant with all cost saving measures for the projects it undertakes

Policies, Systems, Processes, Procedures, Standards and Reports

• Adhere to all relevant TRSUC's functional policies, systems, processes, and standard operating procedures.
• Assist in preparing accurate and timely functional statements and reports to measure and improve performance.

Risk Management

• Identify different aspects of risk presented during the planning phase and develop mitigation measures to negate or minimize the effect of these risks.
• Ensure decisions are made in accordance with ERM (Enterprise Risk Management) policy and guidelines.
• Monitor the financial environment at TRSUC continually, keeping the leadership informed of potential risks and solutions.

Safety, Quality & Environment

• Apply safety, quality and environmental management policies, procedures, and controls to ensure employee safety, legislative compliance, delivery of high-quality products/service and a responsible environmental attitude.

Continuous Improvement

• Seek and identify opportunities for cost savings and process improvements in line with TRSUC's strategic direction.
• Drive the implementation of best practices across TRSUC, instituting robust internal controls.
• Qualification and Experience
• A bachelor's or master's degree in finance, Business, Economics, Law, or a related field.
• Minimum of 12-15 years of experience in a similar role, preferably in the utility or energy sector. Oil & Gas experience is a huge plus.
• Solid understanding of financial management and performance metrics.
• Proficiency in English and Arabic would be highly beneficial.
• Proficiency in the use of business intelligence tools (Spotfire, PowerBI)