The Sector Financial Management Section Head is responsible for providing approval for the financial and investment activities of the licensed entities operating within the energy sector. This includes approving financial budgeting, reporting and the correct completion of audits, in accordance with the regulations, codes and standards applicable to the licensed entities.
In addition, the Sector Financial Management Section Head is responsible for reviewing and analyzing investments and capital projects proposed by the licensed entities, undertaking the necessary due diligence, financial modelling and risk analysis. The role is responsible for ensuring that the investments and capital projects proposed by the licensed entities are aligned, do not conflict with one another, and support the achievement of the strategy and goals for the energy sector. The review, approval and monitoring of generation and desalination investments and network investments will be led by Partnership & Risk Department and Energy / Water Pricing and Tariff Departments respectively.
- Cascade Abu Dhabi Accountability Authority (ADAA) and Department of Finance (DoE) guidelines and standards to the licensed companies, and act as a reference when required.
- Approve the compliance of the financial and accounting policies and procedures of the licensed companies, ensuring that there are policies and procedures for financial governance, and controls are embedded to support effective execution of accounting procedures.
- Approve subsidy budgets prepared by the licensed companies and receive regular reports on the disbursement of budgets, overseeing alignment to the strategic financial objectives of the licensed companies.
- Provide approval that financial audits have been completed correctly within the licensed entities, in line with ADAA guidelines. Escalate breaches of compliance to ADAA.
- Manage review and analysis of the audited financial statements of the licensed companies in the energy sector.
- Undertake appropriate due diligence, analyze and approve investment proposals from the entities operating in the energy sector, focusing on alignment to the strategic goals of the sector, return on investment (ROI) and investment timelines. The review, approval and monitoring of generation and desalination investments and network investments will be led by Partnership & Risk Department and Energy / Water Pricing and Tariff Departments respectively.
- Oversee investment proposals and capital project proposals within the energy sector, ensuring alignment across projects to the overarching sector strategy. The review, approval and monitoring of generation and desalination investments and network investments will be led by Partnership & Risk Department and Energy / Water Pricing and Tariff Departments respectively.
- Liaise with the Partnership & Risk Department to identify any financial risk within the energy sector and review mitigating actions. Report any financial risks identified to the Partnership & Risk Department and DoE leadership.
- Prepare reports for DoE leadership providing overview of the compliance of the licensed entities to the applicable financial regulations, codes and standards.
- Prepare reports for DoE leadership detailing the investments proposed, analyzed and approved for the licensed entities, in coordination with Partnership & Risk Department and Energy / Water Pricing and Tariff Departments. Consolidating all investment and capital projects across the sector, providing a comprehensive view of financial investment, key focuses, timelines and dependency / interaction of the projects.
Support with any other finance and investment activities that may be required by DoE as instructed by the Sector Financial Management Director.