Vladislav Chakhrach

Dynamic and qualified finance and accounting professional with over 20 years of experience in high-responsibility positions in various industries such as oil & gas, shipping, construction, and security/risk management. Exceptional analytical and problem-solving skills, with ability to communicate the financial information to non-finance professionals in the business whilst ensuring that all management information is accurate. A proven ability to constantly challenge and suggest improvements to the existing processes and systems.

JUNE 2021 – Present   Operations Finance Manager

Sonangol P&P Iraq (Operator of oil and gas project in Iraq), Iraq

• Oversee in-country Finance function including Accounts Payable, Tax, Cash control in the country, Payroll, Accounting, Budgeting and Reporting ensuring compliance with the Development and Production Service Contract (DPSC)  including obligations relating to statutory and local reporting as well as the Company’s policies and procedures..
• Direct and supervise together with line manager the Annual Operating Plan and Budget and its revision with close coordination with Finance Head Office as well as preparation of variance report and cost control through detailed General Ledger and budget analysis to ensure cost correctly captured and reported to enable full cost recovery.
• Work closely with all budget holders to ensure any variances are explained, addressed and acted upon, and forecast numbers captured and reported. Coordinate with the operating departments in the field to resolve all matters that affect accounting and reporting.
• Direct the overall Authorization for Expenditure (AFE) management including AFE closures.
• Review of correct allocation by projects and expense codes for all expenditures. Provide guidance and insight on the correct categorization of costs to meet internal needs and local regulatory requirements.
• Supervise monthly closing process to ensure that all related activities are completed in accordance with the schedule to facilitate timely reporting.
• Ensure that all reconciliations are performed and that the company's consolidation practices and principles are followed.
• Review and approve all accounting journals prepared by the Finance team.
• Review and monitor Accounts Payable Aging to ensure a healthy balance sheet is always maintained for the Company. Act as necessary on timely clearance of old balances (if any).
• Maintain good communication and relationship with vendors by attending to their issues on a timely manner. Ensure payment on time to vendors is always met.
• Review and approve monthly payroll related reports and payments on a timely basis. Ensure local employee’s payroll is processed on time in line with employment contracts.
• Monitor material (inventory) management (receiving, physical verification and issuing) to ensure accounting is in line with the Company policies, PSA and other local regulatory requirements.
• Review and provide input to contractual clauses of tendering documents relating to financial matters (e.g. tax regulations, payment, invoicing etc.) 

FEB 2019 -  FEB 2021 Business Integrity Coordinator

LUKOIL Mid-East Ltd. (Operator of the West Qurna-2 oil and gas project in Iraq), Iraq

• Ensures setting up and follow-up of the company compliance programs: anti-corruption, anti-fraud, competition law, international economic sanctions.
• Participation in fraud/corruption/compliance risk mapping, identification of warning flags and implementation of mitigation measures.
• Executes the check of contractors (supplies & clients) in terms of applicability of international economic sanctions, due diligence reports preparation upon results of contractor’s verification.
• Participation upon request in anti-fraud investigations and stock taking.
• Managed budget and expenditures (CAPEX & OPEX) of the Security Directorate. This involved budget preparation and presentation, variation (actual vs. budget) analysis and justification of deviations, if occurred.
• Ensure the finance and accounting actions performed comply with local statutory requirements, internal control measures and are within the control framework (including compliance with relevant policies and procedures).

March 2018 - Feb 2019: Deputy Chief Accountant /Project Accountant

               ZN Vostok LLC (Operator of oil & gas project in Islamic Republic of Iran) Moscow, Tehran.

• Handled full spectrum of financial and cost accounting roles, e.g. Accounts receivable, accounts payable, general ledger, cash flow and expenditure forecasting and budgeting;
• Was responsible for day-to-day finance and accounting operations.
• Produced full set of accounts and ensured timely closing of accounts according to company-wide deadlines.
• Ensures accurate and timely preparation of monthly, quarterly and annual financial results for management use and submission to JV partners as required.
• Reviews of local payroll and ensures that all local taxation and other regulatory requirements are met.
• Managed JV partner, cost recovery and other audit processes as required.
• Participated in policy-making processes, take part in develop Accounting Procedure for Service Contract and JOA and negotiate with National Iranian Oil Company (NIOC) and JV partners.
• External audit support with year-end audit preparation.
• Managed 5 subordinates.

Aug 2014 – July 2017: Internal Auditor / Project Accountant

               Hart Integrated Solutions (internationally recognized risk management company

               operating in Iraq, Afghanistan and African countries) Dubai, UAE   

• Reported directly to the CFO and was responsible for various financial areas of the company with an annual turnover of $120 million.
• Oversaw all aspects of internal financial control of the business.
• Assisting CFO in annual and quarterly budgeting processes, provided sufficient analytical support for financial and controlling processes.
• Controlled month-end closing and reporting in accordance with corporate guidelines. 
• Reviewed and verified a monthly consolidated management accounts of a group of companies before submission to CFO; was developed an algorithm for preparing and verifying of management accounts that helped reduce the time for preparing reports and improve its accuracy.
• Reviewed the local expat/TCN expenses and LN payroll for the country of assignment and obtained details of all expenses incurred by the company / business unit on a quarterly basis. Verified such details with the company policy and individual contractual arrangements and investigated anomalies or discrepancies when identified.
• Performed quarterly P&L, BS and cash management audit.
• Reviewed the procedures for evaluation and pricing of the new business opportunities. Ensured all costs are adequately covered, all potential risks and exposures are evaluated, and final cost sheets are complete and can be reconciled with the historic and current financial data. 
• Challenged, investigated, and provided analysis on Income Statement categories for the respective business units.
• Replaced the financial managers in Iraq and Afghanistan during their leave with the full range of their responsibilities (budgeting, financial reporting, cash control in country, cash forecast preparation, payroll, tax reporting, review of correct allocation by projects and expense codes for all expenditures);
• Performed data collection from current projects and prepared various management reports and analyses.
• Worked with the external audits from the ‘Big 4’ accounting firms and assisting with year-end audit preparations. 

Sep 2012 – Aug 2014: Senior Cost Controller 

               Lukoil Overseas (Operator of the West Qurna-2 oil and gas project in Iraq) Dubai, UAE

• Managed budget and expenditures (CAPEX & OPEX) of the Security Directorate. This involved budget preparation and presentation, variation (actual vs. budget) analysis and justification of deviations, if occurred.
• Prepared the annual and monthly cash flow forecasts as per the project requirements, regularly cash flow status update.
• Performed budget estimates for the bidding procedures announced by the Security Directorate.
• Performed verification of invoices against the contractual terms; developed and implemented the audit methodology for invoice verification of the service providers. 
•  Performed Quality Control, ensuring projects are controlled, monitored, and documented according to Company standards.
• Facilitating communication between and among Project-Managers, System Administrator, Document Controller, Finance and Accounting Departments regarding financial issues arising during the implementation of projects.
• Identified financial risks in the documents reviewed and informed the Economic Security and the Security Director accordingly.

Master of Business Administration

Moscow State Institute of International Relations (MGIMO), Russia

2006 – 2008

MBA program "International Oil and Gas Business"