Finance advisory services

Helping oil and gas companies with Finance functions

PwC’s Finance Advisory services supports our clients with structuring their finance functions such that they drive real, demonstrable value for the business in a controlled and efficient manner. This process entails that:

  • All the low added-value activities are standardised and delivered at lowest cost through efficient shared service structures
  • Finance in the Embedded Businesses (i.e. so called 'retained finance teams') is focused on maximising business support
  • Finance is a chosen place to work by staff (i.e. people really want to be a part of Finance)
  • Data and systems are standardised, automated and provide a robust control framework
  • Finance operates to a top quartile level by comparison to peer organisations

We have a global community of experienced Finance professionals who provide a wide range of Finance operational, risk and functional advisory services to our oil and gas clients.

PwC can help

Below is a brief Summary of our Services to support our clients achieve these goals:

Finance Operating Model – Defining the optimal model for a Finance function to support a business operation – this can be Group wide or specific to Upstream, Trading or Downstream activities:

  • Benchmarking the current Finance Operating Model (Organisation, Governance, People, Processes, Data, Systems, Controls)
  • Developing principles for structuring Finance to deliver the Business Strategy, by reference to 'world class standards'
  • Defining a Target Operating Model and a Roadmap for change for each aspect of the Model
  • Supporting the Finance change programme
  • Tracking and delivering Benefits from the change
  • 'Finance' typically includes: Reporting, Control, Transaction Management (AP/AR), Treasury, Tax, Business Partnering

Enhancing Enterprise Performance Management (EPM) standards:

  • Planning and Budgeting -covering capital project planning and operational planning
  • Financial Reporting, including Smart Close/Month end reporting
  • Statutory and Tax Reporting
  • This work typically involves designing new KPI/Reporting and Data structures, defining an information architecture to deliver the Reporting requirements, Selecting and implementing systems to support the new standards
  • We have worked with oil and gas businesses across the globe on each of these aspects of this work

Finance Organisation – Embedded Finance/Shared Services and Outsourcing:

  • Benchmarking to assess “As Is” and opportunities for change based on 'world class standards’ and what is appropriate for the Company
  • Feasibility studies to assess options for activity, systems and people re-location across Embedded/Shared Service/Outsourcing; incorporating benefits assessment; defining the 'Target Organisation'
  • Implementing Lean Finance standards into the 'target organisation’, incorporating Behavioural Change and embedding Continuous Improvement
  • Setting up/enhancing the Shared Services structure to take on more activity from the Business: Location assessment, Hiring, Facilities, etc.
  • Defining the transition approach and supporting the migration to the new organisation
  • Focusing on driving benefits by improving the skills of the 'retained' Finance teams in the BU's to become Business Partners
  • We have conducted a significant amount of this work for oil and gas clients. Finance change is typically part of a multi-function reorganisation programme , with HR, IT, Procurement and Legal often being assessed in parallel.

Treasury:

  • Assessing risk profiles and developing policies for management of each risk category, including liquidity, counterparty, market risk, and credit
  • Developing Treasury Procedures and Controls
  • Selecting and implementing treasury, payment and banking systems which are often aligned to Shared Service programmes
  • Evaluating and setting up banking structures
  • Developing cash flow reporting and treasury reporting processes and implementing new standards
  • Recruiting and training treasury staff into new roles
  • We have been selected as the No 1 Treasury Consulting firm by Treasury Management International for 11 years running; we have a very strong Treasury Consulting capability

Finance People:

  • Development of Finance-wide People Strategy (3-5 years)
  • Definition of Finance 'Job Family' structures to support different aspects of Finance work
  • Development of 'attraction' programmes to hire the best and the brightest
  • Hiring, Training, Development and retention policies
  • Reward standards for Finance staff
  • Development and running Finance Training programmes