Key Duties and Responsibilities

• Preparing and coordinating annual schedules for General Assembly meetings to approve the financial statements and annual budgets of subsidiary companies.
• Supervising and participating in Ordinary and Extraordinary General Assembly meetings of subsidiary companies; arranging invitations for members, independent auditors, statutory inspectors, relevant officials, and experts; preparing meeting minutes; and communicating approved resolutions to the relevant companies and departments.
• Monitoring and following up on the implementation of General Assembly resolutions and assigned obligations within specified deadlines, and reporting progress to the relevant authorities.
• Reviewing and analyzing annual financial statements, Board of Directors’ reports, and reports of independent auditors and statutory inspectors, and providing expert opinions to the Chairperson and members of the General Assemblies.
• Examining auditors’ and statutory inspectors’ reports on annual financial statements and company performance, and preparing proposals regarding incentive payments and rewards for Board members and employees of subsidiary companies.
• Providing advisory services to subsidiary companies regarding the conversion of private joint-stock companies into public joint-stock companies for stock exchange listing, as well as advising on financial, tax, legal, commercial, and corporate governance matters.
• Reviewing and assisting in the preparation of proposed budgets for NIORDC and its subsidiaries in accordance with General Assembly policies and applicable laws and regulations.
• Utilizing expert assessments and internal audit findings to strengthen internal control systems within subsidiary companies and maintaining professional coordination and information exchange with subsidiary companies’ internal auditors to protect shareholders’ rights.
• Reviewing and proposing policies related to statutory deductions and obligations, including insurance premiums, customs duties, municipal charges, apprenticeship funds, social security contributions, and other related matters affecting subsidiary companies.
• Supervising the preparation and calculation of production costs, net asset values, attributable income, earnings per share, and market share prices of companies listed on the stock exchange.
• Obtaining and analyzing periodic financial, managerial, and technical project reports from subsidiary companies; determining financial performance indicators; benchmarking against established standards; and submitting analytical reports to the Chairman of the Board of Directors of NIORDC.
• Supervising the implementation of financial systems and procedures and cooperating with the Financial Affairs Department in developing financial instructions and establishing appropriate computerized systems.
• Reviewing Board of Directors’ meeting minutes of subsidiary and affiliated companies and assessing their compliance with applicable laws, regulations, by-laws, and executive directives, including procurement laws, the Commercial Code, Public Accounting Law, Direct Taxation Law, development plan regulations, Budget Law, and other relevant legislation.
• Maintaining and updating records of Board members of subsidiary companies based on General Assembly resolutions and proposing extensions of Board memberships for approval by the General Assembly.
• Reviewing and submitting recommendations to the General Assembly regarding capital increases and amendments to the Articles of Association of subsidiary companies.
• Managing activities related to partnerships and joint ventures between NIORDC, its subsidiaries, and domestic or international entities, and assisting in the establishment of new subsidiary and affiliated companies.
• Supervising the preparation of Articles of Association for newly established companies and monitoring amendments to existing Articles of Association.
• Managing matters related to the privatization of eligible subsidiary companies, including preparing company lists, compiling required documentation for the Privatization Organization, reviewing financial statements, providing recommendations to shareholders’ General Assemblies, and assisting in determining base share values and reporting to the Ministry of Petroleum.
• Monitoring the shareholding status of subsidiary companies to facilitate timely stock market offerings in accordance with policies approved by the Chairman of the Board of Directors of NIORDC and the General Assemblies of subsidiary companies.
• Studying and evaluating financing opportunities from domestic and international resources to secure required funding for subsidiary companies and assessing the efficiency and returns of utilized financial facilities.
• Reviewing and analyzing the returns on investments made by NIORDC and its subsidiaries in other companies and institutions, considering relevant economic indicators.
• Obtaining periodic financial and management reports from affiliated companies, providing expert evaluations, participating in their General Assembly meetings, and reporting findings to the Chairman of the Board.
• Monitoring expenditures and budget implementation in subsidiary companies to ensure compliance with NIORDC’s strategic policies and plans, identifying budget variances, analyzing their causes, and proposing corrective actions.
• Preparing and submitting reports, statistics, and information regarding subsidiary companies as requested by supervisory and governmental authorities, including the Supreme Audit Court, the State Inspectorate Organization, and the Ministry of Economic Affairs and Finance.