Business Analyst / Finance Separation Support – Diamonds recruitment
Activities span the world but are strongly represented in Australia and North America with businesses in South America, Asia, Europe and Southern Africa. For more information, please visit www.riotinto.com.
Rio Tinto has begun a strategic review of its diamond business that will include exploring a range of options for potential divestment of its diamond interests.
Rio Tinto operates three diamond mines, Argyle in Australia (100 per cent interest), Diavik in Canada (60 per cent interest), and Murowa in Zimbabwe (78 per cent interest), as well as Bunder, an advanced diamonds project in India (100 per cent interest).
Primary Purpose
- Support to the Diamonds Finance and Commercial manager in all aspects of his/her role. Support to the Diamonds business development analyst in his role on the strategic review and separation project, in particular providing information and analysis for investment banks.
The separation project can be divided into three main areas for the finance team:
- Design and implementation of a separate and fit for purpose financial and commercial function that would be required in the event of a final separation, for example through an IPO.
- Identification of entity level structuring opportunities and resolution of issues working with Rio Tinto Group functional specialists (tax, treasury and Controllers)
- Liaising with and managing the delivery of financial information to key stakeholders in the transaction including Rio Tinto Business Development, Investment Banks, reporting accountants and lawyers.
Responsibilities
- Support the Finance and Commercial manager in the delivery of the separation of a commercial finance function including management reporting, external reporting, procurement, tax, treasury and finance activities that are currently performed by shared services.
- Input into the design, streamlining and simplification of management reports including KPI's, variance analyses and planning/forecasting processes that are fit for the stand alone Diamonds business
- Evaluate the impact of separation on the business cost base and optimise
- Support the review of new contracts that are in place for business continuity and help ensure that cost savings, where applicable, are being delivered
- Support the design of robust financial reporting controls for any exit scenario including an IPO
- Review accounting policies and procedures and make recommendations as to their design for the stand-alone business
- Support the coordination of the external audit of carve-out accounts and other reports required from the reporting accountant
- Support the production of carve-out financial statements, forecasts, pro forma and other financial deliverables for the Information Memorandum, IPO prospectus and other related documents as required
- Liaise with tax, treasury, accounting Group specialists to optimise the structure of the new Diamonds business and resolve 'carve out' structuring issues
- Support with financial modelling for valuation purposes, verification of site submissions for material errors
- Prepare financial information and valuations for Rio Tinto BD and investment banks as required
- Participate in due diligence work as and when required
- Review of investor documents: teaser, information memorandum, investor presentation and IPO prospectus and other regulatory submissions
- Provide Analytical support for Business Units and other groups as required
- Maintain and update industry supply model for material change
Education Qualifications
- Tertiary qualification preferable in finance or in Engineering
- Post Graduate qualifications in Business are beneficial
- Working knowledge of IFRS and financial reporting controls an advantage
- Legal or business qualifications highly advantageous
- High level of spread sheet proficiency
- Cost control software knowledge
This position is based in London (local contract, not expatriate)