Skills: Business Analyst, Financial Analyst, Modeling
Experience: 14 + Years
Education: Masters Degree
Location: Saudi Arabia
Aramco energizes the world economy.
Aramco occupies a unique position in the global energy industry. We are the world's largest producer of hydrocarbons (oil and gas), with the lowest upstream carbon intensity of any major producer.
With our significant investment in technology and infrastructure, we strive to maximize the value of the energy we produce for the world along with a commitment to enhance Aramco's value to society.
Headquartered in the Kingdom of Saudi Arabia, and with offices around the world, we combine market discipline with a generations' spanning view of the future, born of our nine decades experience as responsible stewards of the Kingdom's vast hydrocarbon resources. This responsibility has driven us to deliver significant societal and economic benefits to not just the Kingdom, but also to a vast number of communities, economies, and countries that rely on the vital and reliable energy that we supply.
We are one of the most profitable companies in the world, as well as amongst the top five global companies by market capitalization.
We are seeking an Economic Modeling Specialist to our Technology Strategy & Planning Department (TSPD), which is responsible for: developing Aramco's technology outlook and strategy, managing the technology portfolio and intellectual property (IP), supporting the Company's climate and sustainability initiatives, and ensuring the commercial viability of technologies through effective deployment planning. TSPD develops technology commercialization and related execution plans to help align Aramco's R&D investment with strategy and value-driven technology deployments that can position the Company with a sustainable competitive advantage, capitalizing on its business and sustainability R&D investments.
The Economic Modeling Specialist will play a key role in the rollout of enhanced technology management processes across the Company, with responsibility to support techno-economic evaluations and strategic decision-making processes in the technology organization. This vital role enables optimal value realization from technology by providing accurate, timely, and detailed analysis of economic, financial, and commercial data regarding technology development, demonstration, and deployment opportunities.
- Support strategic option analysis (e.g., make vs. buy, technology portfolio prioritization) via provision of cost-benefit assessments and analysis, as well as validation of economic and risk assumptions; and present findings and recommendations based on analysis to senior management.
- Analyze trends and market intelligence to support the development of business cases (and value hypothesis) for technology projects going through the corporate technology stage-gate process.
- Create financial models and establish the value of technologies for potential commercial applications in support of technology development, deployment and external licensing efforts.
- Support technology project teams in the development of a robust financial case for internally developed technologies, including techno-economic models for investment appraisal of technologies in the stage-gate process.
- Provide detailed financial and economic insights for evaluating technology project performance by analyzing relevant data against the technology scorecard KPIs.
- Support technology development, demonstration, internal deployment and external commercialization opportunities, including implementation of robust deployment plans. This includes tracking and accurately reporting the value realized from deployed technologies, as well as supporting internal and external reviews of the relevant financials.
- Provide input to help evaluate licensing opportunities to enable favorable license terms.
- Develop, manage and assure the quality of economic modelling tools used within TOC.
- Periodically review and improve financial models, maintain and update the repository of licenses and portfolio position on all approved technology/innovation applications.
- Work flexibly across technology and/or R&D domains as required.
- Share and transfer techno-economic evaluation fundamentals knowledge to increase financial acumen in the organization.
- Bachelor's degree in Economics, Econometrics, Engineering, Statistics, Business Administration, or a related discipline. An advanced degree (MBA/Finance) is highly preferred.
- Fifteen years of professional experience, including a minimum of: ten years in leading organizations in the energy or chemicals sector, and/or with leading management consulting firm(s); and five years' conducting incremental, cost-benefit/effectiveness and budget impact analyses using mathematical, economic or statistical modelling tools and techniques, such as decision tree analysis, Markov modelling, and/or discrete event simulations, including Monte Carlo simulations and real options, risk adjustment, and risk management.
- In-depth knowledge and understanding of one or more relevant core businesses (downstream refining, petrochemicals, midstream, and upstream) and emerging technologies related to corporate sustainability (circular carbon economy; CO2 capture, utilization and storage; nonmetallic materials; sustainable plastics; artificial intelligence; and industrial sensoring and monitoring).
- Ability to develop insights from market research to technology business case development; mastery in quantitative economic and financial analysis, portfolio modelling and technology valuation, including: incremental, risk-adjusted, cost-benefit, variance and scenario analyses, NPV, and sensitivity analysis, using a range of tools and applications (Microsoft Excel, SQL, SAS, R, MatLab, Tableau, and/or other VBA type software to analyze complex and large data sets, Planisware, or similar tools for portfolio and project management).
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Our high-performing employees are drawn by the challenging and rewarding professional, technical and industrial opportunities we offer, and are remunerated accordingly.
At Aramco, our people work on truly world-scale projects, supported by investment in capital and technology that is second to none. And because, as a global energy company, we are faced with addressing some of the world's biggest technical, logistical and environmental challenges, we invest heavily in talent development.
We have a proud history of educating and training our workforce over many decades. Employees at all levels are encouraged to improve their sector-specific knowledge and competencies through our workforce development programs - one of the largest in the world.