RACHEL AKHUETIE (FCA)
Executive Director, Finance, Commercial and Services
Rachel is a highly driven multi-skilled professional with over 20 years of extensive experience in Accounting & Finance, Oil & Gas Commercial, Human Resource Management and Organizational Strategy. She has had her working career with UBA Capital & Trust; an Asset Management Company, Century Media Ltd and GoodWorks International LLC before joining SunTrust Oil Company Nigeria Limited where she currently serves as the General Manager, Finance & Business Development.
Rachel has worked in the oil & gas industry for over 17 years, functioning in various capacities and roles ranging from an Accounts Associate, Finance Manager, Head of Finance & Service, through several positions to a General Manager Finance & Business Strategy. In addition to her commercial, financial, business development & risk management role, she plays a major role in the organizational management and works directly with the Chief Executive Officer to provide strategic direction for SunTrust Oil.
Rachel is a graduate of Accounting with an MBA in International Business Management. She is a Chartered Accountant and a Fellow (FCA) of the Institute of Chartered Accountants of Nigeria (ICAN). Rachel graduated from Harvard Business School, Boston USA (HBS), having completed the HBS Advance Management Program. She is also an Alumnus of Stanford Graduate School of Business, California USA, where she obtained a certificate on Executive Program for Growing Companies. She is a Certified International Financial Reporting Standards Specialist (CIFRSS) and a Certified Risk & Compliance Management Professional (CRCMP) obtained from IARCP, USA. She is also an Alumnus of the International Human Resources Development Corporation (IHRDC), Boston, USA where she obtained a certificate in Financial Modeling and Petroleum Project Economics.
Her current role at SunTrust Oil includes the management of the Finance and Commercial departments. Rachel works proactively with the SunTrust JV Partner to review cost of production and implement strategies to produce crude at most possible minimum cost; improve project management process and budgetary controls to avoid cost overrun; develop a clearly defined and ring-fenced cost structure for projects/subsidiaries/assets. Rachel manages SunTrust Oil’s financial portfolio, liaises with banks and other financial institutions to structure and restructure loan facilities/portfolio to ease interest and principal repayment and improve cash flow. She is also responsible for corporate tax management and implementation of an effective tax management strategy by ensuring tax efficiency of all transaction vehicles, prompt filing of tax returns (PPT, CITA) and ensures total compliance with all tax regulations. She ensures timely implementation of action plans from various audits and reviews and fosters a risk and controls conscious business environment.