Shu Fang Tan

Finance analyst supporting Shell Malaysia’s upstream exploration portfolio. Primary responsibilities include business planning, cost performance appraisal, and financial compliance in alignment with Production Sharing Contracts (PSC) and Joint Operating Agreements (JOA) to maximize cost recovery. Key contributor to strategic decisions in collaboration with exploration managers, subsurface teams, and commercial advisors.

Key Achievements:

• Spearheaded the implementation of a finance resource pooling model to accommodate significant exploration growth (7 new PSCs & JOAs in 2022–2023), ensuring efficient workload distribution and maintaining team well-being.
• Operationalized two new PSCs (Deepwater Block 3B in 2023 and Block 5E in 2024), overseeing JV setups including WBS creation, farm-in payments, and new bank account activation.
• Delivered clean audit outcomes for the first PSEP JV audit on MLNGx PSC (FY2021–2022), closing all auditor Information Requests (IRs) on time and with zero findings.
• Led planning cycles including WP&B submissions to PETRONAS MPM, Shell’s Operating Plans, and quarterly Latest Estimates with timely and data-driven insights.

Cost planner supporting Shell Sarawak Berhad (SSB), with primary responsibility for business planning, performance appraisal, and strategic financial support. Focused on total cost control, forecast accuracy, and alignment with Shell’s corporate strategy and PSC governance.

Key Achievements:

• Successfully migrated APPR Opex Reporting scope from Business Finance to FO, delivering first-time-right reporting for ARPR 2022 covering ~RM922 million in total operating costs (Nov 2021 – Oct 2022).
• Conducted critical cost analysis with fair assumptions and robust rationale, documented in a structured format to ensure reporting sustainability and auditability.
• Delivered reliable Monthly Appraisal (MA) and Latest Estimates (LE) through structured variance analysis and consistent audit trails.
• Coordinated and delivered annual Operating Plan (OP) and quarterly LE submissions, aligning with Shell’s strategic direction and stakeholder expectations.

Finance analyst specializing in fixed asset accounting, lease management, and Decommissioning & Restoration (D&R) activities. Served as an advisor to Finance Managers and Country Controllers on complex accounting treatments and non-routine asset-related events.

Key Achievements:

• Appointed as Fixed Asset Superuser, providing first-line advisory support on system functionality and accounting governance across the SEHAL business.
• Led the tax depreciation project (2021 CFO & EVP Award nominee), saving 60 hours annually and accelerating capital allowance by USD 8 million.
• Supported automation of AUC input collection and exploration cost tracking via webform design, improving audit trails and reducing manual workload.
• Improved AUC ageing by completing major clean-ups for North West Shelf (NWS) and Gorgon assets.
• Played a key role in the LSR process migration to FOKL, supporting statutory adjustments, asset schedules, and financial disclosure preparation—recognized with 2022 EVP Award nomination under Operational Excellence.
• Participated in user acceptance testing for reserves interface automation, ensuring a successful system go-live in May 2022.
• Co-led SMOG and reserves sharing initiatives with the global Reporting & Analysis (R&A) community.

Supported fixed asset core processes, including lease accounting and Decommissioning & Restoration (D&R) activities. Responsible for executing key month-end system processes and delivering analytical reviews of P&L-related balances to ensure financial integrity.

Key Achievements:

• Led the successful transition of manual journal entries (MJEs) for fixed assets from SAP to Blackline, streamlining approval and posting workflows.
• Acted as SPS focal point for SEHAL, enhancing team collaboration and contributing to a top quartile SPS 2020 engagement score.
• Represented the fixed asset team in Shell Internal Audit (SIA) walkthroughs during the 2019 SEHAL audit, securing a “Good” audit rating through thorough documentation and process articulation.
• Co-led the NWS Depreciation CI project, identifying key tagging discrepancies that corrected a USD 15 million overstatement and saved 7 hours monthly in manual review time.
• Executed core monthly finance processes including capex settlement, depreciation, amortization, and accretion on D&R liabilities with minimal errors and strong control adherence.

Supported the planning, execution, and delivery of statutory audit engagements across multiple industries. Performed risk assessments, control testing, and financial statement verification to ensure compliance with IFRS/MFRS and regulatory standards.

Key Responsibilities:

• Conducted risk-based scoping and financial statement analysis to identify material areas for audit.
• Performed process walkthroughs and tests of controls to evaluate the design and operating effectiveness of internal controls.
• Executed substantive testing procedures to validate account balances and transactions.
• Prepared key deliverables including audit reports, management letters, and recommendations for control improvements.
• Liaised with client management to communicate findings, propose adjustments, and resolve audit issues.

Key Achievements:

• Independently executed full audit cycle for an active IT services company, including planning, testing, and reporting.
• Leveraged EY Helix data analytics tools to streamline audit testing, reducing turnaround time and enhancing testing precision.
• Successfully completed a group audit of over 10 entities under strict deadlines, ensuring timely consolidation and adherence to all applicable standards.