Chief Accountant
- Recruiter
- Confidential Company
- Location
- Dammam, Saudi Arabia
- Salary
- Competitive
- Posted
- 23 Dec 2018
- Closes
- 23 Dec 2018
- Ref
- 3852594
- Job role
- Accountant, Chief accountant
- Sector
- Retail and FMCG
Job Summary:
A large family-owned conglomerate based in Dammam has a vacancy for aChief Accountant position.
The Chief Accountant main role is to manage the accounting process and the core accounting functions of cash and banks reconciliations, receivables, payables, petty cash, fixed assets and others, as well as releasing monthly trial balance and monthly financial statements in timely and accurately manner.
Reports to: Group Financial Controller (GFC)
Supervises: General Accountants
Key Roles & Responsibilities:
1- Operations Management
• Manage the daily operations of the Accounting section to ensure that work processes are implemented as designed and comply with established policies and procedures
• Manage and maintain proper internal control over all the accounting sections’ processes in coordination with the Finance Processes and Control Manager
• Any other corporate finance assignment provided by GFC according to core business needs
2- Reporting
• Manage with the Group Financial Analyst the preparation, reviewing and submission of precise and well-timed annual financial statements to external auditors to ensure compliance with governmental regulations.
• Manage the preparation of monthly financial statements to Group Financial Analyst by the 12th of each month.
• Monitor the issuance for sub ledger reports and ensure their accuracy and compliance with the general ledger through approving monthly reconciliation between sub ledger and general ledger
3- Cash and Banks:
• Monitor the Company’s bank accounts on daily basis.
• Monitor cashier accounts to ensure daily clearance with minimal pending transactions.
• Review, verify and approve monthly bank reconciliations to ensure their correctness and avoid long pending transactions
4- Accounts Receivable
• Monitor the prepayments and charge the expense on monthly basis
• Review the related parties’ balances and send formal balance confirmation request on monthly basis then follow up to reconcile all pending items.
5- Accounts Payable
• Direct the accounts payable to ensure timely payments to all suppliers to maintain the Company’s image and reputation
• Monitor vendor payments ensuring compliance with finance policies and procedures, completeness of payments supporting documents and required approvals as per the authority matrix
• Review accrued expenses, VAT and Zakat to ensure data accuracy and reliability
6- General Ledger
• Review monthly trial balance to issue monthly financial statements in compliance with applicable accounting standards in Saudi Arabia
7- Investments
• Review with Group Financial Controller & Group Financial Analyst all entries relating to Investments in subsidiaries.
8- Fixed Assets
• Review the Asset Register to ensure that all fixed assets are within fixed asset policy
• Monitor the monthly closing of fixed asset system requirement
• Monitor the fixed assets register with proper categories, classifications and proper tagging to ensure applying the proper internal controls and their compliance with the general ledger
• Monitor fixed assets additions and disposals for all branches and ensure implementing related policies and procedures with the required approvals as authority matrix
9- People Management
• Manage the activities and work of subordinates and evaluate their performance by providing formal and informal feedback to ensure that all work within a specific area is carried out in an efficient manner and in accordance with set individual targets
• Stimulate subordinates and manage the identification of opportunities for continuous improvement of systems, processes and practices taking into account ‘international best practice’, improvement of business processes, cost reduction and productivity improvement
10- Policies, Processes and Procedures
• Recommend improvements to the Group policies and direct the implementation of procedures and controls covering all areas of financial planning and reporting activity so that all relevant procedural / regulatory requirements are fulfilled while delivering a quality, cost-effective services
11- Safety, Quality and Environment
• Ensure compliance to all relevant safety, quality and environmental policies, procedures and controls across the section in order to guarantee employee safety and compliance with regulation
A large family-owned conglomerate based in Dammam has a vacancy for aChief Accountant position.
The Chief Accountant main role is to manage the accounting process and the core accounting functions of cash and banks reconciliations, receivables, payables, petty cash, fixed assets and others, as well as releasing monthly trial balance and monthly financial statements in timely and accurately manner.
Reports to: Group Financial Controller (GFC)
Supervises: General Accountants
Key Roles & Responsibilities:
1- Operations Management
• Manage the daily operations of the Accounting section to ensure that work processes are implemented as designed and comply with established policies and procedures
• Manage and maintain proper internal control over all the accounting sections’ processes in coordination with the Finance Processes and Control Manager
• Any other corporate finance assignment provided by GFC according to core business needs
2- Reporting
• Manage with the Group Financial Analyst the preparation, reviewing and submission of precise and well-timed annual financial statements to external auditors to ensure compliance with governmental regulations.
• Manage the preparation of monthly financial statements to Group Financial Analyst by the 12th of each month.
• Monitor the issuance for sub ledger reports and ensure their accuracy and compliance with the general ledger through approving monthly reconciliation between sub ledger and general ledger
3- Cash and Banks:
• Monitor the Company’s bank accounts on daily basis.
• Monitor cashier accounts to ensure daily clearance with minimal pending transactions.
• Review, verify and approve monthly bank reconciliations to ensure their correctness and avoid long pending transactions
4- Accounts Receivable
• Monitor the prepayments and charge the expense on monthly basis
• Review the related parties’ balances and send formal balance confirmation request on monthly basis then follow up to reconcile all pending items.
5- Accounts Payable
• Direct the accounts payable to ensure timely payments to all suppliers to maintain the Company’s image and reputation
• Monitor vendor payments ensuring compliance with finance policies and procedures, completeness of payments supporting documents and required approvals as per the authority matrix
• Review accrued expenses, VAT and Zakat to ensure data accuracy and reliability
6- General Ledger
• Review monthly trial balance to issue monthly financial statements in compliance with applicable accounting standards in Saudi Arabia
7- Investments
• Review with Group Financial Controller & Group Financial Analyst all entries relating to Investments in subsidiaries.
8- Fixed Assets
• Review the Asset Register to ensure that all fixed assets are within fixed asset policy
• Monitor the monthly closing of fixed asset system requirement
• Monitor the fixed assets register with proper categories, classifications and proper tagging to ensure applying the proper internal controls and their compliance with the general ledger
• Monitor fixed assets additions and disposals for all branches and ensure implementing related policies and procedures with the required approvals as authority matrix
9- People Management
• Manage the activities and work of subordinates and evaluate their performance by providing formal and informal feedback to ensure that all work within a specific area is carried out in an efficient manner and in accordance with set individual targets
• Stimulate subordinates and manage the identification of opportunities for continuous improvement of systems, processes and practices taking into account ‘international best practice’, improvement of business processes, cost reduction and productivity improvement
10- Policies, Processes and Procedures
• Recommend improvements to the Group policies and direct the implementation of procedures and controls covering all areas of financial planning and reporting activity so that all relevant procedural / regulatory requirements are fulfilled while delivering a quality, cost-effective services
11- Safety, Quality and Environment
• Ensure compliance to all relevant safety, quality and environmental policies, procedures and controls across the section in order to guarantee employee safety and compliance with regulation
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