Finance Director

Location
Duwadami, Muqat'ah ash Shamaliyah, Saudi Arabia
Salary
Competitive
Posted
11 Mar 2019
Closes
11 Mar 2019
Ref
5625997
Job role
Finance director
The Role

The role of the Finance Director/Head of Finance is to plan, coordinate and control the finance activities of the entity, including, accounting records and financial reports with regards to performance accounting, cash management and internal control systems, financial planning and management reporting, and effective insurance coverage of the company's assets in line with the company's standards and procedures.

Principal Duties & Responsibilities:
  • Oversees the accounting function and develop detailed accounting procedures of the group and ensures that these are properly rolled out across the group
  • Develops and owns the chart of accounts and ensures these are rolled out with appropriate training across the group. Owns and leads any changes to the chart of accounts
  • Leads the understanding and implementation of the current year GAAP changes and keeps abreast of SOCPA requirements
  • Ensures timely and accurate compliance with the requirements of the group statutory financial reporting, in line with local reporting requirements
  • Leads the preparation of the annual, quarterly and monthly financial reports and ensures that annual financial accounts are produced, signed off and filed for each legal entity, consistent with SOCPA requirements
  • Leads the monthly and quarterly closing process to ensure proper financial closing to underpin the financial reports and the MI reports on a consistent basis
  • Support in organizing and maintaining the company at the highest level of financial control and audit standards
  • Leads the liaison and negotiations with the external auditors on audit work plans, timetables, resourcing and fees
  • Has overall accountability for the integrity of the group balance sheet and income statement and for ensuring that there are appropriate control processes in place that these are complied with in respect of each ledger account, including reconciliation, validation and physical verification processes to support the existence and completeness of accounts and balances
  • Monitoring the inventory costing activities and transactions
  • Overseeing capex and asset management activities
  • Supervising the payroll accounting activities, and ensuring their completion in an accurate and timely manner
  • Overseeing the AP and AR financial activities and transactions and ensuring their completion in an accurate and timely manner
  • Maintains the delegation of authority matrix, bank signatory matrix and procedures for the group, ensuring this is regularly kept up to date and is communicated appropriately across the company
  • Testing internal control systems to ensure accuracy and adequate of accounting records and documentations, including appropriate procedures, manuals, and standard practice instructions
  • Ensure compliance with all laws and regulations affecting the company, and with local regulations issued by government
  • Monitors for compliance with FCPA and for the Anti-Bribery and Anti-Corruption requirements of the countries of operation
  • Oversee and supervise the overall tax and zakat strategy, tax and zakat planning and other relevant issues to optimize tax and zakat across the group and by legal entity
  • Oversee to ensure compliance with all regulations in relation to Zakat and accurate completion of all returns and filings with DZIT and any other regulatory body
  • Reviews the group structure and recommends short and long term changes to optimize tax position
  • Oversee the planning for the tax efficient repatriation of funds and optimization of withholding taxes and other taxes
  • Reviews withholding taxes in relation to debt service payments pursuant to the acquisition finance facility
  • Monitoring changes in zakat/tax regulations and practice
  • Advise of optimization of inter-company loans, interest and management fees within subsidiary
  • Oversee and supervise the treasury strategy and undertakes treasury planning to optimize treasury across the group
  • Oversee the group's day to day treasury function, cash management, bank accounts, hedging strategy and executive and intra-group financing arrangements. Provides oversight and approval of group bank accounts, petty cash, cash collection cycle at each store, supplier and expense payments, payroll, sales receivables collection
  • Oversee and supervise working capital insights and forecasting
  • Supports the CEO and CFO in new debt financing initiatives

Candidate
  • A qualified accountant with relevant post qualifying experience, ideally in the retail segment
  • Strong technical experience in public company accounting
  • Previous experience of working in Saudi Arabia
  • Good communication and managerial skills
  • Ideally, big accounting firm experience at a senior level and having previously worked on audit engagements
  • At least 8 years plus experience of working as a financial controller or equivalent position
  • Ability to work well under pressure with tight deadlines whilst delivering high quality and output

The Company

A leading services company is looking to recruit a Finance Director.

Salary

Up to 60,000SAR per month