Finance Director

Job description / Role

Finance Director has the overall responsibility to lead the finance functions of the company with emphasis on strategic planning, governance, control, risk management, working capital optimization, management accounting and bottom line performance. Finance Director is responsible for the preparation and presentation of SSPs consolidated financial statements and budgets in accordance with the set objectives, policies and procedures, international accounting standards and local regulations.

Responsible for:

Strategic Management
- Work closely with the CEO to formulate the financial strategies, policies and objectives; and develop short and long term plans to accomplish these objectives.
- Ensure effective performance and risk management to enable the company and its affiliates to achieve long term sustained profitability.
- Evaluate the companys capital plans to ensure that capital expenditures are in line with the companys objectives.

Performance Management (Budgeting and Cost Control)
- Work with the management team on the development of cost structures and operating annual budgets for the company.
- Continually improves the budgeting process through education of department managers on financial issues impacting their budgets.
- Monitor and control the budgets and costs on a consistent basis and improve the financial performance of the company and its affiliates by measuring and analyzing the results; initiating corrective actions and minimizing the impact of variances.

Financial Reporting
- Oversee and participate in the bookkeeping functions and the preparation of monthly reports, financial statements and cash flow projections.
- To ensure that accurate and timely financial reports are produced in line with IFRS and CMA and other related requirements.
- To ensure fruitful cooperation with the external and internal auditors, with a view to meet all regulatory requirements and deadlines.
- Present reports on the company's performance, projection and industry trends to the board, senior management and the potential investors.

Zakat & Income Tax
- Keep up-to-date and ensure full compliance with zakat, income tax and other relevant laws.

Internal Control System
- Develop and implement a robust internal control system for the company.
- Lead the development and implementation of accounting and operational policies and procedures to govern the companys processes.

Treasury
- Develop a reliable cash flow projection process and reporting mechanism to meet operating needs of the company.
- Cultivate relationship with the local and regional financial institutions to attract funds for the company's working capital and capex requirements at competitive terms.
- Liaise with current/potential investors like external funds & portfolio managers and conduct road shows on regular basis to ensure that SSP is well presented.
- Ensure loan terms/covenants are fully adhered to.

Human Resource
- Staff the finance department with adequate and skilled resources to meet overall finance and accounting needs of the company.
- Develop and execute staff succession and career plans including building a strong local staff base.
- Ability to attract, manage, motivate, mentor, and retain finance personnel.
- Strong change management skills.

Relationships
- Establish and manage relationships with internal stakeholders (board, senior management, functional managers, internal auditors and affiliates) and external stakeholders (external auditors, banks and legal authorities).

Others
- Finance Directors responsibilities will not be limited to the above and he would be assigned other duties and tasks by the executive management.

Requirements

- Bachelor's degree in accounting or finance from a recognized and reputable university.
- Professional certificate from a recognized accounting institute (Certified Public Accountant / Chartered Accountant).
- 10-15 years of post-qualification experience including minimum 5 years in a senior finance role with an industrial manufacturing and public listed company.
- Worked in an ERP system environment Oracle / SAP / Other.
- Working knowledge of zakat and income tax laws and CMA and other related regulations.
- Adequate knowledge of capital expenditures analysis.
- Audit and financial reporting (IFRS) experience.
- At least 35 years of age.

Preferred
- Master's degree (MBA Finance) from a recognized and reputable university.
- Professional certificate (Certified Management Accountant).

Competencies:
- Risk analysis, reasoning and problem solving skills.
- Must be a professional of unquestionable integrity, credibility and character.
- Proficiency in English (and the proficiency in Arabic language will be an advantage).
- Strong interpersonal skills such as leadership, communication, persuasion, motivation, with an ability to win the respect and trust of colleagues and other stakeholders.

About the Company

Saudi Steel Pipe Company (SSP) is considered among the leading Saudi companies in the field of welded steel pipes industry since its foundation in 1980. The company has been known as the first manufacturer for steel pipes in the Kingdom and the largest producer of welded steel pipes manufactured by high-frequency induction welding to serve multiple uses that meet the needs of the oil and gas, water and construction sectors in the region and other markets.

The current yearly production capacity of the company is 240,000 metric tons of steel pipes, that are produced by 4 production lines, with sizes ranging from (1/2 - 20) inches. The company also owns a factory for hot induction bending pipes which is considered the largest in the area, where the hot induction bends are produced in various diameters ranging from (2-48) inch to a thickness up to 50 mm.

The adherence to quality appears in the investment in the state of art technologies, which enable the electronic control of all production stages which enables the operator to control all critical production variables during the production, this contentious electronic control system is a sole element in certifying the products of the company by major oil & gas companies.