Finance & Accounting Manager

Job description / Role

The purpose of the role is to ensure funds & costs are managed in such a manner as to maximize return on investment while minimizing risk, and while also ensuring that an adequate control structure is in place over the transfer and investment of funds.

Moreover, the financial manager as well to engages in financial analysis in such areas as forecasting, budgeting, cost reduction analysis, and reviewing operational performance.

Principal Accountabilities:

Management:
- Maintain a documented system of accounting policies and procedures.
- Manage outsourced functions.
- Oversee the operations of the finance & accounting department, including the design of an organizational structure adequate for achieving the department's goals and objectives.
- Leadership & coaching as well as mentoring for direct report staff
- ensure performance management agenda is met and realized for all human capital under the department.

Funds Management:
- Forecast cash flow positions, related borrowing needs, and available funds for investment.
- Ensure that sufficient funds are available to meet ongoing operational and capital investment requirements.
- Use hedging to mitigate financial risks related to the interest rates on the company's borrowings, as well as on its foreign exchange positions.
- Maintain banking relationships
- Assist in determining the company's proper capital structure
- Arrange for equity and debt financing
- Invest funds
- Recommend appropriate dividend issuances, based on historical dividend patterns and expected cash flows

Budgeting
- Manage the preparation of the company's budget

Report to management on variances from the established budget, and the reasons for those variances
- Assist management in the formulation of its overall strategic direction

Financial Analysis
- Engage in ongoing cost reduction analyses in all areas of the company
- Review the performance of competitors and report on key issues to management
- Engage in benchmarking studies to establish areas of potential operational improvement
- Interpret the company's financial results to management and recommend improvement activities
- Review company bottlenecks and recommend changes to improve the overall level of company throughput
- Participate in target costing activities to create products that meeting predetermined price goals
- Assist in the determination of product pricing in relation to features offered and competitor pricing
- Compile key business metrics and report on them to management
- Manage the capital budgeting process, based on constraint analysis and discounted cash flow analysis
- Create additional analyses and reports as requested by management

Additional Accountabilities:
- Oversee the extension of credit to customers

Requirements

- Bachelor's degree in finance or accounting, or equivalent business experience and 10+ years of progressively responsible experience for a major company or division of a large corporation.

Preference will be given to candidates with the Certified Public Accountant or Certified Management Accountant designations.

Skills:
- Excellent communication skills are essential, particularly in regard to presenting the results of analyses to management.
- Should have an outstanding knowledge of electronic spreadsheets.
- Fluent in English (writing and Speaking)
- Fluent in Arabic (writing and Speaking)

About the Company

Nashar Trading Company was established in 1941 by Sheikh Mohammad Ebrahim Nashar as a sole Trading Establishment. Its Commercial Register (97) is evidence that it is one of the oldest trading houses in the Kingdom.

In the beginning it imported commodities such as rice, flour, wheat, sugar, coffee and cardamom. In the late fifties it started importing and selling tinned food products such as tomato paste, milk powder, evaporated milk, cream and ghee.

When the founder passed away in 1971 the company was constituted as a Mixed Liability company under Saudi Companies Law. Since then the company has grown to become one of the leading importing, distribution and meat manufacturing companies, marketing its own brands plus a select portfolio of international brands.