CFO

NTS Group

Riyadh, Saudi Arabia

Posted
Ref: NP829-404

Job description / Role

Employment: Full Time

NTS Group is working with a leading family Medical business who are looking to recruit a Chief Financial Officer.

The CFO is responsible to lead the development and implementation of the strategic and operational objectives of the finance function, responsible for annual planning, fiscal forecasting, analysis, budget preparation for the entity, while directly monitoring the overall financial performance and reporting financial performance. Identify opportunities for improvement and lead financial decision making across the company in order to optimise financial performance.

Key Responsibilities

• Lead to the development and refinement of the company's financial strategy, margin maintenance strategy, and expense control strategy ensure that operations plans are developed and implemented in line with the vision, mission and corporate objectives.
• Ensure that the strategy is translated into operational business plans for the finance department and monitor the performance and execution of those plans with different business heads in order to achieve functional objectives and deliver the company's strategy.
• Asses all-new strategic investment, prepare due diligence and feasibility studies in order to facilitate investment decision.
• Build and lead a motivated, engaged and competent team throughout the finance department, by setting priorities and objectives, managing performance, and providing ongoing feedback and coaching to meet the organisational unit's challenges and goals.
• Serve as a role model to ensure employees' awareness and commitment to the vision, mission, values, fundamentals and corporate strategy to establish a highly engaged and motivated human resources, and continuously improve performance
• Prepare financial plans and budget for corporate and functional budget while monitoring actual expenditure against the approved budget so that the business is aware of anticipated costs/revenue and unsatisfactory performance areas are identified and rectified promptly to optimise financial performance.
• Manage revenue streams (cash-flow and liquidity) to meet on-time payments and mitigate the risk of illiquidity.
• Manage the cash conversion cycle, follow up on all cash receivable and work on enhancing finance policies and procedures in order to minimise the cash conversion cycle and ensure liquidity.
• Negotiate loans facilities ( LG, LC, Bid Bonds, etc.) with major banks and financial institution to ensure liquidity and project financing and work on minimizing the cost of borrowings in order to enhance the profitability.
• Define precise financial targets from visions, strategies and programs with different business heads and allocate the required financial resources and cost limitations in order to achieve it.
• Work closely with business heads on setting and negotiating the payments terms with major suppliers; ensure that proper financial practices are being used and applied to ensure financial equilibrium.
• Negotiate new business deals with new customers, set the financial and payments terms and ensure that best practise are being used and applied in order to protect financial health
• Monitor financial performance across financial and accounting operations and processes, identify opportunities for improvement and ensure support is provided for an optimal financial decision.
• Oversee the financial accounting activities (general ledger, fixed assets, accounts payable, and accounts receivable) ensure that all accounts payable transactions are executed on-time, follow up on all receivables and ensure compliance of all the activities with established accounting standards.
• Manage the processes of Tax and Zakat calculations, documentation, and payments, in order to ensure compliance to government regulations, policies and procedures.
• Lead the preparation of Company-wide, timely, and accurate statements and reports in line with policies and standards, to meet operational / business requirements.

Requirements

The Candidate

• Bachelor's degree in Finance or any related field
• MBA, CFA, Master's degree (preferred)
• Professional qualification in Accounting (ACCA, CPA, CIMA, ACA)
• Arabic speaking candidates will be preferred
• Minimum Experience: 15 years of experience in a similar position with 10 years' experience in a managerial role

About the Company

NTS Group is a leading specialist recruitment firm and experts at recruiting skilled, qualified and professional people in the Middle East.

Our promise is simple. To provide our clients and candidates an expert, professional and bespoke service whilst maintaining the highest levels of integrity and honesty.

NTS Group specialise within contingency, retained and search based recruitment campaigns across the following sectors;

Finance & Accountancy Professional Office Support Sales & Marketing Operations

To our clients, we understand people are your biggest asset and the future of your business. This is why we focus on understanding not only your technical requirements, but your culture, values and vision in order to find the right people for your business first time.

To our candidates, we believe in honesty, integrity and supporting you throughout the entire process. We listen to what you want and proactively go to market to assist you in finding your dream job.

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Chief Financial Officer salaries in Saudi Arabia

Average monthly compensation
SAR 47,500

Breakdown available for industries, cities and years of experience