Finance Manager

Propel Consult

Riyadh, Saudi Arabia

Posted
Ref: LP127-2057

Job description / Role

Employment: Full Time

Company
Our client is one of the well known FMCG companies in Riyadh, as they are currently looking to hire a Saudi Finance Manager.

Job Purpose:
To lead the financial center of excellence and expertise for the company with direct responsibility for financial accounting, financial statements, treasury, and company operations. Support the CFO with all compliance and support overall Corporate Governance through active involvement with SAP system, governmental regulations, internal audit and external audit.

KEY ACCOUNTABILITIES & ROLE ACTIVITIES:

Financial Centre of Excellence: Own company general ledger, accounting standards, policies, and procedures.

Operations Management:
- Manage the daily operations of Financial Accounting and Reporting to ensure that work processes are implemented as designed and comply with established processes, policies & procedures, and delegation of authority.
- Manage the preparation of timely and accurate financial statements reporting to meet company and department requirements, policies, and standards.

Accounting, Taxes and Zakat Management:
- Ensure quality and timely closing of books (monthly and yearly) while securing integrity of the financial information.
- Manage the activities of Accounts Payables, Fixed Assets, Treasury & General Accounting.
- Manage financial closing process & reconciliation of balance sheet accounts.
- Ensure full compliance with Zakat, Tax, and all other corporate declarations due from the Company.

Working Capital Management:
- Proactively lead and manage company liquidity and cash flows through appropriate forecasting and facility management in conjunction with Financial Planning & Analysis section.
- Lead the working capital plan & maintain track of working capital; forecasting cash requirements for day-to-day operations to highlight cash flow trends and potential liquidity requirements.
- Full responsibility over calculation & achievements of DPO, DSO & DIO.
- Accelerate company trade receivable collection and control bad debit provision though the effective implementation of ECL (Expected Credit Loss Model).
- Maintain good relationship with banks, selective suppliers, and other creditors.

Treasury and Insurance:
- Proactively lead and manage company liquidity through appropriate forecasting, facility management and try to maximize return on time deposit.
- Ensure full adherence to banks' facilities agreements regarding terms, financial ratios, covenants, and special conditions across.
- Control all the Insurance activities through close follow up & coordination with procurement department.

Compliance:
- Proactively lead the preparation of all materials for the audit and risk committee.
- Assist in the development & implementation of goals, policies & procedures relating to financial management, budgeting & accounting.
- Develop & promote a strong internal control environment.
- Answer all requests from GAZT related to tax and zakat.
- Adhere to newly announced regulations in KSA.
- Direct company to adhere to the approved DoA (Delegation of Authority).
- Full understanding and implementation of IFRS (international financial reporting standards).

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 considering ‘international best practice’, improvement of business processes, cost reduction and productivity improvement.

Policies, Processes & Procedures:
- Recommend enhancements and improvements to departmental policies.
- Direct the implementation of procedures and controls covering all areas of Accounting and Corporate Affairs activity so that all relevant procedural/legislative requirements are fulfilled while delivering a quality, cost-effective services.

Safety, Quality & Environment:
- Ensure compliance to all relevant safety, quality and environmental management policies, procedures, and controls across department in order to guarantee employee safety, legislative compliance and a responsible environmental attitude.

Requirements

- Minimum Qualification: Bachelor’s degree in Finance and Accounting Higher qualification will be a plus.
- Preferred Work Experience: 12 – 15 years of relevant experience in Finance &
- Accounting including at least 3 years in similar position of progressively increasing managerial responsibilities, and SAP system experience.

Preferred Job Specific Skills:
- Effective communication & Presentation Skills
- Leadership skills
- People Management Skills
- Fluent in English and Arabic languages

About the Company

Propel Consult delivers a service in step with the needs of both our client companies and candidates. Our ability to add value to all levels of recruitment stems from our wholehearted belief in providing a professional service to both parties. We have built relationships with many leading indigenous and mulitnational organisations throughout the Middle East and internationally in countries such as UAE, Qatar, Saudi Arabia, Oman, Bahrain, Kuwait, Egypt and many more. Concentrating our resources has created 5 distinct specialist divisions:

  • Banking & Finance
  • Human Resources
  • Oil & Gas
  • Construction
  • Architecture & Engineering

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