Posted
Ref: HP097-14

Job description / Role

Employment: Full Time

Job Purpose

To monitor and direct all commercial finance and accounts payable activities for Panda to ensure efficient processing, payment and management of outgoing payments and invoices, as well as efficient documentation, analysis and reconciliation of relevant data and accounts, as per the company’s internal policies and procedures and applicable regulations.

Strategic Contribution
• Participate and contribute to the development and refinement of Finance’s short and long-term strategy and ensure it is properly translated into operational plans for Accounts Payable function.
• Lead the development of the Account Payable department’s strategy by ensuring that Panda’s relevant long and short-term plans are effectively converted into the appropriate functional objectives.
• Ensure proper implementation of the functional strategy by managing the day-to-day operations of the Accounts Payable department, providing guidance, encouraging teamwork, and facilitating delivery of work processes to achieve high performance standards.

Leadership
• Lead the effective achievement of the Accounts Payable department objectives by setting individual objectives, managing performance, developing, and motivating employees in order to maximize individual and functional performance.
• Coordinate the activities of the team to ensure that all work is carried out efficiently, in line with the annual business plans, policies and procedures.

Accounts Payable Management
• Manage and review account payables related transactions, and review aging of payables to effectively follow-up and liaise with internal and external stakeholders on insufficient or incorrect accounting information to maintain effective control over payments made within Panda.
• Manage payment policies and controls to ensure that the authorization and processing of payments suppliers and contractors are in compliance with company policy and in the best interest of Panda.
• Verify, supervise and authorize the administration of disbursement accounts and ensure prompt settlement of payments.
• Liaise with concerned functions, to obtain necessary information /documents, and make decisions for appropriate actions regarding critical matters related to accounts payables, disbursement, and payroll transactions/documents.
• Manage the monthly closing for all accounts payable transactions including advance payment, etc. ensuring their accuracy and compliance with international and company accounting policies and procedures.
• Review the purchase order accruals on quarterly basis and advise the payables team for appropriate actions related to items which have been outstanding.
• Liaise with the procurement and operation functions to organize and manage payable related transactions as per defined policies and procedures to resolve any inter-departmental issues and ensure the execution of timely suppliers’ payment.
• Lead the automation of manual processes in accounts payable department to make the function more robust and effective
• Lead the supplier reconciliation and resolve any outstanding disputes with the suppliers in coordination with the Commercial Team
• Maintain agreements that consist of secure tracking of payments and follow-up with respective units to ensure the agreements are adhered to and renewed on time.

Auditing
• Coordinate with the audit, risk and financial controlling team to provide all necessary information, documentation and data related to accounts payable that are needed for the completion of audit assignments and resolve any outstanding audit queries to support external auditor’s assigned tasks.

Reporting
• Ensure that all divisional reports are prepared timely and accurately and meet Panda’s organizational requirements, in adherence to the company’s policies and quality standards.
• Present annual and periodic reports at senior management meetings.

Continuous Improvement
• Contribute to the identification of opportunities for continuous improvement of the Accounts Payable department systems, processes, and practices considering international best practices, improvement of business processes and cost optimization.

Health, Safety and Environment
• Ensure compliance to all relevant quality, health, safety, and environmental management policies, procedures, and controls across the Accounts Payable department to guarantee employee and assets safety, legislative compliance, and a responsible environmental attitude.

Requirements

Education
• Bachelor’s degree in Accounting, Finance or any other related field
• Professional certification such as ACCA, CPA, SOCPA, etc.

Experience, Skills & Competencies
• Minimum of 10 years of relevant experience in accounts payable
• Arabic language desired (working knowledge)
• English language required (advanced)
• Knowledge of Accounts Payable and general accounting practices, contract management, commercial finance management, etc.
• Presentation, communication, negotiation, and interpersonal skills
• Team building and effective people management

About the Company

Panda was founded in 1978 as one of the most important organizations in the retail sector in Saudi Arabia. In 1994, Panda merged with Azizia Company then in late 1998 Azizia Panda United was acquired by Savola Group, one of the largest diversified conglomerates in MENA region, Azizia Panda United became the retail sector of Savola and started its journey to become the leading food retailer in the region. In 2008,

This acquisition has aided Panda in its growth and expansion by having the largest market share in the Saudi retail sector.

The first new format of Hypermarket was opened in Riyadh city in 2004. In 2006, Panda moved forward with its regional expansion by opening its first store in Dubai. In 2008, more numbers of stores were operating under the name of Panda when Savola Group acquired “Giant” supermarkets in Saudi Arabia and merged them with Panda. One year later in 2009, Panda has landed another great success by acquiring all Geant stores in the Kingdom of Saudi Arabia.

In 2014 the company name was changed from Azizia Panda United to the Panda Retail Company. And another big step in the expansion plan was achieved when Panda opened it hypermarket in Egypt in the year of 2015. These big steps have raised Panda share in the retail sector from 7% to more than 8%. Today Panda is the largest food retailer in the Middle East owns more than 400 branch of panda Super, Panda Hyper and Pandati in Saudi Arabia & Egypt making it the largest retail company that offering its services to more than 400 million visitors annually.

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PA salaries in Saudi Arabia

Average monthly compensation
SAR 9,500

Breakdown available for industries, cities and years of experience