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IT Financial Manager

Rhine Resources

Khobar, Saudi Arabia

Ref: MP133-98

The Role

1. Assist in annual budget preparation and enter budget data into the budget accounting system.
2. Inform unit heads of due dates for the submission of budget information.
3. Review proposed budget submissions from unit heads for accuracy and completeness.
4. Propose enhancements to the budget model.
5. Collate capital budget requests and submit to manager with recommendations.
6. Coordinate capital budgeting approvals.
7. Review the budget model for calculation errors.
8. Create a consolidated budget for management approval.
9. Compare actual to budgeted results at the end of each reporting period.
10. Update the budget model as requested to account for significant changes in the business environment.
11. Maintain the budgeting policies and procedures manual.
12. Analyze monthly department budgeting and accounting reports to maintain expenditure controls.
13. Prepare regular and special budget reports
14. Assist in the preparation of monthly and quarterly management budget and accounts report and respond to queries from budget holders.
15. Adjust budgets as a result of unit heads periodical reviews with management.
16. Provide advice and technical assistance with cost analysis, fiscal allocation, and budget preparation.
17. Update budgets and prepare recommendations for the approval or disapproval of funds requests.
18. Review operating budgets to analyze trends affecting budget needs.
19. Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations.
20. Compile and analyze accounting records and other data and submit recommendations to determine the financial resources required to implement a program.
21. Ensure there is a healthy tension between budget and finances.
22. Advise the IT management and IT unit heads on impact of budget commitments and communicate arising matters.
23. Prepare financial projections for management review..
24. Follow internal budgeting processes and controls and maintain budget limitations in alignment with the Bank’s business processes.
25. Prepare payment requests for procurements and expenses and ensure that the approvals are routed through the proper management channels
26. Conduct reviews and evaluations for cost-reduction opportunities.
27. Liaise with auditors to ensure annual monitoring is carried out.
28. Testify before examining and fund-granting authorities, clarifying and promoting the proposed budgets.
29. Undertake such other reasonable duties as the line manager may require from time to time.


1. Bachelors degree in accounting, finance, business or equivalent.
2. A solid hands-on experience of 5-7 years in Budgeting and Accounting with proven financial and administrative experience. Knowledge of income statements and balance sheets.
3. Minimum 3 years experience in a Retail Bank, preferably in IT Admin.
4. Experience in IT Procurement or IT Finance
5. Execute tactical and leadership role in the data gathering and analysis of IT related costs
6. Practical IT skills, including a good working knowledge of MS Windows, MS Office and other computing applications. Advanced MS Excel skills.
7. Must have excellent communication and writing skills.
8. Project management experience is highly desirable.
9. Strong people skills are a must.

About the Company

Rhine Resources is a one stop professional service provider specialising in:

  • Human Asset Recruitment, Talent Acquisition & Recruitment Process Outsourcing
  • Information Technology Services & Staff Augmentation
  • Facilities Managed Services.
  • Event Management

Head Office: The Kingdom of Bahrain with affiliate offices in Mumbai, Hyderabad & Chennai, India Operations cover: Middle East, Asia and North Africa Team: HR, IT & Finance professionals expertise with over 25 years of successful career & business experience across the Middle East.

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