Job description:
Job Purpose
To oversee and contribute to the factory’s financial planning, budgeting, cost management, and reporting activities, ensuring accurate cost allocation, optimal use of resources, and adherence to accounting standards to support profitability and improve operational performance.
Key Accountability Areas Budgetary Control System:
- Manage budgets, accounts, and financial operations across production units to meet internal reporting needs and external requirements from regulatory and statutory bodies.
- Coordinate the development of annual and long-term operating and capital budgets for the factory, ensuring alignment with production plans and resource optimization.
Costing & Inventory Control:
- Oversee product costing, bill of materials (BOM), and work with production and procurement teams to analyze cost variances and improve cost accuracy.
- Ensure accurate valuation of raw materials, work-in-progress (WIP), and finished goods inventories.
- Set and monitor cost center allocations, overhead distribution, and internal transfer pricing.
Fixed Assets & Capital Expenditure Analysis:
- Manage fixed asset records including asset tagging, depreciation, and capital expenditure (CAPEX) tracking across factory operations.
- Ensure correct classification of capital vs. operational expenses and apply appropriate depreciation methods based on asset types and usage.
Forecasting & Profitability Analysis:
- Contribute to financial forecasting processes by analyzing production capacity, demand trends, and material costs.
- Conduct profitability analysis of product lines, departments, or processes and recommend adjustments to improve margins.
- Perform variance analysis between budgeted and actual figures to assess performance and identify trends.
Cost Control:
- Monitor production cost efficiency against set budgets and KPIs, highlighting deviations and recommending corrective measures.
- Identify opportunities for cost savings in materials, labor, and overhead through collaboration with production and procurement teams.
Reporting & Compliance:
- Prepare and review periodic financial and management reports tailored to factory operations, including cost reports, inventory movement, and production efficiency metrics.
- Ensure compliance with applicable accounting standards and internal control procedures.
- Supervise the year-end closing process, including preparation of final accounts and variance reports.
Role Accountability HR Proficiency:
- Ability to recruit, recognize and cultivate high performers and expose them in order to create a robust second line of management.
- Ability to recognize low performers and guide them to improve or release them.
- Ability to treat subordinates equally without any discrimination.
- Assessment criteria of subordinates is performance that leads to planned results.
- Ensure availability of delegation of authority matrix to have sufficient delegations as per company policy.
Responsibility:
- Must take full responsibility for his operation as per the job description and the required deliverables from this position, taking into consideration the general company guidelines.
- Able to anticipate problems and make the necessary proactive steps to prevent them
- Ability to take necessary and proper timely decisions.
Delivery:
- Deliver the required results in timely manner with required quality and cost.
Making a Tangible Difference:
- Must make a tangible difference to his area of operation. and exceed business expectations.
Business Planning and Performance:
- Able to transform the corporate goals into business plans.
- Able to Plan, follow-up and execute those plans, whether they are annual or development plans.
- Monitor the plan performance and initiate action to strengthen results and take the corrective action accordingly.
- Provide periodic work progress reports.
- Responsible for monitoring and controlling budgets and expenses to achieve the optimum cost efficiency.
Organizational Development:
- Develop the organizational structure according to the current requirements taking into consideration future and development plans.
- Ensure availability of job descriptions for all job roles and deployment.
Business Process Improvements:
- Develop, coordinate well-defined written systems, policies, procedures, and seek automations opportunities as much as possible.
- Should be conversant and able to navigate through IT solutions especially those relevant to his job and business.
- Promote the automated systems and using them fully, to spread its culture.
Quality:
- Quality is considered as alfanar’s prime competitive advantage as such, managers are expected to act accordingly.
Adaptation:
- Adapt to new and alternative techniques, technologies, management structures, and business models.
Health, Safety and Environment:
- Ensure a safe, secure, and legal work environment as per the standard regulations.
Academic Qualification Bachelor Degree in Accounting and Finance or Any relevant fieldWork Experience 6 to 10 YearsTechnical / Functional Competencies Accounting Theory/ConceptsFinancial AnalysisFinancial ReportingCost Control
Profile description:
Alfanar is a Saudi company with an international presence, primarily engaged in the manufacturing and trading of a wide variety of low, medium, and high voltage electrical products, in addition to its portfolio of conventional and renewable energy solutions, oil and gas, water treatment, infrastructure, technical services, and digital solutions.
The hub of alfanar’s manufacturing operations is Medinet alfanar Alsinaiya, a 700,000 square-meter complex located in Riyadh. The complex houses an array of ultra-modern manufacturing facilities and laboratories equipped with state-of-the-art technologies and staffed with highly skilled professionals.
alfanar derives its success from its commitment to providing the highest quality standards to its customers, and the continuous development of its human capital, who alfanar considers its most valuable asset. With this in mind, alfanar promotes a proactive work environment where its employees are always valued, nurtured, and empowered to fuel their pride in being part of alfanar.
For more information about alfanar, please visit alfanar.com
