Position Title: Finance Manager
Job Objective:
Management and supervision of all financial and accounting activities for the company, ensuring the accuracy of financial reporting, optimizing cash flows, controlling costs, enhancing internal controls, and compliance with accounting and tax standards applicable in the Kingdom of Saudi Arabia.
Responsibilities:
- Supervision of accounting operations and financial closing and preparation of financial statements.
- Preparation of annual budgets and financial forecasts and monitoring variances.
- Management of cash flows, receivables, collections, and payables.
- Monitoring costs and analyzing profitability and preparing financial reports for senior management.
- Monitoring compliance with tax and regulatory requirements and electronic invoicing requirements.
- Developing internal control procedures and managing financial risks.
- Managing the accounting and finance team and coordinating with other departments.
- Coordinating with banks, external auditors, and regulatory authorities.
Qualifications and Experience:
- Bachelor's degree in accounting or finance or a related field.
- Relevant experience in financial management and accounting and managing teams.
- Familiarity with accounting standards and tax regulations applicable in Saudi Arabia.
- Proficiency in Excel and accounting software and ERP systems.
- Advanced skills in financial analysis, planning, cash management, and internal controls.
- Professional certification in accounting or financial management is preferred.
Reporting Structure: Reports to the General Manager or Chief Executive Officer.
Performance Indicators: Accuracy of reports, adherence to closing deadlines, efficiency of collections, cost control, and accuracy of cash forecasts.
Skills
First: Technical and Financial Skills
- Accounting and Financial Reporting
- Preparation and review of financial statements.
- Supervision of monthly and annual closings.
- Review of general ledger accounts and bank reconciliations.
- Understanding of applicable accounting standards.
- Financial Analysis
- Analysis of revenues, expenses, and profit margins.
- Analysis of financial ratios and cash flow.
- Comparison of actual performance against budget.
- Preparation of financial reports and recommendations for senior management.
- Management of Cash Flows and Receivables
- Preparation of cash flow forecasts and monitoring bank balances.
- Planning for future obligations and expenses.
- Improving collections from customers and managing vendor payments.
- Managing financing needs and banking facilities.
- Budgeting and Financial Planning
- Preparation of annual budgets and financial projections.
- Analysis of variances between budgeted and actual results.
- Preparation of cost reduction plans and improving profitability.
- Evaluation of investments and financial needs.
- Internal Controls and Risk Management
- Establishing spending policies and financial authorizations.
- Monitoring expenses, contracts, and loans.
- Limiting financial errors and fraud.
- Ensuring compliance with regulatory and tax requirements.
Secondly: Managerial and Leadership Skills
- Leadership and team management: Delegating tasks, developing staff, and monitoring work quality.
- Decision-making: Making informed decisions based on financial data and analyses.
- Strategic planning: Aligning financial plans with the company's goals and growth.
- Time and priority management: Organizing reports and compliance tasks effectively.
- Negotiation: Negotiating with banks, vendors, and clients regarding financial terms.
- Effective communication: Presenting results and recommendations to senior management clearly.
- Problem-solving: Addressing cash flow shortages and financial discrepancies promptly.
