13 days ago
Full TimeMid Level
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About the company
Shory Saudi Arabia
Insurance Agencies and Brokerages
JOB PURPOSE
Lead the finance function for Shory KSA as its in-country finance lead, ensuring accurate and timely financial reporting, full compliance with Saudi tax, statutory and regulatory requirements, a effective financial controls as the business grows. The role is the finance partner for Shory KSA leadership and the in-country link to Group Finance for reporting, consolidation, intercompany recharges and audit readiness.
KEY ACCOUNTABILITIES
Responsibilities:
Financial Reporting
● Own the monthly, quarterly and annual close for Shory KSA under IFRS as endorsed by SOCPA, in line with Group timelines.
● Prepare statutory financial statements, coordinate the external audit and complete the annual filing on the Qawaem platform.
● Deliver management and KPI reporting with commentary on performance, cash, receivables, insurer balances and key variances against budget and forecast, to Shory KSA leadership and Group Finance.
Group Reporting & Consolidation
● Prepare and submit the monthly, quarterly and annual reporting packs to the UAE parent and Group Finance in line with Group templates, timelines and accounting policies.
● Map the Shory KSA ledger to the Group chart of accounts and support the consolidation process, including intercompany matching and elimination entries.
● Maintain intercompany reconciliations and cost recharges with UAE and Group entities in line with the Group allocation methodology.
● Respond to ad hoc information requests from the parent company, Group auditors and advisors.
Tax & Zakat (ZATCA)
● Prepare Zakat and/or corporate income tax returns, and withholding tax on cross-border payments, for Group Finance approval and filing.
● Manage VAT compliance and returns, and maintain compliance with ZATCA e- invoicing (FATOORA) integration requirements.
● Support transfer pricing documentation and disclosures for intercompany transactions with Group Tax and external advisors.
● Respond to ZATCA queries and assessments, and coordinate any objections.
Revenue, Collections
● Oversee revenue recognition, billing and collections, including commission
● Prepare cash flow forecasts and manage Saudi banking relationships and payments within the delegation of authority.
● Monitor receivables and payables and resolve settlement discrepancies with partners.
Payment, Reconciliation & Gateway Monitoring
● Monitor daily transaction flows across all payment gateways and channels, tracking success rates, failed and pending transactions and settlement timing.
● Oversee daily and monthly reconciliations between the policy/sales platform, payment gateway reports, acquirer settlements and bank statements, and ensure unmatched items are investigated and cleared promptly.
● Reconcile premiums collected on behalf of insurers against remittances due, ensuring accurate and timely settlement within agreed terms.
● Manage refunds, cancellations, chargebacks and disputes with gateways and acquirers, and ensure they are correctly reflected in the books.
● Validate gateway and merchant fees (MDR and transaction charges) against contracted rates and recover any overcharges.
● Maintain controls over payment processing and gateway access, and escalate anomalies, outages or suspected fraud to leadership and the relevant teams.
Budgeting & Performance
● Prepare the Shory KSA annual budget and rolling forecasts as part of the Group planning process.
● Track performance against plan, including marketing spend and acquisition cost, and raise risks and opportunities early.
● Provide financial analysis for business cases, new partner integrations and commercial initiatives.
Controls & Compliance
● Operate internal controls covering segregation of duties, approvals, reconciliations and audit trails, appropriate for a pre-IPO group.
● Ensure compliance with Companies Law and Commercial Registration obligations, and support any financial reporting required by the sector regulator
● Work with People & Culture on payroll accuracy, GOSI, Mudad/WPS and end- of-service provisions.
● Keep documentation audit-ready and support Group internal audit and IPO readiness work.
Team & Stakeholder Management
● Lead, coach and develop the Shory KSA finance team (currently the Senior Officer Finance), including performance management and development planning.
● Manage outsourced providers (accounting, tax, audit, payroll) and their deliverables.
● Act as finance partner to Shory KSA leadership.
QUALIFICATIONS, EXPERIENCE, SKILLS
Qualifications:
● Bachelors degree in Accounting or Finance.
● Professional qualification (SOCPA, CPA, ACCA or CMA) preferred.
Experience:
● 8–10+ years of progressive finance experience, including at least 2–4 years managing a finance team or leading a finance function.
● Recent hands-on KSA experience: ZATCA (Zakat/CIT, VAT, WHT), e-invoicing, GOSI, statutory audit and filing.
● Experience with payment gateway and high-volume transaction reconciliations.
● Insurance, fintech or digital platform experience preferred.
Job-Specific Skills:
● Strong technical accounting and month-end close discipline.
● Working knowledge of Saudi tax and statutory requirements.
● Group reporting and consolidation (chart of accounts mapping, intercompany eliminations).
● Strong reconciliation and controls mindset.
● Budgeting, forecasting and financial analysis.
● Proficiency in ERP and reporting tools (TBC: Group ERP).
● Fluent Arabic and English.