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Job Specification

  1. Number of Vacancies: 1
  2. Expiry Date: 2019-07-23
  3. Job Type: Full Time
  1. Experience: 8 to 12 years
  2. Functional Area:
  3. Job Code: JB104489

Job Description

    • The role holder is responsible for developing the financial strategy for the company in collaboration with the Finance, Operations and IT Director, and implementing the same to provide effective financial planning and budgeting, accurate and timely financial accounting and reporting and efficient corporate treasury operations to ensure robust internal financial control and financial risk management, in line with the corporate guidelines, applicable law and regulation and international best practice. 
    Strategic and Managerial Responsibilities:
    • In collaboration with the Group Head and in alignment with the group Strategy, develops the strategy for the division and guides the development of strategy for the reporting department, in line with the stated group priorities.
    • Prepares and manages the annual budget for the division and reporting departments in conjunction with the group budget and secures subsequent approval, tracks expenditure and ensures adherence to the budget. 
    • Supports the development of the workforce plan for the division by providing inputs for own divisions
    • Provides inputs to forecasting the workforce requirements for the Group.
    • Recommends improvements and develops the divisional/departmental policies and directs the implementation of procedures and controls so that all relevant procedural/legislative requirements are fulfilled while delivering a quality and cost-effective services.  
    Core Responsibilities:
    • Collaborates with the Finance, Operations and IT Director in the development of company’s finance and tax strategy, policies, procedures and systems and leads their implementation.
    • Ensures efficient and effective management of Company’s finances through all necessary financial controls, systems and processes, and ensures accuracy and integrity of the company’s financial records.
    • In collaboration with Risk Management, identifies financial risks to the business and reports them to the Finance, Operations and IT Director along with the mitigation plans.
    • Serves as the principal contact with internal and external auditors and ensures that they are provided close cooperation and assistance in the discharge of their responsibilities.
    • Guides and oversees the execution of the annual budgeting process for the groups in order to ensure that Company’s budgeting requirements are aligned to the strategic goals and objective of the organisation. 
    • Monitors the overall financial performance to ensure awareness of anticipated costs / revenues, excesses / deficits, areas of unsatisfactory performance and potential performance improvement opportunities.
    • Ensures completeness, accuracy and timeliness of all financial reporting including the coordination and completeness of annual audit reviews, and ensuring compliance with IFRS and with all legal and statutory requirements.
    • Ensures coordination with all groups on the use of management information systems (MIS) to ensure the delivery and regular production of key MIS reports that are timely, accurate and actionable and which act as key tools in strategic decision making for the top management.
    • Leads the treasury department to ensure Company’s day-to-day corporate treasury operations, including cash management, debt, investments and bank relationships, are carried out in adherence to relevant laws, regulations and industry codes of conduct
    • Guides the management of the asset and liability structure, cash flow, foreign exchange position, and risks associated with the company’s assets and liabilities exposures and the generation of profits from money market.
    • Facilitates the efficient utilization of cash and financial services to support business liquidity needs in line with Company’s objectives.
    • Deals with the buyers for sale of portfolio regarding terms and conditions, pricing, tenor, occurrence of specific events etc.
    • Ensures that the cost of fund is in line of the targets and take necessary actions to reduce it as much possible.
    • Builds, maintains, and manages relationships with banks to ensure availability of needed services, negotiate originate-to-sell deals and sell them portfolios arranged by the business functions.
    • Directs the daily operations of the Financial Accounting department, including collections & payments processing and execution, fixed asset financial management, and ad-hoc requirements by the business etc., ensuring that work processes are implemented as designed and comply with internal and external standards. 
    • Ensures the accounting entries related to provisions, profits and losses and fixed assets as well as financial adjustment accounting entries are well prepared and comply with internal and external standards.
    • Approves the monthly expense report and ensures all related regularization accounts are accurately balanced.
    People Management Responsibilities:
    • Develops a continuous talent pipeline for key roles in the division and provides mentoring for high potential talent in the team.
    • Monitors and enables the achievement of goals and key performance indicators for direct reports and ensures effective implementation of the performance management process in the division.
    • Develops talent within the division by providing guidance, ongoing feedback, coaching, and development opportunities to individuals to enable achievement of the defined goals.
    Skills and Qualifications:
    • Bachelor’s degree in Accounting / Finance or equivalent; Master’s in Business Administration / Accounting / Finance or equivalent preferred;
    • Professional certification such as CMA, CPA, CFA, ACCA, SOCPA etc. or equivalent is required
    • At least 8 years of experience out of which 3 years in a supervisory position
    • Prior experience across the finance and/or accounting functions within a leading bank or reputed company
    • Sound knowledge of financial and management accounting and reporting
    • Strong knowledge of financial planning and budgeting
    • Understanding of accounting Standards (e.g. IFRS)
    • Knowledge of KSA and/or the Middle East region regulatory environment and context
    • Decision making skills
    • Good analytical and problem solving skills
    • Excellent communication and negotiation skills
    • Planning and organizing skills
    • Technical knowledge with knowledge of MS office and preferably financial (treasury, budgeting, costing, and reconciliation) applications
    • Fluent written and spoken English & Arabic essential