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Finance Manager

Location: Riyadh

Section

Finance

Department

Finance

Reporting to:

CEO

Job Summary

• Assist in developing bottom-up budgets, financial forecasts, Long Range Business Plan, and in monitoring the budget for variances.
• Manage, perform, and oversee company financials; accounting, accounts receivables, account payable, etc.
• Oversee the operations of the treasury section, including the design of an organizational structure adequate for achieving the department’s goals and objectives.

Competencies

• Excellent financial analysis skills
• Ability to develop budgeting and forecasting models and variables to support reliable and achievable financial goals.
• Strong computer skills, particularly MS Excel).
• Able to learn and work within a company Enterprise Resource Planning (ERP) System for all financial controls and functions. 
• Strong written and communication skills.
• Great understanding of policies, procedures, and work methods.
• Proficiency in Arabic and English languages.

Qualification

• Bachelor’s degree in accounting or finance.
• MBA or a master’s degree in finance would be highly desirable.
• Professional financial qualification (e.g., CFA) is highly recommended.

Experience and Competencies

• A minimum of 8-12 years of experience in financial & accounting management, at least 3 years of which should be at a management level.
• Prior experience in accounting within aviation or related industry is highly recommended.

Responsibilities & Duties

• In addition to management of the Finance department, Manager will also have knowledge of how to perform the various finance functions, as in be able to solely perform some of the required finance duties on a day-to-day basis, as required. 
• This is a working level position to oversee, manage, and evaluate the performance of the Budgeting and Control functions.
• Support the development of SRSC’s budgeting and control policies, standards, and processes.
• Supervise the development of a revenue planning process and cost and capital allocation process.
• Collect bottom-up budgets from departments, compile and prepare summary reports for reconciliation (actual bottom-up budgets are prepared by the respective departments and Reporting).
• Attend financial review meetings with Heads of Departments
• Assist the Top Management and other SRSC departments (when needed) in preparing financial projections and analyses (e.g., cash flow analyses, sales analyses, etc.)
• Forecast cash flow projections, related borrowing needs, and available funds for investment.
• Ensure that sufficient funds are available to meet ongoing operational and capital investment requirements.
• Use hedging to mitigate financial risks related to the interest rates on the company's borrowings.
• Maintain banking relationships.
• Arrange for equity and debt financing.
• Supervision of Accounts Payable and Accounts Receivable staff.
• Completion of the monthly accruals, journals, fixed assets, and depreciation schedules.
• Managing the general ledger including overseeing the monthly balance sheet, banking, and inter-company reconciliations.
• Preparation of VAT Return workings and associated reconciliations.
• Monthly review of the payroll in general including the benefits and the deduction etc.., and ensuring consistency between HR system and ERP system. Moreover, comparing the previous months to identify any differences.
• Monthly post-month-end entries including accruals expenses, prepaid expenses amortization, IFRS 16 and reconcile the pre-payments and control accounts if needed to. 
• Preparing the consolidation of the monthly management reporting including P&L, BS, and CF then reporting to the contributors.
• Compare actual financial performance with the budget and identify and explain any deviations.
• lead the preparation of the quarterly VAT return, monthly WHT, and responsible for the annual Zakat return preparation and associated reconciliations.
• Provide all information and clarifications required by other departments and external auditors (CAS) and work to facilitate their task.