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Head, Budgeting, Accounting and Reporting

Riyadh, Saudi Arabia
Closing date
May 24, 2024

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Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Job Description

Role Summary:

Responsible for leading financial planning (budgeting) activities. Mandated to account for preparing and reporting the company's timely and accurate financial position to key stakeholders. Custodian of relevant laws and regulations applied in the function relating to accounting, taxation, and audit.

Functional Accountability:

Manage consistent financial planning, forecasting, analysis, and reporting activities to ensure consolidated reporting to support the company's management in business decision-making.

Ensure effective engagement of key stakeholders and lead the validation of all crucial business assumptions for budget preparation.

Building a comprehensive financial model for budgeting and understanding all key stakeholders

Oversee the preparation of consolidated annual functional budgets.

Verify that all financial commitments are within the approved annual budget.

Oversee and monitor budget status throughout the year, report on budget variations, risks, and areas that require management attention, and take relevant action as needed.

Lead the development of financial management reports and ensure their accuracy. Present the findings to relevant stakeholders and highlight key areas of concern for their attention.

Ensure SAFE MIS is well developed to generate on time reporting with adequate controls.

Establish effective and rigorous policies and procedures for accounting activities and ensure their application across SAFE.

Develop a comprehensive chart of account structure to ensure systematic capture of SAFE business activities.

Manage accounting activities in accounts payable, accounts receivable, general ledger, fixed assets accounts, tax, and VAT per local and international accounting standards and regulatory requirements.

Guide the development of periodical financial reports and financial statements in line with local and international accounting standards and by-laws and ensure coordination with the Budgeting and Financial Reporting team.

Ensure timely closing of monthly books, and coordinate activities across relevant SAFE departments (SR and GR).

Perform reconciliations for all key modules and perform data analysis to ensure the accuracy and consistency of accounting records.

Conduct accounting for assets and find reasons for changes (depreciation, obsolescence, deterioration, change in customer taste, increased demand, decreased market supply, etc.).

Manage and monitor treasury and cash management activities to ensure adequate cash liquidity to meet SAFE financial requirements and ensure optimal allocation and utilization of financial resources.

Support business lines regarding treasury activities, investments and financing, and the provision of interest rate quotas.

Conduct all month-end closing and reconciliation activities in alignment with accrual accounting principles.

Job Requirements:

Minimum bachelor's degree in accounting or finance.

Minimum Years of Relevant Experience: 10+ years.

Core Competency:

Self-driven and takes action proactively.

Pursues goals with persistence and stamina, works on tasks thoroughly, ensuring accuracy and meeting standards.

Maintains high levels of quality and effectiveness of work outputs and achieves outstanding results.

Collaborates constructively with people at all levels across the organization.

Helps colleagues, and always be available to the team, and delivers on team commitments.

Trusts the guidance and direction of colleagues and senior members of the team.

Examines, evaluates, and analyzes different types of information objectively.

Spots trends and patterns, establishes key facts clearly, and interprets numerical data effectively.

Provides insights and identifies ways to improve things. Trusts own intuition about which methods will work best.

Listens attentively and seeks to understand before being understood.

Explains things clearly and articulates and presents information effectively and confidently.

Challenges ideas effectively and presents persuasive arguments by presenting a strong case.

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