Finance Director (Arabic Speaking)
Location : Riyadh
Post Date : 13 August 2017
A leading FMCG business is looking to recruit a Finance Director for their Head office in Riyadh.
The Finance Director will contribute to the development of strategy, including acquisitions, as well as leading relationships with financial institutions and service providers. You will be responsible for organising, maintaining and directing accounting activities and functions, including the recording of financial records, financial statement preparation, VAT/tax compliance, payroll processing and audit coordination to ensure that the accounts are prepared in a timely manner. Responsible for Board reporting, management reporting, treasury, accounting, costing, tax and budgeting departments.
Principal Duties & Responsibilities:
- Plans, develops and monitors the Finance & Accounting strategy including mission, vision, goals and action plans, and ensures the strategy complies with the company's business strategy.
- Follows-up the Finance & Accounting Roadmap implementation plan execution and ensures that projects produce solutions with the standards of quality and within the constraints of time and cost.
- Prepares, reviews and owns overseeing the annual budget after having the approval from the Board of Directors. Coordinates preparation of the budget in cooperation with the top management.
- Manages expenditures in order to operate within the approved budget guidelines, any deviations being reported to the Board of Directors.
- Reviews and approves the budget allocation issued by the Finance & Accounting department heads taking into consideration the planned / existing projects and priorities.
- Reviews and approves the Finance & Accounting policies, procedures, standards and guidelines in accordance with the business needs and addresses instances of non-adherence to these.
- Acts as advisor and consultant for the Finance & Accounting department (team of 14) regarding planning, budgeting, policies & procedures, and quality assurance.
- Liaises with other functional / departmental managers so as to understand all needs of financing.
- Conducts monthly progress meetings with the Finance & Accounting department heads to discuss progress and status and identify issues, obstacles and risks related to each department.
- Conducts monthly progress meetings with the top management and all department heads to discuss results progress vs. budget, identify gaps and corrections needed if any.
- Remains vigilant for opportunities to improve the business in the context of a Continuous Improvement mind set.
- Ensures effective departmental performance through the selection, development, deployment and motivation of staff.
- Manages the preparation of monthly, quarterly and year-end financial reports relating to profit & loss, balance sheet, cash flow, aging analysis for inventory and reconciled inter-company statement of accounts.
- Provides accurate, comprehensive and timely information regarding the financial status of the company through the utilization of accounting concepts, principles and procedures.
- Coordinates annual audit with internal and external auditors by coordinating provision of information required, clarifications required, etc. to ensure that the year-end audit package is accurate.
- Supervises the reviews of the chart of accounts. Studies and recommends changes to the chart of accounts if necessary.
- Develops and maintains internal control procedures, and implements an efficient reporting system.
- Plans and directs activities related to the development, consolidation and implementation of corporate and business departments annual budgets for presentation to the executive committee.
- Guides accounting in cash flow management to ensure that all payments to corporate employees, suppliers, banks and contractors are made on time.
- Ensures proper planning and management of the company's short-term disbursements and long term cash flow requirements and keeps top management informed about the availability of funds currency rates and fluctuation in currency, etc.
- Advices top management on capital structure options for the company and departments in order to achieve the lowest cost of capital.
- Maintains relationships with banks and other (governmental / non-governmental) lending institutions to ensure that the company is current on all opportunities.
- Ensures local and international tax compliance including Customs duties, withholding Taxes and preparation for the implementation of VAT in 2018.
- Maintains knowledge of Finance & Accounting theory through attending conferences, courses and following up with global Finance & Accounting advancements. Anticipates the impact on the business and prepares in advance.
- Executes the responsibilities of a Finance & Accounting Director according to lawful and ethical standards.
- 15+ years of PQE experience including at least 3 in the role of leading a finance function. Middle East experience highly desirable
- Previous experience of FMCG/Retail/Food would be desirable
- Highly commercial with regard to optimising sales, minimizing costs and balancing risks
- Demonstrable success building and developing finance functions
- Successful implementation of an ERP system (Microsoft Dynamics desirable)
- Successful track record in M&A
- Accountancy qualification from internationally recognised body
- Previous exposure to KSA preferable but not mandatory
Up to 55,000aed per month DOE + Bonus, Medical & Flights
Gate Village 1, Level 1