Saudi Chief Accountant
3rd August 2017
Finance & Accounting
The role of Chief Accountant will require effective management of finance operation, and to provide financial and management information to the CFO.
Treasury Role & Responsibilities
- Handling all bank accounts of the company & ensures the efficient management of company's bank accounts.
- Preparing an ongoing cash forecast by compiling information through all departments.
- Preparing daily cash position report.
- Reconciling bank statements against the GL, and clearing unreconciled items.
- Reviewing the corporate policies related to working capital, and model their impact on cash flows.
- Creating a system for funneling cash into a centralized investment account, from which cash can be most effectively invested depending on the rates of return and how quickly it can be converted into cash.
- Assists in determining the need of additional cash, and raise funds through the acquisition of debt or changes in company policies that impact the amount of working capital required to run the business.
- Responding to any bank inquiries related to funding arrangements.
- Providing the senior management team with all required treasury reports.
- Negotiation with banks for the best rates on the deals and providing a comparative summary of rates offered by different banks.
Accounting Role & Responsibilities
- Booking expense vouchers in accounting system on daily basis and ensures the allocation of expenses to the cost centers.
- Opening new GL Accounts and ensuring that the accounts are opened under the correct structure.
- Managing Receivables & Payables by generating aging reports and follow up with concerned departments if needed.
- Following up with Collection department for the due collections in order to avoid unnecessary provisions.
- Making sure that all outstanding dues are paid on a timely basis and ensuring the proper approvals & proper documentation.
- Managing Prepaid expense schedules & Accruals and notifying management for the expiry of contracts.
- Managing Fixed Asset Registers and making sure that all required information is available before booking it into the system.
- Maintaining a schedule for all the vendor contracts and updating on a frequent basis.
- Weekly review of Trail Balance and identifying the mistakes in Journal Vouchers.
- Participate in monthly closing activities, i.e. Reconciliation of technical accounts, Balance confirmations, e.t.c.
- Assists in Preparation of Monthly Management Accounts and compiling balance sheet & income statement schedules to support all entries.
Reporting & Budgeting Role & Responsibilities
- Preparing SAMA Prudential Returns on Quarterly Basis.
- Preparing Budgeted Vs Actual Analysis and identifying the reason of variances.
- Assists in updating budget on a Quarterly basis.
- Assists in preparation of Analytical reports for facilitating the decision-making process.
- Assists in preparation of Branch wise & Profit Center wise Income & expenditure analytical reports to identify loss-making channels.
- Any other reports required by the management.
Internal Controls & System enhancements
- Assists in developing and updating Policies & Procedures of Finance Department
- Identifying gaps between operational activities and IFRS
- Identifying daily issues in Finance Department and proposing the solutions
- Assists in minimizing Internal Audit findings and putting a proper control to avoid those findings in future
- Identifying the need of MIS reports & data through system and putting a strong follow up over the development of those reports
- Assists in implementation of Accounting application and identifying the need of internal controls, i.e. Workflow