Job Summary:
A large family-owned conglomerate based in Dammam has a vacancy for a Financial Controller position.
The Group Financial Controller's role is to monitor and improve the implementation of the Group's processes and controls to ensure the proper implementation and achievement of required objectives of such processes and controls in order to ensure high financial standards, minimized financial risks, accurate and reliable financial transactions within the Group corporate policies, procedures, auditors requirements and the governmental regulations.
Reports to: Group CFO
Supervises: Group Financial Analyst - Group Chief Accountant
Key Roles & Responsibilities:
1- Strategic Planning
• Assist Group CFO in reviewing business processes with the Group Finance Managers, to identify actual / potential weaknesses in the processes.
• Work with the Group Finance Managers / Chief Accountants to identify processes, which are not cost effective with a view to reduce costs.
• Work with the Group CFO on projects that will lead to overall corporate efficiency.
• Whenever possible, assist operations team in the identification for cost reductions and operational improvements.
2- Daily Operations
• Implement the day-to-day operations assigned for the Group Financial Control section to ensure compliance with the established standards and procedures.
• Monitor the implementation of approved finance policies & procedures for the Group and coordinates with Finance Managers / Chief Accountants to improve the implementation of such policies and procedures.
• Report of any significant deviations in the implementation of finance policies and procedures directly to Group CFO.
3- Monthly / Quarterly Financial Reporting
• Manage the preparation of and submit group monthly and quarterly accurate financial reports by 15th from the following month and discuss with each finance manager in the group in order to agree on the abnormal variances & differences justifications and to agree with each finance manager for recovery action plan for negative variances against the budget.
• Report to the management potential issues affecting expenses and cash flows & potential cost in the group
• Review and examine financial statements before submitting to external auditors for review to ensure correctness and timeliness of reports
4- Budgeting
• Planning of Group budgeting process and to initiate and submit the budget plans in the month of October every year to the GCFO
• Monitor the financial performance of the Financial Reporting and Budgeting section against budgets so that areas of unsatisfactory performance are identified and rectified promptly and potential performance improvement opportunities are capitalized upon
5- Financial Control Management
• Monitor internal processes of the finance and other operational departments, recommendation of changes to improve operations (if required).
• Contribution in improvement of financial management and controls by evaluating and remodeling financial systems and ensures their compliance with Company’s objectives.
• Initiation of any new required financial policies and procedures for development and creation, and any required improvements in accounting systems to improve internal control.
• Coordinate and act as the focal point of contact between the Group and external auditors with regards to observations and action plans.
• Ensure issuing of group audited financial statements on timely basis as per agreed plans with the group external auditor.
• Any other corporate finance assignment provided by GCFO according to core business needs.
6- Direction of Subordinates
• Organize and supervise the activities and work of a small team of subordinates to ensure that all work within a specific area of financial processes and control activity is carried out in an efficient and procedurally compliant manner.
• Provide formal and informal feedback to subordinates in order to ensure their continuous development.
7- Policies & Procedures
• Monitor the Implementation of approved policies, processes, procedures and provide instructions to the Group Finance Managers’ and monitor their adherence so that work is carried out in controlled manner.
8- Safety, Quality & Environment
• Comply with all relevant safety, quality and environmental management policies, procedures and controls to ensure a healthy and safe work environment.
Job Details
| Posted Date: | 2018-11-08 |
| Job Location: | Dammam, Saudi Arabia |
| Job Role: | Accounting and Auditing |
| Company Industry: | Retail/Wholesale |
Preferred Candidate
| Career Level: | Management |
| Gender: | Male |
| Degree: | Bachelor's degree |
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