Skills And Tools:
- Execute the financial strategic plans of the business unit through managing the financial planning and providing guidance on financial processes such as; budgeting, variance analysis, and accounting to ensure that the business unit’s functions implement the required financial control as per the related standards and provide accurate and timely financial information to support the decision-making.
- Manage the business unit financial management team by setting functional plans, organizing work activities, providing guidance, and monitoring performance versus plan to ensure that work activities are carried out efficiently and in a procedurally compliant manner.
Leadership and Development
- Ensure that business unit financial management teams receive adequate training and development activities, in coordination with HR teams, using effective methods such as demonstrations, on-the-job training, courses, workshops, etc. to meet employees’ training needs, minimize mistakes and achieve performance targets.
- Lead the forecasting and estimation of resource requirements for financial and accounting activities in the business unit to ensure robust resource allocation and ensure enforcing accurate accounting control.Policies, Systems, Processes, Procedures, Standards and Reports
- Lead the development of the business unit financial management policies, systems, processes and procedures to ensure the consistent application and ease of operations for subordinates and ensure the alignment to international accounting practices such as the International Financial Reporting Standards (IFRS) and Saudi Organization for Certified Public Accountants (SOCPA).
- Review reports submitted by business unit financial management employees, highlighting major accomplishments, issues and actions that were taken against them to ensure that the conclusions and recommendations are accurately and concisely noted.
- Lead the preparation and consolidation of business unit budget, monitor the business unit expenditures according to the allocated budget, and conduct variance analysis to assess the business unit financial performance to ensure controlling the business unit costs.
- Manage the revenue forecasting for the business unit from current and potential revenue channels to identify sustainable growth drivers and provide recommendations on the business unit’s financial model.
- Lead the preparation of financial planning and monitoring plans, schedules, budgets and subsequent cost estimates and controls to ensure the optimal utilization of resources as well as ensure adherence to the set plans and schedules for the business unit.
- Ensure the enforcement of financial policies and procedures for all transactions and accounting processes in the business unit such as Generally Accepted Accounting Principles (GAAP) to ensure applying sound processes and avoid any regulatory violations.
Financial Statements and Reports
- Lead the preparation of financial statements and reports of the business unit by ensuring the accurate recording of revenues, expenses, commissions, etc. to monitor the business unit’s performance against financial goals including revenue, costs and cash flow and highlight alarming numbers.
- Prepare critical financial reports and ad-hoc analysis for relevant stakeholders such as the Finance and IT Director to ensure reporting accurate and timely information about the business unit’s financial position and support the decision-making process.
- Lead and facilitate general accounting processes, including accounts payable, accounts receivable, general ledger, and books reconciliations of the business unit, to ensure the financial integrity of the financial statements such balance sheet, cash flow and income statement of the business unit.
- Review accounting processes and systems including journal entries, account reconciliations, and general ledger transactions in terms of adequacy and quality of the processes in monitoring costs to recommend adjustments and financial controls to ensure controlling expenditures.
- Lead the development and maintenance of accounts payable within the business unit and other statutory reserves to ensure the timely and accurate processing of accounts payable operations.
- Manage the approval and processing of revenue, expenditure, functional budgets, account maintenance and data entry to ensure identifying and highlighting potential weak areas.
- Review critical journal entries and final general ledger balances of the business unit, including conducting a periodic review of balance sheet reconciliations and accounts to ensure that any observed discrepancy is investigated and resolved.
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