Residential Finance Manager - Fo...
Riyadh, Saudi Arabia
Residential Finance Manager - Four Seasons Resort at The Red Sea, Saudi Arabia
Riyadh, Saudi ArabiaPosted 11 hours ago1 open position
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Job Description
About the location
Soon to be one of the region’s foremost luxury beachside destinations, The Red Sea will comprise of the idyllic natural islands and lagoons across 200 kms of coastline along the western coast of the Kingdom of Saudi Arabia, between the cities of Umluj and Al Wajh.
The new Four Seasons Resort will be located on Shura Island, the hub of the development and home to a yacht marina, leisure and lifestyle facilities, retail offerings, 18-hole golf course and more.
The Red Sea destination is being built with sustainable practices and tourism at its core, with the masterplan being informed by an impressive marine spatial planning simulation to model the environmental impact of development and operations to minimize over-tourism while providing guests with an exceptional travel and lifestyle experience.
The destination will also rely on renewable energy and will only develop a small portion of the islands with expansive dedicated conservation zones.
The new Four Seasons Resort will offer approximately 149 rooms and suites, all with uninterrupted views over white sand beaches and crystal-clear waters.
The property will also feature six restaurant and lounge outlets, meeting and events spaces, a marine discovery centre, Kids for All Seasons space and much more.
Whether looking for rest and relaxation or sport and water activities, there will be something for everyone, including a full-service spa with a hammam, tennis courts, three outdoor pools with cabanas, and two separate beaches for families and adults perfect for soaking in the sun or diving down to explore the coral reefs.
Responsibilities
The Residential Finance Manager/Assistant Director of Finance is responsible for the safeguarding of the residence asset and financial resources to ensure that the homeowner’s interests are protected whilst maintaining the reputation of Four Seasons as the property manager.
Ensure that the residences are operated as stipulated in the project governing documents and Four Seasons Management Agreements.
Assist the Director of Residences in the administration of all financial aspects of the Residential Operation, to ensure that all local and corporate policies and procedures are observed and to ensure the financial and legal integrity of the business is maintained.
The Residential Finance Manager / Assistant Director of Finance plays a key leadership role in overseeing financial operations for residential services, ensuring compliance, accuracy, and efficiency in financial reporting, budgeting, and analysis.
This role acts as a strategic partner to the Director of Finance and assists in guiding financial decision-making to support the organization’s residential programs.
Tasks
Monitor the status of the Accounts Receivable aging and billing collection of service charges and other charges as aligned with the governing documents and local standards while maintaining adequate cash flow.
In conjunction with the Corporate Risk Management team, ensure that adequate insurance coverage is procured on both a global and local basis.
Prepare allocation methodology between residences and common areas in accordance with governing documents, local legislation and common practice in the marketplace for a similar level of luxury residential developments.
Ensure that monthly reconciliations for all balance sheet accounts are prepared and signed off in accordance with policy, with special attention paid to the bank accounts.
Review all purchase orders for alignment with service charge budget.
Prepare the annual service charge budget
Attend/present at Board and/or Member meetings.
Prepare all sales and use tax returns and any other reporting that is required by local legislation on time and accurately.
Maintain a capital reserve account for the replacement of FF&E, plant and machinery and be actively involved in the longer-term planning for the replacement of the infrastructure as appropriate and/or in compliance with the governing documents including a third party reserve study if applicable.
Monitor and control expenses of the residences to ensure that the service charge budget is always respected.
Additional Responsibilities
Preparation of comprehensive monthly report of the entire financial results of the residences in established corporate formats and in accordance with the governing documents, Four Seasons Management Agreements and generally accepted accounting principles.
Ensure that financial statements, corporation tax returns, etc.
are prepared and completed by a third-party audit firm, in accordance with local requirements.
Assist with labour meetings and ensure labour model is efficient and appropriate for residence occupancy throughout the year.
Maintain files on all contracts, leases and agreements and ensure compliance with their requirements, ensure proper authorisation has been obtained for all residence specific contracts, and other agreements and competitive bids are on file.
Proactively suggest ways to reduce costs and look to implement such savings on an on-going basis.
Coordinate, observe and prepare all operating equipment and supply inventories in accordance with corporate policies.
Maintain internal controls and financial procedures that align with organizational policies and industry best practices.
Skills And Competencies
Working technical knowledge of generally accepted accounting principles and job knowledge of all positions in accounting and purchasing.
These should include but not limited to accounts payable, credit management, cashiering function, and complete understanding of the general ledger.
Strategic, analytical and have solid business acumen.
Strong reading comprehension and competency in legal language reading comprehension.
Excellent excel and computer skills, Sun Accounting and Opera knowledge would be preferable.
Proven leadership skills in a residences/hotel/resort environment.
Excellent written and verbal communication skills to prepare and deliver reports, effective presentations and to facilitate meetings.
Applies an ethical and moral approach to influence the outcome of situations.
Serve as a role model for others by demonstrating appropriate business conduct and ethical principles
Strong interpersonal and relationship building skills to work with cross-functional teams negotiate for resources and influence stakeholders and to gain acceptance of and commitment to plans, ideas, and initiatives as appropriate.
Qualifications
University Degree - Bachelor’s degree in finance, Accounting, Business Administration, or a related field (master’s preferred).
Minimum of 5 years of progressive financial management experience, preferably in residential, or nonprofit settings.
Key Relationships
Director of Residences
Regional Director of Finance/Director of Finance
Residences Owners/Asset Managers
Homeowner Associations (where applicable)
Third Party Professionals – Bankers, Lawyers, Auditors etc
Soon to be one of the region’s foremost luxury beachside destinations, The Red Sea will comprise of the idyllic natural islands and lagoons across 200 kms of coastline along the western coast of the Kingdom of Saudi Arabia, between the cities of Umluj and Al Wajh.
The new Four Seasons Resort will be located on Shura Island, the hub of the development and home to a yacht marina, leisure and lifestyle facilities, retail offerings, 18-hole golf course and more.
The Red Sea destination is being built with sustainable practices and tourism at its core, with the masterplan being informed by an impressive marine spatial planning simulation to model the environmental impact of development and operations to minimize over-tourism while providing guests with an exceptional travel and lifestyle experience.
The destination will also rely on renewable energy and will only develop a small portion of the islands with expansive dedicated conservation zones.
The new Four Seasons Resort will offer approximately 149 rooms and suites, all with uninterrupted views over white sand beaches and crystal-clear waters.
The property will also feature six restaurant and lounge outlets, meeting and events spaces, a marine discovery centre, Kids for All Seasons space and much more.
Whether looking for rest and relaxation or sport and water activities, there will be something for everyone, including a full-service spa with a hammam, tennis courts, three outdoor pools with cabanas, and two separate beaches for families and adults perfect for soaking in the sun or diving down to explore the coral reefs.
Responsibilities
The Residential Finance Manager/Assistant Director of Finance is responsible for the safeguarding of the residence asset and financial resources to ensure that the homeowner’s interests are protected whilst maintaining the reputation of Four Seasons as the property manager.
Ensure that the residences are operated as stipulated in the project governing documents and Four Seasons Management Agreements.
Assist the Director of Residences in the administration of all financial aspects of the Residential Operation, to ensure that all local and corporate policies and procedures are observed and to ensure the financial and legal integrity of the business is maintained.
The Residential Finance Manager / Assistant Director of Finance plays a key leadership role in overseeing financial operations for residential services, ensuring compliance, accuracy, and efficiency in financial reporting, budgeting, and analysis.
This role acts as a strategic partner to the Director of Finance and assists in guiding financial decision-making to support the organization’s residential programs.
Tasks
Monitor the status of the Accounts Receivable aging and billing collection of service charges and other charges as aligned with the governing documents and local standards while maintaining adequate cash flow.
In conjunction with the Corporate Risk Management team, ensure that adequate insurance coverage is procured on both a global and local basis.
Prepare allocation methodology between residences and common areas in accordance with governing documents, local legislation and common practice in the marketplace for a similar level of luxury residential developments.
Ensure that monthly reconciliations for all balance sheet accounts are prepared and signed off in accordance with policy, with special attention paid to the bank accounts.
Review all purchase orders for alignment with service charge budget.
Prepare the annual service charge budget
Attend/present at Board and/or Member meetings.
Prepare all sales and use tax returns and any other reporting that is required by local legislation on time and accurately.
Maintain a capital reserve account for the replacement of FF&E, plant and machinery and be actively involved in the longer-term planning for the replacement of the infrastructure as appropriate and/or in compliance with the governing documents including a third party reserve study if applicable.
Monitor and control expenses of the residences to ensure that the service charge budget is always respected.
Additional Responsibilities
Preparation of comprehensive monthly report of the entire financial results of the residences in established corporate formats and in accordance with the governing documents, Four Seasons Management Agreements and generally accepted accounting principles.
Ensure that financial statements, corporation tax returns, etc.
are prepared and completed by a third-party audit firm, in accordance with local requirements.
Assist with labour meetings and ensure labour model is efficient and appropriate for residence occupancy throughout the year.
Maintain files on all contracts, leases and agreements and ensure compliance with their requirements, ensure proper authorisation has been obtained for all residence specific contracts, and other agreements and competitive bids are on file.
Proactively suggest ways to reduce costs and look to implement such savings on an on-going basis.
Coordinate, observe and prepare all operating equipment and supply inventories in accordance with corporate policies.
Maintain internal controls and financial procedures that align with organizational policies and industry best practices.
Skills And Competencies
Working technical knowledge of generally accepted accounting principles and job knowledge of all positions in accounting and purchasing.
These should include but not limited to accounts payable, credit management, cashiering function, and complete understanding of the general ledger.
Strategic, analytical and have solid business acumen.
Strong reading comprehension and competency in legal language reading comprehension.
Excellent excel and computer skills, Sun Accounting and Opera knowledge would be preferable.
Proven leadership skills in a residences/hotel/resort environment.
Excellent written and verbal communication skills to prepare and deliver reports, effective presentations and to facilitate meetings.
Applies an ethical and moral approach to influence the outcome of situations.
Serve as a role model for others by demonstrating appropriate business conduct and ethical principles
Strong interpersonal and relationship building skills to work with cross-functional teams negotiate for resources and influence stakeholders and to gain acceptance of and commitment to plans, ideas, and initiatives as appropriate.
Qualifications
University Degree - Bachelor’s degree in finance, Accounting, Business Administration, or a related field (master’s preferred).
Minimum of 5 years of progressive financial management experience, preferably in residential, or nonprofit settings.
Key Relationships
Director of Residences
Regional Director of Finance/Director of Finance
Residences Owners/Asset Managers
Homeowner Associations (where applicable)
Third Party Professionals – Bankers, Lawyers, Auditors etc