Financial Analyst

2 weeks ago

Al Hufūf, Eastern Province, Saudi Arabia ITT, Inc. Full time

Position Summary:

Reporting directly to Financial Controller, the Financial Analyst shall be responsible for all areas relating to financial and Management Accounts at the facility.


Essential Responsibilities:

  • Oversee daytoday bookkeeping functions of the operations, including the preparation of local statutory accounts.
  • Maintenance of a clean set of balance sheet supporting records (called the ownership book), detailing every item on the Balance Sheets. The ownership book to be updated on a monthly basis.
  • Supervision of the reconciliation of all bank accounts and intercompany accounts every month end and to initiate the adjusting entries where appropriate.
  • Timely submission of all monthly financial reports as well as adhoc reports required by corporate headquarters, or as directed.
  • Inventory and Work In Progress. Ensure that the cost buildup of ongoing jobs reviewed regularly and to highlight to Controller & General Manager any potential overrun of job costs against the budgeted estimates.
  • Organizing and overseeing fixed assets physical verifications and well as the custody of inventory.
  • Ensuring that warranty reserves as well as excess and obsolescence reserves are adequate and made in accordance with ITT policy.
  • Preparation of the annual strategic plans and budget as well and regular updates of forecasts and cash flows or any other reports besides the monthly Balance Sheet and Profit and Loss statements, or as directed
  • Credit approval and control and debt collection, ensuring that Bad Debt reserves made in accordance with ITT policy.
  • Responsible for the documenting, updating and maintenance of hard and soft copies of all financial control narratives, flowcharts and Sarbanes Oxley Act (SOA) Control templates, including the uploading of most up to date SOA documentation onto the ITT Intranet.
  • Maintaining standard costing records.
  • Cost and Management Reports.
  • Submission of monthly commentary on the state of the business and performance of the unit each month end.
  • Billing to the customers according to the VAT requirement and passing the same to the concerned persons for dispatch and proper accounting.
  • Supervise review supplier invoices and other invoices with the PO and GRN.
  • Oversee due dates for supplier and service providers invoices and issuance of the payment to them on timely basis.
  • Maintenance of statistical report showing the monthly payment details for all the recurring payments like telephone, rent etc.
  • Ensure accuracy and reliability of SOARS data
  • Preparation of the annual strategic plans and budget as well and regular updates of forecasts and cash flows or any other reports besides the monthly Balance Sheet and Profit and Loss statements, or as directed
.

  • Preparation of MIS reports.
  • Preparation and submission or various statutory reports as per the requirement.

Position Requirements:

Education:

Bachelor's degree (or local equivalent) in Finance & Accounting or Economics. An advanced degree preferred.

Experience:

Minimum 10 years' experience in finance/cost accounting preferably with a multinational manufacturing company

Other Skills/Knowledge/Experience:

Excellent Computer literacy (MS Office, profound knowledge of Excel, One Stream, SAP & Power BI exposure would be considered an asset)

Knowledge of US GAAP and/or IFRS would be considered an asset

The incumbent must have a good command of English language. A second language (Arabic) would be a plus.

Excellent skills in financial analysis, analytical experience, problem solving.

Strong organizational skills.

PC skills including spreadsheet, presentation software and word processing are necessary.

Resistance to pressure & tolerance to tight deadlines

CORE COMPETENCIES = Our Principles in Action
Excellent communication skills - written and verbal.

Strong work ethic

Excellent analytical skills

Outstanding leadership and presentation skills

Global perspective

Initiative and good independent judgment

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