Financial Director

1 day ago

Riyadh, Ar Riyāḑ, Saudi Arabia أوقاف للإدارة والخدمات العقارية Full time

The Director of Finance will lead and oversee the effective and efficient management of the Finance function for ARMS (Awqaf for Real Estate Management and Services). This role entails providing strategic direction and financial planning, setting goals, and developing policies and guidelines. The Director will be responsible for financial and non-financial reporting to facilitate the achievement of business objectives aligned with the company's vision, mission, and business plan. Furthermore, the Director will collaborate with the finance department of AIC (Awqaf Investment Company) to ensure alignment on all financial reporting requirements.

Core Responsibilities:

  • Manage the review and development of annual budgets and quarterly financial forecasts for various functions and projects. Collate results to form the overall budget and capital requirements, ensuring accuracy in budgeting and forecasting.
  • Oversee coordination with external stakeholders (auditors, regulatory bodies, etc.) and the finance department of AIC to understand statutory reporting requirements. Develop robust reporting systems and processes aligned with statutory accounting policies and procedures, ensuring compliance with KSA laws and regulations.
  • Direct the timely and accurate formulation of all financial statements and annual reports to meet regulatory commitments.
  • Manage all aspects of the collections process for ARMS, including developing policies and procedures, engaging with tenants, and reaching financial resolutions. Ensure collections are received timely and in accordance with contractual obligations, working closely with the Real Estate and Branches departments.
  • Oversee the coordination and activities of independent external auditors, ensuring all audit issues are resolved, compliance requirements are met, and financial statements are prepared within deadlines for listed companies.
  • Oversee the design, implementation, and management of tax-related information and processes to ensure alignment with statutory requirements.
  • Ensure that all management reports are completed comprehensively, accurately, and timely, complying with international corporate governance principles and AIC requirements. Present regular and ad-hoc management reports to the CEO, providing recommendations and highlighting critical issues and challenges.
  • Leverage the support of AIC's finance department during initial development stages, and collaborate effectively once established to provide any financial reporting required by AIC and the General Authority of Awqaf.
  • Oversee the implementation and optimization of financial management systems and technologies within ARMS.
  • Lead the identification, assessment, and mitigation of financial and operational risks for the organization, including internal controls, fraud prevention, and business continuity planning.
  • Lead the formulation of the strategy for the Finance division, ensuring alignment with ARMS's mandate and broader organizational objectives.
  • Ensure that the overall strategy is translated into annual operational business plans for the Finance division, monitoring performance annually to ensure alignment with the overall strategy.
  • Direct the development and implementation of division policies, systems, processes, procedures, and controls to fulfill all relevant procedural and legislative requirements while delivering quality, cost-effective services consistently.
  • Oversee the preparation and consolidation of the division's budget, monitoring financial performance against the budget. Ensure the business is aware of anticipated costs and revenues, and identify areas of unsatisfactory performance and potential improvement opportunities.
  • Ensure effective and continuous performance monitoring for the respective department, enabling ARMS to anticipate challenges and identify potential performance improvement opportunities.

Qualification & Experience:

  • Bachelor's degree in Finance or any other relevant field.
  • Professional qualification in accounting such as SOCPA, ACCA, CIMA, CPA, CA, CMA, or equivalent is preferable.
  • Minimum 8 years of experience in finance accounting or related field, with at least 5 years in a leadership role.
Seniority level

Director

Employment type

Full-time

Job function

Finance

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