Finance Director

3 weeks ago

Riyadh, Saudi Arabia Kapsarc Full time

**Position Summary**:
To direct and oversee the effective development and implementation of KAPSARC’s financial strategies, policies, and procedures, in order to provide financial support and accounting services to the business, ensure that the financial and accounting processes are carried out in line with KAPSARC’s business objectives, and ensure compliance with relevant laws, regulations, and standards.

**Major Accountabilities**:
**Strategy and Plans**
- In conjunction with the Finance and Operations VP, formulate and direct the implementation of the KAPSARC's strategy in line with vision, mission, and corporate objectives.
- Ensure that the overall business strategy is translated into annual operational business plans for the function and the performance is monitored to ensure business plans are in line with the overall strategy.

**Financial Plan and Model**
- Partner with the leadership team to set-up financial systems, policies, and procedures, to ensure reflecting the business needs and compliance to laws, regulations, and standards.
- Lead the continuous monitoring and updating of the financial model and plan, in order to ensure that variances are identified and corrected in a timely manner.

**Financial Forecasting and Budgeting**
- Direct the development of KAPSARC’s annual budget and quarterly financial forecasting, in order to ensure the financial forecasting and budgeting are carried out as accurately as possible.
- Lead the monitoring of any variances from the approved budget on a monthly basis, in order to ensure that areas of variances are identified, rectified promptly, and corrective actions are implemented as needed.

**Financial Performance Review**
- Guide the leadership team on P&L analysis, revenue and cost forecasting, and review of costs and expenses, to ensure adequate analysis and financial advise are provided when required.
- Oversee the revenues of KAPSARC’s projects, within the constraints of the agreements, in order to ensure necessary action is taken in case of differences.

**Treasury and Funding**
- Direct the management of cash and identification of treasury requirements for KAPSARC, including cash forecasts, maintaining optimal cash balances, supervising cash payment cycles, negotiating trade finance agreements (Bank guarantees, bonds, etc.), and managing banking relationships.

**Financial Transactions and Accounts Management**
- Direct KAPSARC’s finance and accounting processes, ensuring that all activities are carried out in compliance with relevant financial processes and standards.
- Lead the management of KAPSARC’s tax filings, tax planning, and tax compliance, in order to ensure compliance with the local taxation policies and the tax structure defined for KAPSARC.
- Provide overall direction and guidance on developing and implementing KAPSARC’s financial risk and governance framework, and regularly oversee the compliance to the framework, in order to ensure the practices are adhered to and there is proper governance and control in all financial and accounting related matters.
- Partner with key stakeholders to monitor financial, legal, and administrative clauses of KAPSARC’s projects and finance contracts, and follow up on the covenants and potential events of default under the agreement in order to ensure all contractual compliance.

**Audit Management**
- Partner with key stakeholders to manage the annual audit process for KAPSARC to ensure timely completion of financial audits/ reviews to align with standard reporting timelines.
- Act as main contact point for audit committees/ auditors, to ensure that any queries are answered in a prompt and efficient manner and the highlighted weaknesses are worked upon and enhanced as per their recommendation.

**Financial Reporting**
- Oversee the preparation of monthly, quarterly and annual financial statements including expenditures statement, variances against budget, income statement, balance sheet, cost center reports, etc. for key stakeholders, in line with international financial reporting standards and local accounting legislation.

**People Management**
- Provide overall direction for the effective achievement of objectives through effective leadership by setting of individual objectives, managing performance, and mentoring and developing team to maximize performance and learning.

**Performance Management**
- Ensure proper cascading and implementation of the functional objectives and implement monitoring mechanisms to assess progress and promote a performance driven culture.

**Innovation and Continuous Improvement**
- Lead the management of change through continuous improvement of functional systems, processes and practices considering global standards and changes in the business environment.

**Policies, Systems, Processes and Procedures**
- Direct the development and oversee the implementation of functional policies, systems, processes, procedures, and controls so that all relevant procedural/

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