Financial Operations Specialist

17 hours ago


Riyadh, Ar Riyāḑ, Saudi Arabia FNRCO Full time
Job Description

We are seeking a highly skilled Financial Operations Specialist to join our team at FNRCO.

Key Responsibilities:
  • Automation and Reporting: Assist in the preparation and validation of regulatory reporting and financial reporting functions within the Finance Department.
  • SAMA Returns and MIS: Help prepare and validate periodical SAMA returns, Internal Management Information Systems (MIS), and Head Office Reporting Packs.
  • Accounting Manual: Draft and validate the Accounting Manual to ensure compliance with regulatory requirements.
  • Performance Monitoring: Develop Standard Operating Procedures (SOPs) for management to monitor and control performance against budgeted targets.
  • General Ledger Maintenance: Maintain the balance of the General Ledger and reporting codes to achieve the established MIS structure.
  • Regulatory Compliance: Assist in preparing and validating regulatory returns to the Chief Financial Officer (CFO) to ensure accuracy and compliance with prudential return guidelines and banking control laws.
  • Head Office Reporting: Assist in preparing and validating the Head Office Reporting Pack to the CFO to ensure accuracy and adherence to timelines.
  • Branch Budget Preparation: Provide assistance to the CFO in preparing branch budgets, including forecasts, projected cash flows, financial performance, capital expenditures, and operating expenses.
  • Accounting Procedures: Develop accounting procedures for new products and update the Bank's Accounting Manual accordingly.
  • Day-to-Day Accounting: Validate day-to-day accounting of expenses, including routine month-end entries for depreciation, expense provisions, and advise other departmental staff on the appropriate accounts to be affected.
  • SAMA Return Validation: Check the accuracy of data on automated SAMA returns produced by the system to ensure balances agree with the Bank's General Ledger.
  • Fixed Assets Administration: Prepare and control the administration of the Bank's fixed assets and allocate depreciation charges to Profit & Loss of the Branch.
  • Accounting for New Products: Implement accounting procedures for new products, bookkeeping outstanding balances, and related income/expenses in appropriate Balance Sheet and Profit & Loss categories.
  • Financial and Other Reporting: Validate and monitor financial and other financial reporting.
  • Financial Control and Accounting Systems: Assist the CFO in managing the financial control and accounting systems.
  • Financial Advisory: Identify the Company's financial needs and provide advisory support to the CFO in preparation of financial budgets.
  • Rectification of Accounting Issues: Review and advise rectification of general accounting, cash management, and financial activities of the branch.
  • Financial Risk Control: Recommend, implement, and develop policies and processes to ensure adherence to measures aimed at controlling financial risks.
  • Additional Responsibilities: Perform any other job-related tasks pertaining to the finance function as assigned by management.


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