Chief Financial Officer

Job Description : CFO KSA 20-25 years experience POWER UTLITY COMPANY 2 2. Major Duties & Responsibilities · Assist the CEO in setting Company’s strategic goals, objectives, guidelines, plans, and budgets toenhance Company’s market share, exposure, and profitability as well as ensuring that they are communicated promptly to all functions and that functional heads are working towards achievement of these goals and objectives. · Develop the Finance & Accounting department and related function’s objectives, plans, policies & procedures and ensure their implementation across the department as well as their compliance with local and international regulations and standards. · Review the operating results of the Finance & Accounting department and compare them to established objectives and goals, and follow-up to ensure appropriate measures are taken to correct unsatisfactory results. · Develop the Finance & Accounting's annual budget and ensure all employees are working towards achievement of the division's goals and objectives within the assigned budget by setting the required targets and responsibilities upon subordinates Financial Accounting: · Direct the preparation of Zakat and Tax certificate and ensure all enquiries and concerns of the Department of Zakat & Tax (DZIT) are dealt with. · Ensure there are adequate audit trails in order to be able to track a transaction from beginning to end and identify errors if there are any. · Direct the main activities in the financial accounting function which include: o General Ledger o Accounts Receivable o Fixed Assets o Account Payable o Payroll · Oversee the activities related to the general ledger, accounts receivable, fixed assets, accounts payable, and payroll and ensure the integrity of the related processes are adhered to and meet the strategic goals of Company. · Review the reconciliation between General Ledger accounts and Sub-Ledgers performed by the Financial Controller, and instruct on action to be taken for unresolved variances in reconciliation. · 3 Financial Accounting: (Cont’d) · Perform disposals, write-offs, and sales of fixed assets and supervise the execution of any of the activities. · Review payroll summaries and advise on best course of action or alterations if necessary. · Direct the periodic reviews of the chart of accounts, and recommend any changes to the CEO. · Oversee the period-end close process, ensuring its completion in a timely and accurate manner. Management Accounting: · Ensure that the financial planning, analysis and budgeting activities are in line with Company’s strategic objectives. · Review the management reports and the related analysis reports created by the Chief Management Accountant and investigate areas that require attention. Provide feedback and advice on best course of action to rectify situation if one exists. · Direct the development of financial models that serve to support the financial planning process. · Set the provisional timetable to be followed for the budget process. · Direct the design and preparation of the budget forms, models and templates to be used in the budgeting process to enhance the budget techniques and procedures. · Direct the preparation of the combined annual master budget for Company including capitalexpenditure, operating expenditure, and workforce planning budgets. · Direct the compilation, review and preparation of the budgeted Financial Statements (income statement, balance sheet and cash flows statement). · Monitor effective implementation of and compliance to the approved budget (tracking, variance analysis, reporting, etc…). · Direct the preparation of variances report (Actual vs. Budget) · Present the monthly performance management reports to the CEO, highlight areas that require attention, and propose initiatives and recommendations for corrective actions. 4 Cash Management: · Establish and manage relationships with domestic and international financial institutions and banks. · Direct and oversee Company’s cash position to optimize its liquidity position and oversee thepreparation of Company’s Cash Flow position on a daily, weekly, and monthly basis. · Direct and oversee Company’s cash management activities which cover reconciliation of bank statements, clearing payment and receipts transactions within the system, and depositing cash or cheques at the bank. · Direct and validate the disbursement of funds and payments for Company including the transfer offunds between Company and its customers. · Direct Company’s loans and interest payments by ensuring loan instalments are paid on time andtracked accordingly. · Determine Company’s borrowing requirements, evaluate the different options in order to choose ones that are beneficial to Company’s interests, and negotiate with banks for facilities (Loans, LG’s /LC’s). · Direct Company’s short term cash investments (ex. money markets, time deposits, etc…). Project Accounting: · Direct project accounting activities through reviewing the financial reports that are particularly designed to track the financial progress of projects, which can then be utilized by Company’s management in order to support project management activities. · Review project costs and ensure that transactions have been recorded properly and accurately. · Ensure the proper generation of financial reports in order to be able to accurately track the financial progress of projects. · Investigate cost variance issues that have been raised and figure out an explanation or a solution if necessary. · Analyze cost data to gain a deeper understanding of project costs and how they can be decreased if possible. Chief Financial Officer CFO – Saudi Arabia (Jeddah) Please apply greenglobex5@gmail.com 5 3. Managerial Responsibilities · Provide advice, guidance, direction, and authorization to functional heads to carry out major plans and procedures, consistent with established policies. · Communicate and discuss department guidelines and procedures with employees to ensure responsibilities, authorities and accountabilities for all employees are defined and understood. · Conduct annual performance appraisal to review functional heads performance, and recommend salary adjustments, rewards and promotions based on Company’s performance. · Monitor the adherence of the functional heads to Company’s guidelines, policies and procedures. · Perform other duties related to the job as assigned by the CEO. 4. Required Competencies The following competencies must be met and practiced on a continuous basis: Core & Behavioural Competency Proficiency Level Basic Competent Advanced Customer Focused ü Innovation & Excellence ü Interpersonal Skills ü Leadership Skills ü Negotiation & Persuasion ü Organizing & Planning ü Partnering & Relationship Building ü Problem Solving ü Strategic Planning & Thinking ü Teamwork ü Functional Competency Proficiency Level Basic Competent Advanced Budgeting & Forecasting Cost Accounting ü Cash Management ü Finance & Accounting ü Financial Management ü Chief Financial Officer 6 CFO – Saudi Arabia (Jeddah) Please apply greenglobex5@gmail.com Functional Competency Proficiency Level Basic Competent Advanced Financial Planning & Analysis ü Financial Reporting ü Payroll Accounting ü Project Accounting ü 5. Qualifications · Bachelor’s degree in Accounting, Finance or equivalent degree with a minimum of 12 years of related experience. · Management-level experience is required (5+ years). · Professional certificate (i.e. CPA, CMA, CFA or CA) is preferred. · Considerable knowledge and practical experience in International Accounting Standards (e.g. IFRS) and SOCPA (Saudi Organization for Certified Public Accountants). · Proficiency in both English and Arabic languages. About The Company: Client is specialized in the field of power transmission and distribution. We design and execute projects in all fields of EHV and fiber optic underground cables, substation and power plant works. Expert teams of engineers execute turnkey projects as well as custom services throughout Saudi Arabia and the MENA region

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