Accounting Chief

MAPA Insaat; Riyadh; On-site; SAR 150,000 - 200,000; Full time

Job summary

A leading engineering and construction company in Saudi Arabia is looking for an Accounting Chief to manage financial operations at their Riyadh office. The ideal candidate will have a strong accounting background, preferably in the construction sector, along with leadership skills. Responsibilities include financial reporting, compliance with regulations, and team management, ensuring efficient financial practices are maintained.

Qualifications

• Minimum 5 years of experience in accounting, preferably in construction.
• Strong understanding of Saudi accounting standards and IFRS.
• Fluency in English required; Arabic preferred.

Responsibilities

• Oversee daily financial operations and ensure accuracy of records.
• Prepare financial statements and manage payment cycles.
• Lead and mentor the accounting team.

Skills

Leadership

Analytical Thinking

Communication

Education

Bachelor’s degree in Accounting or Finance

CA, ACCA, CPA, or CMA

Tools

SAP

ERP systems

Job description

About Us:

At Mapa, we're a globally recognized engineering and construction company with a footprint that extends across three continents. Our unwavering commitment to excellence and relentless pursuit of quality and performance have set us apart as industry leaders. We're at the forefront of innovation in the engineering and construction landscape, redefining boundaries and consistently raising the bar for excellence.

Job Description:

In Saudi Arabia, Mapa is seeking an "Accounting Chief" to join our dynamic team at Riyadh Office. As an "Accounting Chief", you will be responsible for overseeing the day-to-day financial operations, assisting in payment processing cycle, cash, bank balance reconciliation and reporting, vendor and customer ledger reconciliation, leading a team of accountants. Your primary focus will be to ensure the accuracy and completeness of financial records, compliance with accounting standards, and efficient financial reporting. Timely and accurate filing of VAT and corporate tax returns based on effective financial reporting.

Responsibilities:

• Financial Reporting: Prepare, review, and analyze financial statements, budgets, and management reports in accordance with Saudi Arabian accounting standards and International Financial Reporting Standards (IFRS).
• Payment Cycle Supervision: Oversee the end-to-end payment process by collecting, organizing, and processing bulk payment data received from the project accounting team. Support the reporting Manager in executing timely and accurate payment transfers.
• Cash and Bank Ledger Management: Take full ownership of updating and reconciling cash and bank ledgers on a daily basis, ensuring accuracy of inter-company transfers between project sites and head office. Report daily closing balances to the reporting Manager.
• Monthly Cash Budgeting: Assist in the preparation of monthly cash budgets and realization reports for various projects, ensuring alignment with SAP Work Breakdown Structure (WBS) and coding framework.
• General Ledger Maintenance: Maintain the integrity of general ledger accounts by performing regular reconciliations of vendor, customer, and GL accounts. Review and oversee journal entries and adjustments in the SAP system.
• Financial Analysis: Conduct in-depth financial analysis, including variance analysis, cost tracking, and financial forecasting to support strategic decision-making and project performance evaluation.
• Regulatory Compliance: Ensure adherence to Saudi Arabian financial laws, VAT regulations, and corporate tax requirements. Prepare and file accurate VAT and corporate tax returns in a timely manner.
• Audit Support: Coordinate and support internal and external audit processes by providing required documentation, reconciliations, and detailed explanations of financial data.
• Team Supervision: Manage and mentor a team of accountants, providing task delegation, performance reviews, and ongoing professional development to ensure operational efficiency and growth.

Skills

Qualifications and Experience Requirements:

• Education: Bachelor’s degree in Accounting, Finance, or a related field. Possession of a professional accounting qualification such as CA, ACCA, CPA, or CMA is highly desirable.
• Experience: Minimum of 5 years of proven experience in a supervisory accounting role, preferably within the construction or infrastructure industry.
• Technical Proficiency: Proficient in SAP or other recognized Enterprise Resource Planning (ERP) systems, with a strong understanding of system-based financial processes.
• Financial Expertise: In-depth knowledge of Saudi Arabian accounting standards and regulations, as well as International Financial Reporting Standards (IFRS).
• Leadership and Communication: Exceptional leadership, interpersonal, and communication skills with the ability to manage and motivate accounting teams effectively.
• Language Skills: Fluency in English is required. Proficiency in Arabic is preferred and considered an asset.
• Analytical Thinking: Strong analytical and problem-solving capabilities, with the ability to interpret financial data and provide meaningful insights to support business decisions.