Assistant Manager Finance

Cruise Saudi; Jeddah, Makkah Al Mukarramah; On-site; SAR 120,000 - 150,000; Full time

Job summary

Cruise Saudi is seeking a Treasury Manager to oversee treasury operations, manage financial risks, and ensure effective cash management. This role requires a finance professional with 5–8 years of experience in finance or accounting, strong skills in financial modeling, and advanced Excel capabilities. You will be responsible for preparing cash flow forecasts, analyzing financial performance, and maintaining banking relationships to optimize the company's capital structure.

Qualifications

• 5–8 years of experience in finance or accounting with a focus on treasury and cash management.
• Hands-on exposure to financial planning, analysis, and reporting.
• Ability to work cross-functionally with operations and senior management.

Responsibilities

• Oversee daily cash management to ensure adequate liquidity.
• Prepare cash flow forecasts for operational planning.
• Manage banking relationships and negotiate financial terms.

Skills

Advanced Excel

Financial modeling

Analytical skills

Communication skills

Education

Bachelor’s degree in Finance, Accounting, or related field

Professional certification (CMA, CPA, CFA) preferred

Tools

ERP systems (SAP, Oracle)

Job description

About Cruise Saudi

Cruise Saudi, launched in 2021 and wholly owned by the Public Investment Fund, aims to enhance Saudi Arabia's cruise industry from port development to full-scale operations, striving to position KSA as a top global cruise destination.

JOB PURPOSE:

Oversee the day-to-day treasury operations, including cash management, cash forecasting, debt management, and foreign exchange transactions and provide strategic insights to optimize the company's capital structure, maintain sufficient liquidity, maximize returns on cash investments and mitigate financial risks.

RESPONSIBILITIES:

Treasury:

• Oversee treasury operations functions, including bank account management, treasury system administration, and documentation management. Implement process improvements and automation initiatives to enhance efficiency and accuracy in treasury operations. Ensure compliance with internal controls, policies, and procedures related to treasury activities.

Financial Risk Management:

• Identify, assess, and mitigate financial risks, including interest rate risk, credit risk, and counterparty risk. Develop risk management policies and procedures to ensure compliance with regulatory requirements and best practices. Monitor financial markets and economic indicators, providing insights and recommendations to senior management on risk management strategies.

Cash Management:

• Manage daily cash flow activities, including cash positioning, forecasting, and liquidity management. Monitor cash balances and ensure adequate funding to meet operational needs while maximizing interest income and minimizing borrowing costs. Execute cash management transactions, including wire transfers, investments, and disbursements. Perform monthly bank reconciliation and act to clear outstanding and unreconciled transactions.

Cash Forecasting:

• Prepare short-term and long-term cash flow forecasts to support liquidity planning and decision-making. Analyze historical cash flows, business projections, and market trends to develop accurate cash forecasts and identify potential liquidity gaps or surpluses. Collaborate with finance and operational teams to incorporate accurate cash flow projections into financial planning and budgeting processes.

Banking Relationships:

• Develop and maintain relationships with banks and financial institutions. Negotiate banking services and fees, including credit facilities, cash management services, and foreign exchange transactions. Evaluate bank performance and recommend changes as needed.

Financial Systems & Reporting Tools:

• Implement and maintain financial reporting systems to streamline financial processes and improve efficiency
• Ensure that financial data is entered accurately and that systems are functioning effectively to support decision-making.

Financial Compliance & Controls:

• Ensure compliance with financial regulations and company policies.
• Develop, implement, and maintain effective internal controls and financial procedures.
• Coordinate with external auditors and tax advisors for audit and tax preparation.

Accounts Payable:

• Process invoices, expense reports, and other payables in a timely and accurate manner. Verify invoice details, including quantities, prices, and terms, and ensure proper approval before payment. Coordinate with vendors and internal departments to resolve discrepancies.

TASKS:

• Analyze and explain variances between actual and budgeted financial performance.
• Provide management with regular updates on the ships operation financial status, highlighting key trends, risks, and opportunities.
• Oversee daily cash management to ensure the company maintains adequate liquidity to meet its obligations.
• Prepare weekly and monthly cash flow forecasts to predict cash inflows and outflows.
• Manage short-term investments and recommend optimal cash allocation strategies to maximize returns and minimize borrowing costs.
• Perform in-depth analysis of ship operation business performance, including profitability, margins, cost structures, and efficiency metrics.
• Identify key areas for cost reduction, process improvement, and revenue enhancement.
• Provide actionable financial insights to support decision-making across ship operation units.
• Develop and implement internal controls and procedures to ensure financial transactions are accurate and comply with company policies.
• Coordinate and manage external audits, ensuring that the company adheres to regulatory requirements.
• Ensure compliance with tax laws and manage tax reporting and filing.
• Oversee treasury functions, including cash management, banking relationships, debt management, and foreign exchange.
• Negotiate terms and fees for banking services, credit facilities, and other financing arrangements.
• Manage accounts payable and receivable processes to ensure accuracy and timely processing of invoices and payments.
• Work closely with internal teams to resolve discrepancies and ensure proper cash flow management.
• Continuously review financial systems and processes to ensure they are efficient, effective, and scalable.
• Recommend and implement automation solutions to streamline financial operations.

EDUCATION:

• Bachelor’s degree in Finance, Accounting, or related field (mandatory)
• Professional certification (CMA, CPA, CFA) preferred, or actively pursuing

EXPERIENCE:

5–8 years of progressive experience in finance or accounting, with hands-on exposure to:

• Financial planning & analysis (budgeting, forecasting, variance analysis)
• Cash flow management and treasury operations
• Financial reporting and audit coordination
• Exposure to maritime/shipping operations is a plus but not mandatory

SKILLS:

• Advanced Excel and financial modeling
• Strong understanding of accounting principles (IFRS/GAAP)
• Familiarity with ERP systems (SAP, Oracle)
• Strong analytical and communication skills
• Ability to work cross-functionally with operations and senior management