Chief Financial Officer

Orient Insurance KSA; Riyadh; On-site; SAR 360,000 - 720,000; Full time

Job description

KEY ACCOUNTABILITIES:

Specify the output required from the job. Identify not more than 7 Key Accountabilities & their performance indicators. NB-Focus on outcomes not tasks

Description of the Accountability

Performance Indicators (How accountability is measured)

• Cost Control
• Capital & Asset Management
• Investment Planning & Budget Control
• Operational Management
• Internal Controls & MIS Development
• Customer Centric
• Satisfaction of internal & external stakeholders

JOB CONTEXT:

Define organizational policy and other factors that have a critical impact on the job

FINANCIAL RECORDS

Maintain accounts & financial records pertaining to Underwriting & Financial transactions in accordance with the International accounting standards & Group policies in order to comply with the requirements of Federal Laws relating to Companies and Insurance Business.

INTERNAL CONTROL & SYSTEM DEVELOPMENT

Develop and implement effective internal control systems & procedures to ensure that all the assets and interests of the Company are secured and not subject to any risk and constant review of the transactions processing systems & methods to ensure all the transactions are correctly and accurately reflected in the books of account and implement appropriate modifications in order to meet the changing business needs.

BUDGETS

Formulate the annual budget and quarterly reviews and monitor its performance against budget & business objectives and ensure that management is accurately and timely informed about the financial status and results of the company.

MANAGEMENT INFORMATION / STATUTORY REPORTS

Compile, collect and prepare reports on underwriting & financial matters for timely submission to Management, Reinsurers & Concerned Government Departments in order to facilitate decision making & comply with the stipulated requirements.

Plan & organize the Company's Financial Resources in order to effectively manage working capital to meet the cash flow requirements.

INVESTMENTS OF SURPLUS FUNDS

Develop an effective investment strategy for placement of surplus funds in order to maximize investment yield and income.

FINANCIAL PLANNING

Assist in formulating the company's future direction and supporting tactical initiatives. Monitor and direct the implementation of strategic business plans at overseas entities. Ensure development of financial strategies & performance measures that support the company's overall strategic direction.

QUALIFICATIONS, EXPERIENCE, & SKILLS:

Minimum Qualifications and Knowledge:

Chartered Accountant or equivalent.

10-15 years experience in a progressive organisation (Including 5-7 years in a senior managerial position).

Job-Specific Skills:

General Insurance with particular emphasis on Marine, Hull & Cargo, Non-Marine, Motor, Life & Medical.

• Strong interpersonal & analytical skills.
• Excellent communication skills and analytical ability.