Financial Controller

Al Jomaih Energy and Water; Dammam; On-site; SAR 60,000 - 90,000; Full time

Job summary

A leading energy and water company in Dammam, Saudi Arabia seeks a Financial Controller to oversee financial reporting and communication with stakeholders. The ideal candidate will manage compliance with IFRS, lead audit processes, and ensure accurate financial results. A bachelor's degree in a relevant field and minimum of 7 years of experience in financial management are required. This role offers the opportunity to work within a dynamic sector and contribute to significant infrastructure projects.

Qualifications

• Minimum 7 years of experience in financial management, accounting, audit, or major infrastructure projects.
• Experience managing financing, drawdowns, and lender reporting under PPP or similar frameworks.
• Good understanding of KSA tax and accounting regulations.

Responsibilities

• Manage communication with internal and external stakeholders regarding financial matters.
• Ensure compliance with IFRS and local reporting standards.
• Prepare financial reports in line with financing documentation.
• Review and approve monthly bank reconciliations and financial statements.

Skills

Strong analytical skills

Organizational skills

Communication skills

Attention to detail

Education

Bachelor’s degree in Business Administration, Finance, Accounting, Economics

Professional accounting qualification (CA, ACCA, or equivalent)

Tools

ERP systems

Oracle GL

Job description

Al Jomaih Energy & Water (AEW) headquartered in Saudi Arabia, is a fast-growing investor, lead developer, and operator of utility and infrastructure projects in various geographical markets such as KSA, GCC, Asia & North Africa, with investments in 6 GW of Conventional and Solar power plants, and around 700,000 m3/day of water.

AEW was established in 2007, as a subsidiary of Al Jomaih Holding Company, a leading Saudi conglomerate with a legacy spanning over 80 years, focused on enabling sustainable, social, and economic progress in the Kingdom of Saudi Arabia and beyond.

At AEW, our mission is to tackle new technologies, solve complex problems, and leverage our expertise to unlock opportunities in the Power, Renewables & Water Sectors, while driving impact for our stakeholders across the value chain.

Role Profile: Financial Controller

The Financial Controller will be responsible for all financial reporting and communication with project stakeholders, including lenders and sponsors, along with tax, financial, and accounting control for the Project Company and Management Services Company. The role ensures the integrity of internal controls and accounting information in compliance with IFRS and local reporting standards, while maintaining the integrity of the General Ledger (GL) to ensure accurate reporting of the Project’s financial results.

Reporting Structure

CFO and CEO

Your Job Functions (Duties & Responsibilities)

Managing Communication with Project Stakeholders

• Managing communication relating to financial matters with internal and external stakeholders, including project teams, sponsor teams, lenders, advisors, and other stakeholders as required.

Financial Accounting and Audit

• Ensure business transactions related to the project are maintained in the GL in full compliance with IFRS, local reporting standards, and sponsors’ financial policies and procedures.
• Ensure accuracy, quality, and timely closing of books.
• Review and approve monthly accruals and provisions for accuracy and completeness.
• Ensure the integrity of the Oracle GL or similar systems.
• Manage external audit processes for periodic financial statements as directed.
• Coordinate with consultants on matters related to financial accounting and audit.
• Maintain financial control of periodic financial statements.

Managerial Accounting and Reporting

• Prepare periodic cash flow forecasts as required by stakeholders.
• Prepare periodic budgets as required by stakeholders.
• Prepare periodic managerial financial reports.
• Prepare periodic financial analysis.
• Prepare relevant reports and updates to the required standard.
• Ensure the maintenance and updating of the financial model.

Accounts Payable (AP) and Accounts Receivable (AR)

• Review AP and AR work and reports to ensure compliance with sponsors’ requirements.
• Manage AP and AR in line with agreed SLAs.
• Review invoice approval status and ensure processing timelines are met.
• Review month-end AP and AR reconciliation and ageing reports and follow up where required.
• Review and advise on ad-hoc invoice and payment matters.
• Approve third-party invoices entered in the AR ledger with supporting documentation.

Tax Compliance

• Ensure the Project Company reports and pays taxes in accordance with applicable laws.
• Ensure decision-makers are informed of tax implications related to business decisions.
• Ensure full compliance of tax reports with applicable laws.
• Manage collection of receivables from tax authorities.
• Coordinate with tax advisors in accordance with sponsors’ tax group policies.
• Manage activities related to external tax inspections.

Banking, Treasury, and Reconciliations

• Review and approve month-end bank reconciliations.
• Follow up and clear reconciling items.
• Ensure bank deposits are correctly categorized.
• Support day-to-day cash management and investment decisions.

Financing and Lender Requirements

• Prepare financial reports in line with financing documentation.
• Manage drawdown processes.
• Update and monitor the financial model.
• Address lender information covenants and reporting requirements.

Governance and Stakeholder Relations

• Maintain coordination and working relationships with internal and external stakeholders.
• Organize project governance activities, including board, steering committee, audit, and finance meetings for the CFO.
• Ensure adherence to shareholders’ agreements and delegation of authority.
• Ensure compliance with financing documents and lender requirements.

QHSE Support

• Support Quality, Health, Safety, and Environment (QHSE) activities, policies, and objectives, including participation in audits, inductions, and incident reporting when required.

Qualifications

• Bachelor’s degree in Business Administration, Finance, Accounting, Economics, or a related field.
• Professional accounting qualification (CA, ACCA, or equivalent).
• Minimum 7 years of experience in financial management, accounting, audit, or major infrastructure projects.
• Experience managing financing, drawdowns, and lender reporting under PPP or similar frameworks.
• Strong knowledge of IFRS, project finance, ERP systems, and financial controls.
• Good understanding of KSA tax and accounting regulations.
• Strong analytical, organizational, and communication skills.
• High attention to detail and ability to work in a multi-functional environment.