Financial Reporting & Control Director

aramco digital; Dhahran Compound; On-site; SAR 120,000 - 150,000; Full time

Job summary

A leading energy company in Dhahran Compound, Saudi Arabia is seeking a Financial Reporting & Control Director to lead financial accounting, reporting, and compliance processes. The role involves developing internal controls, coordinating audits, and ensuring regulatory compliance. Ideal candidates should hold a degree in finance or accounting, with at least 12 years of relevant experience, preferably in public accounting or financial services. This position is crucial for ensuring financial transparency and effective risk management within the organization.

Qualifications

• Bachelor's degree in Finance, Accounting, Economics, or related field is required.
• At least 12 years of experience in finance, accounting, internal audit, or related roles.
• Experience in financial control, internal controls, risk management, and regulatory compliance is preferred.

Responsibilities

• Lead and oversee financial accounting and reporting processes.
• Develop and monitor internal control systems.
• Establish budgetary controls and monitor performance.
• Oversee compliance with laws and regulations.
• Coordinate internal and external audit activities.

Skills

Financial reporting

Risk assessment

Internal controls

Budget management

Compliance management

Education

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

MBA or Certified Financial Controller (CFC)

Job description

About the job

The Financial Reporting & Control Director will oversee and manage the financial accounting, reporting and control functions within the organization, ensuring compliance with accounting principles, regulations, and internal policies. The role will be responsible for maintaining the integrity of financial records, preparing accurate financial statements, and conducting internal reviews to identify risks and control deficiencies. This role will oversee financial accounting, reporting and taxation, in addition to the development and implementation of financial control procedures, policies, and systems to safeguard assets, mitigate risks, and enhance financial transparency and accountability. This role will also provide guidance and training to finance staff on financial control matters, promote a culture of accountability and ethics, and drive continuous improvement initiatives to optimize financial processes and controls

Responsibilities

Financial Accounting & Reporting Management: Lead, manager and oversee the financial accounting and reporting processes, ensuring accurate and timely reporting of financial results. Oversee the preparation of consolidated financial statements in accordance with applicable accounting standards and regulatory requirements. Analyze and interpret financial data to provide insights and recommendations to senior management. Moreover, manage and oversee tax compliance activities and reporting.

Internal Controls Management: Develop, implement, and monitor internal control systems to safeguard assets, prevent fraud, and ensure compliance with company policies, regulatory requirements, and industry standards. Communicate financial performance, risks, and control issues to senior management, board of directors, audit committee, and other stakeholders through regular reporting, presentations, and discussions.

Financial Policy Development: Develop, review, and update financial policies, procedures, and guidelines to ensure consistency, transparency, and accountability in financial operations. Communicate policies to relevant stakeholders and provide training as needed.

Budgetary Control and Monitoring: Establish budgetary controls, monitor budget performance, and analyze variances to identify areas of concern or opportunities for cost optimization. Provide guidance and support to departmental managers in budget preparation and expenditure tracking.

Financial Reporting Oversight: Oversee the preparation and dissemination of accurate and timely financial statements, including income statements, balance sheets, and cash flow statements, in compliance with accounting standards and regulatory guidelines. Ensure accurate and timely financial reporting in accordance with generally accepted accounting principles (GAAP) or International Financial Reporting Standards (IFRS).

Compliance Management: Ensure compliance with relevant laws, regulations, and reporting requirements imposed by regulatory authorities of KSA. Stay updated on changes in regulatory requirements and ensure timely filings and disclosures.

Risk Assessment and Mitigation: Identify, assess, and mitigate financial risks inherent in the business, including operational, financial, and compliance risks. Implement risk management strategies and controls to minimize exposure to risks and ensure business continuity.

Internal Audit Coordination: Coordinate internal audit activities, including risk assessments, audit planning, fieldwork, and reporting. Collaborate with internal audit teams to address audit findings, deficiencies, and recommendations for improving controls and processes.

External Audit Support: Coordinate external audit activities, including audit planning, fieldwork, and resolution of audit inquiries and requests. Ensure timely and accurate provision of information to auditors and facilitate the audit process to minimize disruptions to business operations.

Process Improvement: Identify opportunities for process improvements, efficiency gains, and automation in financial control processes. Implement best practices, tools, and technologies to enhance the effectiveness and efficiency of financial control operations.

Minimum qualifications

• Bachelor's degree in Finance, Accounting, Economics, or a related field is required. An MBA or certification such as Certified Financial Controller (CFC) is preferred.
• At least 12 years of experience in finance, accounting, internal audit, or related roles. Experience in financial control, internal controls, risk management, and regulatory compliance is highly desirable. Candidates with experience in public accounting firms, corporate finance departments, or financial services organizations.