General Accounting Specialist

نيرا | Nera; Jeddah; On-site; SAR 150,000 - 200,000; Full time

Job summary

A technology solutions provider in Jeddah is seeking an experienced General Accounting Specialist to manage day-to-day financial accounting operations. Responsibilities include journal entries, reconciliations, and support for month-end processes. Candidates should have a bachelor's in Finance or Accounting and ideally 3+ years in a similar role. The position focuses on ensuring compliance and enhancing financial processes.

Qualifications

• Minimum of 3 years of experience in a related field, preferably within aviation or technology sectors.

Responsibilities

• Manage general ledger, ensuring accuracy and timely record-keeping.
• Support month-end closing activities, posting all transactions.
• Prepare financial reports for stakeholders.
• Ensure compliance with accounting standards.

Skills

General Ledger Management

Financial Reporting

Reconciliation

Treasury Management

Compliance

Education

Bachelor's degree in Finance or Accounting

Job description

About the Role: The General Accounting Specialist is responsible for performing day-to-day financial accounting operations, including the preparation and posting of journal entries, reconciliations, periodic trial balances, and financial statements. The role ensures accurate and timely delivery of financial within the set KPls, agreed budgets and adopted policies and procedures while maintaining compliance with accounting standards and organizational requirements.

Main Responsibilities:

General Ledger Management and Reconciliation

• Run journal imports by source, forward journals through approval workflows as per the Delegation of Authorities (DOA), and post approved journals in the system.
• Perform reversing journal entries in the system and submit them for approval as per the DOA.
• Prepare recurring journal templates, submit them for review, and generate or auto-generate recurring journals for posting in the required period.
• Identify the need for mass allocations, determine accounts and formulas for cost allocation, set up the mass allocation formula in the system, and address any issues identified by the reporting line.
• Generate and post allocation journals after obtaining review and approval from the reporting line.
• Post sub-ledgers on time and in accordance with the month-end closing procedures.
• Support month-end closing activities, ensuring all period-end transactions are recorded and posted in the general ledger.
• Collaborate with the Financial Controller Manager to resolve discrepancies and address questions related to the recording of general ledger transactions.
• Create general ledger reports, including journal voucher summaries, account analysis, period closing, trial balance, and other management-requested reports.
• Analyze the impact of General Ledger Maintenance Activity Requests on the Chart of Accounts (COA) and account balances, performing account/segment additions or inactivation.

Treasury Management and Payment Process

• Review monthly payroll provided by HR to ensure accuracy, highlight variances, and liaise with HR to address identified issues and secure approvals for amendments.
• Support the treasury function by reviewing and ensuring timely and accurate payments through banking systems.
• Monitor bank transactions, ensuring alignment with budgeted cash flows and financial obligations.
• Assist in managing banking relationships, maintaining updated bank documentation, and resolving banking-related issues.

Tax and Auditing

• Coordinate with internal and external auditors by preparing and providing necessary financial data and reports to facilitate audit report preparation.
• Assist in providing financial data for tax filings and ensuring accurate reporting to meet compliance deadlines.

Compliance and Risk Management

• Ensure all financial and accounting transactions comply with organizational policies, IFRS, and internal controls.
• Identify risks related to general ledger inaccuracies, reporting discrepancies, or payment processes and escalate them to management with recommendations.
• Assist in implementing accounting systems, procedures, and internal controls to enhance compliance and reduce risks.
• Inform the direct reporting line of significant financial accounting issues that could impact organizational goals.
• Contribute to identifying opportunities for continuous improvement of systems and processes, focusing on efficiency, accuracy, and cost reduction.
• Conduct day-to-day activities while ensuring strict adherence to financial policies, procedures, and regulatory frameworks.

Stakeholder Engagement

• Collaborate with relevant departments to ensure the smooth execution of payroll, payment processes, and financial accounting activities.
• Act as a liaison with auditors and other external stakeholders, providing necessary financial records and addressing queries.
• Respond to internal stakeholder queries regarding financial entries, journal adjustments, reconciliations, and reports promptly.
• Provide periodic financial reporting, including analysis of trends and variances, to senior management for decision-making.
• Ensure stakeholders are aware of potential risks related to financial reporting and compliance and propose strategies for resolution.
• Collaborate with related parties, such as departments and external auditors, to provide all required reports and documentation for audit purposes and financial consolidation.

Document & Record Keeping

• Maintain proper archiving of all financial documents, statements, and reports to ensure accuracy, completeness, and accessibility for future reference.
• Ensure all financial records, including journal entries, reconciliations, and general ledger reports, are updated, verified, and accurately recorded in line with organizational policies.
• Regularly update and manage financial data in the system to reflect timely and accurate transaction records.
• Prepare and organize financial records to facilitate smooth audits, ensuring compliance with internal and external audit requirements.
• Adhere to the organization’s document retention policies, ensuring timely disposal of outdated records and proper handling of confidential financial data.

Technology Integration

• Leverage and operate financial and accounting systems to ensure efficient processing of journal entries, reconciliations, and reporting.
• Support the implementation, testing, and rollout of system enhancements and upgrades, ensuring minimal disruption to accounting processes.
• Identify opportunities to implement automation tools for repetitive processes such as journal imports, reconciliations, and financial reporting.
• Ensure the accuracy and security of financial data within all systems and tools used, adhering to IT and organizational data protection policies.
• Use technology to generate real-time financial reports, dashboards, and analytics to support decision-making and performance tracking.
• Provide support and training to team members on the use of accounting systems, tools, and technologies to enhance adoption and proficiency.
• Collaborate with IT teams to resolve technical issues related to financial systems and ensure system reliability for daily operations.

Policies, Processes and Procedures

• Compliance: Conduct day-to-day activities while ensuring compliance to policies and procedures.
• Continuous Improvement: Contribute to the identification of opportunities for continuous improvement of systems, processes taking into account leading practices, changes in business environment, cost reduction and productivity improvement.

Qualifications:

• Minimum of 3 years of experience in a related field, preferably within the aviation or technological solutions sectors.
• A bachelor’s degree in business administration with specialization in Finance or Accounting or equivalent is required.