Manager - Finance (SPV/Projects)-Saudi Nationals

Al Jomaih Energy and Water; Riyadh; On-site; SAR 260,000 - 380,000; Full time

Job summary

Al Jomaih Energy & Water (AEW) seeks a senior finance professional to lead accounting operations, planning, and covenant management. You will oversee month-end close, drive forecasting, and support strategic growth with robust financial modelling.

Key responsibilities include ensuring compliance, managing tax and zakat matters, coordinating audits, and shaping financial systems across the organization. A background in utilities or large-scale projects is highly regarded.

Qualifications

• 7+ years in finance/reporting, with at least 3 years in management roles.
• Big4 training and demonstrated leadership responsibilities.
• Professional qualifications such as ACA/ACCA or equivalent.

Responsibilities

• Oversee monthly, quarterly, and annual closing processes and reconciliations.
• Ensure compliance with accounting standards and robust internal controls.
• Develop and maintain integrated financial models and forecasts.
• Monitor budgets vs. actuals and advise on corrective actions.
• Prepare debt service, covenant tracking, and reporting for lenders.
• Coordinate audits and optimize reporting systems across the company.

Skills

MS Excel

Power BI

MS PowerPoint

ERP systems

Oracle Fusion

Financial forecasting

Financial modelling

Education

ACA/ ACCA or equivalent accounting degree

Tools

ERP systems

Oracle Fusion

BI tooling

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.

Overview

Deliver timely and accurate financial information to management through the establishment of proper accounting and control systems. This involves analyzing accounting data, preparing financial reports, and ensuring the distribution of financial information to senior management to facilitate decision-making. Ensure the implementation of the best accounting control practices and adherence to global accounting standards across the organization. The role will play a crucial part in assisting management in crafting strategic growth plans, assessing, and enhancing portfolio health.

Your Job Functions (Duties & Responsibilities)

Accounting Operations, reporting and controls

• Oversee and coordinate financial accounting process, including monthly, quarterly, and annual closing process, following closing checklist and booking revenues, development costs and completing/overseeing the completion of all monthly reconciliations.
• Ensure compliance with accounting standards and regulations, maintaining accurate financial records. Implement operational best practices.
• Create and implement accounting practices, purchasing guidelines, and ensure that accounting procedures adopted by the company are consistently updated.
• Implement and strengthen financial controls to safeguard company assets and prevent fraud.
• Establish and maintain effective relationships across all departments within the organization and ensure all issues raised are resolved timely and sufficient support given.

Financial Planning, Forecasting & Financial Modelling

• Coordinate preparation of the Company’s annual budgets, periodic forecasts and long-term financial projections, ensuring alignment with operational plans, business objectives and contractual requirements.
• Operate and maintain the Company’s integrated financial model, incorporating operating assumptions, revenue projections, O&M costs, capital expenditure, working capital, debt service, financing costs, taxes and cash flows.
• Update financial forecasts under different operating and commercial scenarios, including sensitivity and stress testing of key assumptions and their impact on profitability, liquidity and cash generation.
• Work closely with Operations, Commercial, Technical and other functions to develop and validate key financial and operational assumptions underpinning budgets and forecasts.
• Monitor actual performance against budget and forecast, analyse variances, identify key drivers and recommend corrective actions where required.
• Using financial models, prepare forward-looking cash flow forecasts and liquidity projections, including assessment of funding requirements, debt service obligations and availability of cash for distributions and other corporate requirements.
• Maintain the financial model to reflect changes in operating performance, contractual arrangements, financing terms, capital expenditure plans and other material developments affecting the project.
• Provide financial analysis to the Management for business decisions such as major maintenance and capital expenditure initiatives.

Lender, Financing & Covenant Management

• Using financial models, calculate and monitor key financial covenants and project finance ratios, including DSCR, LLCR, leverage and debt service-related ratios, in accordance with the applicable financing documents.
• Maintain forward-looking covenant forecasts using the financial model and identify potential covenant headroom constraints or breaches at an early stage.
• Coordinate the preparation and submission of periodic financial information, compliance certificates, lender reports and other information required under the financing agreements.
• Prepare debt service requirements, interest payments, principal repayments, DSRA reserve account requirements and other financing-related cash obligations.
• Ensure accurate and timely reporting of covenant calculations and financial information to the Company’s management, Board, Shareholders and Lenders.

Zakat, Tax and related compliance

• Collaborate with Tax/zakat teams on ongoing tax compliances.
• Ensure all the compliance requirements in relation to VAT, Corporate tax and zakat are managed, and proactive action is taken to address such requirements in the accounting and control systems.

Financial systems

• Develop and optimize financial accounting and reporting systems for accurate and timely reporting.
• Take a leading role in driving and participating in organization-wide financial transformation initiatives.

Audit and Internal Controls

• Coordinate External /Internal audits, liaise with the auditors and ensure that all issues are timely resolved during the audit process.
• Maintain internal controls by preparing and recommending policies and procedures, substantiate financial transactions by auditing documents.

Training

• Coach the accounting staff and ensure that all staff are cross trained and growth needs are identified and development plans are put in place and executed.

Qualifications & Skill Sets

• Over 7 years of diverse finance/ reporting experience, including a minimum of 3 years in management roles, preferably within the utilities industry.
• Trained by Big4 and held managerial responsibilities.
• Hold professional qualifications such as ACA/ ACCA or equivalent accounting degree.

Able to prove proficiency in following:

• MS Excel – advanced utility (with smart view expertise);
• MS PowerPoint;
• Microsoft Power BI.

• Strong experience with ERP systems, with a deep understanding of their functionalities, integration, and best practices. Exposure to Oracle Fusion is preferred.
• Strong experience in preparing, managing, reviewing the management reports, statutory financial statements, cash flow projections and forecasts, Board and shareholder reporting and operating financial models for projects.
• Strong experience in supervising, evaluating and training employees.
• Display exceptional communication skills and meticulous attention to detail.