Project Financial Control Manager

Confidential Government; Riyadh; On-site; SAR 300,000 - 520,000; Full time

Job summary

Confidential Government in Riyadh is seeking an experienced Project Finance Manager to oversee the financial performance of development and construction programs, ensuring budgets, forecasts, and cash flows align with business objectives.

You will lead budgeting exercises, monitor costs, manage reporting, and guide a dedicated financial control team while coordinating with project managers, procurement, and accounting to secure value and compliance.

Qualifications

• Bachelor’s degree in Finance, Accounting, or related discipline.
• CPA, CMA, ACCA or equivalent preferred.
• 8+ years in project finance, financial control, or cost control; at least 3 years in management.
• Experience in real estate development, construction, infrastructure, or large capital projects.
• Experience in budgets, forecasts, cash flows, and management reporting.
• Strong understanding of project accounting, construction contracts, and change control processes.
• Proficiency in financial modeling, advanced Excel, and ERP systems such as Oracle.

Responsibilities

• Lead the preparation and monitoring of project budgets in coordination with project management, finance, procurement, and commercial teams.
• Review project costs, commitments, accruals, and actual expenditure against approved budgets.
• Prepare financial forecasts, including cash flow projections, estimates to complete, and estimates at completion.
• Analyze budget variances, identify cost overruns, and recommend corrective actions.
• Prepare monthly project financial reports covering expenditure, forecasts, cash flow, financial risks, and overall performance.
• Assess the financial impact of scope changes, variation orders, claims, and project delays.
• Review contractor and consultant payment applications with relevant teams, ensuring alignment with contractual terms, approved progress, and budget availability.
• Support project feasibility assessments and evaluate the financial implications of delivery decisions.
• Ensure accurate allocation of project costs and appropriate accounting treatment in coordination with the accounting team.
• Establish and maintain project financial controls, reporting standards, and approval procedures.
• Support financial audits and ensure project records and supporting documentation are complete and accurate.
• Partner with project leaders to improve cost efficiency and strengthen financial accountability.
• Lead and develop the project financial control team.

Skills

Budgeting & Forecasting

Financial Analysis

Cost Control

Financial Reporting

Excel (Advanced)

Team Leadership

Contract Management

ERP systems (Oracle)

Education

Bachelor’s degree in Finance or Accounting

CPA / CMA / ACCA preferred

Tools

Oracle ERP

Job description

Job Purpose: Manage the financial performance of development and construction projects through budgeting, forecasting, cost control, and financial reporting. Provide accurate financial insights to support project delivery within approved budgets and highlight risks requiring management action.

Key Responsibilities

• Lead the preparation and monitoring of project budgets in coordination with project management, finance, procurement, and commercial teams.
• Review project costs, commitments, accruals, and actual expenditure against approved budgets.
• Prepare financial forecasts, including cash flow projections, estimates to complete, and estimates at completion.
• Analyze budget variances, identify cost overruns, and recommend corrective actions.
• Prepare monthly project financial reports covering expenditure, forecasts, cash flow, financial risks, and overall performance.
• Assess the financial impact of scope changes, variation orders, claims, and project delays.
• Review contractor and consultant payment applications with relevant teams, ensuring alignment with contractual terms, approved progress, and budget availability.
• Support project feasibility assessments and evaluate the financial implications of delivery decisions.
• Ensure accurate allocation of project costs and appropriate accounting treatment in coordination with the accounting team.
• Establish and maintain project financial controls, reporting standards, and approval procedures.
• Support financial audits and ensure project records and supporting documentation are complete and accurate.
• Partner with project leaders to improve cost efficiency and strengthen financial accountability.
• Lead and develop the project financial control team.

Qualifications and Experience

• Bachelor’s degree in Finance, Accounting, or a related discipline.
• Professional certification such as CPA, CMA, ACCA, or an equivalent qualification is preferred.
• At least 8 years of relevant experience in project finance, financial control, or cost control, including 3 years in a managerial or supervisory role.
• Experience in real estate development, construction, infrastructure, or large capital projects.
• Proven experience managing project budgets, financial forecasts, cash flows, and management reporting.
• Strong understanding of project accounting, construction contracts, and change control processes.
• Proficiency in financial modeling, advanced Excel, and ERP systems such as Oracle.