Section Head & Accounts Receivable (AR) & Contract Assets

Esnad Contracting; Riyadh; On-site; SAR 200,000 - 300,000; Full time

Job summary

A leading construction firm in Saudi Arabia seeks a skilled Section Head for Accounts Receivable & Contract Assets. This pivotal role entails managing the full AR cycle, handling collections, reconciliations, and ensuring compliance with policies. Candidates should hold a relevant degree and possess 7–10 years of experience in AR, preferably within construction. Knowledge of IFRS and ERP systems, particularly NetSuite, is essential. Join our team to drive financial integrity and success in our projects.

Qualifications

• 7–10 years’ experience in AR & contract assets, preferably in construction projects.
• Strong IFRS knowledge related to SMEs and IFRS 15.
• Familiarity with e-invoice gateways.

Responsibilities

• Lead the AR & Contract Assets function for construction projects.
• Manage contract assets & liabilities, ensuring correct cut-off and reconciliation.
• Drive collections and coordinate with Treasury on cash planning.

Skills

Stakeholder management

Team leadership

Strong IFRS knowledge

E-invoicing

ERP experience

Education

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

SOCPA/CPA/ACCA (or finalist)

Tools

NetSuite

Job description

Title: Section Head – Accounts Receivable (AR) & Contract Assets

About the Role: We are looking for a highly experienced AR professional to lead our Accounts Receivable & Contract Assets function for construction and infrastructure projects. You will own the full AR cycle, from progress billing and e-invoicing to collections, reconciliations, and retention management. This role ensures revenue integrity, timely reporting, and compliance across all projects.

Key Responsibilities

• Lead the AR & Contract Assets function: progress billings, advance/retention accounting, customer master governance, and cash application.
• Oversee monthly cycle with Project Controlling and Ops PMs: align certified % complete, quantities, variations/claims, and milestones before billing, raise progress invoices in ERP, ensure ZATCA e-invoice clearance.
• Manage contract assets & liabilities (unbilled revenue, deferred revenue): maintain roll forwards, ageing, and reconciliations, ensure correct cut‑off and reclass to trade receivables on certification.
• Own retentions ledger: track by project/customer, ageing, release triggers, certificates and handover milestones, coordinate retention releases and guarantees.
• Drive collections: issue statements/confirmations, resolve disputes, escape per DoA. Coordinate with Treasury on cash planning, LC/guarantee utilisation and collaterals.
• Credit control: propose credit limits/terms, monitor exposure vs. limits, recommend holds/releases per DoA. Maintain dispute log and root‑cause corrective actions.
• Compliance & policy: enforce Revenue/Progress Billing, E‑Invoicing & VAT, and Internal Controls policies, maintain documentation for GTPL/Local Content reporting and external audit. Support customer balance confirmations.
• Close & reporting: deliver month end AR/contract asset schedules, ageing, DSO dashboard, bad debt/expected credit loss (ECL) proposals. Reconcile AR subledger to GL. prepare audit‑ready working papers.
• Data & systems: steward customer master, project/WBS linkages, VAT attributes. Own AR workflows in NetSuite and the e‑invoice gateway. maintain error logs and remediation.
• People & process: build SOPs, checklists, and control points. Coach the team and manage performance against KPIs.

Requirements

• Bachelor’s degree in Accounting, Finance, or related field
• SOCPA/CPA/ACCA (or finalist)
• 7–10 years’ experience in AR & contract assets, preferably in construction or contracting projects
• Strong IFRS knowledge (IFRS for SMEs / IFRS 15)
• ERP experience (NetSuite preferred) and e‑invoice gateway familiarity
• Excellent stakeholder management and team leadership