Head of Finance Department

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Job Detail
Banking/Financial Services
Functional Area:
Accounts, Finance & Financial Services
Total Position:
Job Type:
Full Time/Permanent
Job Location:
Riyadh, Saudi Arabia
No Preference
Bahraini, Kuwaiti, Omani, Qatari, Saudi, Emirati
Degree Title:
Accounting, Finance or similar field
Career Level:
Department Head
Minimum Experience:
7 Years
Work Permit:
Saudi Arabia
Apply By :
Dec 27, 2019
Posted On:
Sep 27, 2019
Job Description

Role Purpose:

The jobholder will be accountable to set-up, direct, control and administration of the financial accounting and financial reporting activities of GMCo. Provides the President with monthly and adhoc financial reports and information about GMCo. The jobholder will ensure planning and completion of budgeting activities that meet GMCo’s corporate objectives.

Key Accountabilities:

  1. Develop and direct the Finance strategy

  • Develops and directs the financial strategy (including accounting and internal/external financial reporting) to facilitate delivery of GMCo’s vision and the achievement of the strategic goals.

  • Reviews and updates the internal controls, and Finance polices and procedure when required.

  • Sets financial targets required and allocates budgets to individual divisions to fulfil overall GMCo goals whilst ensuring financial governance.

  1. Develop and drive the annual budgeting and planning

  • Leads the budget preparation cycle.

  • Reviews GMCo’s units’ requirements.

  • Provides and discuss the annual budget presentation with the President.

  • Monitors and controls the approved budget with the actual performance.

  1. Manage GMCo’s cash and investment

  • Develops a strategy to invest the excess cash.

  • Ensures a healthy position of GMCo’s cash flow.

  • Effective communication with banks.

  1. Financial reporting and compliance

  • Leads the year-end audit exercise.

  • Reviews the final draft of the financial statement with the auditors.

  • Reviews and monitors the compliance with GAZT’s requirements.

  • Provides financial summary reports (monthly and quarterly).

  1. Periodic Financial closing

  • Monitors timely and accurate record keeping, financial information management.

  • Reviews and approves bank reconciliations.

  • Authorises all submissions and payments.

  • Approves all adjustment entries.

Job Qualifications/ Requirements


  • Strong understanding of accounting.

  • Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.

  • In-depth knowledge of financial statements and financial statement analysis, including an ability to analyses cash flow and the impact on the financial statements.

  • Knowledge in International Financial Reporting Standards (IFRS).


  • Minimum of Bachelor’s degree in accounting, finance or similar field.


  • Minimum of 10-12 years of experience.

  • Familiarity with bank cash management systems.

  • Considerable practical experience in financial planning, reporting and control.

  • Computer skills including proficiency in common word processing, spreadsheet, and presentation programmes.

Job related Skills

  • Ability to provide an appropriate framework for the development of the budget manual, planning calendar and planning process to monitors compliance.

  • Ability to work with GMCo Heads and senior management to translate business strategy into financial plans and budgets.

  • Highly numerate, with developed analytical skills using qualitative and quantitative data.

  • Attention to detail with very strong accuracy.

  • Excellent communication and interpersonal skills.

Required Skills

Financial Analysis, Corporate Budgeting, Planning Budgeting / Forecasting, Group financial reporting, Islamic Financial Accounting Standards, IFRS, Financial Statement Analysis, Auditors, CA, Internal Controls, CIA

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