Job Description

Date Posted: 2009-11-04 Ref. JB1129512

Finance Director
Sulaiman A. Al Rajhi Real Estate Investments Co.

Reports to: Vice President Operations

JOB PURPOSE:
To manage the financial control framework that must be followed by the Group and all subsidiary business areas, to take responsibility for all financial information provided internally and externally, planning / planned sources of finance and, to give guidance on, and approval to, the interpretation of accounting standards and policies.

ACCOUNTABILITIES:
-Direct the preparation of financial accounts, detailed budgets and financial plans on a composite and unitary basis for approval and distribute to all departments throughout Al Rajhi Investments Company to ensure all department heads are aware of their budgets.
-Review and compare results with approved budget levels and analyse deviations. Investigate variances with managers and recommend remedial action.
-Establish effective working relationships with banks, financial and credit institutions to pursue and negotiate the securing of the company’s planned financial needs including short and long term debt through the available various resources such as conventional credit, debt capital markets, equity markets and financial derivative markets in order to limit and cover the group’s exposure to underlying liabilities and assets.
-Overdraft, guarantee, foreign exchange and other financial facilities at the most competitive rates for the Company’s cost benefit.
-Ensure proper credit lines are available to the company in order to meet its financial obligations.
-Establish systems and controls for receipt and disbursements of funds and forecasting short and mid term requirements to ensure disbursements in line with policies and procedures.
-Develop and monitor all internal controls to ensure the company’s assets are safeguarded, financial risks are minimized and all statutory requirements are met. Review all internal controls through external audits and monitor the financial effectiveness of internal systems.

Skills

-Develop and upgrade financial guidelines and processes to ensure efficient and effective management of the company’s finances can take place.
-Foster an effective working relationship with auditors to ensure that all recommendations and findings identified by audit are acted upon promptly with any necessary action implemented.
-Oversee the preparation of instruction manuals and guides for easy reference by personnel and to ensure clarity on every step of the Finance & Accounting processing function.
-Plan and manage the activities of assigned staff in the Finance & Accounting. Delegate assignments and guide them in performance of their work.
-Ensure the effective achievement of the overall finance functional objectives through the leadership of the finance department - setting individual objectives, managing performance, developing and motivating staff, provision of formal and informal feedback and appraisal - in order to maximise subordinate and departmental performance.
-Direct the preparation of the finance department budget and monitor financial performance versus the budget so that the business is aware of anticipated costs/revenues, areas of unsatisfactory performance are identified and potential performance improvement opportunities are capitalised upon.
-Direct the development and oversee the implementation of operational policies, procedures and controls covering all areas of finance activity so that all relevant procedural/legislative requirements are fulfilled while delivering a quality, cost-effective service to customers.

QUALIFICATIONS:
-Finance University degree - Post Graduate degree, MBA. International Financial Reporting Standards (IFRS)
-10+ years of work experience
-English language
-Knowledge of policies and procedures
-Time management
-Business skills and understanding
-Financial Awareness
-PC
-Presentation
-Project Management
-Financial Accounting
-Costing & Budgeting
-Treasury