Financial Manager – Qualifications & Requirements

1. Educational Qualifications

• Bachelor's degree in Accounting, Finance, Economics, or a related field.

• A Master's degree in Business Administration (MBA) or Finance is preferred.

• Professional certifications such as CMA, CPA, CFA, or SOCPA are considered an advantage, depending on the position's requirements.

2. Professional Experience

• Minimum of 7 years of relevant experience in accounting and financial management, including at least 3 years in a supervisory or managerial position.

• Previous experience in manufacturing or industrial companies is highly preferred.

• Proven experience in budgeting, financial planning, cash flow management, and financial reporting.

• Strong background in financial statement preparation, financial analysis, and cost management.

• Demonstrated ability to lead and supervise accounting and finance teams.

3. Financial and Accounting Knowledge

• Comprehensive knowledge of International Financial Reporting Standards (IFRS) as adopted in Saudi Arabia.

• Strong understanding of financial accounting, budgeting, forecasting, and financial reporting.

• Experience in manufacturing cost accounting, production costing, inventory valuation, and product cost analysis.

• Ability to prepare and analyze financial statements, including balance sheets, income statements, and cash flow statements.

4. Financial Analysis and Planning Skills

• Strong analytical skills to evaluate the company's financial performance.

• Ability to analyze revenues, expenses, profitability, and cost-reduction opportunities.

• Experience in preparing financial forecasts, feasibility studies, and financial projections.

• Ability to conduct budget variance analysis and identify areas for improvement.

• Capability to provide financial recommendations to senior management to support strategic decision-making.

5. Proficiency in Financial Systems and Software

• Proficiency in Enterprise Resource Planning (ERP) systems such as SAP, Oracle, Microsoft Dynamics, or Odoo.

• Advanced proficiency in Microsoft Excel.

• Experience with accounting software and financial reporting tools.

• Ability to improve financial processes, implement internal controls, and enhance reporting efficiency.

6. Communication and Reporting Skills

• Excellent verbal and written communication skills.

• Ability to explain complex financial information clearly to senior management and relevant stakeholders.

• Strong financial reporting and presentation skills.

• Proficiency in English is required; Arabic language skills are preferred.

• Ability to communicate professionally with banks, external auditors, and government authorities.

7. Knowledge of Saudi Financial Regulations

• Good understanding of financial regulations, taxation requirements, and accounting standards applicable in Saudi Arabia.

• Familiarity with the requirements of the Zakat, Tax and Customs Authority (ZATCA), including Value Added Tax (VAT) and electronic invoicing.

• Experience in preparing and submitting tax and Zakat returns, where applicable.

• Knowledge of financial compliance requirements and internal control procedures.

8. Cash Flow Management and Banking Relations

• Ability to manage company liquidity and ensure sufficient cash flow to support operational requirements.

• Experience in managing bank accounts, credit facilities, and financial obligations.

• Ability to prepare short-term and long-term cash flow forecasts.

• Experience in maintaining professional relationships with banks and financial institutions.

• Ability to monitor loans, financing agreements, and industrial financing facilities, including those provided by the Saudi Industrial Development Fund (SIDF), where applicable.

9. Manufacturing Cost Accounting and Inventory Management

• Strong experience in manufacturing cost accounting and production cost analysis.

• Ability to monitor raw material costs, labor costs, and manufacturing overhead expenses.

• Experience in product costing, profitability analysis, and cost optimization.

• Ability to supervise periodic and annual inventory counts and fixed asset verification.

• Capability to identify cost-saving opportunities, minimize waste, and improve operational efficiency.

10. Leadership, Management, and Financial Control

• Strong leadership skills with the ability to manage and develop finance and accounting teams.

• Experience in establishing and implementing financial policies and procedures.

• Ability to strengthen internal controls and manage financial risks.

• Ensure accurate accounting records and timely preparation of financial reports.

• Maintain strict confidentiality of the company's financial information.

11. Personal and Professional Skills

• High level of professional integrity and ethical conduct.

• Strong attention to detail and accuracy.

• Excellent problem-solving and decision-making skills.

• Effective organizational and time-management abilities.

• Ability to work under pressure and meet deadlines.

• Strategic thinking and strong business awareness.

12. Audit and Compliance Responsibilities

• Coordinate with external auditors and provide all necessary financial documents and information.

• Review audit findings and implement appropriate corrective actions.

• Ensure the accuracy and reliability of accounting records and financial transactions.

• Monitor compliance with the company's approved financial policies and procedures.

Minimum Requirements

• Education: Bachelor's degree in Accounting, Finance, or a related field.

• Experience: Minimum 7 years of relevant experience, including at least 3 years in a supervisory or managerial role.

• Preferred Industry: Manufacturing and industrial companies.

• Technical Skills: Advanced Microsoft Excel and ERP systems proficiency.

• Professional Knowledge: IFRS, manufacturing cost accounting, financial reporting, and Saudi tax regulations.

• Languages: Proficiency in English is required; Arabic is preferred.

• Professional Certifications: CMA, CPA, SOCPA, or equivalent certifications are an advantage.

• Work Location: Kingdom of Saudi Arabia.

• Relocation: Candidates must be willing and eligible to relocate to Saudi Arabia.

Requirements