Chief Accountant

About Boutique Group and The Red Palace

Boutique Group is reimagining The Red Palace, a historic landmark built in 1943, as an ultra-luxury boutique hotel in Riyadh. This establishment blends historical elegance with contemporary sophistication, offering a unique experience that honors Saudi Arabia's heritage through meticulously restored architecture and curated cultural experiences. The Red Palace aims to provide unparalleled service while respecting its legacy.

Role Summary

The Chief Accountant is responsible for overseeing the company's accounting operations, ensuring accurate financial reporting, and maintaining regulatory compliance. This full-time role in Riyadh involves effective management of accounting staff and plays a key part in financial planning, analysis, and safeguarding the company’s assets. The Chief Accountant will act as second-in-command to the Director of Finance.

Key Responsibilities

• Lead, mentor, and inspire the accounting team, fostering accountability and professional growth.
• Ensure timely, accurate, and compliant preparation of financial statements, statutory filings, and management reports in line with local regulations and accounting standards.
• Oversee all accounting functions, including Credit Manager, Accounts Payable, General Cashier cum Paymaster, Income Auditor, Cost Controller, Fixed Assets, and balance sheet reconciliations, ensuring timely month-end closing.
• Monitor cash flow, budgets, and forecasts; provide actionable insights to optimize financial performance and support strategic objectives.
• Develop, implement, and maintain robust accounting policies, procedures, and internal controls to enhance efficiency and risk management.
• Coordinate and support internal and external audits, liaise with tax authorities, and ensure timely resolution of audit findings.
• Partner with department heads and leadership to provide financial guidance, cost management, and resource allocation strategies.
• Maintain effective internal and external communication with management, finance teams, auditors, tax authorities, suppliers, and key customers.
• Drive continuous improvement initiatives, encourage best practices, and leverage technology to enhance the accounting function.
• Ensure the capital replacement and disposal policy is enforced and that all reporting complies with local accounting and tax rules.
• Provide value-added business performance reporting and accurate forecasting to support operational improvements and resource allocation.
• Lead the Finance team to drive improved performance and develop talent, creating succession planning within the Palace and the Group.
• Support the Director of Finance in driving the annual budgeting and forecasting process.
• Administer accounting policies and procedures, adhere to procurement practices, prepare financial statements, and ensure compliance with Boutique Group and Red Palace standards.

Qualifications and Experience

• Bachelor’s degree in Accounting, Finance, or a related field.
• Professional certification (CPA, CMA, ACCA) is preferred.
• 5–8 years of progressive accounting experience, including 2–3 years in a senior accounting or supervisory role.
• Hotel pre-opening experience is strongly preferred.
• Deep knowledge of accounting principles, financial reporting standards, and regulatory requirements.
• Proficiency in accounting software, ERP systems, and MS Office applications.

Required Skills

• Strong leadership, analytical, organizational, and strategic thinking skills.
• Exceptional attention to detail, accuracy, and ethical standards.

Application Information

This full-time position offers an opportunity to contribute to a significant project in Riyadh. Salary details will be discussed during the interview process.