Financial Controller

About MEMF Electrical Industries Co

MEMF Electrical Industries Co., the industrial arm of KFB Holding Group, supports Saudi Arabia’s power infrastructure by providing locally engineered, high-quality electrical products. The company operates advanced manufacturing facilities in Riyadh, producing a range of solutions for utility and industrial customers. These products are internationally type-tested and supported by engineering expertise and certified quality systems (ISO 9001 & ISO 45001).

Products Manufactured

• Smart energy meters
• Circuit breakers (MCB / MCCB / ACB)
• LV & MV instrument transformers
• LV & MV switchgear solutions (up to 36 kV)
• Distribution & power transformers (up to 10 MVA)
• FRP meter boxes & feeder pillars

The Role of Financial Controller

MEMF Electrical Industries Co. is seeking a Financial Controller to join their team in Riyadh, Saudi Arabia. This full-time role requires over 10 years of experience and involves leading all accounting operations, managing financial reporting, and ensuring compliance with accounting standards. The Financial Controller will play a key role in financial strategy and process improvement.

Key Responsibilities

• Lead all accounting operations, including General Ledger, Accounts Payable, Accounts Receivable, Billing, Cost, Inventory, and Revenue Recognition.
• Manage month-end and year-end closing processes.
• Prepare accurate and timely monthly financial statements.
• Lead budgeting, forecasting, and variance analysis.
• Monitor financial performance and provide actionable insights.
• Ensure accuracy and integrity of all financial transactions and reports.
• Oversee cash flow and working capital management.
• Ensure timely statutory, regulatory, and tax reporting.
• Ensure compliance with applicable accounting standards and regulations.
• Manage internal and external audit activities.
• Develop and strengthen internal controls and accounting policies.
• Drive process improvements and finance automation.
• Oversee inventory valuation, cost accounting, and revenue recognition.
• Prepare financial analysis and management reports.
• Lead, mentor, and develop the accounting team.
• Identify financial risks and implement appropriate mitigation controls.
• Support senior management in strategic financial decisions.

Candidate Profile and Benefits

The ideal candidate will have over 10 years of experience in a relevant financial role. This position offers a competitive salary and benefits package, along with opportunities for career growth and professional development. The role provides direct exposure to senior management and strategic initiatives within a collaborative and high-performance work environment, with the chance to lead finance transformation and process improvement efforts.