General Accounting Manager

About the Role

The Water Transmission Company is seeking a General Accounting Manager to join their team in Riyadh, Saudi Arabia. This full-time position involves overseeing key accounting functions including revenue, payments, payroll, fixed assets, and the general ledger, ensuring adherence to established policies and procedures.

Key Responsibilities

• Contribute to the Transaction Finance Division plan and develop the operational plan for the General Accounting Function.
• Develop and monitor key performance indicators for the General Accounting Function.
• Implement the General Accounting Function’s framework, methodologies, techniques, and principles.
• Ensure the operational plan is communicated and understood across all levels.
• Optimize resources, ensure team efficiency, and provide improvement recommendations.
• Develop budget requirements for the General Accounting Function, aligning with plans and needs.
• Develop procedures to ensure systematic execution of all actions.
• Make operational decisions and escalate key decisions to senior management as required.
• Ensure work is performed according to approved policies, processes, procedures, and instructions.
• Identify opportunities for continuous improvement in systems, processes, and practices.
• Escalate problems to ensure efficient and timely resolution.

Revenue and Payment Management

• Verify revenue documentation for accuracy.
• Develop schedules and systems for timely accumulation, adjustment, and reporting of revenue-related financial data.
• Monitor revenue accounting activities and reports to assess collection and manage bad debts.
• Supervise reconciliation between collection channels and IT systems for smooth payment processing.
• Consolidate revenue collection reports and participate in monthly, quarterly, and yearly accounting cycles and financial statements.
• Process bank transfers and other payment documents efficiently.
• Ensure petty cash reconciliation and replenishment according to the approved budget.

Payroll and Fixed Assets Oversight

• Ensure accuracy of payroll accounting entries by periodically reviewing employee data and ensuring timely salary, benefits, and pension payments.
• Supervise fixed assets accounting activities as per approved policies and procedures.
• Ensure standardized coding for assets and stay informed of best practices.
• Develop an assets reporting framework in line with applicable laws and regulations.
• Ensure depreciation is charged on all assets in compliance with approved standards and regulations.
• Manage financial review of asset disposal and provide feedback on disposal decisions.

Financial Reporting and Analysis

• Develop monthly, quarterly, and annual accounting statements and reports with supporting schedules.
• Continuously analyze and evaluate the recording of all financial transactions, journal entries, and postings to ledgers for accuracy, completeness, and compliance.
• Ensure detailed instructions for monthly, quarterly, and year-end closing for all departments and monitor the closing process.
• Approve reports and presentations related to Function activities and achievements for reporting and decision-making.

Work Environment

This role is based in Riyadh, Riyadh, Saudi Arabia, and is a full-time position within the Water Transmission Company. The General Accounting Manager will operate within a structured environment, ensuring financial operations align with company policies and regulatory standards.