Cost Accounting Manager

About the Role

The Water Transmission Company (شركة نقل المياه) is seeking a Cost Accounting Manager to join their team in Riyadh. This full-time position involves overseeing cost control activities and ensuring adherence to established policies and procedures within the organization.

Role Purpose and Scope

The primary purpose of this role is to manage and optimize cost accounting functions. This includes developing and implementing costing methodologies, providing financial insights for decision-making, and ensuring the efficient operation of financial processes. The manager will contribute to the Business Finance Division's strategic plan and lead the operational planning for the Cost Accounting Function.

Key Responsibilities

• Contribute to the development of the Business Finance Division plan and create the operational plan for the Cost Accounting Function.
• Develop key performance indicators for the Cost Accounting Function and monitor progress against the operational plan.
• Implement the Cost Accounting Function’s framework, methodologies, techniques, and principles.
• Ensure the Cost Accounting Function’s operational plan is clearly communicated and understood across all levels.
• Optimize resources and ensure team efficiency, providing recommendations for improvement.
• Develop budget requirements for the Cost Accounting Function, aligning with plans and needs.
• Develop procedures to ensure all actions are conducted systematically.
• Make operational decisions and escalate key decisions to senior management as required.
• Develop a tailored costing methodology to provide cost insights.
• Apply a cost justification framework to support decisions regarding complex costs.
• Provide insights for price setting parameters.
• Provide costing principles for departments based on experience and benchmarks.
• Assess spending risks and opportunities within the budget for decision-making.
• Ensure the reconciliation process operates smoothly and in a timely manner.
• Ensure timely processing of payments, including payroll and supplier payments.
• Ensure compliance of fixed assets accounting with policies and procedures.
• Provide advice and solutions for efficient cost-cutting.
• Build and maintain solid relationships with external stakeholders, such as governmental entities and consultants, to serve the company’s best interests.
• Approve reports and presentations related to Department activities and achievements for reporting and decision-making.

Internal and External Communications

This role requires regular interaction with various stakeholders to ensure effective cost management and financial alignment.

• Internal Stakeholders: Corporate Finance, General Accounting, and all other departments.
• External Stakeholders: Governmental entities and consultants.

Work Environment

This is a full-time position based in Riyadh, focusing on critical financial operations within the Water Transmission Company. The role operates within the Business Finance Division, collaborating closely with various internal departments to achieve financial objectives.