Finance Manager

About the Role

UFCGYMKSA is seeking a Finance Manager to lead and manage the company’s financial and accounting activities in Riyadh, Saudi Arabia. This full-time role involves ensuring the accuracy and integrity of financial information, managing cash flow and budgets, strengthening financial controls, and providing reliable financial analysis to support senior management decision-making. The position requires over 10 years of relevant experience.

Key Responsibilities

• Prepare annual budgets, financial forecasts, and long-term financial plans.
• Monitor actual financial performance against approved budgets and explain significant variances.
• Prepare and review monthly, quarterly, and annual financial statements and management reports.
• Monitor revenue, expenses, profitability, and financial performance by branch, department, and business activity.
• Analyze the financial performance of memberships, personal training, group classes, sports programs, and retail activities.
• Manage the company’s cash flow and ensure sufficient liquidity for payroll, supplier payments, and operational obligations.
• Prepare short-, medium-, and long-term cash flow forecasts.
• Supervise accounts payable, accounts receivable, collections, bank reconciliations, and general ledger activities.
• Monitor customer and supplier balances to ensure timely collection and payment.
• Review operating expenses for compliance with approved budgets, policies, and delegated authority limits.
• Review purchasing transactions, contracts, and financial commitments before approval.
• Prepare branch profitability, break-even, contribution margin, and variance analysis reports.
• Monitor operating costs, cost of sales, inventory movements, wastage, adjustments, and stock valuation.
• Supervise periodic and annual inventory counts and reconcile physical inventory with financial and operational systems.
• Manage relationships with banks, financial institutions, payment providers, and point-of-sale service providers.
• Monitor loans, banking facilities, financing agreements, repayment schedules, and financial obligations.
• Review payroll, commissions, incentives, and bonuses in coordination with the Human Resources Department.
• Ensure compliance with VAT, Zakat, tax, and other financial and regulatory requirements.
• Coordinate with external auditors, consultants, banks, and government authorities.
• Develop and implement financial policies, procedures, internal controls, and approval authorities.
• Ensure proper integration between accounting, membership, point-of-sale, payroll, and inventory systems.
• Lead, supervise, and evaluate the performance of the finance team.
• Provide financial recommendations to senior management regarding cost reduction, revenue improvement, profitability, and operational efficiency.
• Prepare financial feasibility studies for new branches, expansions, investments, and major projects.
• Identify financial and operational risks and recommend appropriate mitigation measures.
• Perform other finance-related duties assigned by the Chief Executive Officer.

Authority and Decision-Making

• Review and approve financial transactions within the approved delegation of authority.
• Request financial documents, reports, and supporting information from all departments and branches.
• Reject or suspend financial transactions that are incomplete, unsupported, or non-compliant with company policy.
• Recommend changes to financial policies, budgets, controls, and procedures.
• Communicate with banks, auditors, and financial service providers as authorized by senior management.
• Evaluate finance team members and recommend recruitment, training, promotion, or disciplinary action.

Required Experience

• A minimum of 10 years of experience in finance and accounting roles.

Working Relationships

The Finance Manager will engage with various internal and external stakeholders to fulfill the responsibilities of the role.

• Internal: Chief Executive Officer, Operations, Sales, Marketing, Human Resources, Procurement, and Branch Management.
• External: Banks, external auditors, tax and Zakat authorities, suppliers, financing institutions, and payment service providers.