Manager Finance (SPV/Projects) Saudi Nationals📣 إعلان

About the Role

Aljomaih Energy and Water Company is seeking a Manager Finance (SPV/Projects) to join their team in Riyadh, Saudi Arabia. This full-time role is crucial for delivering timely and accurate financial information to management by establishing robust accounting and control systems. The Manager will analyze accounting data, prepare comprehensive financial reports, and ensure the effective distribution of financial insights to senior management to facilitate informed decision-making. The position also plays a key part in assisting management with strategic growth plans and assessing the health of the company's portfolio.

Financial Operations and Controls

This role involves overseeing the core financial accounting processes and ensuring strong internal controls. Key responsibilities include:

• Overseeing and coordinating monthly, quarterly, and annual financial closing processes, including booking revenues, development costs, and completing all monthly reconciliations.
• Ensuring compliance with accounting standards and regulations, maintaining accurate financial records, and implementing operational best practices.
• Creating and implementing accounting practices and purchasing guidelines, ensuring consistent updates to company procedures.
• Implementing and strengthening financial controls to safeguard company assets and prevent fraud.
• Establishing and maintaining effective relationships across all departments to ensure timely resolution of financial issues.
• Developing and optimizing financial accounting and reporting systems for accuracy and timeliness.
• Taking a leading role in driving and participating in organization-wide financial transformation initiatives.
• Coordinating external and internal audits, liaising with auditors, and ensuring timely resolution of issues.
• Maintaining internal controls by preparing and recommending policies and procedures, and substantiating financial transactions through document auditing.

Financial Planning, Forecasting, and Modelling

The Manager Finance will be responsible for comprehensive financial planning and analysis, including:

• Coordinating the preparation of annual budgets, periodic forecasts, and long-term financial projections, ensuring alignment with operational plans and contractual requirements.
• Operating and maintaining the company's integrated financial model, incorporating various operating assumptions and financial components.
• Updating financial forecasts under different operating and commercial scenarios, including sensitivity and stress testing of key assumptions.
• Collaborating with Operations, Commercial, Technical, and other functions to validate key financial and operational assumptions.
• Monitoring actual performance against budget and forecast, analyzing variances, and recommending corrective actions.
• Preparing forward-looking cash flow forecasts and liquidity projections, assessing funding requirements and debt service obligations.
• Maintaining the financial model to reflect changes in operating performance, contractual arrangements, and other material developments.
• Providing financial analysis to management for business decisions, such as major maintenance and capital expenditure initiatives.

Lender, Financing, and Covenant Management

This role includes managing relationships and compliance related to financing agreements:

• Calculating and monitoring key financial covenants and project finance ratios using financial models.
• Maintaining forward-looking covenant forecasts to identify potential headroom constraints or breaches early.
• Coordinating the preparation and submission of periodic financial information, compliance certificates, and lender reports.
• Preparing debt service requirements, interest payments, principal repayments, and DSRA reserve account requirements.
• Ensuring accurate and timely reporting of covenant calculations and financial information to management, the Board, Shareholders, and Lenders.

Tax and Regulatory Compliance

The Manager Finance will ensure adherence to all tax and Zakat requirements:

• Collaborating with Tax/Zakat teams on ongoing compliance matters.
• Managing all compliance requirements related to VAT, Corporate Tax, and Zakat.
• Taking proactive action to address compliance requirements within accounting and control systems.

Qualifications and Professional Development

Candidates for this position should possess 5-10 years of relevant experience in finance, particularly within SPV or project finance contexts. Additionally, the role involves coaching accounting staff, identifying growth needs, and implementing development plans to foster professional growth within the team.