Lead Financial Specialist📣 Job Ad

About the Role

Ashraq Development Company is seeking a Lead Financial Specialist to join its team in Al Khobar, Saudi Arabia. This full-time position is responsible for overseeing and enhancing financial control and reporting functions, ensuring adherence to international and local accounting standards, and mitigating financial risks. The role involves maintaining the accuracy and integrity of financial statements, providing insights to senior management, and leading key financial processes such as external audits and new contract assessments. A strong understanding of IFRS and SOCPA, along with exceptional analytical and leadership capabilities, is required.

Key Responsibilities

• Lead financial control and reporting activities, ensuring the accuracy, completeness, and timeliness of financial statements in compliance with International Financial Reporting Standards (IFRS) and Saudi Organization for Certified Public Accountants (SOCPA) requirements.
• Establish, implement, and enhance financial control frameworks, policies, and internal controls to safeguard company assets and mitigate financial and operational risks.
• Review and analyze financial statements, variance analyses, and management reports, providing clear explanations and actionable insights to senior management.
• Manage the external audit process, serving as the primary point of contact with external auditors and ensuring the resolution of audit findings.
• Oversee the implementation and interpretation of new or revised accounting standards, ensuring their proper adoption and documentation.
• Ensure ongoing compliance with IFRS and SOCPA, proactively identifying and resolving potential issues.
• Conduct IFRS assessments for draft contracts prior to tendering, evaluating accounting treatment, revenue recognition implications, and overall financial impact.
• Stay current with evolving accounting standards, regulatory updates, and industry best practices, embedding necessary changes into reporting and control processes.

Qualifications and Experience

• A Bachelor's degree in Accounting is required.
• A minimum of 6 years of progressive experience in Financial Control, Accounting, or Financial Reporting roles is essential.
• Possess strong, hands-on knowledge of IFRS and solid familiarity with SOCPA requirements.
• Demonstrated experience in leading external audits and effectively managing internal control systems.
• Possession of SOCPA and/or CPA certification is considered a significant advantage.

Required Skills and Attributes

• Financial Control
• Financial Reporting
• IFRS (International Financial Reporting Standards)
• SOCPA (Saudi Organization for Certified Public Accountants)
• Internal Controls
• Audit Management
• Accounting Standards
• Revenue Recognition
• Attention to Detail
• Professional Judgment

Work Context

This is a full-time position based in Al Khobar, Eastern Province, Saudi Arabia. The role requires 5-10 years of relevant experience.