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Contract TypeContract TypeFull-time
Workplace typeWorkplace typeOn-site
LocationLocationDhahran
Job Summary:
The Accounting Specialist will support financial accounting operations, including general ledger maintenance, financial reporting, compliance, reconciliation, and cost analysis. The role also includes accounts payable and receivable management, cash flow monitoring, tax compliance, and audit support, ensuring accuracy and timeliness in financial transactions while maintaining strong internal controls.

Key Responsibilities:
  • Budgeting & Financial Planning: Prepare annual budgets, quarterly management accounts, and ad-hoc reports, ensuring accurate financial planning and alignment with company objectives. Develop financial performance reports at the Business Unit level, highlighting cost/revenue trends and identifying areas requiring corrective action. Prepare projected financial statements based on approved budgets to provide visibility into future financial performance.
  • Financial Accounting & Bookkeeping: Maintain and update Wa'ed's general ledger, ensuring accurate recording of financial transactions in accordance with internal procedures, regulatory standards, and international accounting practices. Conduct monthly account reconciliations, analyzing account movements, clearing outstanding items, and ensuring accurate ledger balances. Review general ledger allocations, responding to queries from internal departments and preparing journal vouchers for necessary corrections or reclassifications. Control and monitor general ledger accounts, ensuring total debits and credits are reconciled, and all transactions align with accounting standards. Oversee fixed asset management, including classification, depreciation schedules, write-offs, and compliance with fixed asset accounting policies.
  • Accounts Payable: Process and verify invoices, cash calls, disbursements, advance payments, and other ad-hoc payments, ensuring accuracy, compliance with contractual terms, and adherence to processing deadlines.
  • Accounts Receivable & Collections: Prepare and track ageing reports, ensuring timely collection of outstanding receivables. Communicate collection updates to the operations team, assisting in follow-ups and resolution of overdue accounts.
  • Banking & Cash Management: Monitor daily cash positions and bank balances, ensuring sufficient liquidity to meet financial obligations. Prepare cash call requests to Saudi Aramco for funding needs. Coordinate with banks to obtain statements, investigating and resolving discrepancies or unexpected charges. Prepare bank reconciliations, ensuring alignment between financial records and banking transactions.
  • Financial Reporting & Audit Support: Prepare year-end financial statements and supporting documents, ensuring compliance with Wa'ed's accounting policies, chart of accounts, and accounting standards. Liaise with external auditors, providing necessary documentation and responses during audits. Assist in the preparation of VC valuations, loan provisioning, and other financial workings to support financial statement entries. Prepare financial stewardship reports, including KPI/LOI reporting to meet Saudi Aramco requirements.
  • Financial Due Diligence, Valuation & Reporting Support: Prepare promissory notes for entrepreneurs and conduct functional reviews or financial due diligence on loan and VC transactions. Develop familiarity with investee valuation exercises and the ability to conduct independent financial valuations using methodologies such as DCF, market comparables, and transaction analysis. Critically evaluate valuation assumptions, identifying risks, inconsistencies, or potential overstatements in financial projections.
  • Compliance, Policies & Internal Controls: Implement and maintain accounting policies, procedures, and internal controls, ensuring compliance with regulatory requirements. Support process improvements to enhance efficiency, accuracy, and cost-effectiveness in financial operations.

Working Conditions:
The Accounting Specialist will work in a dynamic and fast-paced environment, often under tight deadlines, with a supportive finance team. The position may occasionally require extended hours or weekend work to meet reporting deadlines.

Qualifications and general competencies:
  • Bachelor's degree in Accounting, Finance, or a related field
  • 510 years of relevant experience in accounting or finance
  • Partial or full pursuit of SOCPA, CPA, ACCA, CMA, or CFA certification is strongly preferred
  • Strong knowledge of accounting principles and financial reporting standards
  • Proficiency in accounting software and financial management tools
  • Excellent attention to detail and accuracy in financial reporting
  • Strong problem-solving skills and ability to work in a fast-paced environment
  • Ability to collaborate effectively within teams and work independently when needed
  • Strong communication written and presentation skills to interact with internal and external stakeholders
  • Ability to multitask while meeting deadlines and maintaining a high level of efficiency

Requirements

  • No experience required

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Flowserve is a world-leading manufacturer and aftermarket service provider of comprehensive flow control systems. We are committed to building a more sustainable future and ensuring our customers receive innovative flow control products and services.

Role Overview:
As an Accountant, you will play a pivotal role in analyzing financial data, preparing reports, and supporting month-end closings in accordance with US-GAAP. You will manage general ledger activities, balance sheet reconciliations, and SOX controls while working closely with internal teams, vendors, and customers, particularly on fixed asset matters.

Your Responsibilities:
  • Actively participate in assigned accounting and month-end closing processes under US-GAAP.
  • Perform Accounting activities with the team.
  • Provide daily and monthly reports and assist colleagues from the General Accounting team.
  • Conduct month-end closings, general ledger account analysis, and balance sheet account reconciliations, and prepare SOX controls.
  • Maintain continuous contact with vendors and customers regarding fixed asset issues.
  • Assist in resolving any issues that could impact timely month-end closings.

Your Profile:
You should have a BS or BA degree in Accounting or a relevant field, along with 57 years of accounting experience. SOCPA membership is required. Strong communication skills in English and proficiency in MS Office and basic ERP systems (like Oracle or SAP) are essential. We value an analytical mindset, attention to detail, and problem-solving skills, along with the ability to adapt to change and collaborate in dynamic environments.

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locationDhahran

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