Finance Manager

About the Role

Petromin Corporation is seeking a Finance Manager to lead end-to-end financial operations for multi-brand dealerships, including showrooms, service centers, and parts branches. This full-time position is based in Makkah, specifically covering operations in Jeddah and Makkah. The role involves acting as the primary financial liaison with OEMs and partnering with branch managers to enhance profitability. This job description covers both Finance Manager and Chief Accountant positions, with the latter focusing on core accounting duties such as month-end close, revenue recognition, inventory valuation, sub-ledger reconciliation, and ZATCA/VAT controls.

Key Responsibilities

• Direct the full accounting cycle and month-, quarter-, and year-end close across all showrooms, workshops, and parts branches to deliver accurate and timely financial statements.
• Ensure accurate booking of landed costs (customs, port handling, freight, PDI) and analyze gross margins by VIN, model, and channel (retail vs. fleet) to highlight risks and protect margins.
• Control accounting for vehicle and parts inventory, including VIN-level tracking, demo fleets, service loaners, and provisions for aged vehicles and obsolete parts. Ensure CAPEX meets OEM Corporate Identity standards for correct asset valuation.
• Deliver financial dashboards and track dealership KPIs (aftersales absorption, return on sales, inventory turn) to support executive decisions and forecasting.
• Partner with operations to compile budgets and forecasts, setting realistic targets and tracking performance against them.
• Act as the primary finance contact for OEM transactions, reconciling statements, volume bonuses, holdbacks, warranty claims, and campaign support to recover all amounts due.
• Ensure correct revenue recognition across new and used vehicle sales, fleet sales, aftersales (labor and parts), and F&I commissions, in line with company practice, for accurate revenue reporting.
• Partner with Showroom and Aftersales Managers, review branch P&Ls, and investigate variances to drive showroom and workshop profitability.
• Track Letters of Credit and bank facilities for vehicle procurement with Treasury, and manage receivables with Credit and payables with AP to optimize cash flow and financing costs.
• Utilize Autoline controls to align vehicle, parts, and service sub-ledgers with the general ledger, ensuring compliance with accounting standards, ZATCA/VAT, and internal controls to reduce financial risk.
• Standardize financial workflows across branches to prevent revenue leakage.

Performance Measures

• Timely and accurate month-end, quarter-end, and year-end close.
• Timely reconciliation and collection of OEM receivables (volume bonuses, holdbacks, warranty, campaign support).
• Achievement of gross margin per unit by model and channel versus budget.
• Effective inventory turn and adequacy of aged vehicle and obsolete parts provisions.
• Management of receivables days (DSO) and overdue balances.
• Accuracy of budget and forecasts.
• Timely closure of audit findings and zero ZATCA/VAT penalties.
• Accuracy of sub-ledger to general ledger reconciliation in Autoline.

Qualifications and Experience

Candidates should possess 5-10 years of relevant experience in finance or accounting roles, preferably within a dealership or multi-brand environment. A strong understanding of financial operations, accounting cycles, and compliance standards is required.

Technical Competencies

• Proficiency in the full accounting cycle and month-end close processes.
• Expertise in COGS and margin management, including landed cost booking and gross margin analysis.
• Strong capabilities in inventory and asset valuation, including VIN-level tracking and provisions.
• Experience with MIS and KPI reporting, developing financial dashboards and tracking dealership performance metrics.
• Skills in budgeting and forecasting, partnering with operational teams.
• Ability to perform OEM reconciliations for various transactions and claims.
• Knowledge of revenue recognition principles across diverse sales and service channels.
• Experience in branch business partnering, reviewing P&Ls, and driving profitability.
• Understanding of working capital and trade finance, including Letters of Credit and managing receivables/payables.
• Proficiency in using financial systems like Autoline for sub-ledger reconciliation and ensuring compliance with accounting standards, ZATCA/VAT, and internal controls.

Work Location

This full-time position is based in the Makkah region, with responsibilities covering operations in Jeddah and Makkah.