CFO- Portfolio Management (Saudi National)📣 Job Ad

About the Role

RIG (Recruitment International Group) is seeking a Saudi National to fill the position of CFO- Portfolio Management. This role is based in Riyadh, Saudi Arabia, and is responsible for the financial oversight and governance of a portfolio of project companies and O&M subsidiaries operating across various geographies. The CFO-Portfolio Management will serve as a key liaison between the Group CFO and project-level finance teams, ensuring financial alignment and transparency across all managed assets. A strong understanding of the power and water sectors in Saudi Arabia, including the Independent Power Producer (IPP) framework, its regulatory environment, and commercial structures under long-term agreements, is essential.

Role Responsibilities

The role involves leading the review and consolidation of financial results, business plans, and performance targets for both operational and construction-stage projects, ensuring timely and accurate reporting to senior management. The incumbent will provide strategic financial guidance to project-level CFOs and O&M finance heads to drive operational excellence, cost efficiency, and compliance. This position also requires coordinating financial matters with diverse project stakeholders, including lenders, government counterparties, EPC contractors, O&M providers, and other service contractors, to maintain financial discipline and align with contractual and corporate objectives.

• Provide monthly and quarterly business performance reviews to the CFO and CEO.
• Deliver consolidated Medium-Term Plan (MTP) reviews by asset, investment, and project.
• Collaborate with project CFOs to ensure efficient business performance and MTP reviews with country operations.
• Conduct in-depth cost analysis to identify areas for optimization and efficiency.
• Prepare and organize quarterly review meetings for support functions including Finance, HR, Legal, and IT.
• Support the setting of General & Administrative (G&A) performance plan targets and propose action plans in close coordination with countries and projects.
• Monitor, review, and execute G&A performance action plans to achieve set objectives.
• Coordinate and perform specific ad hoc performance reviews and financial analysis for projects.
• Challenge country-level financial figures and their accuracy, particularly regarding business performance translation into finance and cost optimization efforts.
• Propose potential areas for improvement, including actionable plans to achieve performance targets.
• Manage relationships with partners and key stakeholders, ensuring alignment of financial goals and objectives.
• Oversee accounting and audit functions for all projects within the portfolio, ensuring compliance with regulatory standards and internal policies.
• Ensure accurate and timely financial reporting for all projects, maintaining transparency and accountability.
• Collaborate with project-level CFOs to develop and implement financial strategies that support overarching business objectives.
• Lead financial planning, budgeting, and forecasting processes across the entire portfolio.
• Implement and maintain effective internal controls to safeguard company assets and ensure financial integrity.
• Provide strategic financial guidance to support informed decision-making processes at both the project and group levels.
• Drive continuous improvement initiatives to enhance financial performance and operational efficiency across the portfolio.
• Mentor and develop the finance team, fostering a culture of excellence and continuous learning.
• Oversee and support the financial performance and governance of O&M subsidiaries, ensuring alignment with group standards, contractual commitments, and performance targets.
• Collaborate closely with project-level CFOs, EPC contractors, and O&M service providers to ensure transparent cost control, cash flow discipline, and contract compliance.
• Monitor financial interfaces among shareholders, lenders, contractors, and government offtakers to ensure proper coordination and timely issue resolution.
• Provide oversight on project-level financial models, refinancing initiatives, and variation order evaluations to ensure consistency across the portfolio.
• Drive efficiency in project and corporate reporting cycles, ensuring accurate consolidation of project results and timely escalation of key variances.
• Serve as the key financial contact for internal and external stakeholders involved in construction and operational phases, including EPC, O&M, and technical advisory teams.

Qualifications and Requirements

Candidates for this role must possess a university degree in Finance, Economics, an MBA, or a relevant professional qualification. A minimum of 10 years of experience in accounting or business controlling, with experience at both operational entity and corporate levels, is required. Proven experience within the Kingdom of Saudi Arabia in the independent power and water producer (IPP/IWP) sector is essential, demonstrating a strong understanding of regulatory, financial, and contractual frameworks. Proficiency in IT Finance Systems or equivalent is necessary. Experience with MDT controlling tools, Smart consolidation tools, and ERP systems is advantageous. Hands-on experience in portfolio reporting and ERP-based performance management is expected, alongside demonstrated experience in performance improvement, efficiencies, and process simplification.

• A university degree in Finance, Economics, or an MBA or relevant professional qualification.
• A minimum of 10 years of experience in accounting or business controlling, with some experience at both operational entity and corporate levels being advantageous.
• Proven experience within the Kingdom of Saudi Arabia in the independent power and water producer (IPP/IWP) sector, demonstrating a strong grasp of regulatory, financial, and contractual frameworks.
• Proficiency in IT Finance Systems or equivalent. Experience with MDT controlling tools, Smart consolidation tools, and ERP systems is a plus.
• Hands-on experience in portfolio reporting and ERP-based performance management.
• Demonstrated experience in performance improvement, efficiencies, and process simplification.
• A sound business orientation rooted in an understanding of value creation levers and a cost optimization mindset.
• Ability to build and update relevant analytical reports.
• Possesses rigorous analytical skills, along with good organizational and planning skills.
• Strong capabilities in structured, business-oriented communication and delivering effective executive syntheses in writing.
• An interest in developing knowledge of the business models and challenges of diverse projects.
• The ability to communicate effectively at various organizational levels, across different geographical locations, and with individuals from diverse cultural backgrounds.
• Strong interpersonal and communication skills.
• Ability to effectively manage relationships with government stakeholders, lenders, and both local and international partners in large-scale project environments.
• Familiarity with EPC and O&M contract structures, financial terms, and performance-linked mechanisms.
• Demonstrates the ability to oversee multiple project and O&M finance teams, ensuring unified standards of reporting, compliance, and performance tracking across diverse contractual environments.

Key Skills

• Financial Performance Management
• Portfolio Governance
• Financial Reporting
• Business Plan Development
• Performance Target Setting
• Cost Analysis
• Financial Planning
• Budgeting
• Forecasting
• Internal Controls Implementation
• Financial Strategy Development
• Cost Control
• Cash Flow Discipline
• Contract Compliance
• Financial Modeling
• Refinancing
• Variation Order Evaluation
• Project Reporting
• Financial Consolidation
• Variance Analysis
• Stakeholder Management
• Accounting Principles
• Audit Functions Oversight
• Regulatory Compliance
• IT Finance Systems Proficiency
• MDT Controlling Tool (preferred)
• Smart Consolidation Tool (preferred)
• ERP Systems
• ERP-based Performance Management
• Performance Improvement Initiatives
• Process Simplification
• Value Creation Levers Understanding
• Cost Optimization Mindset
• Analytical Report Generation
• Rigorous Analytical Skills
• Organizational Skills
• Planning Skills
• Structured Business-Oriented Communication
• Executive Synthesis
• Interpersonal Skills
• Communication Skills
• Relationship Management
• EPC Contract Structures Knowledge
• O&M Contract Structures Knowledge
• Financial Terms Understanding
• Performance-Linked Mechanisms
• Operational and Project Integration

Work Environment and Details

This is a full-time position based in Riyadh, Saudi Arabia. The role requires a minimum of 10 years of experience. The company is RIG (Recruitment International Group).