Chief Accountant

About Boutique Group and The Red Palace

Boutique Group is reimagining The Red Palace in Riyadh as an ultra-luxury boutique hotel. Originally built in 1943, this historic Palace blends timeless elegance with contemporary sophistication, offering an exclusive glimpse into the Kingdom’s past through meticulously restored architecture, curated cultural experiences, and unparalleled service. The Red Palace aims to provide an environment where history, prestige, indulgence, tradition, and innovation converge.

Role Summary

The Chief Accountant will oversee the company's accounting operations, ensuring accurate financial reporting, regulatory compliance, and effective management of accounting staff. This full-time role, based in Riyadh, is integral to financial planning, analysis, and safeguarding the company’s assets. The position requires 5-10 years of relevant experience.

Key Responsibilities

• Lead, mentor, and inspire the accounting team, fostering a culture of accountability, collaboration, and continuous professional growth.
• Ensure timely, accurate, and compliant preparation of financial statements, statutory filings, and management reports in line with local regulations and accounting standards.
• Oversee all accounting functions, including Credit Manager, Accounts Payable, General Cashier cum Paymaster, Income Auditor, Cost Controller, Fixed Assets, and balance sheet reconciliations, ensuring timely month-end closing and accurate ledgers.
• Monitor cash flow, budgets, and forecasts; provide actionable insights and recommendations to optimize financial performance and support strategic objectives.
• Develop, implement, and maintain robust accounting policies, procedures, and internal controls to enhance efficiency, accuracy, and risk management.
• Coordinate and support internal and external audits, liaise with tax authorities and other local government departments, ensure timely resolution and proactive follow-up on audit findings, and continuously strengthen financial governance and risk management.
• Partner with department heads and leadership to provide financial guidance, cost management, and resource allocation strategies.
• Maintain effective internal communication with the management team and all colleagues within the Palace, finance teams across other Palaces/Hotels, and Regional/Corporate functions.
• Manage external communication with internal/external auditors, tax authorities and other local government authorities, suppliers, and key customers.
• Drive continuous improvement initiatives, encourage adoption of best practices, and leverage technology and analytics to enhance the accounting function.

Main Duties

• Act as second-in-command to the Director of Finance to support the achievement of hotel objectives.
• Ensure the capital replacement and disposal policy is enforced as per company directives and in line with the management agreement.
• Maintain a detailed understanding of local accounting and tax rules and ensure all reporting complies with company directives.
• Lead, support, and coordinate all internal and external audit visits and maintain strong relationships with key audit stakeholders, with proactive follow-up on audit issues raised.
• Provide value-added business performance reporting to give Operations the tools to identify areas for improvement.
• Provide accurate forecasting of the business to determine the correct allocation of resources and maximize business performance.
• Lead the Finance team to drive improved performance and develop talent, creating solid succession planning within the Palace and beyond for the Group.
• Support the Director of Finance in driving the annual budgeting and forecasting process to ensure all departments deliver according to approved targets and timelines.
• Responsible for all aspects of the financial management of the property, including administering accounting policies and procedures, adhering to procurement practices and procedures, preparing and interpreting financial statements and management reports, budgetary control, and ensuring compliance with Boutique Group and Red Palace standards and all applicable legal/contractual requirements.

Qualifications and Experience

• 5-10 years of experience in accounting roles.
• Demonstrated leadership and team development capabilities.
• Strong understanding of financial reporting, regulatory compliance, and accounting standards.
• Experience in managing accounting operations and internal controls.

Work Environment

This is a full-time position based in Riyadh, Saudi Arabia, within the unique setting of The Red Palace. The role involves collaboration with various internal departments and external stakeholders.