Commercial Financial Controller

About the Role

Alfanar is seeking a Commercial Financial Controller to join its team in Riyadh, Saudi Arabia. This full-time role involves overseeing and contributing to the factory’s financial planning, budgeting, cost management, and reporting activities. The objective is to ensure accurate cost allocation, optimal resource utilization, and adherence to accounting standards to support profitability and improve operational performance.

Key Responsibilities

• Manage budgets, accounts, and financial operations across production units to meet internal and external reporting requirements.
• Coordinate the development of annual and long-term operating and capital budgets, ensuring alignment with production plans.
• Oversee product costing, bill of materials (BOM), and analyze cost variances with production and procurement teams.
• Ensure accurate valuation of raw materials, work-in-progress (WIP), and finished goods inventories.
• Set and monitor cost center allocations, overhead distribution, and internal transfer pricing.
• Manage fixed asset records, including asset tagging, depreciation, and capital expenditure (CAPEX) tracking.
• Contribute to financial forecasting by analyzing production capacity, demand trends, and material costs.
• Conduct profitability analysis of product lines and recommend adjustments to improve margins.
• Perform variance analysis between budgeted and actual figures to assess performance.
• Monitor production cost efficiency against budgets and KPIs, recommending corrective measures.
• Identify cost-saving opportunities in materials, labor, and overhead.
• Prepare and review periodic financial and management reports, including cost reports and inventory movement.
• Ensure compliance with accounting standards and internal control procedures.
• Supervise the year-end closing process, including preparation of final accounts.

Role Accountabilities

• Recruit, recognize, and cultivate high performers to develop a robust second line of management.
• Guide low performers for improvement or manage their release.
• Ensure fair treatment of subordinates based on performance.
• Take full responsibility for operations and deliverables as per the job description and company guidelines.
• Anticipate problems and take proactive steps to prevent them, making timely decisions.
• Deliver required results in a timely manner with specified quality and cost.
• Make a tangible difference in the area of operation and exceed business expectations.
• Transform corporate goals into business plans, monitor performance, and initiate corrective actions.
• Develop the organizational structure according to current and future requirements.
• Develop and coordinate well-defined written systems, policies, and procedures, seeking automation opportunities.
• Promote the use of automated systems and ensure a safe, secure, and legal work environment.

Qualifications and Experience

• 5-10 years of relevant experience.

Work Environment

This is a full-time position based in Riyadh, Riyadh, Saudi Arabia. The role operates within a framework that prioritizes quality as a prime competitive advantage and requires adaptation to new techniques, technologies, and business models.

Application Process

Candidates interested in this Commercial Financial Controller position at Alfanar are encouraged to apply. Salary details will be discussed during the interview process.