Director Transaction Accounting📣 Job Ad

About Saudi Entertainment Ventures (SEVEN)

Saudi Entertainment Ventures (SEVEN) is seeking a Director Transaction Accounting to join its team in Riyadh, Saudi Arabia. This full-time role is integral to managing the transactional accounting functions across SEVEN's diverse operations, which include entertainment complexes, cinemas, and corporate streams.

Role Purpose

The Director Transaction Accounting is responsible for leading SEVEN's transactional accounting function, specifically Accounts Payable (AP) and Accounts Receivable / Revenue. This involves overseeing centralized AP and AR teams to ensure accurate and timely processing of all payable and revenue transactions. Key objectives include driving revenue assurance, managing vendor relationships, and delivering operational excellence across all transactional finance processes.

Core Responsibilities

• Direct all accounts payable activities with outsource partners, including the recording and management of advance payments, prepaid expenses, invoice validation, and balance confirmation with vendors.
• Oversee the recording and management of petty cash and corporate credit card records.
• Ensure the accuracy of Accounts Payable transactions and ongoing integrity to the General Ledger (GL), managing invoice aging reports and conducting periodic variance analysis.
• Direct all accounts receivable activities, encompassing the preparation, recording, and verification of documentation to maintain accuracy.
• Guide the revenue function and business units to adhere to applicable revenue policies and guidelines.
• Ensure all revenues are billed accurately and services rendered are of quality, managing financial transactions for commercial promotions, discounts, and commissions.
• Provide oversight for cash collection, including daily review of cash reconciliations from Business Unit Finance teams and escalation of discrepancies.
• Monitor and report leasing revenue, ensuring compliance with IFRS 16 and IFRS 15 revenue recognition policies.
• Ensure ZATCA e-invoicing compliance for all AR transactions, including timely and accurate submission in line with Phase 2 requirements.
• Direct revenue assurance controls, including review of system-generated reconciliations, variance identification, and escalation for resolution.
• Oversee daily reconciliation of revenue across all POS systems (VGS, Micros, Vista) to ensure completeness and accuracy of revenue recognition.
• Direct the preparation of aging reports and recording of allowance journal entries.

Strategic Leadership and Governance

• Develop Transaction Accounting objectives and scorecards in alignment with Finance objectives, covering AP throughput, AR collection performance, revenue reconciliation accuracy, and operational SLAs.
• Act as SEVEN’s representative with internal and external audit to ensure compliance with external standards and SEVEN policies.
• Maintain strong working relationships with key stakeholders within and outside SEVEN, including QIC group finance.
• Develop Transaction Accounting policies and procedures covering AP processing, payment authorization, revenue recognition, ZATCA compliance, and AR collections.
• Monitor the implementation of policies and procedures to ensure operational excellence across SEVEN's complex and corporate finance streams.
• Direct employee performance management processes within Transaction Accounting in alignment with HR policies and procedures.

Required Qualifications and Experience

• Education: Bachelor’s degree in Finance, Accounting, or an equivalent field.
• Certifications: Professional certification in Finance or Accounting (*, CPA, SOCPA, CFA, CFP) is preferred.
• Experience: 12-15 years of relevant experience, with at least 5 years in a management role.
• Prior experience with a Big 4 audit firm (in Audit and Assurance) is preferred.
• Demonstrated experience in high-volume AP and AR operations, utilizing ERP systems (SAP preferred).
• Familiarity with revenue management systems (VGS, Micros, Vista) and ZATCA e-invoicing compliance is an advantage.
• Experience in transactional accounting within the entertainment, hospitality, or retail sectors is preferred.

Work Type and Location

This is a full-time position based in Riyadh, Saudi Arabia, requiring a dedicated professional to lead and manage critical financial operations within a dynamic entertainment and leisure environment.