Head of Accounting

About the Role

Alqotr is seeking a Head of Accounting to join their team in Riyadh, Saudi Arabia. This full-time role involves managing and overseeing all accounting operations, ensuring the accuracy, completeness, and integrity of financial data and records. The Head of Accounting will also ensure compliance with approved accounting policies, procedures, and standards, providing accurate and timely financial information to support management decision-making.

Key Responsibilities

• Oversee daily accounting operations, ensuring accurate and timely transaction recording.
• Manage Accounts Receivable (AR), Accounts Payable (AP), General Ledger (GL), and payroll accounting activities.
• Review material accounting transactions and journal entries within approved authority limits, ensuring complete supporting documentation and accurate accounting treatment.
• Lead Month-End and Year-End Closing processes, including preparing and monitoring the closing calendar, completing reconciliations, and reviewing financial statements.
• Oversee the preparation and review of financial statements and periodic reports, including the Balance Sheet, P&L, and Management Reports.
• Implement and monitor internal controls related to the accounting cycle, including segregation of duties and approval matrices.
• Coordinate with External Auditors and Internal Audit, preparing schedules and responding to inquiries.
• Participate in the preparation and updating of accounting policies and procedures, ensuring their application.
• Manage and develop the accounting team, allocating tasks, monitoring performance, and identifying development needs.

Areas of Oversight

• Accounts Receivable: Customer invoicing, balances, collections, AR Aging, and reconciliation.
• Accounts Payable: Suppliers, invoices, expenses, liabilities, Vendor Reconciliation, and AP Aging.
• General Ledger & Reconciliation: Integrity of balances and transactions, journal entries, accruals, prepayments, and periodic reconciliations of key accounts.
• Payroll Accounting: Accounting treatment of salaries, wages, and related liabilities, including reconciliation and cost allocation.
• Fixed Assets: Fixed Asset Register, asset additions, disposals, depreciation, and reconciliation.
• Project & Cost Accounting: Allocation of revenues and costs to projects, cost centers, and accounts, and analysis of project profitability.

Qualifications and Experience

• 5-10 years of relevant experience in accounting.
• Demonstrated ability to manage and oversee comprehensive accounting operations.
• Strong understanding of accounting policies, procedures, and standards.
• Proficiency in financial reporting and analysis.
• Experience with internal controls and audit coordination.

Working Relationships

The role requires continuous coordination with the Finance Manager/CFO, Treasury, HR, Operations, Projects, Procurement, ERP/IT, Internal Audit, External Auditors, and relevant government and tax authorities.

Key Performance Indicators

• Month-End Closing Timeliness and Financial Reporting Timeliness.
• Account Reconciliation Completion & Accuracy and reduction of Unreconciled Balances.
• Journal Entry Accuracy and Audit Adjustments.
• Accuracy in AR/AP Reconciliation, Payroll Accounting, and Project Cost Allocation.
• Overall Financial Closing Accuracy & Timeliness, measured by the accuracy and timeliness of closing, completion of reconciliations, reduction of unexplained balances and accounting adjustments, and the accuracy of financial statements and reports.