Manager Finance (SPV/Projects)📣 Job Ad

About the Role: Manager - Finance (SPV/Projects)

Aljomaih Energy & Water is seeking a Manager - Finance (SPV/Projects) to join its team in Riyadh, Riyadh Province. This full-time role is central to ensuring timely and accurate financial information for management by establishing robust accounting and control systems. The Manager will analyze accounting data, prepare financial reports, and facilitate the distribution of financial insights to senior management to support strategic decision-making. This position is critical for implementing best accounting control practices and adhering to global accounting standards across the organization, contributing to strategic growth plans and portfolio health assessment.

Core Financial Operations and Controls

The Manager - Finance (SPV/Projects) will oversee and coordinate essential financial accounting processes and ensure robust internal controls. Key responsibilities include:

• Managing monthly, quarterly, and annual financial closing processes, including booking revenues, development costs, and completing all monthly reconciliations.
• Ensuring compliance with accounting standards and regulations, and maintaining accurate financial records.
• Implementing operational best practices and consistently updating accounting procedures and purchasing guidelines.
• Strengthening financial controls to safeguard company assets and prevent fraud.
• Establishing and maintaining effective relationships across departments for timely issue resolution and support.
• Coordinating external and internal audits, liaising with auditors, and ensuring timely resolution of audit issues.
• Maintaining internal controls by preparing and recommending policies and procedures, and substantiating financial transactions.
• Developing and optimizing financial accounting and reporting systems, and participating in financial transformation initiatives.

Financial Planning, Forecasting, and Analysis

This role involves significant responsibility for financial planning, forecasting, and detailed financial modeling to support strategic decision-making:

• Coordinating the preparation of annual budgets, periodic forecasts, and long-term financial projections, ensuring alignment with operational plans and business objectives.
• Operating and maintaining the company’s integrated financial model, incorporating various operating assumptions, revenue projections, O&M costs, capital expenditure, working capital, debt service, financing costs, taxes, and cash flows.
• Updating financial forecasts under different operating and commercial scenarios, including sensitivity and stress testing of key assumptions and their impact on profitability, liquidity, and cash generation.
• Collaborating with Operations, Commercial, Technical, and other functions to develop and validate key financial and operational assumptions.
• Monitoring actual performance against budget and forecast, analyzing variances, identifying key drivers, and recommending corrective actions.
• Preparing forward-looking cash flow forecasts and liquidity projections, assessing funding requirements, debt service obligations, and cash availability for distributions.
• Providing financial analysis to management for business decisions, such as major maintenance and capital expenditure initiatives.

Lender Relations and Regulatory Compliance

The role includes managing relationships with lenders and ensuring adherence to all financial and tax compliance requirements:

• Calculating and monitoring key financial covenants and project finance ratios (DSCR, LLCR, leverage) in accordance with financing documents.
• Maintaining forward-looking covenant forecasts to identify potential headroom constraints or breaches early.
• Coordinating the preparation and submission of periodic financial information, compliance certificates, and lender reports.
• Preparing debt service requirements, interest payments, principal repayments, and DSRA reserve account requirements.
• Ensuring accurate and timely reporting of covenant calculations and financial information to management, the Board, Shareholders, and Lenders.
• Collaborating with Tax/Zakat teams on ongoing tax compliances.
• Ensuring all compliance requirements related to VAT, Corporate tax, and Zakat are managed, with proactive actions integrated into accounting and control systems.

Qualifications and Experience

Candidates for this position should possess a strong background in finance and accounting, coupled with relevant experience:

• A minimum of 7 years of experience in finance, with a focus on SPV or project finance.
• Demonstrated expertise in financial accounting, reporting, and control systems.
• Proficiency in financial planning, forecasting, and complex financial modeling.
• Experience with lender relations, covenant management, and regulatory compliance (including Zakat and tax).
• Ability to coach and develop accounting staff.

About Aljomaih Energy & Water

Aljomaih Energy & Water (AEW), headquartered in Saudi Arabia, is a rapidly expanding investor, lead developer, and operator of utility and infrastructure projects. AEW operates across various geographical markets, including KSA, GCC, Asia, and North Africa. Established in 2007 as a subsidiary of Al Jomaih Holding Company, a leading Saudi conglomerate with over 80 years of legacy, AEW has investments in 6 GW of Conventional and Solar power plants and approximately 700,000 m3/day of water capacity. The company's mission focuses on addressing new technologies, solving complex problems, and leveraging expertise to unlock opportunities within the Power, Renewables, and Water Sectors, while driving impact for its stakeholders across the value chain.