Reconciliation Center of Excellence Manager📣 Job Ad

About the Role

SAB is seeking a skilled and experienced Reconciliation Center of Excellence Manager to join its Finance department in Riyadh, Saudi Arabia. This full-time position is essential for ensuring the accuracy, timeliness, and integrity of all financial reconciliations across the company. The role involves establishing robust reconciliation policies and processes, overseeing daily operations, and driving continuous improvement initiatives. This is an opportunity to lead a critical finance function, contributing to the company's financial health and compliance, and ensuring alignment with regulatory expectations, including those from SAMA.

Key Responsibilities

• Supervise the overall reconciliation function, ensuring accuracy and timeliness across all company accounts.
• Establish and maintain comprehensive reconciliation policies, processes, and escalation standards.
• Oversee daily, weekly, and monthly reconciliations for high-impact company accounts.
• Support the review and approval of reconciliations, and monitor aging items to ensure prompt issue resolution.
• Ensure that Service Level Agreements (SLAs) and quality targets for reconciliations are consistently achieved.
• Coordinate with Finance, Risk, and Audit teams for control reviews and exception reporting.
• Introduce process improvements and automation initiatives, leveraging systems such as SAP or similar platforms.
• Prepare management reports and dashboards to track and communicate reconciliation performance.
• Ensure alignment with SAMA control and financial reporting expectations.
• Contribute to process improvement and automation activities within the reconciliation function.
• Maintain proper documentation and audit trails for all reconciliation activities.
• Track key performance indicators including review accuracy rate (%), exception closure turnaround time, and the number of recurring discrepancies identified.
• Monitor SLA adherence for all reviewed reconciliations.
• Ensure that bank procedures on General Ledger (GL) controls are appropriately aligned with Group best practices.
• Perform quality checks on GL data to ensure the accuracy and consistency of certification by the line of business.
• Manage and monitor daily HUB and GL exceptions for escalation and resolution, providing technical assistance and guidance to other departments to ensure accuracy in the process.
• Manage the maintenance of GL, Interest, HUB, and ALF (Automated Ledger Feed) data.
• Supervise monthly GL accounts certification closing activities in line with internally developed requirements.
• Monitor and maintain the GL ownership tree with approval authorities as per SAB standards.
• Liaise with internal and external auditors to ensure accounts are prepared in a legally compliant manner.
• Coordinate the successful implementation of auditors' recommendations and report progress to management.
• Manage the department to review and identify Risk Control Analysis (RCA) to ensure proper coverage of all critical activities in line with internal control compliance.
• Generate requisite reports (weekly, monthly, ad-hoc) and ensure timely submission to facilitate decision-making.
• Generate reports on discrepancies and anomalies highlighted in the accounting cycle through ledger maintenance.
• Participate in developing plans, systems, and internal processes as required to govern all aspects of the general ledger function per SAB's established policies.
• Undertake other ad-hoc tasks to strengthen the internal control of the finance department.

Qualifications and Requirements

• Bachelor's degree in Accounting, Finance, or Business Administration.
• 3-5 years of experience in accounting, reconciliation, or financial control.
• A minimum of 2 years in a supervisory or managerial reconciliation role.
• Prior working experience on Oracle, Excel, or custom reconciliation software.
• Solid understanding of reconciliation principles and financial controls.
• Familiarity with IFRS/SOCPA and regulatory compliance in Saudi Arabia.
• Familiarity with banking products and services.
• Holding a professional certification in Accountancy is highly preferable.

Required Skills

• Reconciliation
• Financial Controls
• SAP
• Oracle
• Excel
• IFRS
• SOCPA
• Regulatory Compliance
• Banking Products and Services

Work Environment

This is a full-time position based in Riyadh, Saudi Arabia.