Executive Director – Finance

Job Specification

• Job Type: Full-Time
• Number of Vacancies: 1
• Job Type: Permanent
• Industry: Logistics

Job Summary

• Functional Area: Finance
• Location: Jeddah, Saudi Arabia
• Job Role: Executive Director – Finance
• Reporting line: CFO
• Preferred nationality: KSA nationals only
• Experience: 15 years minimum

Our client is a provider of world-class cargo management & logistics services globally.  They are seeking a senior finance professional to join them as an Executive Director.

Job Purpose

To lead and direct the Finance department to ensure that all business operations are monitored and controlled against budget, and company’s operations and investments are optimally financed, all financial transactions are treated appropriately and accurate financial information is available to support management decision-making.

Key Responsibilities

Strategy

• Assist the CFO in the formulation and implementation of the company’s overall finance strategies to enable the achievement of the company’s vision, mission, and business objectives.
• Develop and direct the implementation of the finance department’s strategy in alignment with the company’s overall strategy in order to achieve the department’s short, medium, and long term objectives while ensuring the effective cascading of the strategy into departmental business plans and ease of horizontal integration with other interfacing division strategies.

Budgets and Financial Plans

• Consolidate departmental budgets, recommend the finance department’s budget, monitor financial performance versus the budget so that the CEO& CFO is aware of anticipated costs and revenues, areas of unsatisfactory performance are identified, and potential areas of cost reduction or performance improvement are capitalized upon.

People Management and Organization Structure

• Identify and recommend any necessary changes that need to be made to the finance department’s structure due to new/ changing business/ market needs in a manner that ensures that resources are optimally utilized and communication takes place in an efficient manner.
• To lead, motivate and inspire staff within services for which responsible to ensure the delivery of service.

Budget Planning

• Review and submit the company’s annual budget for final approval and ensure the continuous follow-up and reporting of its execution.
• Direct the tracking of financial performance against budget on a periodical basis and provide reports to management and each department head with financial results and variance analysis reports for revenues and costs to ensure critical issues are identified and appropriate recommendations are carried out.
• Provide advice to the Senior Management concerning the financial implications to business strategies and plans, so that funds are available to support the achievement of strategic objectives and cash flows are optimized.

Financial Management

• Direct the implementation of treasury management activities in order to ensure effective cash management that meets the needs of the business.
• Monitor the timely and accurate analysis of costs in order to recommend cost reduction and cost control measures in line with business objectives.
• Monitor and ensure all internal controls are implemented in order to comply with all company policies, and procedures.
• Accurate and timely consolidation and production of statutory financial reports, statements and transactions.
• Ensure sufficient cash available to fund ongoing operations and proper utilization of funds to reduce interest burden.
• Ensure adequacy of support and assistance provided to internal and external audit teams to facilitate timely completion of the audits.

Financial Accounting

• Direct the execution of all accounting activities to ensure that all financial transactions are treated in an appropriate manner according to internal and statutory controls and that both management and statutory financial reports and information are made available in an accurate and timely manner.
• Ensure the timely and accurate cost allocation of all transactions / payments to the respective departments, as well as the update and communication of all payments, in order to support the accurate and efficient cost control.
• Ensure all invoices payables are in compliance with the processes and procedures of the company.
• Review the contracts and agreements with vendors and third parties so as to protect the interests of the company and ensure that all invoices and payments comply with the relevant terms and conditions.

Change Management and Continuous Improvement

• Manage change and ensure that the necessary change management action plans are being properly implemented by the subordinates to cater for changing dynamics (whether internal or external) and assist employees in any transformation needed.
• Lead and direct the continuous improvement of systems, processes, and practices within the finance department while taking into account international best practice, changes in international standards, and any changes in the business environment which demand proactive action plans.
• Review, approve, and direct amendments to the finance department’s functional policies and procedures to ensure consistency of practice and compliance with government/ sector regulations.
• Demonstrate vision and values in work and practice, motivate and work with all members of the company to create a shared culture and positive climate.

Reports

• Ensure that all reports of the finance department are prepared timely and accurately and meet the company’s requirements, policies, and standards.
• Prepare and review certain management reports related to the finance department, and update the CEO on all related activities in order to support the CEO’s decision making process.

Health, Safety & Environment

• Ensure compliance to all relevant health, safety and environmental management policies, procedures and controls across the finance department in order to guarantee employee safety, legislative compliance, delivery of high quality service and a responsible environmental attitude.

Requirements

• Master’s degree in Finance, Accounting or related.
• Certification such as Certified Public Accountant or similar.
• 15 years experience in the Financial Management field.
• 10 years experience in management of a finance function in a large organization.