Chief Financial Officer

Summary

The Chief Financial Officer will lead the financial and accounting activities of the company, ensuring compliance with IFRS standards and local regulations. This role involves preparing financial statements and reports, managing cash flow forecasts, and applying Sharia-compliant funding solutions to support liquidity sustainability. The CFO participates in strategic planning and financial assumptions review, supervises contracts and daily financial operations (purchasing, collections, payments), and enhances the ERP system and financial policies to promote compliance and governance. This role provides crucial support to the executive management and board of directors.

Key Responsibilities

• Prepare periodic and annual financial statements according to international standards and local legislation.
• Develop and update monthly cash flow forecasts, determining cash requirements for projects and operations.
• Analyze monthly financial performance and deliver reports with recommendations to facilitate decision-making.
• Coordinate with external auditors for timely issuance of audited financial statements as required.
• Oversee collection and payment activities to ensure strong cash flow.
• Create, review, and continuously update financial management policies and procedures to incorporate ongoing changes and strengthen governance.
• Participate in implementing the company’s ERP accounting system to meet financial reporting needs.
• Prepare studies and working papers on new accounting transactions per international standards for accounting team use.
• Review and approve purchase orders and payment voucher requests within authorized limits.
• Contribute to reviewing financial aspects of company contracts and provide recommendations.
• Lead the finance team, enhancing internal capabilities and effectively distributing tasks.
• Attend weekly management meetings, offering necessary financial insights.
• Prepare annual budgets within deadlines and conduct monthly comparisons with actual performance, analyzing variances and suggesting improvements.
• Develop cash flow projections for development projects and assist in securing alternative financing options to maintain liquidity.
• Monitor off-plan sales projects, reporting monthly collection and completion progress, overseeing client collections, managing guarantee account disbursement requests, and reviewing contractor statements.
• Submit developer tax reports, manage refund requests, file tax and Zakat declarations, and ensure company compliance.

Required Skills and Competencies

• Deep knowledge of IFRS and Saudi regulations (CMA, ZATCA, WAFI).
• Advanced financial analysis, modeling, reporting, and strategic planning skills.
• Proficiency in ERP systems and advanced Microsoft Excel functionality.
• Strong leadership and management skills with effective stakeholder communication.
• Critical thinking, problem-solving, and decision-making capabilities.
• Familiarity with AI models to enhance business development and improve financial reporting efficiency.

Experience and Qualifications

• University degree in Accounting or Finance; professional certifications (CPA, CMA, ACCA) preferred.
• Minimum of 8 years of practical accounting and finance experience, with at least 3 years in a managerial role within the real estate development sector.
• Comprehensive understanding of Saudi tax, Zakat regulations, and off-plan sales projects.
• Proficiency in ERP software and Microsoft Office applications.
• Experience in preparing, analyzing, and recommending budgets and cash flow budgets.
• Ability to lead and develop team skills, enhancing productivity and report quality.