Commercial Financial Controller

Job Overview

The Commercial Financial Controller plays a vital role in overseeing and enhancing the financial planning, budgeting, cost management, and reporting activities within the factory environment. This position ensures precise cost allocation, efficient resource utilization, and strict compliance with accounting standards, all to boost profitability and heighten operational effectiveness.

Key Responsibilities

• Manage budgets, financial accounts, and operations throughout production units to satisfy internal reporting standards and meet external regulatory and statutory requirements.
• Coordinate the preparation of both annual and long-term operational and capital budgets, ensuring they align with production schedules and optimize resources.
• Supervise product costing and bills of materials, collaborate with production and procurement teams to evaluate cost variances, and improve cost accuracy.
• Oversee the correct valuation and accounting of raw materials, work-in-progress, and finished goods inventories.
• Administer cost center allocations, overhead costs distribution, and internal transfer pricing procedures.
• Maintain fixed asset records, including asset tagging, depreciation calculation, and capital expenditure tracking related to factory operations.
• Ensure appropriate classification of capital versus operational expenses and apply suitable depreciation methods based on asset type and usage.
• Participate in financial forecasting by analyzing production capacity, demand tendencies, and material costs.
• Conduct thorough profitability analyses for product lines, departments, or processes and suggest actionable improvements to margins.
• Perform variance analyses between budget estimates and actual figures to evaluate performance and identify trends.
• Monitor production cost efficiency against established budgets and key performance indicators, highlight deviations, and recommend corrective actions.
• Identify cost-saving opportunities across materials, labor, and overhead via collaboration with production and procurement functions.
• Prepare and review periodic financial and management reports covering factory operations such as cost reports, inventory movements, and production efficiency metrics.
• Ensure compliance with accounting standards and internal control policies.
• Lead year-end closing activities including final account preparation and variance reporting.
• Recruit, evaluate, and cultivate high performing staff while managing and guiding low performers appropriately, ensuring fairness and adherence to company policies.
• Maintain delegation of authority matrix in line with company standards.
• Take full accountability for the financial operations under their domain, including delivering timely, quality results within cost parameters.
• Anticipate and proactively address potential issues, making timely and effective decisions.
• Translate corporate objectives into actionable business plans, monitor execution, and adjust strategies for optimal performance.
• Prepare regular progress reports and continuously seek organizational development aligned with current and future needs.
• Implement and promote well-documented systems, policies, procedures, and pursue automation opportunities.
• Champion usage of IT solutions relevant to business and job functions to foster a culture of automation.
• Ensure quality is maintained as a primary competitive advantage.
• Adapt to advancements in techniques, technology, management structures, and business models.
• Maintain a safe, secure, and compliant work environment according to standards and regulations.

Qualifications and Experience

• Bachelor's degree in Accounting, Finance, or related field.
• 6 to 10 years of professional experience in finance, accounting, budgeting, and cost control.

Company Profile

Alfanar is a Saudi-based international company primarily engaged in manufacturing and trading various electrical products across low, medium, and high voltage categories. The portfolio also includes conventional and renewable energy solutions, oil and gas, water treatment, infrastructure, technical services, and digital solutions. The manufacturing hub is located in Riyadh's Medinet alfanar Alsinaiya, a 700,000 square-meter complex with cutting-edge manufacturing facilities and laboratories operated by skilled professionals. Alfanar's success stems from its commitment to high-quality standards and continuous employee development within a supportive and empowering workplace culture.