Chief Financial Officer

Job Description

A leading retail and distribution group in the MENA region based in Riyadh Saudi Arabia specialized in the fitness equipments sports apparel and footwear is looking for a Chief Financial Officer to join our growing team to take a leading strategic role at the executive team level in terms of growth of the business and sound management providing guidance on corporate and financial strategy.The CFO is responsible for overseeing all financial budgeting and planning activities within company, ensuring the provision of efficient financial transactional services (General Ledger, Accounts Payables & Receivables, Fixed Assets), monitor company-wide financial reporting and developing policies and financial process control. The CFO is also responsible for overseeing the activities of the IT Division to ensure the provision of effective IT services in line with company strategic and business requirementsReporting to Chef Executive OfficerSupervision of?Finance & Treasury Manager?Management Accounting Manager?IT Director?Investment Relations AnalystADMINISTRATIVE RESPONSIBILITIES

1. Participate in the development of company strategic direction (vision, mission, strategic objectives and goals) and ensure that all Division employees are working towards the achievement of the strategy.
2. Develop the Divisions? annual business plan and budget in coordination with concerned direct subordinates, including all Financial and People requirements, and ensure the proper utilization of these resources towards the achievement of the Division?s objectives and goals.
3. Review the operating results of the Divisions, compare them to established objectives and goals and follow up to ensure appropriate measures are taken to correct unsatisfactory results.
4. Direct and coach the employees, and enhance the Divisions? performance while ensuring that employees are receiving the required mentoring and training.
5. Recommend salary adjustments, rewards and promotions to the CEO based on Division and employees? performance.
6. Develop periodic reports outlining the Divisions? performance over the period and escalate them to the CEO.
7. Develop and maintain the Divisions? guidelines, policies and procedures and ensure its implementation across all departments while ensuring compliance with company strategic direction (strategic goals and objectives ).
8. Recommend and implement the management of change through continuous improvement of divisional / departmental systems, processes and practices taking into account ?international best practice?, changes in international standards and changes in the business environment which demand proactive action plans.

1. Direct and oversee all treasury related activities across company, including cash management, liquidity management, loan management and insurance management etc.
2. Guide the development and implementation of an effective and efficient Financial Planning and Budgeting framework. Direct and oversee financial planning assistance to company and ensure accurate forecasting of financial performance.
3. Direct and oversee the design and preparation of the budget forms, models and templates to be used by subordinates in the budgeting process to enhance the budget techniques and procedures.
4. Lead the preparation and consolidation of company SBU, Division and department budgets and the development of the combined annual master budget, including capital expenditure (CAPEX), operating expenditure (OPEX), and manpower planning budgets, and present it to the CEO and Board of Directors for review and approval.
5. Lead the development and implementation of an effective and efficient Financial and Management Reporting framework.
6. Lead the establishment of relationships with domestic and international financial institutions and banks in order to negotiate advantageous banking and credit facilities.
7. Ensure the efficient management and monitoring of company cash and liquidity position, and oversee the preparation of cash flow forecasts to optimize company liquidity position, avoid cash squeezes and shortages and ensure that company has sufficient cash flow to satisfy both maturing short-term debt and upcoming operational expenses.
8. Ensure periodic review of General Ledger entries to ensure accuracy and compliance with the established rules and accounting principles, and that all entries are supported with valid documentation.
9. Oversee financial accounting transactions and monthly closing for General Ledger, Accounts Receivable & Accounts Payable across Company.
10. Monitor the reconciliation for all accounts; banks, customers, and vendors and instruct on action to be taken for unresolved variances in reconciliation.
11. Ensure periodic financial closings are carried out consistently, within the agreed timeframes and accuracy, in coordination with all company SBUs, Divisions and Departments.
12. Ensure that all financial documents (invoices, payment vouchers, archiving and filing) are properly managed and controlled.
13. Ensure that invoices are verified and processed efficiently and accurately at all times, and that payments to contractors and suppliers are processed accordingly.
14. Oversee the establishment of clear and efficient processes for the management of all petty cash within company, in coordination with concerned SBUs, Divisions and Departments.
15. Ensure the fixed asset register is managed and maintained properly, in coordination with concerned SBUs, Divisions and Departments.
16. Oversee the efficient processing of employee payroll and benefits payments, upon receiving input for staff related transactions (such as payroll, advances, allowances etc.) from the HR Department.
17. Review and monitor financial policies and changes in SOCPA/ IFRS accounting standards, and ensure adherence at all times.
18. Oversee the preparation of statutory / regulatory reports for external stakeholders, and the preparation of management reports for the CEO & BoD.
19. Liaise with internal and external auditors and ensure that they are provided with relevant financial information in order to adequately complete the audit.
20. Ensure that proper insurance coverage for all company assets is in place to safeguard company assets and resources and that insurance claims are being processed effectively and efficiently.
21. Directs the relations and communications between company and its shareholder and the investment community to ensure that relevant information is being properly communicated and inquiries are being handled in a timely fashion.
22. Oversee the activities of the IT function and ensure that it is operating effectively and meeting the requirements of the SBUs, Divisions and Departments.

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