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Finance Director

Reference:
VAC-900
Sector:
Accountancy, Finance Director
Salary:
SAR55,000 Per Month
Benefits:
Family Benefits
Town/City:
Riyadh, Saudi Arabia
Contract Type:
Permanent

We are searching for an experienced Finance Director from the food industry. Only candidates from this industry will be shortlisted.

Working closely with the MD and the shareholders to guide the business to a successful sale in 2-3 years’ time, the FD will contribute to the ongoing development of strategy, including potential acquisitions, as well as leading relationships with financial institutions and service providers.

The company is owned by private equity and is going through significant improvements in systems and processes throughout the business to enhance decision making and to be ready for due diligence.

The role will report to directly to the business General Manager and indirectly to the Private Equity company.

Please note that our client works 6 days a week (Sat to Thursday).

With business success and growth comes potential equity participation in the short term.

Responsibilities:

  • Plans, develops and monitors the Finance & Accounting strategy
  • Prepares, reviews and owns overseeing the annual budget
  • Manages expenditures
  • Reviews and approves the recommended budget planned / existing projects and priorities.
  • Reviews and approves the Finance & Accounting policies, procedures, standards and guidelines
  • Acts as key advisor and consultant for the Finance & Accounting department (team of 14)
  • Implements the Microsoft Dynamics 365 ERP system
  • Conducts monthly progress meetings with the top management and all department heads to discuss results progress vs. budget
  • Remains vigilant for opportunities to improve the business in the context of a Continuous Improvement mind set.
  • Oversees the training and development of Finance Managers to develop their skills
  • Manages the preparation of monthly, quarterly and year-end financial reports
  • Coordinates annual audit with internal and external auditors
  • Supervises the periodic reviews of the chart of accounts.
  • Plans and directs activities related to the development, consolidation and implementation of corporate and business departments annual budgets for presentation to the executive committee. 
  • Cash flow management
  • Keeps top management informed about the availability of funds currency rates and fluctuation in currency, etc.
  • Advises top management on capital structure options for the company and business departments in order to achieve the lowest cost of capital.
  • Maintains relationships with banks
  • Ensures local and international tax compliance including Customs duties, Withholding Taxes and preparation for the implementation of VAT in 2018.
  • Maintains awareness and knowledge of contemporary Finance & Accounting theory and methods through attending international conferences

Experience:

  • 15+ years of PQE experience including at least 3 in the role of leading a finance function. 
  • Experience of the food distribution business
  • Preference is for Arabic speakers
  • Highly commercial with regard to optimising sales, minimizing costs and balancing risks
  • Demonstrable success building and developing finance functions
  • Successful implementation of an ERP system (Microsoft Dynamics desirable)
  • Successful track record in M&A and prior experience of Private Equity ownership desirable
  • Educated to degree standard
  • Accountancy qualification from internationally recognised body
  • Previous exposure to KSA preferable but not mandatory

Critical Competencies:

  • Strategic thinking to see the big picture and position the business for future sale
  • Commercial awareness to understand the broader industry issues and their relation to the strategy and margins
  • Presentation skills to command respect and support at Board Level
  • Leadership and influencing skills to gain support of support staff and key stakeholders.

We apologise that we cannot reply to everybody however we do guarantee that we look at every application. If you haven’t had a response from us within 7 days, you can assume you haven’t been successful on this occasion. (LV)