Financial Planning and Budgeting Lead, Kapsarc, Riyadh, KSA

Position Summary

To plan, manage and control KAPSARC’s accounting related processes, including implementation of accounting policies and financial systems, leading monthly consolidation activities and supervising the postings on GL and reconciliation activities to ensure timely completion of all activities, whilst ensuring accuracy and alignment with accounting principles and frameworks.

 

Major Accountabilities

Monitor the account payables and receivables related activities, in order to ensure that the payable and receivable balances are regularly reviewed and cleared before year end.
Verify and review the reconciliation of transactions and bank statements, in order to ensure that all payments and accounts are matched and reconciled regularly and to ensure an updated general ledger.
Verify and review the transaction flows and set-up enabled for posting transactions to KAPSARC’s general ledger and ensure that financial accounting transactions are accurately and properly reflected in the accounting books in accordance with accounting procedures, regulatory requirements, and any other relevant international accounting standards and practices.
Carry out accurate endorsing/ approvals of invoice payment authorizations, payment vouchers, cheques, bank instructions and other related financial documentation, in order to facilitate timely processing of payments as per as KAPSARC financial and accounting policies.
Monitor and ensure the timely execution of all the closing activities for KAPSARC, on a monthly basis in line with accounting policies and procedures to ensure transactions are recorded accurately and reflect the financial standing.
Collaborate with the finance team in debottlenecking the month end processes in order to achieve error free and timely monthly closing.
Assist in the completion of audits for KAPSARC by ensuring a thorough review of financials and reporting of any discrepancies to ensure timely completion of audits and implementation of audit results in collaboration with relevant stakeholders.
Design and implement best practice accounting systems and processes including closing check lists and closing processes, chart of accounts, time sheets, financial policy manual, monthly flash reporting and analysis etc., to ensure seamless management of financial processes.
Remain abreast with the latest IFRS and other laws and regulations, in order to ensure that work output is in conformity with accepted practices.
Develop detailed financial reports for key stakeholders including budget, key metrics, forecast, etc., in collaboration with other relevant teams, in order to ensure that financial reports are developed in a timely, efficient, and accurate manner.
Review and ensure the proper generation of monthly, quarterly, and annual consolidated financial statements for KAPSARC, in order to ensure correct, consistent and timely submission to relevant stakeholders/ entities.
Prepare presentations for various stakeholders including senior management, Board Audit Committees, and Board of Directors, to provide an overview of the financial health of KAPSARC.




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