Assistant Finance Manager

Role Overview

Assistant Finance Manager at Matar Al Baqmi Holding Company. This position oversees financial accounting, reporting, and strategic initiatives within a business division.

Role Purpose

Lead financial operations, accounting processes, and reporting for the division while supporting senior management decision-making through accurate financial analysis, risk management, and process improvement.

Key Responsibilities

Financial Accounting & Reporting

• Oversee all aspects of financial accounting processes and transactions under your responsibility.
• Ensure timely and accurate month-end and year-end closing processes.
• Maintain proper general ledger.
• Prepare accurate and timely financial reports for the business unit within the division.
• Prepare and analyze financial statements, variance analysis, and other financial reports for senior management and stakeholders.
• Communicate financial information effectively to stakeholders, including senior management.

Transaction Management & Controls

• Conduct regular review and analysis of transactions to detect incorrect or unusual recordings.
• Ensure transactions are recorded accurately with proper validation.
• Make month-end provisions and accruals for services or products received but not invoiced.
• Ensure the principle of matching cost with revenue.
• Ensure 3-way validation of invoices prior to booking and payment processing.
• Establish and maintain internal control procedures to safeguard company assets and ensure compliance with accounting standards such as IFRS and GAAP, and applicable regulations.

Financial Analysis & Planning

• Monitor and analyze financial performance against budget and forecast, identifying areas for improvement.
• Implement corrective actions as needed.
• Participate in the budgeting process for the division, working closely with FPM and department heads.
• Evaluate investment opportunities and capital expenditure projects within the division.
• Conduct cost-benefit analysis and provide recommendations to senior management.

Risk Management & Compliance

• Identify and assess financial risks faced by the division, such as currency risk, interest rate risk, and credit risk.
• Implement strategies to mitigate these risks.
• Develop and implement financial policies and procedures and ensure compliance.
• Prepare and report ZAKAT, Tax, and monthly VAT in Saudi Arabia.

Strategic Support & Optimization

• Develop strategic relationships with all stakeholders.
• Provide insights to senior management to support strategic decision-making.
• Identify and drive cost-saving initiatives, including finance charges.
• Contribute to the development of the group's financial strategy and objectives.
• Provide recommendations to improve financial performance and optimize resource allocation.

Systems & Process Improvement

• Oversee the implementation and maintenance of financial systems and software to streamline processes and enhance efficiency.
• Drive process improvements and automation initiatives to enhance efficiency and effectiveness.

Stakeholder & Audit Coordination

• Collaborate with cross-functional teams to support business initiatives and strategic projects, providing financial expertise and guidance.
• Coordinate with external and internal auditors to facilitate the audit process and ensure timely completion of audit deliverables.

Team Leadership

• Lead and manage the finance team within the division.
• Provide guidance, training, and support to ensure the team's effectiveness and professional development.

Qualifications & Experience

• Professional qualification such as ACA, CPA, ACCA, or CIMA.
• Minimum 10 years of progressive experience in accounting and finance roles.
• At least 5 years in a managerial or leadership position.
• Preferable experience in agriculture, poultry farm business, animal feed manufacturing, or related sectors.
• Knowledge of preparing and reporting ZAKAT, Tax, and monthly VAT in Saudi Arabia.

Skills & Competencies

• Thorough knowledge of accounting principles, practices, and regulations, with experience in financial reporting, auditing, and internal controls.
• Strong analytical skills and attention to detail, with the ability to interpret complex financial data and make informed decisions.
• Advanced proficiency in Excel, Word, and PowerPoint.
• Experience with ERP systems preferred.
• Excellent communication and interpersonal skills, with the ability to effectively interact with stakeholders at all levels of the organization.
• Proven leadership abilities, with a track record of building and motivating high-performing teams.
• Ability to thrive in a fast-paced, dynamic environment and manage multiple priorities effectively.
• Strong problem-solving skills and a proactive, results-oriented mindset.
• High level of integrity, ethics, and professionalism.