Financial Director

Job Description Card

Job Summary:

Job Title: Finance Director

Department: Top Management 

Section: Finance

Line Manager: Group CEO

Subordinate(s): Chief Accountant, Financial Planning & Budgeting Manager, Treasury & Bank Accountant, Inventory Control Supervisor

Internal Communication: Commercial, Shared Services, Legal Affairs, Strategy and Performance, Internal Audit Committee

External Communication: Regulatory Bodies, Bank and Financial Institutions

Job Purpose:

Direct and manage the finance division to maximize cash flow and profit, ensuring cost control, accurate billing, revenue growth, and statutory compliance while monitoring financial performance against business plans, budgets, and forecasts.

Job Specifications:

Required Educational Level:

• Master's degree in Finance, Accountant

Required Experience:

• 15 - 20 Years of experience in finance, accounting 

Required skills, Abilities, and knowledge:

Leadership and people management skills - Expert

Strategic thinking and analytical skills - Expert

Financial planning, analysis, budgeting, and reporting principle - Expert 

Financial regulation, accounting standards, and compliance requirements - Expert

Financial software and systems (ERP/SAP) - Expert

Communication, negotiation, and interpersonal skills - Expert 

Problem-solving and decision-making skills - Expert

Risk management skills - Expert

Required Language(s):

Arabic - Fluent 

English - Fluent 

Duties & Responsibilities:

Planning Duties:

• Develop and implement financial strategies and plans to support the company’s strategic objectives.
• Review the financial budget for all company departments and prepare the final draft budget, ensure compliance with the company strategies and policies.
• Lead the annual budgeting process, including forecasting revenues and expenses, and preparing detailed financial plans.

Operations Duties:

• Ensure the implementation and maintenance of policies, procedures and controls within the financial division.
• Manage cash flow to ensure the company has adequate liquidity to meet operational needs and investment opportunities
• Optimize working capital and manage relationships with financial institutions
• Create, coordinate, and evaluate financial programs and supporting information systems of the company to include budgeting, cash flow and conservation of assets.
• Oversee the approval and processing of revenues, expenditures, and position control documents, department budgets, salary updates, ledger, and account maintenance.
• Manage the process of the preparation of financial statements preparation, financial reports, special analyses, and information reports.
• Develop and ensure implementation of the finance, accounting, billing, and auditing procedures.
• Maximize credit received from suppliers and assure credit extended to customers is minimized.
• Ensure that collections and disbursements are in line with credit terms negotiated with customers and suppliers.
• Manage the process of negotiation, cash management, loan management, insurance management and credit facilities with banks.
• Review and approve implementation of plans for new development /investments from financial perspective

Monitoring Duties:

• Monitor financial performance against budgets and forecasts, analyzing variances and recommending corrective actions.
• Track, analyze and control costs to improve profitability and operational efficiency.
• Monitor all external financial reports, returns, and statements to ensure they are complete, accurate, and comply with local regulations and other applicable requirements.
• Monitor the updating and maintenance of all financial data to ensure the integrity and security of financial systems.

Human Recourses Duties:

• Provide leadership to the finance team, fostering a culture of collaboration, accountability, and continuous improvement.
• Collaborate with HR to recruit, train, and retain top talent in the finance division, ensuring the team has the skills and expertise needed to meet objectives.
• Conduct regular performance evaluations, providing feedback, setting goals, and identifying opportunities for professional development within the finance team.

Improvement Duties: 

• Drive continuous improvement initiatives across all finance functions, identifying opportunities to enhance efficiency, customer satisfaction, and profitability.
• Identify opportunities to optimize working capital, optimize liquidity management, minimize bad debt,
• Stay updated on financial best practices and emerging technologies, integrating them into the financial division’s operations to boost performance and competitiveness.

Reporting Duties:

• Manage the preparation of tax returns and ensure compliance with relevant tax laws and regulations.
• Review and prepare monthly, quarterly and yearly financial reports indicating the financial situation versus budget.
• Prepare and present accurate financial reports, including balance sheets, income statements, and cash flow statements, to senior management and stakeholders.