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Finance Manager Job Description
Finance Manager Job Description Job Title: Finance Manager Function: Financial Department: Finance Job Code: F-L4 Reports To: CEO Job Family: Finance Job Location: Riyadh Prepared / Revised on: Feb 2011 Direct reports: 5 Total number of staff supervised: 5 Finances managed: SR 120 Million + Job Purpose To plan, direct, and provide overall leadership to AES Finance department in managing long range strategies, financial, budgetary controls and management accounting, so as to ensure that AES is operating according to internationally accepted financial standards and within the approved strategies, plans, regulations, and budgets. Essential Duties and Responsibilities Duties include the following, measurable in terms of time, cost, quality or quantity.. Other duties may be assigned. Finance Strategy Formulates Finance strategy, vision, mission and leads the decision making process to ensure that AES delivers on its short, medium and long term objectives Policies, Processes and Procedures Contributes to AES’s policies and develops business line policies covering all areas to ensure all relevant procedural / legislative requirements are fulfilled Job Specific Accountabilities Financial Planning & Control Directs the development of the five year financial plan to meet the medium and long term requirements of AES Ensures adequate capital structure and recommends a high-level capital plan which defines AES’s anticipated major capital expenditure in order to ensure that AES has the financial capability to meet its strategic objectives Leads and directs the continuous improvement of financial systems and practices taking into account ‘best practice’, dynamic changes in the vision of AES and changes in the business environment which demand proactive action plans Leads the annual budgeting exercise starting from budget forecast to challenge meeting to budget drill down to ensure that the strategic objectives are achieved with the most appropriate budget Reviews reconciliations of accounts to ensure the robustness of the control processes Reviews actual vs. target variances and monthly budget and proposed corrections for the variances to ensure the attainment of objective Advises and constantly feeds the CEO and other decision makers with benchmarks on various metrics and financial updates and situation Ensures Audit compliance (internal & external) and full sign off without reservation from the external auditors to maintain adequate level of adherence to AES’s policies and procedures and reduce violations incidents Accounting Oversees the accounting operations (Accounts Payables, Receivables, Fixed Assets & Inventory) to ensure that the operations are accurate and flowing smoothly Oversees the activities which are related to the Fixed Assets and inventory to ensure that the accounts are balanced and representatives facts Treasury Directs the Treasury function to ensure AES is adequately funded to meet its short, medium and long term cash requirements Directs the efficient management of surplus cash through efficient treasury management to improve profitability through good funds management Directs, reviews and approves financial investments in order to maximise the utilisation of funds Ensures adequacy of capital structure at the corporate level to meet investment needs Negotiates and reviews the financial implications of investments to diversify the core business Budget Contributes to AES budget, approves the business line budget and oversees the monitoring of financial performance verses the set budget to ensure alignment Leadership Champions the process of effective leadership to raise employees’ awareness towards AES’s mission, vision, strategy and values to ensure high level commitment towards AES Reporting Reviews all Finance reports for accuracy and in order to ensure that they conform with relevant principles of corporate governance and that they meet AES and business line requirements, policies and standards Safety, Health & Environment Ensures compliance to all relevant safety, health and environmental procedures across the department in order to promote a healthy and safe work environment Related Assignments Performs other related duties or assignments as directed Performance Standards The Business Line strategy is documented, approved, communicated and implemented Compliance with procedural and legislative requirements The five year plan is documented, approved and implemented Return on capital employed Internal rate of return or profit margins on a project basis are in line with plans Number and quality of improvements are line with AES’s expectations and implemented Cash flow position covers payments according to AES’s standards Investments meet financial measures like rate of return or profit on disposal No. of Audit observations Full compliance and adherence to AES’s financial policies and procedures Financial variance versus budget Budget is prepared within budgeting process timescale Motivation and commitment of staff towards AES All business line reports are prepared in a timely and accurate manner and meet AES policies and requirements, as well as relevant principles of corporate governance Healthy and safe work environment Line manager’s feedback Supervisory Responsibilities Directly supervises five employees in the Finance Department. Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems. Competencies To perform the job successfully, an individual should demonstrate the following competencies : Analytical - Synthesizes complex or diverse information; Collects and researches data; Uses intuition and experience to complement data; Designs work flows and procedures. Problem Solving - Identifies and resolves problems in a timely manner; Gathers and analyzes information skillfully; Develops alternative solutions; Works well in group problem solving situations; Uses reason even when dealing with emotional topics. Technical Skills - Assesses own strengths and weaknesses; Pursues training and development opportunities; Strives to continuously build knowledge and skills; Shares expertise with others. Interpersonal Skills - Focuses on solving conflict, not blaming; Maintains confidentiality; Listens to others without interrupting; Keeps emotions under control; Remains open to others' ideas and tries new things. Oral Communication - Speaks clearly and persuasively in positive or negative situations; Listens and gets clarification; Responds well to questions; Demonstrates group presentation skills; Participates in meetings. Written Communication - Writes clearly and informatively; Presents numerical data effectively. Teamwork - Balances team and individual responsibilities; Exhibits objectivity and openness to others' views; Gives and welcomes feedback; Contributes to building a positive team spirit; Puts success of team above own interests; Able to build morale and group commitments to goals and objectives; Supports everyone's efforts to succeed. Visionary Leadership - Displays passion and optimism; Inspires respect and trust; Mobilizes others to fulfill the vision; Provides vision and inspiration to peers and subordinates. Leadership - Exhibits confidence in self and others; Inspires and motivates others to perform well; Effectively influences actions and opinions of others; Accepts feedback from others; Gives appropriate recognition to others. Managing People - Includes staff in planning, decision-making, facilitating and process improvement; Takes responsibility for subordinates' activities; Makes self available to staff; Provides regular performance feedback; Develops subordinates' skills and encourages growth; Solicits and applies customer feedback (internal and external); Fosters quality focus in others; Improves processes, products and services.; Continually works to improve supervisory skills. Business Acumen - Understands business implications of decisions; Displays orientation to profitability; Demonstrates knowledge of market and competition; Aligns work with strategic goals. Cost Consciousness - Works within approved budget; Develops and implements cost saving measures; Contributes to profits and revenue ; Conserves organizational resources. Strategic Thinking - Develops strategies to achieve organizational goals; Understands organization's strengths & weaknesses; Analyzes market and competition; Identifies external threats and opportunities; Adapts strategy to changing conditions. Motivation - Sets and achieves challenging goals; Demonstrates persistence and overcomes obstacles; Measures self against standard of excellence; Takes calculated risks to accomplish goals. Planning/Organizing - Prioritizes and plans work activities; Uses time efficiently; Plans for additional resources; Sets goals and objectives; Organizes or schedules other people and their tasks; Develops realistic action plans. Professionalism - Approaches others in a tactful manner; Reacts well under pressure; Treats others with respect and consideration regardless of their status or position; Accepts responsibility for own actions; Follows through on commitments. Initiative - Undertakes self-development activities; Seeks increased responsibilities; Takes independent actions and calculated risks; Looks for and takes advantage of opportunities; Asks for and offers help when needed. Qualifications To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill, and/or ability required. Minimum education requirement: Bachelor’s degree in Finance/Accounting from a reputable university OR MBA or equivalent post-graduate qualification from an internationally recognized business school A professional qualification such as CPA, CA, ACCA Knowledge and/or Experience Minimum knowledge and/or Experience requirement: Bachelor Degree Holders: 10 to 12 years of experience in Finance and Accounting; 6 years of which are in the financial l field in a managerial position OR Post Graduate Holders: 8 to 10 years of experience in Finance & Accounting; 4 years of which are in a managerial position Language Skills Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to write reports, business correspondence, and procedure manuals. Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public. Reasoning Ability Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables. Computer Skills To perform this job successfully, an individual should have knowledge of ERP Accounting software; Spreadsheet software and Word Processing software. Certificates, Licenses, Registrations Must be Certified Chartered Accountant. Physical Demands The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this Job, the employee is regularly required to sit. Work Environment The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually quiet. General Comments Occasional unsociable hours. Application Procedure Candidate with Middle Eastern experience will be considered. Please forward your most up-to-date CV together with salary details to firstname.lastname@example.org quoting job code ref above or by calling recruitment officer on 00966 1 4772398 Ext 1109.
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