MEMF ELectrical Industrial Co. Riyadh, Saudi Arabia

Finance Director

  • Riyadh
  • MEMF ELectrical Industrial Co. Riyadh, Saudi Arabia
  • Posted date: 3 days before
  • End date: 2024-05-30

Job Title: Finance Director

Job In Riyadh

Company: MEMF ELectrical Industrial Co. Riyadh, Saudi Arabia

Start Date: 2024-05-15

End Date: 2024-05-30

Job Description

Major Duties and Responsibilities:

  • Obtain and maintain a thorough understanding of the financial reporting and general ledger structure.
  • Ensure the accuracy and authenticity of all accounting transactions as per the IFRS guidelines.
  • Ensure an accurate and timely monthly, quarterly and year end closing and reporting.
  • Provide necessary information and data required by the Auditors (Statutory & Internal)
  • Ensure the quarterly reviews and annual auditing as per the management deadlines.
  • Proper Accounting, monitoring and reconciliation for Intercompany transactions.
  • Monitoring and reporting related party transactions.
  • Ensuring timely collection from debtors.
  • Recommend for appropriate provisions for bad debts on a consistent basis as per the company policy.
  • Controls on records keeping, proper filing and documentation.
  • Ensuring appropriate provisions for Zakat & VAT and coordinating for submission of monthly returns and obtaining final Certificates from the ZATCA.
  • Coordinate with consultant for Withholding Tax (WHT) clearance and submitting necessary documents for WHT provisions. Ensuring compliance with WHT rules on monthly and quarterly basis.
  • Inventory valuation and ageing analysis.
  • Monitoring Fixed Assets Accounting and depreciation computation.
  • Proper and timely booking of provisions, accruals and prepaid expenses
  • Appropriate and accurate provisions for End of Service benefits.
  • Keeping track of important Insurance policies of the company.
  • Supports budget and forecasting activities.
  • Competent in making 3 to 5 year’s financial projections.
  • Must be conversant in making the capital investment evaluations (IRR, NPV Payback period etc.)
  • Collaborates with the other department managers to achieve the overall goals and objectives of the company.
  • Monitors and analyzes department work to develop more efficient procedures and use of resources while maintaining a high level of accuracy.
  • Advises staff regarding the handling of non-routine reporting transactions.
  • Ensure that efficient cash flow is achieved in the entity.
  • Responds to inquiries from the CFO, FC, Reporting Manager, Treasury Manager and other department managers regarding financial results and special reporting.
  • Work with CFO, FC, Reporting Manager and Treasury Manager and to ensure clean and timely quarterly review and yearend audit.
  • Supervise the general ledger group to ensure all financial reporting deadlines are met.
  • Assist in development and implementation of new procedures and features to enhance the workflow of the department.
  • Provide training to new and existing staff as needed.
  • Handle personnel issues relating to staff conflicts, absenteeism, performance issues.
  • Work with each direct report to establish goals and objectives for each year and monitor and advice on the progress to enhance the professional development of staff.
  • Prepare the KPIs for all direct reports.
  • Additional duties as directed by CFO


  • Excellent communication skills and the ability to communicate financial issues with non-finance professionals and volunteers.
  • Problem solving ability.
  • Strong team player.
  • Excellent interpersonal skills.
  • Good planning and organizational skills.
  • Priorities workload and meet strict deadlines.


The following competencies must be met and practiced on a continuous basis:

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