Job Title: Finance Director / Senior Finance Manager – Construction Industry
Location: Riyadh, Saudi Arabia
Company: Confidential
Role Overview:
We are seeking a strategic and results-driven Finance Director / Senior Finance Manager with extensive experience in the construction industry to lead financial operations, planning, and reporting across the organization. The role is responsible for overseeing financial management, budgeting, forecasting, cost control, treasury operations, compliance, and financial systems optimization including Oracle Fusion implementation and management. This position plays a critical role in driving financial performance, supporting business growth, ensuring regulatory compliance, and providing strategic financial insights to senior leadership for informed decision-making.
Key Responsibilities:
Financial Leadership & Strategy
- Lead and oversee all financial operations including accounting, financial planning and analysis (FP&A), budgeting, forecasting, treasury, and financial reporting.
- Develop and implement financial strategies aligned with organizational objectives and business growth plans.
- Provide strategic financial insights, analysis, and recommendations to senior management and board of directors.
- Drive financial performance improvement initiatives, cost optimization, and profitability enhancement across projects and business units.
- Support business development activities with financial modeling, feasibility studies, and investment analysis.
Budgeting, Forecasting & Financial Planning
- Lead the annual budgeting process and quarterly forecasting cycles across all business units and projects.
- Develop comprehensive financial models to support strategic planning, capital allocation, and resource optimization.
- Monitor budget performance, analyze variances, and provide actionable insights to management.
- Prepare rolling forecasts and cash flow projections to support business planning and liquidity management.
- Coordinate with project teams to develop project-specific budgets and monitor financial performance against approved budgets.
Project Financial Management & Cost Control
- Oversee financial management of construction projects including cost tracking, revenue recognition, work-in-progress (WIP) accounting, and project profitability analysis.
- Monitor project financials, identify cost overruns, and implement corrective actions to ensure projects remain within budget.
- Review and approve project cost allocations, progress billing, variation orders, and contract claims.
- Ensure accurate and timely project financial reporting including earned value analysis and project margin tracking.
- Coordinate with project management teams to support project planning, procurement, and contract administration.
Financial Reporting & Compliance
- Oversee the preparation of monthly, quarterly, and annual financial statements in accordance with IFRS, SOCPA, and company policies.
- Ensure timely and accurate financial reporting to senior management, shareholders, and external stakeholders.
- Lead statutory audit processes, tax compliance, and regulatory reporting requirements.
- Ensure compliance with Saudi Arabian tax regulations including VAT, Zakat, Withholding Tax, and Corporate Income Tax.
- Maintain robust internal controls, financial policies, and governance frameworks to ensure compliance and mitigate financial risks.
- Coordinate with external auditors, tax advisors, and regulatory authorities.
Oracle Fusion & Financial Systems Optimization
- Lead the implementation, optimization, and ongoing management of Oracle Fusion Cloud ERP for financial operations.
- Oversee Oracle Fusion modules including General Ledger, Accounts Payable, Accounts Receivable, Cash Management, Fixed Assets, Project Costing, and Financial Reporting.
- Drive digital transformation initiatives to enhance financial processes, automation, and system integration.
- Ensure seamless integration between Oracle Fusion and other enterprise systems including procurement, project management, and HR systems.
- Develop financial dashboards, reports, and analytics using Oracle Fusion reporting tools.
- Provide training and support to finance teams on Oracle Fusion functionalities and best practices.
Treasury & Cash Management
- Oversee cash flow management, working capital optimization, and liquidity planning.
- Manage banking relationships, credit facilities, letters of credit, bank guarantees, and treasury operations.
- Monitor cash positions, forecast cash requirements, and ensure adequate liquidity for operational and project needs.
- Optimize capital structure and financing strategies to support business growth and investment activities.
Team Leadership & Development
- Lead, mentor, and develop the finance team including accountants, financial analysts, cost controllers, and financial controllers.
- Set clear performance objectives, conduct regular performance reviews, and provide coaching and professional development opportunities.
- Foster a culture of continuous improvement, accountability, and excellence within the finance function.
- Ensure adequate resources and capacity within the finance team to support business operations and growth.
Stakeholder Management & Collaboration
- Collaborate with senior leadership, project directors, procurement, operations, and commercial teams to support strategic initiatives.
- Provide financial insights and analysis to support contract negotiations, pricing strategies, and business development activities.
- Build and maintain strong relationships with banks, auditors, tax advisors, legal counsel, and regulatory authorities.
- Represent the finance function in board meetings, executive committee meetings, and strategic planning sessions.
Risk Management & Internal Controls
- Identify, assess, and mitigate financial risks including credit risk, currency risk, liquidity risk, and operational risk.
- Implement robust internal control frameworks to safeguard assets and ensure accuracy of financial reporting.
- Conduct financial risk assessments and develop mitigation strategies.
- Monitor compliance with financial policies, delegations of authority, and approval workflows.
Qualifications:
- Bachelor's degree in Finance, Accounting, Business Administration, or related field (mandatory).
- Professional accounting qualification such as CPA, CMA, ACCA, CA, or equivalent (mandatory).
- Fluency in English (written and spoken) is mandatory.
- Proficiency in Arabic is highly preferred.
- Minimum 12–15 years of progressive finance experience with at least 5–7 years in a senior finance leadership role (Finance Director, CFO, or Senior Finance Manager).
- Proven experience in the construction, contracting, or infrastructure industry is mandatory.
- Extensive hands-on experience with Oracle Fusion Cloud ERP implementation, configuration, and optimization (mandatory).
- Strong knowledge of IFRS, SOCPA, and Saudi Arabian tax regulations (VAT, Zakat, Withholding Tax, Corporate Income Tax).
- Experience with project accounting, WIP accounting, revenue recognition, and construction financial management.
- MBA or Master's degree in Finance or Accounting is an advantage.
Key Competencies:
- Strategic financial leadership and business acumen.
- Deep expertise in construction industry financial management and project accounting.
- Advanced proficiency in Oracle Fusion Cloud ERP across financial modules.
- Strong financial modeling, analysis, and forecasting capabilities.
- Excellent knowledge of IFRS, SOCPA, and Saudi tax regulations.
- Leadership and team development excellence.
- Exceptional communication and stakeholder management skills.
- Strong analytical, problem-solving, and decision-making abilities.
- Change management and digital transformation experience.
- High level of integrity, professionalism, and accountability.
