Reconciliation Center of Excellence Manager

Title: Reconciliation Center of Excellence Manager

Department: Finance

Location: Riyadh

Core Responsibilities:

• Supervise overall reconciliation function, ensuring accuracy and timeliness across all accounts.
• Establish and maintain reconciliation policies, processes, and escalation standards.
• Oversee daily, weekly, and monthly reconciliations for high-impact company accounts.
• Support review and approval of reconciliations and monitor aging items, ensuring issues are resolved promptly.
• Ensuring SLAs and quality targets are consistently achieved.
• Coordinate with Finance, Risk, and Audit teams for control reviews and exception reporting.
• Introduce process improvements and automation initiatives through SAP or similar systems.
• Prepare management reports and dashboards on reconciliation performance.
• Ensure alignment with SAMA control and financial reporting expectations.
• Contribute to process improvement and automation activities.
• Maintain proper documentation and audit trails for all reconciliations
• Ability to track the following types of key performance indicators: Review accuracy rate (%), Exception closure turnaround time, Number of recurring discrepancies identified.
• SLA adherence for reconciliations reviewed.
• Ensures that bank procedures on GL controls are appropriately aligned with Group best practices.
• Performs quality checks on GL data to ensure the accuracy and consistency of certification by the line of business.
• Manages and monitors the daily HUB and GL exceptions for escalation and resolution and provides technical assistance and guidance to other departments to clear their expectations and ensures accuracy in the process.
• Manages GL, Interest, HUB, ALF maintenance.
• Supervises monthly GL accounts certification closing activities in line with internally developed requirements; Monitors and maintains the GL ownership tree with approval authorities as per SAB standards.
• Liaises with internal and external auditors to ensure that accounts are prepared in a legally compliant way.
• Coordinates successful implementation of auditors recommendations and reporting them to the management.
• Manage the department to review and identify the department RCA (Risk Control Analysis) to ensure the proper coverage of all critical activities in line with internal control compliance.
• Manage the requisite reports (weekly/monthly/ad-hoc) and ensure timely submission to facilitate decision-making.
• Generates reports on discrepancies and anomalies highlighted in the accounting cycle through ledger maintenance.
• Participates in developing plans, systems, and internal processes as required to govern all aspects of the general ledger function per SAB's established policies.
• Other Ad hoc tasks to strengthen the internal control of the finance department.

Qualifications and Requirements:

• Bachelor's degree in Accounting, Finance, or Business Administration.
• 3-5 years of experience in accounting, reconciliation, or financial control.
• Minimum 2 years in a supervisory or managerial reconciliation role.
• Prior working experience on Oracle, Excel, or custom reconciliation software.
• Solid understanding of reconciliation principles and financial controls.
• Familiarity with IFRS/SOCPA and regulatory compliance in Saudi Arabia
• Familiarity with banking products and services.
• Holding professional certification in Accountancy is highly preferable.