Tuwaiq Casting & Forging Company
Riyadh, Saudi ArabiaPosted 1 weeks ago
Description Lead the financial accounting function, ensuring accurate financial reporting, regulatory compliance, and strong internal controls. Safeguard financial integrity while supporting audit processes and Company governance. Ensure alignment between accounting and operational activities, particularly manufacturing and inventory movements, while maintaining strong control over assets and liabilities. Support senior management with reliable financial information and insights to enable effective decision-making and financial discipline across the Company. Job Key Responsibilities Financial Reporting & Close • Oversee monthly, quarterly, and annual financial statements in compliance with IFRS. • Ensure timely and accurate period-end closing, including plant-related entries. • Review and validate cost of sales, inventory valuation, and margins. Inventory & Cost Accounting Oversight • Ensure accurate accounting of raw materials, WIP, and finished goods. • Oversee standard costing, cost roll-ups, and variance accounting. • Validate inventory valuation (including provisions, NRV, and obsolescence). • Ensure proper accounting for production variances and absorption. Fixed Assets Management • Oversee full lifecycle of fixed assets from capitalization to disposal. • Ensure proper capitalization of CapEx projects (including CWIP to asset transfer). • Review and approve asset classification, useful lives, and depreciation methods in line with IFRS. • Monitor and control capital work-in-progress (CWIP) and ensure timely capitalization. • Ensure accurate recording of additions, disposals, and transfers within the asset register. • Oversee periodic fixed asset verification and reconciliation with physical counts. • Ensure proper accounting for impairment assessments and asset write-downs where required. • Maintain strong controls over asset tracking and safeguarding. Zakat, Tax & Regulatory Compliance • Ensure full compliance with requirements of Zakat, Tax and Customs Authority (ZATCA). • Oversee preparation and submission of Zakat returns in accordance with Saudi regulations. • Manage VAT compliance, including filings, reconciliations, and documentation. • Ensure proper handling of withholding tax (WHT) and other applicable taxes. • Liaise with ZATCA on assessments, audits, and queries. • Monitor changes in local tax laws and ensure timely implementation within the Company. General Ledger & Controls • Maintain integrity of the general ledger and chart of accounts. • Ensure proper reconciliation of all balance sheet accounts. • Oversee accounting for provisions, accruals, leases, and financing arrangements. Plant Accounting & Integration • Ensure alignment between production data and financial records. • Work closely with plant teams on inventory counts, adjustments, and controls. • Oversee physical inventory counts and cycle count programs. Audit & Compliance • Lead external audit process and manage auditor requirements. • Ensure compliance with IFRS and applicable local regulatory requirements. • Address audit findings and strengthen control environment. Internal Controls & Governance • Establish and enforce strong financial controls across procurement, inventory, and payments. • Ensure adherence to DoA and Company policies. • Monitor financial risks, especially around inventory and cost accuracy. Working Capital & Balance Sheet Integrity • Oversee inventory, payables, receivables, and cash accounting. • Ensure accuracy of working capital reporting and movements. • Monitor and control provisions and liabilities. Team Leadership • Lead and develop accounting team across Company and plant functions. • Build capabilities in cost accounting and manufacturing finance. • Ensure clear roles, accountability, and performance management. Systems & Process Optimization • Optimize ERP usage for accounting and inventory modules. • Improve automation, reporting efficiency, and closing timelines. • Enhance integration between operations and finance systems. Requirements • Bachelor’s degree in Accounting or Finance • 10–15+ years in financial accounting, preferably in manufacturing. • Strong expertise in inventory accounting, cost accounting, and fixed assets. • Strong knowledge of IFRS and local regulatory requirements (including Zakat and tax regulations in Saudi Arabia). • Experience with ERP systems (preferred: Microsoft Dynamics 365 Finance & Operations). • Proven experience in managing external audits and regulatory interactions. • Strong communication and interpersonal skills, with ability to coordinate across departments. • Strong presentation and reporting skills, including preparation of management-level outputs. • Proven experience in engaging with senior management and supporting decision-making. • Strong leadership capability with a control-oriented and detail-focused mindset. Show more Show less
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Get my free matchesAED 14k–18k a month· est.