Senior Finance Manager

📢 We're Hiring: Senior Finance Manager – Real Estate / Construction📍 Location: Jeddah, Saudi Arabia

Key Requirements

Strong experience in the Real Estate and/or Construction industry.Professional qualification in CMA, CPA, CA, or ACCA is required. Job SummaryThe Senior Finance Manager will lead and oversee the company's financial management, planning, reporting, budgeting, forecasting, and financial control activities, ensuring strong financial performance, effective cash flow management, and compliance with applicable accounting standards and Saudi regulatory requirements.The role requires a finance professional with substantial experience in the real estate and/or construction industry, with a strong understanding of property development, project costing, construction contracts, real estate investments, project cash flows, and profitability analysis.Major Duties and ResponsibilitiesA. Financial Planning, Budgeting, and ForecastingLead the preparation of annual budgets, business plans, financial forecasts, and long-term financial projections.Develop financial models to evaluate business performance, project feasibility, investment returns, and profitability.Coordinate with department heads and project managers to prepare operational budgets and project-specific financial plans.B. Financial Reporting and AccountingOversee the preparation and review of monthly, quarterly, and annual financial statements and management reports.Ensure accurate and timely reporting of income statements, balance sheets, cash flow statements, and other financial information.Maintain compliance with applicable International Financial Reporting Standards (IFRS) and relevant accounting policies.C. Real Estate and Property Development FinanceOversee financial planning and analysis for real estate development, property investment, construction, leasing, and property management activities, as applicable.Evaluate the financial feasibility of real estate development projects, including residential, commercial, mixed-use, and other property developments.Prepare and review project financial models incorporating land acquisition costs, construction costs, development expenses, financing costs, sales revenue, rental income, and expected returns.Monitor project profitability, return on investment (ROI), internal rate of return (IRR), net present value (NPV), and other relevant financial indicators.Analyze property development budgets, sales projections, rental yields, occupancy rates, and operating expenses.D. Construction Project Finance and Cost ControlOversee project financial management, cost monitoring, budgeting, and profitability analysis for construction and development projects.Review project budgets, cost estimates, bills of quantities (BOQs), contractor quotations, purchase commitments, and variations.Monitor actual project expenditure against approved budgets and identify cost overruns, financial risks, and potential savings.Coordinate with project managers, quantity surveyors, procurement teams, and commercial departments to maintain accurate project cost reports.Review project cost-to-complete forecasts, estimate-at-completion reports, and projected final project costs.E. Cash Flow and Working Capital ManagementManage short-term and long-term cash flow forecasts to ensure adequate liquidity for business and project requirements.Monitor collections, customer receivables, contractor payments, supplier liabilities, and other working capital balances.Coordinate with sales, leasing, project, and commercial teams to improve collection performance and reduce overdue receivables.Develop cash flow projections for real estate developments and construction projects based on project milestones, payment schedules, and expected receipts.F. Financial Analysis and Business Performance ManagementAnalyze financial results, profitability, revenue trends, operating costs, and key performance indicators.Prepare management dashboards and financial reports to support strategic and operational decision-making.Evaluate business unit, project, property, and portfolio performance against established financial targets.G. Treasury, Banking, and FinancingOversee treasury activities, cash management, bank reconciliations, and liquidity planning.Coordinate with banks and financial institutions regarding credit facilities, project financing, loans, guarantees, and other banking requirements.Monitor loan balances, interest expenses, repayment schedules, covenant requirements, and financing costs.H. Taxation and Regulatory ComplianceEnsure compliance with applicable Saudi tax and regulatory requirements, including Zakat, Value Added Tax (VAT), withholding tax, and other relevant obligations, as applicable.Coordinate with tax advisors and relevant authorities regarding tax assessments, filings, clarifications, and compliance matters.I. Internal Controls, Risk Management, and AuditEstablish, implement, and monitor financial policies, procedures, and internal control frameworks.Ensure appropriate segregation of duties and authorization controls over payments, procurement, expenses, and financial transactions.Identify financial risks related to project costs, liquidity, revenue recognition, credit exposure, fraud, and financial reporting.J. Accounts Receivable, Payable, and Financial OperationsOversee accounts receivable, accounts payable, general accounting, fixed assets, and financial reconciliation activities.Monitor customer collections, tenant receivables, contractor balances, supplier payments, and outstanding financial commitments.Monitor outstanding advances, retention balances, deposits, and other financial assets and liabilities.K. Team Leadership and Stakeholder CoordinationLead, supervise, and develop the finance and accounting team, ensuring clear responsibilities and performance expectations.Establish departmental objectives, work plans, reporting timelines, and performance indicators.Coach finance personnel and identify opportunities for technical training and professional development.L. Strategic Support to Senior ManagementProvide financial analysis and recommendations for strategic business decisions and investment opportunities.Prepare business cases, financial models, and investment appraisal reports for management review.Evaluate capital expenditure proposals, financing alternatives, acquisitions, and business expansion opportunities.Contribute to business transformation, financial process improvement, and long-term growth initiatives.Qualifications and EducationBachelor's degree in Finance, Accounting, Commerce, or a related discipline.A recognized professional qualification in CMA, CPA, CA, or ACCA is mandatory.A Master's degree in Finance, Accounting, Business Administration, or a related field is preferred.Additional training in financial modeling, project finance, real estate investment analysis, or construction cost management is an advantage.Professional ExperienceMinimum of 10–12 years of progressive experience in finance and accounting, including significant experience in a senior finance management role.Strong experience in the real estate development, property investment, construction, or infrastructure sector is required.Required Technical Skills and CompetenciesFinancial and Technical CompetenciesFinancial planning, budgeting, and forecasting.Financial reporting and IFRS compliance.Key Working RelationshipsInternal StakeholdersGroup CFO / Finance DirectorCEO / General ManagerBoard of Directors and senior management, as requiredProject Management and Engineering TeamsCommercial and Contracts DepartmentExternal StakeholdersExternal auditors and tax advisorsBanks and financial institutionsZakat, Tax and Customs Authority (ZATCA), where applicableGeneral RequirementsMaintain the confidentiality and integrity of financial and commercial information.Ensure compliance with company policies, applicable laws, accounting standards, and delegated authorities.📩 Interested candidates: Send your CV to ahmed.linkedincv@gmail.com🤝 Referrals are welcome! 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