Accounting Manager-OTC & Governance

ASMO is a groundbreaking joint venture between DHL and Saudi Aramco. Inheriting DHL’s logistics excellence and Saudi Aramco’s extensive supply chain ecosystem, we are here to set a new benchmark and redefine the procurement and supply chain landscape, enabling growth.

ASMO aims to be operational in 2025 and provide reliable end-to-end integrated procurement and supply chain services for companies across the industrial, energy, chemical, and petrochemical sectors. Our focus customers in the short term will be Saudi Aramco and its Affiliates. In the long term, all the industrial sectors within Saudi Arabia aim to reach the MENA region.

Objective:

The role holder is responsible for overseeing the day-to-day operations of all accounting activities within the Finance function, including but not limited to, revenue accounting, collection follow ups, DSO management etc. Develop and maintain OTC related accounting, General accounting issues, IFRS/IAS compliance and financial reporting. Implement ASMO internal control policies and implement KSA financial reporting and accounting standards.

General Responsibilities:

• Report to Accounting Director on the progress of all accounting activities in the above-mentioned areas and global and local compliance requirements, challenges and issues faced, mitigations taken, etc.
• Manage and continuously monitor the performance of the Department to ensure performance deviations are identified timely manner, and required resources and actions are implemented to meet performance targets.
• Manage and control the AR ledger activities and ensure compliance with accounting principles and regulatory requirements.
• Maintain billing accounting records and related processes in Oracle
• Creation of customer age report at month-end/ad-hoc along with the reasons for unpaid invoices. Able to generate different reports for management information.
• Verify the accurate monitoring of account balances for the different customer segments and supports the creation of an efficient bad-debt provisioning mechanism.
• Supervise the record-to-report process, including general ledger maintenance, reconciliations, and financial reporting.
• Supervise and control the general ledger activities to ensure compliance with accounting principles and regulatory requirements.
• Oversees monthly closing process in coordination with other relevant functions.
• Coordinate with the Internal Audit function to ensure compliance with audit practices and prepare accordingly when preparing for external audits.
• Ensure compliance of internal control framework.
• Coordinate successful implementation of auditors’ recommendations and reporting accordingly.
• Oversees the preparation of accounting figures and reports and their contribution to the FP&A department (weekly/monthly/ad-hoc) and ensures timely submission of the same to facilitate decision making.
• Ensures sound accounting principles are adhered to in the development of Balance Sheets, P&L accounts, asset accounts, etc.
• Manage the activities of direct reports to ensure that all work is carried out in an efficient manner, in line with the accounting policies and procedures.
• Manage the performance management process by setting annual KPIs and developing staff through mentoring, coaching and constructive feedback.
• Identify employees’ training and developmental needs and bridge the knowledge gaps to ensure continuous progression, and high-level of competence within the team.
• Contribute in defining an optimum structure for the Department, to ensure smooth workflow of operational processes and optimal utilisation of resources.
• Identify and manage implementation of change initiatives on systems, processes and practices considering ‘international leading practices’, and/or other changes in the business environment.
• Recommend improvements to departmental procedures, and ensure implementation of policies, procedures, systems, and controls covering the assigned areas of responsibility so that all activities meet ASMO’s standards, compliance, and regulatory requirements, align to business requirements, and increase operational efficiency.
• Identify opportunities for the continuous improvement of systems, processes and practices considering ‘international leading practices’, to increase operational effectiveness.
• Ensure that all relative reports are prepared timely and accurately, and meet the Department’s requirements, policies, and standards.

Qualifications:

• Bachelor's degree in finance, accounting, economics, or equivalent from a recognized and accredited university.
• Master’s degree in finance, accounting, economics, or equivalent from a recognized and accredited university is preferred.
• ACA / CMA / CPA / ACCA.
• Demonstrated proficiency in oral and written English.
• 9 years’ experience in similar or related field.