Job Summary
The Section Head is responsible for overseeing payment and cash management activities, financial closing procedures, reconciliations, and financial control processes. The role ensures the accuracy and integrity of financial records, timely execution of payments, proper reconciliation of accounts, and compliance with internal financial procedures. The position also supports internal and external audits, financial reporting, and monitoring of financial exposure and obligations.
Key Responsibilities
Payments & Cash Management
- Maintain payment schedules, ensuring data completeness, accuracy, integrity, and proper reconciliation of due dates.
- Review and provide final confirmation of service providers' dues, employee advances, expenses, and petty cash prior to payment.
- Review and confirm bank entries to ensure accuracy and proper recording.
- Act as the primary point of contact with banks and service providers regarding financial transactions and payment matters.
- Maintain an updated database of banking facilities, contracts, rates, fees, and related documentation.
Financial Closing & Reconciliation
- Maintain ownership of the Chart of Accounts and Trial Balances (TBs).
- Oversee financial closing procedures and schedules, ensuring the completion and review of bank and related-party (RP) reconciliations.
- Oversee third-party reconciliations and balance confirmations, including suppliers, banks, and service providers.
- Review and confirm financial closing files to ensure accuracy and completeness.
- Review and confirm DBS and NCP.
Audit, Reporting & Financial Control
- Support interim and annual external audits and coordinate the preparation of required financial documentation.
- Reconcile open purchase orders with the General Ledger (GL), including markup checks.
- Prepare and monitor net currency exposure reports.
- Monitor collection forecasts against Days Sales Outstanding (DSO).
- Reconcile supplier and not-shipped balances against payment schedules, including credit and debit supplier balances and not-shipped items.
Requirements & Qualifications
- Bachelor's degree in Accounting, Finance, Business Administration, or a related field.
- 5–8 years of relevant experience in accounting, finance, financial control, or treasury operations.
- Strong knowledge of financial closing procedures, bank reconciliations, and third-party account reconciliations.
- Good understanding of banking operations, payment processes, and cash management.
- Proficiency in ERP systems and Microsoft Excel.
- Strong analytical, organizational, and problem-solving skills.
- High attention to detail, accuracy, and financial integrity.
- Good command of English; Arabic is an advantage.