The Company, has the mandate for overseeing all residential and business property affairs, providing medical and security support for its employees, maintaining / promoting government relations, supporting the philanthropic initiatives of The Chairman, and arranging / coordinating all travel planning / logistics within the Arabian Peninsula and Internationally.
The Finance and Procurement Manager will be a pivotal position which involves designing, implementing, optimising, overseeing all financial and procurement activities locally and internationally.
The core objective is to assist in the co-development, implementation and management of a comprehensive financial strategy that establishes robust "Tone at the Top" controls for both financial and purchasing activities across Office Administration, HR, Legal, Security, IT, Domestic & International travel and logistics, Property and assets management departments.
Key responsibilities also include financial planning through effective OPEX and CAPEX budget development for the Chairman's private properties, assets, and family office affairs.
SALARY
Excellent Salary & Benefits D.O.E
LOCATION
The Arabian Peninsula
POSITION
Finance & Procurement Manager
TYPE OF HOUSEHOLD
Professional / Philanthropist, Formal Household, Commercial
LANGUAGE
English (Spoken Arabic would be beneficial but not essential)
Roles and Responsibilities
- Financial Management:
- Responsible to lead the co-development, implementation and oversight of the financial operations and reporting for the family's affairs and extensive property / asset portfolio.
- Responsible to oversee and authorise, “within financial approval matrix” all financial transactions, including cash flow, credit card management, wire transfers, international and domestic accounts receivable, payable and reconciliation.
- Oversee payroll processes ensuring salaries are processed accurately and timely.
- Supervise a small team of Account Managers dedicated to property management, private office affairs, and international operational functions.
- Develop and monitor annual OPEX, CAPEX budgets, forecasts, and financial plans in line with executive leadership.
- Ensure compliance with domestic and International Financial Reporting Standards (IFRS).
- Monitor and analyse financial performance, prepare accurate reports, financial packages and provide financial, strategic insights and recommendations to executive leadership.
- Procurement Management:
- Responsible to lead the co-development, implementation and oversight of all domestic and international procurement activities of goods and services, ensuring optimal cost efficiency, quality and alignment with the office’s strategic objectives.
- Supervise the procurement supervisor and ensure ethical and optimal procurement practices.
- Develop and maintain strong relationships with suppliers, service providers and vendors.
- Review, negotiate and optimise all existing service provider agreements with suppliers to secure favorable terms and conditions. Implement new agreements where none exist.
- Implement and monitor procurement policies and procedures to enhance efficiency, quality and cost-effectiveness.
- Treasury and Cash Management:
- Manage cash flow and liquidity to support ongoing domestic and international operations.
- Mitigate financial risks through effective treasury management, OPEX and CAPEX budgets, forecasts and financial planning.
- Implement rigid monitoring systems and mechanisms to track and reduce all cash expenditures.
- Team Leadership:
- Establish, train, oversee and lead a small team dedicated to finance and procurement activities.
- Provide visionary leadership to the finance and procurement team, fostering a positive, collaborative and high-performance culture.
- Conduct regular performance reviews and professional development initiatives for team members.
- Ensure clear communication and alignment of team objectives with the family's goals.
- Compliance and Risk Management:
- Ensure compliance with local regulations and international standards related to finance and procurement.
- Oversee internal audits and implement recommendations to strengthen internal controls.
- Identify and mitigate financial risks to protect the family's assets and interests.
- Coordinate closely with executive leadership and other departments to support the companywide operational needs.
Entry Requirements
- Proven experience (minimum 5-7 years) in a senior finance and procurement management role, preferably within a high-net-worth family office or similar environment.
- Familiarity with KSA financial regulations, tax laws and market dynamics is crucial.
- Demonstrated ability to set up, optimise and manage financial and purchasing systems and control mechanisms from the ground up.
- Financial management experience with treasury accounts, cash flow, banking, credit card expense tracking and reconciliation transactions.
- Strong understanding of financial analysis OPEX and CAPEX budget development and financial planning.
- Comprehensive knowledge of IFRS, financial regulations.
- Proficiency in supply chain management and procurement best practices.
- Excellent leadership and team management skills.
- Excellent analytical, problem-solving, and decision-making abilities.
- Strong communication, negotiation and interpersonal skills.
- Proficiency in Oracle NetSuite financial management software and tools preferable.
- English and Arabic speaking.
Eligibility
Job Competencies:
- Problem solving
- Effective and strategic decision taking
- Planning skills
Personal Competencies:
- Integrity
- Self-dependent
- Confidentiality
- Communication skills
