Financial Analyst - Budgeting Analyst

Job Summary:
A large family-owned conglomerate based in Dammam has a vacancy for a Financial Analyst position.

The Group Financial Analyst main role is to prepare, examine, update and consolidate the annual budget for the Group, and submit it to Top Management for review and approval and to prepare, review and submit timely and accurate financial reports to internal and external stakeholders to ensure compliance and adherence to corporate policies & procedure and government regulations.

Reports to: Group Financial Controller (GFC)
Supervises: Chief Accountant

Key Roles & Responsibilities:
1- Planning and Budgeting:
• Monitor and gauge the financial performance of the Group's companies against planned budgets so that areas of unsatisfactory performance are identified and rectified promptly and potential performance improvement opportunities are capitalized upon.
• Manage receiving and examining the Group annual budget estimates to ensure their accuracy, completeness and conformance with established procedures, regulations, and organizational objectives
• Study budgets of the previous financial years (if applicable), highlight profits and losses that are due to budget planning and suggest suitable amendments in the current year's budget to the Top Management.

2- Operations Management:
• Monitor budgetary control over all new resources (manpower hiring and CAPEX procurement)
• Assist the Group's Top Management in formulating pricing strategies, break even analysis and sensitivity analysis
• Coordinate with the Group Finance Managers to finalize the annual budgets
• Any other corporate finance assignment provided by GFC according to core business needs

3- Monthly / Quarterly Financial Reporting
• Prepare and submit the Group monthly / quarterly accurate financial reports by 14th of every month to the GFC.
• Prepare and submit monthly and quarterly accurate internal and external financial reports related to budgets, projects, financial position ,company growth, profit & loss and business performance evaluation to top management for review and necessary action
• Prepare of internal financial reports related to the Group companies to the relative management to evaluate their performance, and to take corrective actions and remedies in a timely manner.
• Prepare, communicate with the Group Finance Managers to prepare a 5-year business plan to ensure changes in business and regulations are captured and reported to the Top Management

4- Projects
• Initiate and automate key financial transactions with a view to minimize manual intervention and increase data accuracy
• Initiate, draft, discuss and handle financial aspects of key projects, as per business requirement
• Liaise between Business, IT and Finance to ensure reflection of accurate correct financial data

5- People Management
• Manage the activities and work of subordinates and evaluate their performance by providing formal and informal feedback to ensure that all work within a specific area is carried out in an efficient manner and in accordance with set individual targets
• Stimulate subordinates and manage the identification of opportunities for continuous improvement of systems, processes and practices taking into account ‘international best practice', improvement of business processes, cost reduction and productivity improvement

6- Policies, Processes and Procedures
• Recommend improvements to the Group policies and direct the implementation of procedures and controls covering all areas of financial planning and reporting activity so that all relevant procedural / legislative requirements are fulfilled while delivering a quality, cost-effective services

7- Safety, Quality and Environment
• Ensure compliance to all relevant safety, quality and environmental policies, procedures and controls across the section in order to guarantee employee safety and compliance with regulation