Director - Transactions Accounting

Overview

As the Director - Transaction Accounting at SEVEN, you will lead the transactional accounting operations focusing on Accounts Payable (AP) and Accounts Receivable/Revenue streams. This role involves managing centralized AP and AR teams, ensuring precise and timely handling of all payable and revenue transactions across SEVEN's entertainment venues, cinemas, and corporate business units. You will be responsible for driving revenue assurance, maintaining vendor relations, and achieving operational excellence in all transactional finance functions.

Key Responsibilities

• Formulate and align Transaction Accounting goals and performance metrics with overall Finance objectives, including AP throughput, AR collections, revenue reconciliation precision, and operational service levels across SEVEN's locations.
• Serve as the primary liaison with internal and external auditors, ensuring compliance with regulatory standards and SEVEN policies; uphold strong relationships with significant stakeholders within SEVEN and QIC group finance.
• Develop and enforce policies and procedures related to Accounts Payable processes, payment authorizations, revenue recognition practices, ZATCA compliance, and AR collections to uphold operational excellence.
• Lead employee performance management within the Transaction Accounting department following HR guidelines to foster continual improvement.
• Oversee recording and management of advance payments, prepaid expenses, petty cash, and corporate credit card documentation with appropriate validations and vendor reconciliations.
• Supervise the entry, reconciliation, and accuracy of Accounts Payable transactions aligned with organizational policies.
• Manage invoice aging reports and conduct periodic reviews and variance analyses to detect irregularities.
• Direct accounts receivable functions including preparation, verification, and documentation accuracy.
• Champion adherence to revenue policies across departments and ensure accurate billing and service quality.
• Control all financial transactions related to promotions, discounts, and commissions.
• Monitor daily cash collections and perform cash reconciliations with escalation processes for discrepancies.
• Manage leasing revenue from food & beverage and commercial tenancies ensuring compliance with IFRS 15 and IFRS 16 revenue accounting standards.
• Ensure compliance with ZATCA's electronic invoicing mandates for all AR transactions with timely submission per regulatory requirements.
• Implement revenue assurance measures including review of reconciliations, identification of variances, and coordination with IT and Operations for issue resolution.
• Reconcile daily revenues across POS systems (VGS, Micros, Vista) safeguarding accurate revenue recognition throughout SEVEN’s entertainment complexes.
• Prepare AR aging reports and handle recording of allowance journal entries.

Qualifications and Experience

• Bachelor's degree in Finance, Accounting, or a related discipline is required; a Master's degree is preferred.
• Professional accounting or finance certifications such as CPA, SOCPA, CFA, or CFP are advantageous.
• A minimum of 12-15 years of relevant experience with at least 5 years in a leadership capacity.
• Experience working in a Big 4 audit firm within Audit and Assurance preferred.
• Proven expertise in high-volume AP and AR operations with ERP platforms, ideally SAP.
• Familiarity with revenue management tools including VGS, Micros, Vista and knowledge of ZATCA e-invoicing compliance is highly desirable.
• Background in transactional accounting within the entertainment, hospitality or retail industries is preferred.