Chief Accountant – Contracting & Operations & Maintenance

Role Overview

Nafoud Al Athereia Contracting Company seeks a seasoned finance leader to manage accounting functions across contracting, infrastructure, water projects, and Operations & Maintenance sectors. The Chief Accountant will oversee daily accounting activities, financial closings, budgeting, project cost accounting, and management reporting, ensuring precise financial records, stringent internal controls, adherence to regulations, and transparent project and organizational performance insight.

Key Responsibilities

• Supervise the daily accounting and financial operations of the company.
• Direct and manage the accounting team by allocating duties, reviewing outputs, and ensuring prompt completion of financial tasks.
• Handle general ledger, accounts payable/receivable, fixed assets, payroll, employee advances, petty cash, and bank reconciliations.
• Lead monthly, quarterly, and yearly financial closing processes with accurate closing entries and reconciliations.
• Prepare annual budgets, periodic forecasts, cash flow estimations, and budget variance reports.
• Set up and monitor cost centers for individual projects, departments, and operational functions.
• Track actual project costs versus budgets, detect overruns, unrecorded commitments, and potential financial risks.
• Prepare and analyze project profitability including revenues, direct/indirect costs, margins, and anticipated outcomes.
• Review progress invoices, certified works, retentions, advances, subcontractor invoices, and related accounting records.
• Ensure correct accounting for work in progress, project revenues, accrued incomes/expenses, provisions, and commitments.
• Apply proper revenue recognition and cost allocation principles for contracting and long-term projects.
• Supervise customer collections, supplier payments, aging reports, and working capital needs.
• Manage bank accounts, financing facilities, guarantees, letters of credit, transfers, and reconciliations in cooperation with Treasury.
• Compile periodic financial statements, management reports, cash position dashboards, and performance reports.
• Ensure adherence to financial policies, authorized limits, internal controls, and supporting documentation standards.
• Collaborate with Projects, QS, Cost Control, Procurement, HR, Treasury, and Executive Management for accurate financial data.
• Handle VAT, withholding tax, and Zakat compliance and reporting with tax advisors and authorities.
• Coordinate with external auditors by providing schedules, reconciliations, confirmations, and audit support documents.
• Develop and enhance accounting policies, procedures, closing checklists, reporting templates, and workflows.
• Support implementation and effective use of Odoo or other ERP systems for precise project and cost-center accounting.
• Alert management proactively about liquidity risks, project losses, delayed receipts, cost overruns, and control issues.

Qualifications & Experience

• Bachelor's degree in Accounting, Finance, or related fields.
• At least 10 years of progressive accounting and financial experience.
• Minimum 10 years relevant experience in contracting, infrastructure, construction, or Operations & Maintenance sectors.
• Previous senior role experience such as Chief Accountant or Head of Accounts with team leadership responsibilities.
• Expertise in budgeting, financial statements, cash flow forecasts, and management reporting.
• Strong practical skills in project accounting, cost centers, project profitability, work-in-progress, progress billing, retentions, and subcontractor accounting.
• Well-versed with banking operations, financing facilities, guarantees, letters of credit, and treasury controls.
• Solid understanding of IFRS and accounting standards applicable to long-term and contracting projects.
• Familiarity with Saudi VAT, withholding tax, Zakat regulations, and tax authority procedures.
• Advanced proficiency with Microsoft Excel and ERP/accounting systems; experience with Odoo preferred.
• Experience working in Saudi Arabia highly favored.
• Professional accounting certifications such as CMA, SOCPA, CPA or equivalent are advantageous.
• Demonstrated strong leadership, analytical, reporting, problem-solving, and team management skills.
• Fluency in Arabic and English required.

Application Requirements

• Updated Curriculum Vitae.
• Summary outlining previous contracting and Operations & Maintenance accounting experience.
• List of key companies and projects managed.
• Brief report of quantifiable financial accomplishments such as closing process improvements, enhanced collections, cost center implementation, improved project reporting, or strengthened internal controls.
• Copies of related professional certifications, if available.