Role Description
We are seeking a motivated and experienced individual to take on the Finance and Procurement Manager role at King Fahad Cultural Center. A renowned global venue operator is looking to build a highly motivated team to support its operations at a newly refurbished venue in Riyadh, Kingdom of Saudi Arabia. King Fahad Cultural Center (KFCC) features a 2750-seat main auditorium and will present worldclass productions across multiple genres. With its state-of-the-art facilities, KFCC is set to become a leading venue for cultural activities in Riyadh. The venue will host an extensive range of events leveraging the latest technological advancements.
The Manager - Finance & Procurement will be responsible for the day-to-day operation, accuracy, integrity and transparency of the financial accounting systems within the organization. The incumbent should also:
• Have the ability and willingness to undertake and be responsible for a variety of tasks from creating flexible and integrated organizational budgets and analyzing financial data, oversee monthly transactional accounts, undertaking variance analysis and implementing financial controls.
• Prepare and present the financial operations and financial strategic planning of the organization.
• Work closely and report directly to FD and shall perform both tactical and strategic work, collaborate with team members in non-finance areas, have career interest that extends beyond finance into operations and assist the FD & GM with presentations to the stakeholders.
• Responsible to manage Arena procurement activities.
What the role includes?
- To manage and operate the busy finance function, providing accurate and timely management accounts and budgets, paying staff and invoices, and working with the FD and GM to ensure healthy cash flow and financial security.
- To support the best possible operational finance practice for the venue, including Procurement.
- To implement finance policies and procedure for the venue taking into consideration all control aspects and proper delegation of authorities.
- To ensure the venue procurement process is transparent and robust to achieve maximum benefit for the venue.
- To ensure timely reconciliation of venue ticketing system with the service provider and merchant banks and funds are settled to promoters on a timely basis.
- To ensure the implementing, integrating and managing of venue IT systems of the venue such as accounting ERP, Booking software, ticketing system etc,.
- Manage the salary budgeting, payroll processing, salary payments, statutory compliances of the local labour laws.
- To prepare/review accurate and timely monthly management accounts and monitoring cash flow.
- Ensure the timely and accurate reconciliation of all cash accounts and manage cash balances to ensure sufficient liquidity to meet the organization’s financial obligations
- To prepare and manage annual budgets.
- To Review monthly budget vs. actual reports to validate the completeness and accuracy of data.
- To ensure departmental expenditure are reconciled each month with each budget-holder.
- To prepare annual statutory accounts for audit, liaising with the auditors to implement system improvements as agreed, and monitoring and developing financial control procedures.
- To maintain and be responsible for the company accounts and other related financial records as required per applicable law.
- To discuss and prepare alternative financial proposals to work with external event promoters and organizers.
