Section Manager - Costing And Financial Reporting

Job description:

Job Purpose

The Section Manager – Costing & Financial Reporting will be responsible for leading the costing and controlling activities of the business, ensuring accurate product/project costing, effective cost control, profitability analysis, and management reporting.The role will be approximately 70% focused on Costing & Controlling and 30% on Financial Reporting, Analysis & Investment Studies.

Key Responsibilities:

1. Costing & Controlling – 70% 

• Lead and manage the overall costing and cost-control function.
• Review project/job profitability and identify cost overruns, margin deterioration, idle costs, and operational inefficiencie
• Perform material, labor, overhead, efficiency, utilization, and profitability variance analysis.
• Monitor inventory valuation, consumption, slow/non-moving materials, provisions, and cost impact.
• Establish appropriate cost centers, profit centers, WBS structures, and cost allocation controls

2. Financial Reporting & Analysis – 30%

• Review monthly and annual financial statements and management reports.
• Perform detailed P&L, Balance Sheet and Cash Flow analysis.
• Ensure proper accounting treatment and compliance with applicable IFRS requirements
• Prepare monthly management reporting and provide clear explanations of major financial movements.
• Perform budget versus actual, forecast versus actual, and year-on-year analysis.

3. Investment & Business Analysis

• Prepare and review investment and feasibility studies.
• Evaluate CAPEX and business investment proposals.

Reporting & Business Intelligence

• Prepare professional monthly and periodic management reports

• Power BI experience is highly preferred, particularly in building financial and management dashboards.
• Advanced Excel capability is required, including Pivot Tables, financial modeling, complex formulas, and data analysis.

Qualification

• Bachelor's degree in Accounting, Finance, Cost Accounting, or related field.
• Professional certification such as CMA, CPA, ACCA or equivalent is preferred.
• Strong understanding of IFRS and financial statement preparation/analysis.
• Strong knowledge of cost accounting and management accounting principles.

Experience

• Minimum 6–10 years of relevant experience, with significant hands-on experience in costing and controlling.
• At least 3 years in a supervisory or managerial position
• Practical experience in ERP systems, preferably SAP.
• Experience in Power BI and financial dashboard development is highly preferred.

Required Competencies

• Strong Costing & Controlling background.
• Financial Statement & IFRS knowledge.
• Budgeting & Forecasting.
• Financial and Variance Analysis.
• Investment & Feasibility Studies.
• Internal & Financial Controls.
• Project/Business Profitability Analysis.
• Advanced Excel & Financial Modeling.
• Power BI & Dashboard Reporting.
• SAP/ERP experience.
• Strong communication skills

Alfanar is a Saudi company with an international presence, primarily engaged in the manufacturing and trading of a wide variety of low, medium, and high voltage electrical products, in addition to its portfolio of conventional and renewable energy solutions, oil and gas, water treatment, infrastructure, technical services, and digital solutions.

The hub of alfanar’s manufacturing operations is Medinet alfanar Alsinaiya, a 700,000 square-meter complex located in Riyadh. The complex houses an array of ultra-modern manufacturing facilities and laboratories equipped with state-of-the-art technologies and staffed with highly skilled professionals.

alfanar derives its success from its commitment to providing the highest quality standards to its customers, and the continuous development of its human capital, who alfanar considers its most valuable asset. With this in mind, alfanar promotes a proactive work environment where its employees are always valued, nurtured, and empowered to fuel their pride in being part of alfanar.

For more information about alfanar, please visit alfanar.com

• We offer a competitive salary and benefits package, as well as opportunities for professional development, continuous learning and growth and career advancement.
• Work with diverse and talented professionals from various backgrounds and experiences colleagues, all guided by our Leadership Model.
• Work in a friendly environment, where everyone shares positive vibes and excited about our future.