Financial Planning and Analysis Manager

Role Overview

Lead and manage the financial planning and analysis (FP&A) functions for corporate activities, overseeing the budget and rolling forecasts for corporate profit and loss accounts. Monitor financial performance compared to plans, provide insights, analysis, and early warnings to the CFO and business leaders to effectively control costs, margins, and overall financial health.

Custodianship and Boundaries

• This is an analytical and planning position with no ownership of sub-ledger or general ledger accounts.
• Maintains the budget model, rolling forecast model, and management reporting packs but does not own reported actuals, which are certified by respective custodians.
• Does not engage in recording or posting financial transactions; any discrepancies found are escalated to appropriate custodians for correction.
• Administrates the budget process by challenging and consolidating submissions but does not set budgets for other functions.
• Confirms budget availability for procurement and spends but does not authorize expenditures or payment releases.
• Recommends budgets, forecasts, virements, and business cases for approval by CFO or Board but does not approve them directly.
• Has no authority over chart of accounts or cost centre structures but defines the management reporting hierarchy within them.
• Accounting policies and treatments are governed by General Ledger Manager and Accounting Director.

Key Accountabilities

• Manage the annual corporate budget cycle, including issuing calendars, instructions, templates, and consolidating for approval.
• Oversee rolling forecasts by updating revenue, cost, and margin, providing explanations for variances.
• Prepare monthly management reports for corporate profit and loss, executing variance analyses with commentary from budget holders.
• Monitor performance to identify emerging risks and escalate issues early to CFO and budget holders.
• Confirm budget availability for procurement requests, alerting stakeholders to any shortfalls.
• Track commitments and open purchase orders to ensure accurate budget consumption reports.
• Provide budgeted but uninvoiced spend details to Accounts Payable for accrual accuracy.
• Develop and monitor financial KPIs for corporate activities, defining metrics and reporting on performance.
• Support corporate initiatives through preparation of business cases, scenario planning, and cost–benefit evaluations.
• Collaborate with department heads on cost control, headcount, resource planning, and convert operational plans into financial impacts.
• Prepare annual operating plans and long-term financial forecasts to support strategic planning.
• Provide approved budget and forecast information to Treasury for liquidity and cash flow management.
• Align planning and reporting calendars with closing schedules and company events.
• Maintain version control and documentation of budget and forecast models, including assumptions and changes.
• Assist CFO with financial reporting for the Board, shareholder, and related external bodies.
• Facilitate audit processes by supplying documentation and explanations related to budgets and forecasts.
• Ensure adherence to financial policies, internal controls, and Delegation of Authority in all FP&A activities.
• Lead, mentor, and develop the team; manage succession and backup plans for critical reporting functions.

Committee Participation

Participate in the Budget Review committee, acting as finance secretariat, presenting consolidated budgets, reforecasts, and variance positions as directed by the CFO.

Key Interfaces

• Internal: CFO, Accounting Director, General Ledger Manager, Accounts Payable, Accounts Receivable & Collections, Treasury, FP&A Projects team, department heads, Procurement, and Human Resources.
• External: External auditors and financial planning advisory providers.

Job Requirements

• Bachelor's degree in Finance, Accounting, Economics, or a related discipline.
• At least 8 years experience in financial planning and analysis, management reporting, or corporate finance with demonstrated leadership roles.
• Proficient in budgeting, rolling forecasting, variance analysis, and management reporting.
• Proven experience managing corporate budget cycles and producing management reporting packs end-to-end.
• Working knowledge of IFRS to interpret financial results without direct accounting responsibility.
• Advanced financial modeling expertise and familiarity with ERP and Enterprise Performance Management (EPM) systems.
• Strong analytical abilities combined with commercial judgement to challenge and support budget holders.
• Excellent communication and stakeholder management skills; fluency in Arabic and English mandatory.
• Professional certifications such as CMA, CFA, SOCPA, CPA, or ACCA are preferred.

Travel Requirements

Frequent travel is expected between Jeddah and Riyadh.