Assistant Accountant

About Varel Energy Solutions

Varel Energy Solutions (VES) stands as a global leader in the manufacturing and supply of downhole drilling and completions products for the energy sector. Our success is deeply rooted in the dedication, expertise, and cultural values of our employees. At VES, we foster a dynamic and fast-paced work environment that not only challenges professionals but also rewards their contributions with competitive compensation and a comprehensive benefits package. If you are seeking a platform to advance your career while working alongside industry experts, Varel Energy Solutions offers the ideal opportunity to grow and thrive.

Position Overview

The Assistant Accountant plays a pivotal role in maintaining the financial integrity of VES by ensuring accurate and timely processing of transactions, reconciliations, and reporting. This position is responsible for managing bank accounts, issuing customer invoices, processing supplier payments, and maintaining meticulous financial records. The Assistant Accountant will support critical month-end and year-end closing processes, ensure compliance with accounting policies and tax regulations, and assist with audit documentation. Collaboration with senior accountants and the broader finance team is essential to drive financial accuracy and operational efficiency.

Key Responsibilities

• Maintain and Reconcile Financial Records: Update and reconcile bank accounts and statements to ensure accuracy and identify discrepancies promptly.
• Customer and Supplier Financial Operations: Issue customer invoices and upload them to customer portal sites, while processing supplier invoices and managing vendor payments efficiently.
• Data Management and Accuracy: Perform data entry tasks, maintain precise financial records, and document all company transactions to support transparency and compliance.
• Journal Entries and General Ledger: Prepare and post journal entries to accurately record financial transactions, ensuring the general ledger remains up-to-date and error-free.
• Financial Closing Support: Assist in month-end and year-end closing processes, including preparation of financial statements and ensuring adherence to accounting principles and regulatory requirements.
• Audit and Compliance Assistance: Provide comprehensive documentation and support to internal and external auditors, ensuring all financial activities align with company policies, tax laws, and international financial reporting standards (IFRS).
• Collaboration and Communication: Work closely with senior accountants and finance team members on various projects, fostering a collaborative environment to achieve financial objectives.

Qualifications and Requirements

To excel in this role, candidates must meet the following criteria:

• Education: A Bachelor’s degree in Accounting, Finance, or a related field is required. Awareness of Saudi invoicing and tax regulations, as well as IFRS and local statutory accounting standards, is essential.
• Professional Development: Progress toward or completion of professional certifications such as CMA, ACCA, or equivalent is highly desirable.
• Experience: A minimum of 1–3 years of relevant accounting experience is required, with a preference for candidates who have prior experience in issuing invoices, processing payments, and supporting month-end closing activities.
• Technical Proficiency: Strong skills in Microsoft Excel and familiarity with financial software used in the department are necessary to perform duties efficiently.
• Core Competencies:
  • Exceptional interpersonal, communication, and organizational abilities to interact effectively with stakeholders at all levels.
  • Meticulous attention to detail and exceptional organizational skills to manage multiple tasks and deadlines, particularly during critical financial periods.
  • Proven problem-solving skills with a practical and objective approach to resolving challenges.
  • Demonstrated integrity and discretion in handling confidential financial information.
  • Fluency in English, with the ability to communicate clearly, accurately, and concisely.

Varel Energy Solutions is committed to fostering a diverse and inclusive workplace where innovation and excellence are celebrated. If you are a detail-oriented professional with a passion for accounting and a drive to contribute to a high-performing finance team, we invite you to apply and become part of our global success story.