Chief Accountant

About the Role

Samaya Investment Company is seeking a highly skilled and experienced Chief Accountant to oversee and lead the accounting operations across the organization. In this pivotal role, you will be responsible for ensuring the accuracy of financial reporting, maintaining compliance with international and local regulatory standards, and driving the financial integrity of the company. The ideal candidate will possess a strong background in accounting, tax compliance, and ERP system management, with a proven track record in managing complex financial structures within a group entity framework.

Key Responsibilities

The Chief Accountant will play a critical role in the financial health and operational efficiency of Samaya Investment. The primary responsibilities include:

• Financial Closing and Reporting: Lead the complete monthly, quarterly, and annual closing cycles, ensuring that the general ledger and trial balance are finalized and accurate by the 5th of each month. This includes overseeing journal entries, accruals, provisions, and intercompany transactions to maintain financial precision across all group entities.
• Reconciliation and Compliance: Supervise and approve bank, supplier, customer, and intercompany reconciliations to identify discrepancies and ensure financial integrity. Prepare and file VAT returns, Zakat requirements, and E-Invoicing (Fatoora) compliance in strict adherence to ZATCA regulations.
• Financial Statements and Analysis: Prepare accurate and timely monthly financial statements, including the Profit & Loss (P&L) statement, Balance Sheet, and Cash Flow statement. Support the annual budgeting process by providing detailed variance analysis to highlight performance trends and areas for improvement.
• Accounts Payable and Receivable: Oversee the accounts payable and receivable cycles, including aging analysis and collections, to optimize cash flow and maintain healthy financial relationships with stakeholders.
• Audit and Regulatory Support: Act as the primary point of contact for external auditors, preparing audit schedules and ensuring all documentation is readily available to facilitate smooth and efficient audit processes.
• Fixed Assets and Inventory: Maintain a comprehensive fixed asset register and oversee periodic inventory counts to ensure accurate asset valuation and inventory management.
• Team Leadership and Development: Supervise and mentor the accounting team, setting clear Key Performance Indicators (KPIs) and fostering a culture of accountability, professional growth, and operational excellence.
• ERP System Optimization: Drive the optimization and effective utilization of the Odoo ERP system, particularly within the Financial and Accounting modules, to enhance operational efficiency and data accuracy.

Requirements

To excel in this role, candidates must meet the following qualifications and experience:

• Education: A Bachelor’s degree in Accounting, Finance, or Commerce from a recognized institution. Professional certifications such as SOCPA, CPA, or CMA are highly desirable.
• Experience: A minimum of seven years of progressive accounting experience, with a preference for candidates who have worked in trading, retail, or group-structured environments. At least three years of experience in a Chief Accountant or Senior Accountant role is required.
• Regulatory Knowledge: Demonstrated expertise in Zakat, tax compliance, and ZATCA regulations within the Saudi market is essential. Candidates must be well-versed in the latest financial reporting standards and local regulatory requirements.
• Technical Proficiency: Expert-level proficiency in the Odoo ERP system, particularly in its Financial and Accounting modules, is mandatory. Familiarity with other ERP systems will be considered an advantage.
• Language Skills: Fluency in both Arabic and English, both written and spoken, is required to effectively communicate with stakeholders and ensure seamless operations.

Why Join Samaya Investment?

As a Chief Accountant at Samaya Investment, you will have the opportunity to contribute to the financial success and strategic growth of a dynamic and forward-thinking organization. You will work alongside a talented team of professionals, gain exposure to complex financial structures, and play a key role in shaping the financial future of the company. Samaya Investment offers a competitive compensation package, professional development opportunities, and a collaborative work environment that values integrity, innovation, and excellence.