IDB2750 - Senior Manager, Finance

Business Unit: ICIEC
Division: Finance Division- ICIEC
Department: Not Applicable
Country: Saudi Arabia
Location: Saudi Arabia - Jeddah
Closing date: 17-Feb-2022


The role holder is responsible for leading strategic and tactical planning, development, evaluation and coordination of financial operations for ICIEC. The role holder is responsible for ensuring that Corporate strategy and objectives are cascaded into the performance plans of all departments and functions in ICIEC, guiding business decisions through financial planning, accurate and complete accounting in compliance with regulatory provisions, timely reporting and interpretation of financial information and establishing sound internal control procedures. Also, the role holder is responsible for the development and implementation of the Treasury and Investment strategies as well as assessing, monitoring, planning and managing the efficient utilization of cash in a manner consistent with the objectives of the Corporation.


Strategic Responsibilities

  • Contributes to the development of ICIEC’s strategy and contributes to the overall process of management and corporate decision making along with other members of the Management Team.


  • Directs and manages the Department mandates, providing leadership and facilitating work processes in order to achieve high performance standards.


  • Leads and monitors change in the Department providing guidance and support, necessary for continuous improvement.


  • Ensures compliance with organizational policies, procedures and quality standards in the Department.


    Business Planning & Budgeting


  • Advises the CEO in developing the overall Business Plan and Investment Strategy in consultation with Heads of Departments and ensure that these are in line with Corporate strategic plans and operating objectives.


  • Leads the development and execution of the Corporate strategies and business plans of the ICIEC and ensure that they are reflected in the ICIEC Financial Model.


  • Directs, controls and monitors the financial & accounting strategy and planning for ICIEC, conferring with the CEO and other Heads of Departments and formulate and implement short and long-term goals, policies and procedures for effective operations.


  • Oversees the development of budgets, short and long-term financial forecasts and related operating budgets for ICIEC and Departments.


  • Sets up Corporate performance evaluation parameters and periodic reporting on performance against Corporate KPI’s.


  • Monitors the actual performance of the departments against the budgets and ensures preparation of periodic MIS reports on the same for Senior Management to review.


  • Studies, analyzes and reports on trends and supports the business on opportunities for expansion by way of preparing financial projections and scenarios.


    Financial Planning


  • Provides active support in developing and implementing organizational strategies by contributing financial and accounting information, analysis, recommendations and provides financial advice on business strategies.


  • Leads the budget planning activity for ICIEC and sets the framework for annual business planning and budgeting, timelines, frequency etc. based on inputs derived from identification of demand, revenue and cost drivers and ensures alignment with the strategic plan.


  • Reviews overall budgets, mid-year and annual forecasts and cost accounting processes for ICIEC based on inputs derived from past performance and the strategic direction of the organization and ensures disbursement of budget is in adherence to established financial plan.


    Financial Control


  • Establishes framework and processes for efficient and effective management of Corporation’s finances through all necessary financial controls, systems and processes and ensures accuracy and integrity of the Corporation’s financial records.


  • Directs the preparation and analysis of all financial reports, including income statements, balance sheet and cash flow statements in accordance with financial accounting standards for Islamic Financial Institutions and International Accounting Standards.


  • Establishes and ensures a robust control and governance environment in line with regulatory requirements and consistent with ICIEC’s internal policies and ensures statutory compliances of all systems, processes and accounting practices.


  • Monitors cost distribution and exercises necessary budgetary controls on all costs incurred through internal and external business operations, ensuring that they comply with the drawn budgets.


  • Creates an effective control mechanism to ensure that the disbursal process is carried in accordance with the approved terms and conditions.


  • Oversees implementation of Service Level Agreements (SLA’s) and quality standards to establish problem resolution expectations and timeframes.


  • Supervises the delivery of requested information to auditors and managers relationship with the auditors.


    Treasury and Investment


  • Creates a framework for cash management and investment management for ICIEC and directs the corporation’s cash flow management and ensures company cash flow is adequate to allow it to operate effectively.


  • Directs the Corporation's fund management and ensures that the corporation’s funds are utilized optimally and the bank outstanding is within the limits assigned.


  • Provides consultation to Senior Management on upper tier financial issues such as ideal capital structure, cash management practice, capital funding and investment strategy etc.


  • Recommends critical decisions about management of funds for ICIEC based on targets and budgets ensuring maintenance of required liquidity and monitoring the asset and liability position in line with the risk management and investment guidelines.


  • Directs and guides all investment activities in avenues such as deposits, bonds, structured investments, funds, etc. to ensure efficient management of ICIEC’s funds in compliance with the Investment Policy & Plan, the Corporate Governance and the Corporate’s strategic objectives.


  • Liaise with investment institutions, investment brokers, banks and financial institutions for investment purposes to achieve the stated goals and objectives in an efficient manner.


Field of Study

  • Finance and Investment

Academic Qualifications and Relevant Experience

Qualification Level

High School Diploma

Bachelor’s Degree

Master’s Degree




17-20 years

15 years

12 years


Prior experience in leading Finance, Treasury with deep technical experience in financial, investment and accounting operations from Financial Institutions with minimum of 7 years, preferably from the industry of the Insurance of investment, Export credit and trade finance.


Relevant certifications such as CPA / CA / CFA / CTB are mandatory