Job Purpose
The Commercial Financial Controller will oversee and manage financial planning, budgeting, cost accounting, financial reporting, and inventory control activities across factory operations.
The role is responsible for ensuring accurate product costing, effective cost allocation, efficient resource utilization, and compliance with applicable accounting standards and internal financial controls.
The successful candidate will provide financial insights, monitor production expenses, evaluate profitability, and recommend cost optimization measures to improve factory performance and support the company’s financial objectives.
Key Responsibilities
1. Budget Planning and Financial Control
Manage factory budgets, financial accounts, and operational financial activities across production units.
Coordinate the preparation of annual operating budgets and long-term capital expenditure plans.
Ensure financial plans are aligned with production targets, operational requirements, and business objectives.
Monitor budget utilization and control factory expenses to maintain financial discipline.
Review financial performance against approved budgets and identify significant deviations.
Ensure financial information meets internal management reporting requirements and applicable statutory and regulatory obligations.
2. Product Costing and Inventory Management
Oversee product costing activities, including bill of materials (BOM), production costs, and cost allocation.
Work closely with production and procurement teams to review material costs and investigate production cost variances.
Ensure accurate valuation of raw materials, work-in-progress (WIP), and finished goods inventory.
Monitor inventory movements and maintain accurate financial records.
Establish and review cost center allocations, manufacturing overhead distribution, and internal transfer pricing.
Identify opportunities to improve costing accuracy and inventory control.
Analyze material consumption and production expenses to support cost optimization.
3. Fixed Asset and Capital Expenditure Management
Manage factory fixed asset records, including asset registration, tagging, depreciation, and financial reporting.
Monitor capital expenditure (CAPEX) across factory operations.
Ensure appropriate classification of capital expenditure and operational expenditure (OPEX).
Apply suitable depreciation methods based on asset categories, useful life, and usage.
Review asset records and ensure accurate financial treatment of factory equipment and infrastructure.
Support capital investment evaluations and monitor expenditure against approved budgets.
4. Financial Forecasting and Profitability Analysis
Support financial forecasting by analyzing production capacity, market demand, and material cost movements.
Conduct profitability assessments across product lines, departments, and manufacturing processes.
Analyze actual financial performance against budgeted and forecasted figures.
Perform financial variance analysis to identify cost trends, operational inefficiencies, and improvement opportunities.
Evaluate product margins and recommend measures to improve profitability.
Provide financial recommendations to support production planning and management decisions.
5. Manufacturing Cost Control and Optimization
Monitor manufacturing costs and production efficiency against approved budgets and key performance indicators (KPIs).
Identify unfavorable cost variations and recommend corrective actions.
Analyze material, labor, and manufacturing overhead expenses.
Work with production and procurement departments to identify cost-saving opportunities.
Evaluate resource utilization and recommend improvements to reduce operational expenses.
Support management initiatives aimed at improving factory productivity and financial performance.
6. Financial Reporting, Accounting and Compliance
Prepare and review periodic factory financial reports and management accounts.
Develop cost reports covering production expenses, inventory movements, manufacturing overheads, and operational efficiency.
Ensure financial statements and reports are accurate, complete, and delivered within reporting deadlines.
Maintain compliance with applicable accounting standards, financial policies, and internal control procedures.
Supervise year-end financial closing activities and support the preparation of final accounts.
Review financial variances and provide management with relevant explanations and recommendations.
Maintain proper financial documentation and support internal and external audit requirements.
Role Accountability and Management Responsibilities
1. Leadership and Human Resources Management
Recruit, develop, motivate, and retain high-performing finance and accounting professionals.
Identify talented employees and develop their capabilities to strengthen the department’s management succession pipeline.
Recognize performance issues and provide appropriate coaching and improvement plans.
Ensure fair and equal treatment of all employees.
Evaluate team performance based on measurable objectives and business results.
Maintain an effective delegation of authority framework in accordance with company policies.
2. Operational Responsibility and Decision-Making
Take full responsibility for assigned financial operations and departmental deliverables.
Ensure all financial activities comply with company policies, accounting procedures, and management guidelines.
Anticipate financial and operational challenges and implement preventive measures.
Make timely and effective decisions to maintain financial control and operational efficiency.
3. Performance Management and Delivery
Deliver financial objectives within agreed timelines, quality standards, and approved budgets.
Ensure effective execution of financial plans and operational targets.
Monitor financial performance and identify areas requiring corrective action.
Prepare periodic financial progress reports and performance updates.
Ensure efficient utilization of financial and operational resources.
Drive continuous improvement in financial performance and cost efficiency.
4. Business Planning and Financial Performance
Translate corporate financial objectives into departmental budgets and business plans.
Coordinate annual financial planning, budgeting, and development initiatives.
Monitor actual performance against financial targets and approved plans.
Identify financial deviations and recommend appropriate corrective measures.
Control budgets, operating expenses, and capital expenditure to achieve optimal cost efficiency.
5. Organizational Development
Develop the departmental organizational structure based on current operational requirements and future business needs.
Ensure clear job descriptions, responsibilities, and reporting structures are established.
Support workforce planning and effective deployment of finance personnel.
Strengthen employee capabilities through professional development and performance management.
6. Business Process Improvement and Digitalization
Develop and maintain effective financial policies, procedures, and internal control systems.
Identify opportunities to automate financial reporting, budgeting, costing, and accounting processes.
Utilize relevant financial systems and IT solutions to improve reporting accuracy and operational efficiency.
Promote the effective use of automated financial systems and continuous process improvement.
7. Quality Management
Maintain high-quality standards across all financial and accounting activities.
Ensure financial reports, costing procedures, and internal controls meet company requirements.
Promote quality and accuracy as essential elements of financial management and business performance.
8. Adaptability and Innovation
Adapt to changing financial regulations, accounting standards, technologies, and business requirements.
Implement improved financial management practices and cost-control techniques.
Support organizational development through innovation and continuous improvement.
9. Health, Safety and Environmental Compliance
Ensure financial and administrative activities support a safe, secure, and legally compliant working environment.
Follow applicable health, safety, and environmental policies and procedures.
Support compliance with relevant workplace safety standards and company regulations.
Job Requirements and Qualifications
Academic Qualification
Bachelor’s degree in Accounting, Finance, or a relevant discipline.
Additional professional qualifications in accounting or financial management may be advantageous.
Work Experience
6–10 years of relevant professional experience.
Experience in financial controlling, cost accounting, budgeting, and financial reporting.
Strong understanding of manufacturing finance and factory cost management.
Experience in inventory valuation, product costing, and financial variance analysis.
Knowledge of fixed asset accounting, CAPEX management, and profitability analysis.
Experience coordinating with production, procurement, and operational teams.
Technical and Functional Competencies
Accounting Theory and Concepts
Financial Analysis
Financial Reporting
Cost Control and Cost Accounting
Budgeting and Financial Planning
Manufacturing Cost Management
Product Costing and Bill of Materials (BOM)
Inventory Valuation and Control
Fixed Asset Management
Capital Expenditure (CAPEX) Analysis
Financial Forecasting
Profitability and Variance Analysis
Management Accounting
Internal Financial Controls
Accounting Standards and Compliance
Business Process Improvement
About alfanar
alfanar is a leading Saudi Arabian business group specializing in electrical manufacturing, engineering, construction, energy, and infrastructure solutions. The company focuses on quality, innovation, advanced technologies, and sustainable development.