Head of Finance I KSA I Financial Services I Orient Insurance PJSC

Job Requisition ID: 177135 

Established in the 1930s as a trading business, Al-Futtaim Group today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United Arab Emirates. Structured into five operating divisions; automotive, financial services, real estate, retail and healthcare; employing more than 35,000 employees across more than 20 countries in the Middle East, Asia and Africa, Al-Futtaim Group partners with over 200 of the world's most admired and innovative brands. Al-Futtaim Group’s entrepreneurship and relentless customer focus enables the organization to continue to grow and expand; responding to the changing needs of our customers within the societies in which we operate. 

By upholding our values of respect, excellence, collaboration and integrity; Al-Futtaim Group continues to enrich the lives and aspirations of our customers each and every day

Job Description:

The Head of Finance is responsible for overseeing the financial strategy, planning, reporting, and control functions of the organization. The role ensures financial integrity, regulatory compliance, and effective management of financial risks, while supporting business growth within the Saudi insurance sector.

What you will do 

1. Financial Strategy & Leadership

• Develop and implement the company’s financial strategy aligned with overall business objectives.
• Provide strategic financial insights to senior management and the Board.
• Lead and manage the finance team, ensuring high performance and capability development.

2. Financial Planning & Analysis (FP&A)

• Oversee budgeting, forecasting, and financial planning processes.
• Analyze financial performance and provide recommendations for improvement.
• Support business units with financial insights and cost optimization strategies.

3. Financial Reporting

• Ensure accurate and timely preparation of financial statements in accordance with IFRS and local regulations.
• Oversee monthly, quarterly, and annual financial reporting.
• Present financial results to senior management and the Board.

4. Regulatory Compliance

• Ensure compliance with financial regulations issued by Saudi Central Bank and other relevant authorities.
• Oversee regulatory reporting and filings.
• Ensure adherence to insurance-specific financial requirements.

5. Treasury & Cash Management

• Manage cash flow, liquidity, and banking relationships.
• Oversee investment activities in line with regulatory requirements and company policies.
• Optimize capital structure and funding strategies.

6. Internal Controls & Governance

• Establish and maintain strong financial controls and governance frameworks.
• Work closely with internal and external auditors.
• Ensure compliance with internal policies and procedures.

7. Insurance Finance Operations

• Oversee premium accounting, claims payments, and reinsurance accounting.
• Ensure proper financial treatment of underwriting and claims activities.
• Collaborate with actuarial teams on reserves and financial assumptions.

8. Tax & Zakat

• Ensure compliance with tax and Zakat regulations in Saudi Arabia.
• Manage relationships with tax authorities and advisors.
• Oversee timely filing and payments.

9. Systems & Process Improvement

• Enhance financial systems, reporting tools, and automation processes.
• Drive efficiency and accuracy in finance operations.

Required Skills to be successful 

• Bachelor’s degree in Finance, Accounting, or related field (Master’s preferred).
• Professional certifications such as CPA, SOCPA, ACCA, or CFA are highly preferred.
• Minimum 10+ years of experience in finance, with significant experience in the insurance industry.
• At least 5 years in a leadership role within Saudi Arabia.
• Strong knowledge of insurance finance, IFRS standards, and regulatory reporting.

What equips you for the role

• Strong financial and analytical skills.
• In-depth knowledge of insurance accounting and reporting.
• Leadership and team management abilities.
• Strategic thinking and business acumen.
• High level of integrity and attention to detail.
• Strong communication and presentation skills.

Key Relationships

• Board of Directors
• Audit Committee
• Executive Management
• Internal & External Auditors
• Actuarial Department
• Regulatory Authorities (e.g., Saudi Central Bank)

Performance Indicators (KPIs)

• Accuracy and timeliness of financial reporting
• Budget vs. actual performance
• Cash flow and liquidity management
• Compliance with regulatory requirements
• Effectiveness of internal controls
• Cost efficiency and profitability metrics

About Orient Insurance PJSC

Orient Insurance Company commenced operations in 1982 as a part of the reputed Al-Futtaim Group and has since recorded a progressively steady growth. The Company is counted among the leaders in the UAE insurance market. Orient Insurance Company has a paid-up capital of AED 500 million which is the highest in the insurance industry in UAE. With head office in Dubai, the company serves its clientele through an extensive branch network in Jebel Ali, Abu Dhabi, Al Ain, Sharjah and Ras Al Khaimah in UAE, Muscat in Sultanate of Oman, Riyadh in Kingdom of Saudi Arabia and Bahrain.