المدير المالي (CFO)

Company Description

The Golden Compass is an independent international Consulting, Drilling, and Services practice providing focused advice and solutions, and services contracting to the earth resource industry. For exploration and mining

projects, we offer services from exploration to mine closure. The Golden Compass established in 2015, our employs more than 250 professionals internationally in over 3 offices on 3 continents

Key Responsibilities

Strategy, Planning & Performance

• Lead the annual budget and five-year business plan with the CEO for EXCOM review and Board approval.
• Run rolling forecasts: 13-week cash, 12-month P&L and cash, and a 36-month three-statement model.
• Deliver the monthly management pack, including P&L by rig and contract, budget vs. actual, cash, receivables ageing, and commentary.
• Build rig-level economics, including utilisation, metres drilled, revenue, and margin per rig, and provide weekly KPIs.
• Evaluate fleet capital expenditure, rig purchases, and leasing decisions using investment cases and post-investment reviews.
• Financial Reporting & Close
• Own the month-end close calendar and complete the close within 10 working days.
• Prepare annual IFRS financial statements, as endorsed in KSA/SOCPA, and manage the external audit to sign within 100 days of year-end.
• Maintain accounting policies, including revenue recognition over time, ECL on receivables, IFRS 16 leases, and end-of-service obligations.
• Approve manual journal entries above the policy threshold, and all post-close, top-side, and related-party entries regardless of amount.
• Prepare quarterly reporting for the Board, Audit Committee, and shareholders under SHA information rights.
• Treasury, Cash & Funding
• Manage daily liquidity, bank accounts, and payment runs across several banks.
• Negotiate and administer bank facilities, letters of guarantee, and performance bonds; track and report covenant compliance.
• Bring any new borrowing outside the budget, and any guarantee or security, to the Board.
• Plan and execute the unwind of related-party balances on terms approved by the Board or shareholders as required.
• Oversee credit control and collections, with a target for days sales outstanding agreed with the Board.
• Tax, Zakat & Regulatory Compliance
• Clear VAT and withholding tax arrears through an agreed settlement plan with ZATCA, and keep all filings current thereafter.
• File zakat returns within 120 days of year-end and maintain the zakat certificate.
• Maintain a single compliance calendar for VAT, WHT, zakat, GOSI, e-invoicing (FATOORA), and Commercial Registration obligations.
• Advise on tax treatment of cross-border services, consultancy fees, and shareholder arrangements.
• Internal Control & Risk
• Design and operate the internal control framework, including segregation of duties, preparer-not-approver, and invoice approver-not-payment releaser.
• Maintain the finance thresholds in the Delegation of Authority (DoA) and keep Odoo approval rules aligned with them.
• Maintain the related-party register and route every related-party transaction for approval regardless of value.
• Support the Audit Committee and, once appointed, the Head of Internal Audit; close audit findings on time.
• Contribute to the enterprise risk register for financial, credit, liquidity, and fraud risks, including payment-fraud controls such as bank-detail change verification.
• Governance & Stakeholder Reporting
• Attend EXCOM and Audit Committee meetings and present finance papers; attend Board meetings when invited.
• Act as the main finance contact for all shareholders and their representatives.
• Recommend finance policies to the Audit Committee before Board approval.
• Act as the CEO’s alternate for payment approvals when the CEO is absent.
• Commercial Finance & Procurement
• Review bid pricing, contract terms, payment milestones, and claims with the Business Development Department.
• Co-approve procurement at the thresholds in the Procurement DoA and sit on the Procurement Committee.
• Control inventory and consumables costing, fixed-asset registers, and disposals.
• Systems, Data & People
• Own the finance configuration of Odoo 19 and integrations with ZenHR (payroll) and CorePlan (drilling operations).
• Lead the finance workstream of GCOS, the company’s policy and performance system, starting with month-end close.
• Recruit, develop, and appraise the finance team; set objectives and KPIs for direct reports.
• Support Saudization targets in the finance function under Nitaqat.
  
  

Qualifications

• Bachelor’s degree in Accounting or Finance.
• Professional qualification: SOCPA, CPA, ACCA, or CA. CMA or CFA is a plus.
• 10+ years in finance, including 3+ years as CFO, Finance Director, or Financial Controller of a company with revenue of SAR 50 million or more.
• 3+ years in Saudi Arabia, with hands-on VAT, WHT, zakat, and GOSI compliance experience and direct dealings with ZATCA.
• Experience in a contracting, project-based, or asset-heavy business: drilling, mining services, oilfield services, construction, or equipment rental.
• IFRS reporting and external audit management experience, including over-time revenue, IFRS 16, and ECL.
• Treasury and bank relationships experience, including working-capital facilities, guarantees, and covenants.
• Experience reporting to a Board and Audit Committee, ideally with private equity or institutional shareholders.
• Strong ERP skills; Odoo experience preferred.
• Fluent English; Arabic strongly preferred.
• Saudi National.
  
  

Preferred

• Experience in a post-investment transformation or turnaround.
• Experience building or rebuilding a finance function, including the close process, controls, policies, and team.
• Rig- or equipment-level costing and bid pricing experience.
• Knowledge of the Companies Law, Mining Investment Law, and Saudi Labour Law as they affect finance.
  
  

Skills

• Strategic planning, budgeting, forecasting, and performance management.
• Financial reporting, IFRS, month-end close, and audit management.
• Treasury, liquidity, cash flow, and working-capital management.
• Tax, zakat, regulatory compliance, and ZATCA dealings.
• Internal controls, risk management, and governance.
• Commercial finance, contract review, bid pricing, and procurement.
• ERP systems, especially Odoo, and finance system integrations.
• Leadership, team development, and communication with senior stakeholders.