Senior Treasury Accountant

About Majd Yanbu Industrial Company

Majd Yanbu Industrial Company is a joint venture between Elsewedy Cables and Alfanar, developing a cutting-edge copper rod manufacturing plant with an annual capacity of 130,000 metric tons, located in Yanbu Industrial City. Commercial operations are expected to start in 2026.

Position Overview

We are seeking a Senior Treasury Accountant to oversee the daily cash management and banking activities as the company prepares for full-scale production. This role provides the unique chance to establish and lead the treasury operations within a newly established industrial firm.

Key Duties

• Oversee daily cash balances across SAR and USD accounts and generate ongoing cash flow projections.
• Process payments through corporate banking systems such as HSBCnet, SNB, and FAB, ensuring strict segregation of responsibilities.
• Manage bank account setups, authority matrices, signatory mandates, and complete KYC documentation.
• Handle execution, confirmation, and settlement of foreign exchange contracts including spot and forward deals, maintaining accurate registers.
• Administer copper hedging agreements effectively.
• Invest excess funds in fixed-term deposits while monitoring maturity dates, renewals, and yields.
• Compile monthly bank account reconciliations and record treasury journal entries within the ERP system.
• Manage trade finance operations including issuance and amendments of letters of credit and guarantees, and documentary collections by reviewing terms, tracking commissions and margins, and coordinating with banks and suppliers.
• Supervise usage of working capital lines and term loans, keeping track of covenants and reporting obligations.
• Assist with external auditing processes, IFRS compliance focusing on IAS 7, IAS 21, and IFRS 9, and maintain strong internal controls.

Candidate Requirements

• Bachelor's degree in Accounting or Finance; professional certifications such as SOCPA, CMA, ACCA, or CTP are advantageous.
• Between 4 to 10 years of relevant experience in corporate treasury or accounting within industrial, manufacturing, or trading sectors.
• Proficiency using Saudi corporate banking platforms and managing bank accounts and mandates.
• Familiarity with ERP systems related to bank reconciliation and treasury transactions.
• Knowledge of IFRS standards applicable to treasury functions.
• Fluent in Arabic and English languages.