Director of Financial Planning and Analysis

About Al Majed Oud

Al Majed Oud Company is a leading pioneer in the perfume industry within the region, with a rich history dating back to 1956. Founded by Sheikh Ali bin Othman Al-Majd, the company has established a significant presence in the wholesale oud and perfume trade, accumulating over 60 years of expertise. Al Majed Oud Company has expanded its reach across the Gulf market, operating approximately 300 sales platforms in Saudi Arabia, Kuwait, UAE, Bahrain, Oman, and Qatar, and is known for creating innovative aromatic lines.

About the Role

Al Majed Oud is seeking a seasoned Director of Financial Planning and Analysis (FP&A) to oversee its financial strategy and operations in Riyadh, Saudi Arabia. This pivotal role involves leading critical financial processes, providing strategic insights, and partnering with various departments to drive informed decision-making and enhance profitability. The Director will be instrumental in shaping the company's financial future, ensuring robust planning, accurate analysis, and effective cost management.

Key Responsibilities

• Spearhead the annual budgeting cycle, rolling forecasts, and long-term financial projections.
• Utilize and manage financial planning systems such as Anaplan, Jedox, Oracle EPM, or SAP BPC.
• Conduct detailed variance analyses comparing actual performance against budgets and forecasts, offering actionable business insights and recommendations.
• Oversee comprehensive analysis of revenue, gross margin, operating expenses (OPEX), capital expenditures (CAPEX), working capital, and cash flow.
• Take ownership of product costing, including analysis of raw material, production, labor, overhead allocation, landed costs, and cost drivers.
• Review and validate Bill of Materials (BOM), routing information, product master data, costing assumptions, and Enterprise Resource Planning (ERP) costing configurations.
• Analyze standard versus actual cost variances and propose strategies for cost efficiency improvements.
• Lead pricing strategies, margin simulations, discount impact assessments, promotional profitability, and product profitability studies.
• Support management in strategic pricing decisions by integrating cost data, margin targets, market positioning, product mix, and overall profitability goals.
• Review inventory valuation, stock aging, identification of slow-moving items, Cost of Goods Sold (COGS), and related provisions.
• Develop detailed profitability analyses segmented by product, category, sales channel, branch/store, customer demographic, and business unit.
• Create and maintain financial dashboards, Key Performance Indicators (KPIs), executive reports, and performance review packages.
• Provide financial support for business cases, feasibility studies, new strategic initiatives, expansion plans, and investment evaluations.
• Collaborate closely with Commercial, Operations, Manufacturing, Supply Chain, Procurement, Accounting, and Executive Management teams.
• Enhance forecasting accuracy, improve cost visibility, reinforce pricing discipline, and promote data-driven decision-making across the organization.

Required Qualifications and Skills

• Extensive experience in Financial Planning & Analysis (FP&A).
• Proven track record in budgeting, forecasting, and long-range financial planning.
• Strong expertise in cost accounting, product costing, and manufacturing cost analysis.
• Proficiency in pricing analysis, margin analysis, and profitability management.
• Experience with standard versus actual cost variance analysis.
• Solid understanding of BOM review, routing, inventory valuation, COGS, and cost-driver analysis.
• Demonstrated ability in business partnering and supporting strategic decision-making.
• Skilled in management reporting and presenting to executive leadership.
• Proficiency in financial modeling, scenario analysis, and developing business cases.
• Experience with FP&A systems like Anaplan, Jedox, Oracle EPM, or SAP BPC.
• Familiarity with ERP systems such as SAP, Oracle, or Microsoft Dynamics.
• Advanced proficiency in Excel, Power BI, dashboard creation, and data analytics.
• Deep understanding of the interdependencies between costing, pricing, inventory, general ledger, and financial reporting.
• Strong team leadership, stakeholder management, and cross-functional collaboration abilities.

Preferred Experience

• Experience within retail, manufacturing, Fast-Moving Consumer Goods (FMCG), perfume, cosmetics, consumer goods, or other product-centric industries is highly advantageous.

Professional Certifications

• Relevant professional certifications such as CMA, FPAC, CGMA/CIMA, Anaplan/Jedox certification, FMVA, or an MBA are preferred.