Project Accountant

About the Role

BEC Arabia, a prominent leader in construction, infrastructure, and engineering, is recruiting experienced Project Accountants to join their Finance team in Riyadh. This role involves managing the financial aspects of major construction and infrastructure projects while ensuring full compliance with Saudi regulations and corporate policies. Project Accountants will work closely with project managers, procurement, and senior finance teams to oversee budgeting, cost tracking, and detailed financial reporting to support timely and cost-effective project delivery.

This position offers the chance to engage with transformative initiatives such as NEOM, Diriyah Gate, and other projects aligned with Saudi Vision 2030. Successful candidates will apply their expertise in financial analysis, cost oversight, and regulatory standards to help BEC Arabia provide exceptional infrastructure solutions. The role provides significant career advancement potential in the construction finance domain.

Key Responsibilities

• Create and monitor project budgets aligning them with financial goals and project schedules.
• Analyze project expenditures to identify deviations and propose corrective measures to maintain cost control.
• Prepare comprehensive financial reports for internal stakeholders and external clients, ensuring accuracy and adherence to Saudi regulations.
• Work alongside project managers to forecast cash flow needs and manage financial funding requests effectively.
• Ensure compliance with Saudi Labor Law, GOSI requirements, and other relevant financial regulations concerning project accounting.
• Reconcile accounts related to projects and facilitate the timely closure of financial records once projects conclude.
• Manage project-specific accounts payable and receivable to guarantee prompt invoicing and payments.
• Support audit processes by compiling necessary documentation and addressing audit queries related to project finances.
• Implement financial control measures to mitigate risk and ensure adherence to company policies.
• Use financial software such as SAP or Oracle to streamline accounting operations and improve reporting accuracy.

Required Qualifications

• Bachelor’s degree in Accounting, Finance, or related disciplines.
• At least five years’ experience in project accounting, preferably in construction or engineering industries.
• Proficient with financial ERP systems like SAP or Oracle.
• Strong familiarity with Saudi Labor Law, GOSI regulations, and project-specific accounting requirements.
• Proven skills in budgeting, cost monitoring, and financial reporting.
• Excellent analytical capacities and meticulous attention to detail.
• Effective communication skills for working with project teams and stakeholders.

Preferred Qualifications

• Professional accounting certification such as CPA or an equivalent credential.
• Hands-on experience with mega-projects under Saudi Vision 2030.
• Knowledge of construction management tools like Primavera P6.
• Understanding of IFRS standards as applied in construction.
• Advanced Microsoft Excel capabilities, including macros and pivot tables.

Working Conditions

• The position is based at the office in Riyadh with occasional site visits as necessary.
• Standard working hours apply, with flexibility for extended hours during critical project phases.
• Work is conducted in a collaborative multinational team environment.
• Compliance with safety protocols is required during site visits.
• Limited travel outside Riyadh may be required for meetings or audit activities.

Benefits

• Competitive remuneration package including housing and transportation allowances.
• Opportunities for career progression and professional development within a top construction firm.
• Exposure to iconic mega-projects influencing Saudi Arabia’s future.
• Strong focus on employee safety and well-being.
• Access to training and certification programs to enhance professional growth.
• An inclusive, diverse workplace promoting collaboration and innovation.

Required Skills

SAP, Oracle, Budgeting, Cost Control, Financial Reporting, GOSI Compliance, Saudi Labor Law, ERP Systems.

Preferred Skills

CPA Certification, Primavera P6, IFRS Standards, Advanced Excel, Mega-Project Experience.