To define the financial strategy of the company and to manage and lead the short, medium and long term financial planning and budgeting processes by forecasting and monitoring the financial performances of different areas / departments and the capital expenditures of the company in order to achieve overall objectives of SAUDIA and ensure the profitability of the company.
Strategy Formation and Implementation
- Participate in the development and refinement of Air Transport’s division strategy in line with the SBU vision and strategy and contribute to the overall process of corporate management and decision making to ensure the organization maximizes its short-, medium- and long-term profitability and returns to its shareholders.
Leadership and Direction
- Provide overall direction for the effective achievement of the division objectives through effective leadership and by setting of individual objectives, managing performance, developing, and motivating team to maximize performance.
- Collaborate with the colleagues in the Executive Leadership community, to synergize efforts across Air Transport for the successful achievement of strategic objectives.
Organization Structure
- Together with Holding’s human capital function and Head of Division provide inputs in order to design an optimum organization structure and direct the development of the Division structures so that resources are optimally utilized, and communication can take place in an efficient manner.
Budgeting and Financial Performance
- Direct the preparation and consolidation of the Division’s budget and monitor financial performance versus the budget so that the business is aware of anticipated costs/revenues; areas of unsatisfactory performance are identified, and potential performance improvement opportunities are capitalized upon.
Policies, Systems, Processes & Procedures
- Direct the development and oversee the implementation of division policies, systems, processes, procedures, and controls covering all areas of function so that all relevant procedural/legislative requirements are fulfilled while delivering a quality, cost-effective service in a consistent manner.
Financial Planning & Budgeting
- Defines the financial strategy of the company and manages and leads the short, medium and long term financial planning process by developing forecasts and monitoring the financial performances of different areas / departments
- Leads and coordinates the preparation of SAUDIA budget and ensures the financial and budgeting department support all areas and monitors their budget performance during the year, identifying possible needs and/or areas of improvement
CapEx Planning & Monitoring
- Leads the definition of a core CAPEX expenditure strategy to ensure SAUDIA meets the demand of forecasts in the short, medium and long term and the growth is aligned with the business objectives.
- Oversees capital expenditure and the provisions and management of the its budgets to ensure being in line with business needs of SAUDIA and their financial objectives
Profitability Analysis & Reporting
- Leads the development of forecast on different time scale basis and communicates it to senior management to determine profitability of new investments and routes
- Leads the definition of profitability analysis to come up with revenue and cost optimization initiatives to assess the ability of SAUDIA to generate earnings
- Reviews all financial and profitability reports for accuracy and in order to ensure that they conform with relevant principles of corporate governance and that they meet company and function requirements as well as policies and standards
- Conduct route and network profitability analysis and identify improvement opportunities
- Conduct analysis of distribution channel profitability and identify improvement opportunities
Cost Analysis
- Reviews all division reports for accuracy to ensure that they conform with company and department requirements, policies and standards
Minimum Qualification
- Bachelor's Degree in Business Administration/ Public Administration/Industrial Management/ Statistics/ Industrial Engineering/ Economics/ Accounting/ Finance/ a specialization related to Finance & Accounting
Minimum Experience
- Minimum 10 years of experience.
