Senior Director Business Finance

Job Objective:

To lead the development and implementation of stc Bahrain’s Business Financial plan, ensuring accurate data and analyses are developed to guide senior management’s decision making and achieve a strong financial position.

Key Responsibilities/Duties:

Strategic Contribution

• Lead the development of stc’s Business Finance strategy and oversee its implementation by performing and delegating related activities.

• Translate and cascade the corporate strategy into functional business plans and oversee its execution to provide required support to stc Bahrain’s operations.

• Guide the preparation and monitoring of the Business Finance department’s business plans and annual budget, in line with the company’s objectives.

• Control expenditure against approved divisional budget on a regular basis and investigate and reconcile any significant variances to ensure effective cost control.  

Financial Planning and Reporting

• Direct the development of budgeting plans, guidelines, timetables, and templates and ensure proper dissemination of all supporting budgeting materials to internal departments and divisions in order to support efficient budget development.

• Lead the development of long-term and short-term revenue and cost financial plans to ensure alignment with the overall market evolution and strategic objectives of stc Bahrain. 

• Oversee individual BUs’ reported revenue and cost details to ensure accuracy of reports at granular level based on actual performance and challenge reports if/when needed.

• Guide the development of variance analysis reports to ensure the identification and analysis of any discrepancies between forecasted and actual cost.

• Lead the development of contingency plans and/or safety reserves used to ensure that unexpected drops in funding level (e.g. economic recession, force majeure, etc.) can be mitigated. 

• Oversee negotiation activities and alignment with BUs, technical functions, and support functions, to ensure accuracy of estimated expenditure requirements and develop and finalize related budget plans, ensuring required allocations cover one fiscal year only.

• Ensure the provision of all the requested details and reports to External Auditors, Internal Audit, and Government Audit in a timely manner and follow up on any concerns.

Financial Performance

• Monitor the organization’s financial position (e.g. cash on hand, projected cash flow, etc.) and metrics (e.g., NPV, ROI), to ensure accuracy of financial advice to relevant stc sectors. 

• Direct deep-dives and liaise with the Strategy & Governance team as required to ensure necessary support for senior management financial decision making.

• Provide pricing support to BUs, as needed, and lead the review of new products’ profitability, incentives and commissions profitability, promotional initiatives and loyalty programs developed by BUs to assess their financial impact on stc and provide recommendations where needed.

• Direct the support provided for the Procurement team to ensure the selection of the most suitable payment in terms and conditions in contracts and purchase orders.

People Management

• Provide effective leadership across the Business Finance department, by setting individual objectives, reviewing performance, developing, and motivating employees in line with the company’s policies, culture and work ethics, to unleash their potential and maximize performance at individual and functional level. 

• Coordinate the activities of the team to ensure that all work is carried out efficiently, in line with the annual business plans, policies and procedures. 

• Approve the workforce plan and oversee staff hiring, performance management and training activities to attract, develop and retain talent for the Business Finance department.

Change Management and Continuous Improvement

• Lead the identification of opportunities for continuous improvement of the department’s systems, processes, and practices considering international best practices, improvement of business processes and cost optimization.

• Approve department’s organization change plans with a focus on leading strategic innovation by developing new solutions or improving existing ones to drive change, meet future digitalization needs and support the company's growth. 

• Research relevant regional and global market trends to stay up to date with best practices and drive relevant initiatives for improvements.

Reporting and Compliance

• Ensure that all divisional reports are prepared timely and accurately and meet stc Bahrain’s organizational requirements, in adherence to the company’s policies and quality standards.

• Participate in various relevant committees and present annual and periodic reports, contributing to speedy and high-quality decision making.

• Ensure compliance to all policies and procedures, as well as to controls related to quality, health, safety, environmental management, guaranteeing employee and assets safety and legislative compliance.

Academic/Other Qualifications & Experience:

Minimum requirements:

• Bachelor’s degree in Business/Finance/Accounting, or any other relevant field 

• Proficiency in English language

Preferred:

• Master’s degree in Business/Finance/Accounting or any other relevant field or MBA

• ACCA, CAM or any other relevant certificate

• Proficiency in Arabic language