Chief Financial Officer (CFO)

Sifi

1- Group Financial Strategy & Governance

• Formulate and execute the group-wide financial strategy, integrating the objectives of the holding and all subsidiaries.
• Design the group capital and funding structure to optimize liquidity, equity, and intercompany financing.
• Oversee group-wide budgeting, forecasting, and financial planning aligned with business strategy.
• Establish a unified governance framework for all entities, ensuring compliance with SAMA s Financial Control Guidelines and corporate governance best practices for the Regulated FinTech Subsidiaries (SiFi).

2- Accounting, Financial Reporting & Consolidation

• Supervise preparation of standalone and consolidated financial statements (Holding + Subsidiaries) in accordance with IFRS.
• Oversee monthly, quarterly, and annual closings, ensuring accuracy and alignment between entities.
• Develop a centralized chart of accounts and reporting framework for uniformity across all companies.
• Ensure timely submission of consolidated financial reports to the Board, Audit Committee, investors, and regulators.
• Direct the implementation of ERP / Financial Systems Integration (Zoho One) across all business units.

3- External Audit & Assurance Management

• Act as the primary liaison with external auditors for group and subsidiary audits.
• Coordinate audit timetables, deliverables, and responses to management letters
• Ensure full compliance with audit and assurance requirements for SAMA-regulated entities
• Present audit findings and remediation plans to the Board Audit & Compliance Committee.
• Oversee the implementation of audit recommendations to strengthen financial integrity and control.

4- Taxation, Zakat, and Regulatory Filings (ZATCA & MOC)

• Ensure full compliance with ZATCA regulations regarding tax, zakat, and VAT.
• Review and approve all tax and zakat declarations, coordinating with external advisors.
• Oversee preparation and filing of Withholding Tax (WHT) and VAT returns for all group entities.
• Maintain accurate Zakat base computations in line with ZATCA Circulars and Unified Zakat Regulations.
• Ensure timely submission of statutory filings to the Ministry of Commerce for capital changes, board appointments, and financial statements.
• Implement effective tax risk management and transfer pricing documentation where applicable.

5- SAMA Regulatory Compliance & Reporting

• Ensure strict adherence to all SAMA regulations, including: Payment Services Provider (PSP) Regulations, Electronic Money Institution (EMI) Guidelines, Corporate Governance Rules for Financial Institutions, Funds Segregation Requirements, & Supervise daily bank reconciliations, monitoring settlement timelines (T+1).
• Supervise the monthly and quarterly regulatory reporting to SAMA (financial position, liquidity, and capital adequacy).
• Ensure daily reconciliation of e-money balances and customer liabilities with segregated settlement accounts.
• Coordinate all SAMA inspections, compliance responses, and audit verifications.
• Maintain updated documentation of licenses, capital requirements, and bank guarantees in line with SAMA s directives.

6- Treasury & Liquidity Management

• Manage all group and subsidiary cash positions, ensuring optimal liquidity and capital efficiency.
• Develop and enforce treasury policies, including cash pooling, payment authorization, and investment guidelines.
• Oversee banking operations, financing arrangements, and investments for both holding and operating entities.
• Ensure segregation of client funds as per SAMA rules, with appropriate bank confirmations and daily reports.

7- Settlements, Reconciliation & Network Relationships

• Lead the daily settlement and reconciliation operations with: MasterCard, Network International, Saudi Payments (Mada), Partner Banks
• Ensure complete alignment between customer liabilities, e-money balances, and aggregated settlement accounts.
• Monitor real-time reconciliation dashboards, ensuring variances are identified and resolved immediately.
• Implement automated reconciliation systems and continuous process improvement in coordination with IT and Operations.
• Validate network settlement files, GL postings, and fund movements for accuracy and compliance.
• Report reconciliation and settlement KPIs (e.g., accuracy, latency, and variance ratio) to management and regulators.

8- Profitability Management & Unit Economics

• Develop and maintain a comprehensive profitability framework covering all business units and products.
• Monitor gross margins by revenue stream, per card, per user, and per transaction, identifying key drivers of performance and cost efficiency.
• Analyze contribution margins across products and customer segments to assess unit-level profitability and inform pricing decisions.
• Lead initiatives to reduce cost-to-serve through process automation, vendor negotiations, and operating efficiency.
• Provide regular profitability dashboards and insights to Management and the Board to support data-driven decision-making and long-term financial sustainability.