Senior Associate – Treasury Middle Office

Job Description

NEOM is a new vision of what the future could be. It’s an attempt to do something that’s never been done before and it’s coming at a time when the world needs fresh thinking and new solutions. Put simply, NEOM will not only be a destination, but a home for people who dream big and who want to be part of building a new model for sustainable living.

To support this ambitious vision, the Associate will be:  

• Primarily responsible for all Middle Office responsibilities for Treasury. This will included but not be restricted to deposit and loan, derivatives and LC trade capture and verification, controls around bookings to ledger and settlements, risk and control reporting.
• Support Financial Control and Treasury teams in carrying out a range of tasks and responsibilities to ensure integrity and sound control of the NEOM financial reporting function and alignment with IFRS and SOX as NEOM business activity evolves.
• Have the ability to work on own initiative, prioritise and manage multiple issues simultaneously and with a high level of attention to detail.
• Have the ability to contribute as a member of a team, to work under pressure and to meet deadlines.

Responsibilities

• Ensure all Treasury transactions are captured in sub-ledger and GL systems
• Production of a Treasury P&L report
• Regular review of systems effectiveness and booking automation
• Production of risk and control reports pertaining to Treasury trade capture and P&L
• Prepare audit/control reports as required for internal and external audit or risk demands
• Positively lead and manage a small team of direct reports to cover all bank reconciliation requests and requirements – ensuring high performance, development, and engagement.
• Ensure timely review of high quality daily, weekly and monthly bank and balance sheet reconciliations as assigned for high volume of bank statements, across operations, revenue and payroll across portfolio of NEOM group.
• Review and approval of manual journals and clearing of bank transactions as appropriate to maintain clean SAP reporting and accounting ledgers, and a clear audit trail.
• Own end to end record to report monthly, quarterly and yearly closing activities in relation to NEOM Group bank accounts, for multiple entities/sectors.
• Ensure understanding and oversight of reconciling and aged items and ensure timely clearing and resolution of issues.
• Responsible for ensuring all intercompany transactions for assigned subsidiaries and sectors as it relates to bank transactions and transfers are captured in the accounting ledger.
• Responsible for approving SAP entries in relation to NEOM credit card transactions, and staff and government expenses as shared by the accounts payable team.
• Resolve bank transaction or bank statement issues to ensure GL code balances are reflecting accurate balances.
• Operate within the required SOX controls framework, completing assigned control procedures, and supporting with specified SOX activities.
• Liaise with and ensure positive working relationship with accounting, accounts payable, treasury, tax, and relevant business/subsidiary teams to inform of significant or unusual transactions, confirm accounting actions and keep up-to-date with new bank accounts.
• Responsible for addressing annual financial statement & audit related queries in relation to NEOM Group bank accounts.
• Lead and support with new system and system enhancement projects to drive automation of tasks and controls and reduce time and error.

Required Experience

• 3 or more years experience with large corporates or institutions
• Experience in banking middle office, corporate Treasury middle office or corporate Treasury; having experience in accounting or payables team is an advantage
• Experience working with KSA banks and bank reporting is an advantage.
• SAP experience is highly desired.
• Multi-currency experience a plus.
• Highly competent and trustworthy
• Good financial analysis skills,
• Strong communication skills, both written and verbal
• Proficiency in MS Office, particularly with MS Excel (intermediate level), MS Word, and MS PowerPoint
• Excellent problem-solving and analytical skills with great attention to detail.
• Highly motivated, organized, can work autonpmously and strong work ethic to achieve hard deadlines.
• Able to multi-task and prioritize in a fast-paced environment with last-minute deadline driven tasks.
• Strong communication and interpersonal skills across multiple levels and functions