Payables Manager

About OSUS:

Our journey began in 2006 in the city of Riyadh, driven by an ambitious vision to lead the next generation of commercial, residential, and mixed-use real estate projects. Since then, we have continued to establish our presence as a developer redefining the concept of real estate development through projects rooted in integration, innovation, thoughtful design, and modern technological solutions that elevate the end-user experience, whether individuals or businesses. We believe that mixed-use developments represent the future of urban planning. Guided by this vision, we create projects that merge urban functions into a single space, reshaping daily life in a more efficient and flexible way. We design vibrant destinations where living and working intersect, and where commercial and entertainment facilities harmonize within an integrated environment, fulfilling individual aspirations and supporting the growth of modern communities. At OSUS, we continue to build on this approach, inspired by Saudi Arabia’s Vision 2030 and committed to developing real estate solutions that elevate the urban landscape, meet the ambitions of individuals and investors, and align with the evolving nature of cities and future lifestyles.

Job Summary:

The Payables Manager is a pivotal and practical position, responsible for executing the company's financial strategy by managing all payments activities to ensure that payments and disbursements are recorded and followed up efficiently and effectively while adhering to the company's financial policies and procedures.

He will be responsible for creating and implementing clear Payables management objectives for financial management and team members to develop actionable business plans and objectives.

In addition to maintaining proper cost centers for projects, departments, and assets, which to be reflected on the ERP system.

Responsibilities are not limited to:

Managing daily operations:

• Review and approve invoices before issuing payments.
• Follow up on the payment schedule and ensure that obligations are paid on time.
• Support Monthly and Annual Close Processes, ensure all required accounting transactions are booked properly at the end of each period, and perform period-end account closing activities and reconciliations
• Assist in preparing revenue models in line with applicable IFRS and recording appropriate entries.
• Managing external and internal audits process and reports
• Adhere to IFRS accounting standards and company procedures

Analysis of financial statements:

• Prepare periodic reports related to payments and cash outflows and submit reports on the company's future financial obligations, and providing concise explanations on trends and variances.
• Prepare periodic reports showing the movement of CAPEX cost related to each project.
• Analyze financial trends to identify any deviations or delays in payment.
• Assist in preparation of annual Budget, Forecasts and Business plans (standalone & consolidated)
• Perform ad hoc financial analysis as requested by management

Coordination with other departments:

• Work with the various departments of the company to ensure the validity of outgoing payments.
• Coordinate with suppliers to settle any financial disputes and work with the Procurement Department to review and audit invoices before payment.
• Coordinate with other departments to obtain accrued expenses for month end closing procedures.

Compliance with policies and procedures:

• Ensure that financial policies and procedures for payments are applied.
• Suggest improvements to payment processes to reduce costs and improve efficiency.

Update the ERP System

• Create and implement proper and sufficient cost centers on the ERP system for all projects, departments, and assets.
• Ensure that all transactions are reflected on the ERP system in a timely manner.

Supervise daily payments:

• Provide the necessary documents and information for financial audits.
• Relying on the trends identified in providing suggestions and recommendations that will improve the company's performance.
• Perform any other tasks assigned to him by the line manager within the scope of work.

Qualifications:

• Bachelor's or Master of Financial Accounting, Business Administration or Economics
• 10-12 years of relevant experience
• Previous experience with a contracting company and real estate development companies is preferred.
• Practitioner and advanced experience in Excel, Microsoft Office Power PI
• Excellent skills in using ERP and accounting software
• Experience in preparing and submitting analytical financial reports and scheduling outputs.
• Has a high ability in reading, analysis and financial planning
• The ability to work accurately and independently
• Excellent verbal and written communication skills.
• Communicate effectively in both English.