Treasury, Tax & Compliance Director

ASMO is a groundbreaking joint venture between DHL and Aramco. Inheriting DHL’s logistics excellence and Aramco’s extensive supply chain ecosystem, we are here to set a new benchmark and redefine the procurement and supply chain landscape, enabling growth. ASMO aims to be operational in 2025 and provide reliable end-to-end integrated procurement and supply chain services for companies across the industrial, energy, chemical, and petrochemical sectors. Our focus customers in the short term will be Saudi Aramco and its Affiliates. In the long term, all the industrial sectors within Saudi Arabia aim to reach the MENA region.

Objective The role holder is responsible for overseeing treasury activities including cash flow management, banking relations, financial assets, supply chain financing, and capital planning including the risk mitigation of these operational activities in order to optimize ASMO’s liquidity and allow the organization to operate effectively in line with the business plan with little to no disruptions caused by financial operations conducted. The role holder also consolidates and manages factors that contribute to ASMO’s credit rating. In addition, the role is responsible for overseeing the tax operation and reporting activities both direct and indirect taxes. Moreover, the role holder is responsible to oversee the Internal Control System in ASMO ensuring financial compliance across all financial transactions and activities.

General Responsibilities

Develop and execute the Department’s long-term strategic plan in alignment with the corporate strategies.

Develop annual business plans for the Department and ensure the achievement of financial and strategic objectives.

Report to the Chief Financial Officer on the progress of activities against the annual business plans, opportunities, challenges and issues faced, mitigations taken, etc. as required, to make an informed decision.

Manage and continuously monitor the performance of the Department to ensure performance deviations are identified in a timely manner, and required resources and actions are implemented to meet performance targets.

Develop analysis framework and reports on AMSO’s cash position based on inputs from Accounts Receivables, Accounts Payables, Procurement, Supply Chain and other relevant functions.

Oversee development of rolling cash flow forecasts (e.g. on a monthly basis with weekly granularity, etc.), other Liquidity and Cash Management analyses (forecast variance, cost of borrowing, etc.).

Manage development of scenario and “what-if” analyses in the context of liquidity risks and the overall financing strategy.

Establish and maintain relationships with banks, manages bank account operations (opening / closing), manages transfer of funds between ASMO’s accounts.

Oversee payments to suppliers based on the approved payment orders received from the Investments & Commercial Controlling Department.

Manage foreign exchange position and risk and oversees foreign exchange transactions to mitigate potential risk associated with exposures to foreign currencies.

Ensure risks of large upfront investment or commitments are carefully monitored and minimized, negotiating lower interest rates with banks and lenders.

Develops short term (less than 1 year) investment portfolio strategies, e.g. negotiates, structures, executes and monitors cash investments to ensure optimal investing for surplus funds in compliance with the business plan.

Ensure year-on-year improvements of ASMO credit rating by rating organizations (e.g. Moody’s, Fitch, etc.) in order to secure lower cost lending and investments.

Develop and cooperate with internal departments to establish a Supply Chain Financing solutions that will be offered to ASMO’s customers.

Establish and maintain relationship with financials institutes, banks, and funds to available required capital for the supply chain financing solution.

Oversee VAT and WHT monthly returns preparation and reporting to ensure full compliance with ZATCA requirement.

Oversee Income Tax return preparation and reporting to ensure full compliance with ZATCA requirements.

Oversee the maintenance of ASMO’s Transfer Pricing Local file and the annul notification posting.

Manage relationship with tax advisors.

Oversee the Internal Control System implementation and assessment to ensure adequate controls are in place to mitigate any risks related to financial transactions.

Manage the performance of the department’s employees, define workforce requirements, ensure recruitment, training and development of talent, in conjunction with the Human Resources function to achieve business objectives.

Recommend an optimum organisation structure for the Treasury, Tax, and Compliance Department, in coordination with the Chief Finance Officer and the Human Resources Department, to ensure smooth workflow of operational processes and optimal utilisation of resources.

Prepare and recommend the Department’s budget in alignment to the respective annual business plan.

Monitor the Department’s financial performance against the approved budget, identify areas of unsatisfactory performance (if any), and recommend mitigating actions

Identify and manage implementation of change initiatives on systems, processes and practices considering ‘international leading practices’, and / or other changes in the business environment.

Manage the development and implementation of Departmental policies, systems, processes, and procedures to ensure operational excellence.

Identify and manage the implementation of improvements to ensure compliance with ASMO’s standards and regulatory requirements that are aligned to business needs to increase operational effectiveness.

Present regular and ad‑hoc management reports related to the function, provide recommendations to the CFO on new opportunities, highlight critical issues and challenges, and provide strategic insight to ensure effective decision‑making.

Qualifications

Bachelor’s degree in finance, Accounting, Economics or equivalent from a recognized and accredited university is required.

Master’s degree in Finance, Accounting, Economics, or equivalent from a recognized and accredited university is preferred.

CFA / CISI / ACCA preferred.

Demonstrated proficiency in oral and written English.

13 years’ experience in similar or related field, out of which 7 years at a managerial / leading position.

Treasury experience in procurement or logistics sectors preferred.

Experience in managing and improving financial credit rating score preferred.

Experience in managing tax operations.

Experience in Supply chain financing.

Experience in Internal Control Systems implementation and management.

Core Competency

Strong knowledge of financial markets and regulations.

Strong knowledge of risk management strategies.

Strong knowledge of financial instruments and banking services.

Strong knowledge of supply chain financing and taxes.

Proficiency in working capital management.

Proficiency in banking relations and investment management.

Proficiency in the use of Microsoft Office tools.

Leadership Competency

Strategic‑focus.

Interpersonal and Communication.

Motivation.

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