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Chief Financial Officer

Employer
Spencer Stuart
Location
Saudi Arabia (SA)
Salary
TBD
Date posted
Sep 5, 2023

View more

Position Type
Administrative, Executive
Employment Level
Executive
Employment Type
Full Time

King Abdullah University of Science & Technology (KAUST) Chief Financial Officer

Nearly 15 years on, an unrelenting commitment to research, innovation and talent has seen KAUST establish itself as one of the leading research universities in the world, ranking #1 for citations per faculty globally, with a reputation for impact-driven research that contributes to the betterment of the world. KAUST has solidified its place as one of the topranked research universities in the world, and this has been achieved through a commitment to impact, which sits at the heart of the research, to deliver tangible contributions to both Saudi Arabia and the betterment of the world. This is evidenced by the prominent role KAUST played in the Saudi hosted G20 and S20, and KAUST’s work with the Ministry of Energy and the National Circular Carbon Program, the MEWA-led Coral Research and Development Accelerator Platform, the Saudi Green Initiative, and much more.

Since KAUSTs inception, a lot has changed for the campus, society, and the Kingdom, which is diversifying its economy and becoming a beacon for innovation under Vision 2030 and the 2022 Research, Development, and Innovation (RDI) priorities, which will unlock an ambitious annual investment equivalent to 2.5% of KSA’s GDP in 2040.

The Chief Financial Officer (CFO) is responsible for directing and overseeing the overall financial needs of KAUST, and leads developing and implementing financial, budgetary and performance management frameworks spanning the University. The CFO is responsible for advising and assisting the KAUST President and sector heads in the development of their financial plans and economic models. The CFO also oversees the Procurement & Supply chain function.

The CFO oversees the fiscal programs for the University and the assists Management in developing the annual Financial Operations Plan and Budget for approval by the Board of Trustees. The CFO periodically submits performance, accountability and other reports to the Board of Trustees and the Board Audit and Investment Committees. 

Key Responsibilities

  • Provides professional advice and support on all aspects of Finance matters, in particular on planning, resourcing, financial management, investment and performance, and risk management.
  • KAUST is undergoing a strategic reorientation, the CFO will be managing the budgeting and implementation of this plan.
  • Develops tools and systems to provide critical financial and operational information.
  • Leads the development and review of the University's Financial Operations Plan and Budget in a framework that promotes fiscal responsibility and accountability for the deployment and use of funds.
  • Establishes and maintains financial policies, systems, and processes that promote fiscal responsibility and accountability, and that support the provision of timely and effective services to the University.
  • Directs and facilitates the preparation and maintenance of appropriate financial records, and oversees the preparation of monthly, quarterly, and annual financial reports.
  • Provides appropriate oversight and management of the University's assets and liabilities.
  • Presents reports, submissions, and recommendations to the KAUST Board and to the University's senior leadership.
  • Facilitates the preparation of the University's Annual Financial Statements and Balance Sheet, including liaison with external and internal auditors to review the accounts and the systems of internal control maintained by the University.
  • Leads, mentors, and directs immediate reports and works with them to establish an effective Financial Services team.
  • Oversees the strategic direction of Procurement Services for both KAUST and the Kingdom to ensure a procurement strategy that will deliver significant impact for KAUST and the Kingdom.

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