Chief Accountant

The Red Palace

A symbol of Saudi Arabia’s heritage, The Red Palace stands as an extraordinary landmark in Riyadh, now reimagined as an ultra-luxury boutique hotel. Originally built in 1943, this historic Palace has been transformed into a masterpiece of refined hospitality, blending timeless elegance with contemporary sophistication.

Nestled in the heart of the capital, The Red Palace offers an exclusive glimpse into the Kingdom’s storied past, featuring meticulously restored architecture, curated cultural experiences, and unparalleled service. Every detail has been thoughtfully designed to honor its legacy while delivering a modern interpretation of luxury. At The Red Palace, we invite guests to step into a world of history, prestige, and indulgence, where tradition and innovation seamlessly come together.

THE POSITION

The Chief Accountant is responsible for overseeing the company's accounting operations, ensuring accurate financial reporting, regulatory compliance, and effective management of accounting staff. This role plays a key part in financial planning, analysis, and safeguarding the company’s assets.

RESPONSIBILITIES

• Leadership& Team Development: Lead, mentor, and inspire the accounting team, fostering a culture of accountability, collaboration, and continuous professional growth.
• FinancialReporting & Compliance: Ensure timely, accurate, and compliant preparation of financial statements, statutory filings, and management reports in line with local regulations and accounting standards.
• Accounting Operations Management: Oversee all accounting functions, including Credit Manager, Accounts Payable, General Cashier cum Paymaster, Income Auditor, Cost Controller, Fixed Assets, and balance sheet reconciliations, ensuring timely month-end closing and accurate ledgers.
• Budgeting& Financial Analysis: Monitor cash flow, budgets, and forecasts; provide actionable insights and recommendations to optimize financial performance and support strategic objectives.
• ProcessImprovement & Controls: Develop, implement, and maintain robust accounting policies, procedures, and internal controls to enhance efficiency, accuracy, and risk management.
• Audit & Risk Management: Coordinate and support internal and external audits, liaise with tax authorities and other local government departments, ensure timely resolution and proactive follow-up on audit findings, and continuously strengthen financial governance and risk management.
• StrategicCollaboration: Partner with department heads and leadership to provide financial guidance, cost management, and resource allocation strategies.
• Communication & Stakeholder Management: Maintain effective internal communication with the management team and all colleagues within the Palace, finance teams across other Palaces/Hotels, and Regional/Corporate functions; and manage external communication with internal/external auditors, tax authorities and other local government authorities, suppliers, and key customers.
• Values& Legacy Competencies: The ability to embrace and practice our legacy values and competencies.
• Innovation & Continuous Improvement: Drive continuous improvement initiatives, encourage adoption of best practices, and leverage technology and analytics to enhance the accounting function.

MAIN DUTIES

• Perform any other duties as may reasonably be requested by management.

• Act as second-in-command to the Director of Finance to support the achievement of hotel objectives.
• Ensure the capital replacement and disposal policy is enforced as per company directives and in line with the management agreement.
• Ensure a detailed understanding of local accounting and tax rules and ensure all reporting complies with company directives.
• Maintain a strong business relationship with the owner/owner’s representative to align business objectives and facilitate approvals on relevant activities (CAPEX, etc.).
• Lead, support, and coordinate all internal and external audit visits and maintain strong relationships with key audit stakeholders, with proactive follow-up on audit issues raised.
• Provide value-added business performance reporting to give Operations the tools to identify areas for improvement.
• Provide accurate forecasting of the business to determine the correct allocation of resources and maximize business performance.
• Lead the Finance team to drive improved performance and develop talent, creating solid succession planning within the Palace and beyond for the Group.
• Support the Director of Finance in driving the annual budgeting and forecasting process to ensure all departments deliver according to approved targets and timelines.
• Responsible for all aspects of the financial management of the property, including administering accounting policies and procedures, adhering to procurement practices and procedures, preparing and interpreting financial statements and management reports, budgetary control, and ensuring compliance with Boutique Group and Red Palace standards and all applicable legal/contractual requirements.

QUALIFICATIONS & EXPERIENCE

• Bachelor’s degree in accounting, Finance, or related field; professional certification (CPA, CMA, ACCA) preferred.

• 5-8 years of progressive accounting experience, including 2-3 years in a senior accounting or supervisory role.

• Hotel pre-opening experience is strongly preferred.

• Deep knowledge of accounting principles, financial reporting standards, and regulatory requirements.

• Proficiency in accounting software, ERP systems, and MS Office applications.

• Strong leadership, analytical, organizational, and strategic thinking skills.

• Exceptional attention to detail, accuracy, and ethical standards.

KEY COMPETENCIES

• Leadership and people management.

• Strategic financial planning and analytical thinking.

• Integrity, professionalism, and ethical conduct.

• Effective communication and collaboration.

• Problem-solving, decision-making, and risk management.

• Commitment to continuous learning, innovation, and process improvement.

• Strong alignment with the Company’s legacy competencies and values, fostering a culture of excellence and accountability.