Flowserve Corporation Accountant in Al-Khobar, Saudi Arabia

Company Overview:

Flowserve is the recognized world leader in supplying pumps, valves, seals, automation, and services to the power, oil, gas, chemical, and other industries. With more than 18,000 employees in more than 55 countries, we combine our global reach with a local presence.

Position Description:

SA11002 SAFA2064AccountantSenior

Compliance/Control - Compliance of Sox /Balance sheet accounts reconciliations like AR, AP, Accruals, FA etc, compliance of operational financial policies related to areas having impact on inventory and their implementation

Compliance/Control - Coordinating with auditors - internal and statutory auditors and providing required details, compliance and implementation of audit notes and queries.

Compliance/Control - Intercompany balance confirmation and resolving any issues, planning for intercompany payments schedule.

Decision Support - Provide management accounting support to FC. This will include day to day operational accounting but will extend to include strategic support, including footprint / capacity decisions, business assessments, strategic capital investment opportunities.

Decision Support - Monthly calculation of Lower of Cost or Market value of WIP and related accruals, improving LCM calculations including all the components of cost incurred, expected cost like open POs etc. to be incurred which are having proper supporting and arriving at proper LCM accrual.

Decision Support - Significant and major contract booking review as per FSG policy, develop/improve the templates, drill down the details, add value to the report, keep supporting documents, and details which can be audited.

Decision Support - Project profitability monitoring report statements- prepare/improve this report for the selected significant contracts for value above 100K USD , this will include the expected COGS, actual COGS, variance and explanations for variances , drill down the details for components of cost like Materials, Labor, other miscellaneous etc.

Alignment: Disciplined Profitable Growth 1) - Strengthen internal controls and accounting policies and develop additional procedures to ensure compliance with policies and procedures. Continually search for more productive ways of performing the finance function. 2) - Ensure compliance with the division and company policies, procedures and controls.

Alignment: Employee Focus 1) Promote professionalism and teamwork operating within a performance based culture focused always on financial excellence. 2) - Strengthen professional staff . Ensure the highest standards of ethical behavior are maintained across the finance organization

Alignment: Employee Focus Establishes and maintain Monthly Contract profitability tracking . Monthly calculation and maintenance of Lower of cost or Market value of WIP and related accruals. FULLY focused and handling above by end of July

Strategic Alignment: Operational Excellence SMART Objective Summary : Inventory Control and Accuracy: (1) Establish a regular monthly raw material stock count checking procedure to ensure that record keeping and transactional disciplines are adequate and support our Annual Stock count. Begin monthly stock checks in June and thereafter each month. Take necessary actions to correct any issues, working with Inventory management teams (2) Lead the Annual Stock Count and ensure that all preparatory actions are taken to ensure a successful count. This involves coordinating with Operations and Inventory management teams regarding timing & resources, indeed all aspects linked to the count.

Strategic Alignment: Operational Excellence CIP culture with focus on constant process review and improvement. Openly share best practices within and across Platforms Finance Transformation initiative

Strategic Alignment: Operational Excellence SMART Objective Summary : Month end sales report – develop/improve the sales report , add value keep the supporting documents which can be audited.

Strategic Alignment: Operational Excellence SMART Objective Summary : Month closing activities, depreciation accruals, expenses accruals , and other related activities

SMART Objective Summary : Raising Field Service Project Invoices and re invoicing and resolving the related issues in coordination of Field Service Administration

Strategic Alignment: Operational Excellence SMART Objective Summary : Supplier prepayment statement in excel - Preparation of supplier prepayment monthly schedule and follow up for its application/release by system receipt of material in coordination with stores and project managers

Preparation of Bank Guarantee form and related documents completion

Position Requirements:

Educational Qualification: CPA, CA Intermediate, Finalist, CMA, ICWAI-Intermediate/Finalist or Bachelor in Commerce with MBA

Experience, Industry and background:

Must have:

  • not less than 10 years in case of B Com with MBA and not less than 5 years for other qualification- exposure to ERP. Oracle Financials and or SAP (BI) BPC 10.0 (highly preferred)

  • worked in similar position for not less than 3 years

  • IT skills such as MS office(Excel, word, power point, outlook etc.) is a must. Higher(not necessarily advanced) Excel knowledge a must

  • good command in English, while Arabic is desirable

  • Nationality: Any nationality but with transferable Iqama (social iD) or Saudi


Nice to have:

  • understanding of SOX compliance (would be highly preferred)

  • good knowledge of cost accounting

  • preference will be for experience in Manufacturing Industry

  • candidate willing to join at the earliest would be good but not a necessary criteria for selection

Percentage of Approximate Travel Required:


Job Posting/Business Card Title:


Job Posting Category:

Finance & Accounting

Primary Posting Location:

Al-Khobar, SA

Employment Type:

Full time

Relocation Eligible:



Saudi Arabia

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