Why Global Companies Hire Treasury Operations Specialists from Saudi Arabia

Saudi Arabia is rapidly emerging as a financial hub in the Middle East, making it an excellent source for treasury talent. Global companies are increasingly looking to the Kingdom for several compelling reasons:

• Financial Transformation: Saudi Arabia’s Vision 2030 has accelerated financial sector development, creating a growing pool of specialists with modern treasury expertise.
• Strong Educational Background: Many Saudi treasury professionals hold advanced degrees from prestigious local and international universities, along with respected certifications.
• Regional Market Insight: Saudi specialists offer invaluable knowledge of Middle Eastern financial markets, regulatory frameworks, and business practices.
• Bilingual Capabilities: Most treasury professionals are fluent in both Arabic and English, facilitating seamless communication with both regional and global stakeholders.

Who Should Consider Hiring Saudi Arabia Treasury Operations Specialists

Several types of organizations stand to benefit significantly from hiring treasury talent in Saudi Arabia:

• International Corporations Expanding into MENA: Companies entering Middle Eastern markets can leverage local treasury expertise to navigate regional financial systems and regulations.
• Financial Institutions: Banks, investment firms, and insurance companies seeking to strengthen their regional operations benefit from Saudi treasury professionals’ local market knowledge.
• Large Conglomerates with Treasury Centers: Organizations centralizing treasury operations can benefit from Saudi Arabia’s strategic location between Asian and European time zones.
• Energy and Infrastructure Companies: Businesses in these sectors can utilize Saudi treasury specialists’ experience with large-scale project financing and currency risk management.
• FinTech Companies: As Saudi Arabia embraces digital transformation, treasury professionals with both traditional expertise and digital literacy are valuable assets for innovative financial technology firms.

Key Skills and Specializations for Treasury Operations Specialists

Treasury Operations Specialists in Saudi Arabia typically possess a diverse skill set that combines technical expertise with regional knowledge:

Core Technical Skills

• Cash flow forecasting and management
• Foreign exchange risk management
• Banking relationship management
• Liquidity planning and optimization
• Investment portfolio management
• Debt management and capital raising
• Financial risk assessment
• Payment processing and optimization

Common Software and Tools Expertise

• Treasury Management Systems (TMS)
• SAP Treasury modules
• Oracle Treasury
• Bloomberg Terminal
• Advanced Excel modeling
• Power BI or similar data visualization tools
• Banking platforms specific to MENA region

Specialization Areas

Experience Levels of Saudi Arabia Treasury Operations Specialists

Treasury professionals in Saudi Arabia can be categorized into several experience tiers, each offering distinct capabilities:

Entry-Level (0-3 years)

Junior treasury specialists typically hold bachelor’s degrees in finance, accounting, or business. They’ve often completed internships at financial institutions and possess fundamental understanding of treasury concepts. They generally support daily operations like cash reporting, payment processing, and basic reconciliations. Many are pursuing professional certifications to advance their careers.

Mid-Level (3-7 years)

Mid-level specialists have developed specialized expertise in areas like cash management, FX operations, or investment analysis. They typically manage specific treasury functions independently and may supervise junior staff. Many hold relevant certifications like CTP (Certified Treasury Professional) or are pursuing advanced credentials. They’re comfortable with treasury management systems and can implement process improvements.

Senior-Level (7+ years)

Senior treasury professionals in Saudi Arabia often hold advanced degrees (MBA, MSc Finance) and prestigious certifications (CFA, ACCA). They develop treasury strategies aligned with organizational goals and have deep expertise in complex areas like structured finance, investment management, and banking relationships. Many have experience in regional treasury centers and can navigate both Saudi and international financial regulations. They typically lead teams and drive treasury transformation initiatives.

Hiring Models to Choose From

When building your treasury team in Saudi Arabia, several hiring models are available, each with distinct advantages and considerations:

The optimal model depends on your organization’s specific needs, timeline, and long-term strategy in Saudi Arabia. Many companies begin with an EOR solution to quickly secure talent while planning their permanent establishment.

How to Legally Hire Treasury Operations Specialists in Saudi Arabia

Hiring treasury talent in Saudi Arabia requires navigating specific legal frameworks. Companies have two primary options:

Option 1: Establish a Legal Entity

Setting up a local entity gives you direct control but involves significant complexities:

• Register with the Ministry of Investment (MISA) and Ministry of Commerce
• Obtain necessary business licenses and approvals
• Set up local bank accounts and financial systems
• Register with the General Organization for Social Insurance (GOSI)
• Comply with Saudization (Nitaqat) requirements
• Develop compliant employment contracts and policies

Option 2: Partner with an Employer of Record (EOR)

Using an EOR in Saudi Arabia offers a faster, more flexible solution. The EOR becomes the legal employer while your company maintains day-to-day management. This approach is particularly valuable when:

• Testing the Saudi market before full commitment
• Hiring urgently without waiting for entity setup
• Avoiding complex compliance requirements
• Managing a smaller team that doesn’t justify entity costs

Asanify’s EOR solution in Saudi Arabia offers a complete compliance package while allowing you to focus on building your treasury team. This approach eliminates complex administrative burdens while ensuring all local employment regulations are properly followed.

Step-by-Step Guide to Hiring Treasury Operations Specialists in Saudi Arabia

Step 1: Define Your Requirements

Begin by clearly articulating the specific treasury expertise you need:

• Identify key responsibilities and deliverables
• Determine required technical skills (cash management, FX, investments)
• Specify necessary experience level and qualifications
• Consider language requirements (Arabic/English proficiency)
• Define cultural fit factors for your organization

Step 2: Select Your Hiring Model

Based on your business needs, choose the most appropriate approach:

• Direct hiring through local entity (if established)
• EOR partnership for compliant employment without an entity
• Contractor arrangements for project-based needs
• Staff augmentation for temporary support

Step 3: Source Qualified Candidates

Leverage multiple channels to find top treasury talent:

• Specialized financial recruitment agencies in Saudi Arabia
• Professional networks like LinkedIn and Gulf-specific platforms
• Financial industry associations and events
• University partnerships with Saudi business schools
• Employee referral programs

Step 4: Evaluate and Select

Implement a thorough assessment process:

• Technical screening of treasury knowledge and experience
• Case studies or simulations of relevant treasury scenarios
• Behavioral interviews to assess cultural fit
• Verification of qualifications and certifications
• Reference checks with previous employers

Step 5: Onboard Compliantly

Ensure a smooth start through proper onboarding:

• Prepare compliant employment contracts
• Register with required government entities
• Set up payroll and benefits administration
• Provide cultural orientation and company introduction
• Establish clear performance expectations and goals

For the smoothest hiring experience, Asanify can manage the entire process through our remote employees onboarding checklist with EOR in Saudi Arabia. Our comprehensive solution handles employment contracts, visa processing, payroll setup, and ongoing compliance, allowing you to focus on integrating your new treasury talent into your team.

Salary Benchmarks

Treasury Operations Specialists in Saudi Arabia command competitive compensation reflecting their specialized expertise. The following salary ranges (in SAR) represent monthly compensation based on market research as of 2025:

Additional Compensation Considerations:

• Benefits Package: Typically includes health insurance, transportation allowance, and housing allowance (often 25-30% of base salary)
• Annual Bonus: Performance-based bonuses ranging from 10-30% of annual salary
• End of Service Benefits: Mandatory gratuity based on Saudi Labor Law (half-month salary per year for first five years, one month salary per year thereafter)
• Certification Premiums: Professionals with CFA, ACCA, or specialized treasury certifications often command 10-20% higher salaries
• Expatriate Packages: May include additional allowances for relocation, education, and home leave

Salary variations also exist based on company size, industry sector, and location within Saudi Arabia. Major financial centers like Riyadh and Jeddah typically offer higher compensation than secondary markets.

What Skills to Look for When Hiring Treasury Operations Specialists

Technical Skills

• Cash Management: Expertise in optimizing cash positions, bank account structures, and liquidity management
• Foreign Exchange Operations: Understanding of FX markets, hedging strategies, and currency risk management
• Investment Analysis: Ability to evaluate investment opportunities, manage portfolios, and analyze returns
• Financial Forecasting: Proficiency in creating and maintaining accurate cash flow forecasts
• Risk Management: Knowledge of identifying, assessing, and mitigating financial risks
• Banking Relationships: Experience negotiating and managing banking services and covenants
• Regulatory Compliance: Understanding of SAMA regulations and international treasury standards
• System Expertise: Proficiency with treasury management systems and financial software

Soft Skills

• Analytical Thinking: Ability to interpret complex financial data and derive actionable insights
• Attention to Detail: Precision in financial calculations and reconciliations
• Communication: Capacity to explain treasury concepts to non-financial stakeholders
• Problem-Solving: Creative approaches to liquidity challenges and financial optimization
• Ethical Judgment: High integrity when dealing with organizational funds and sensitive financial information
• Adaptability: Flexibility to adjust to changing market conditions and regulatory requirements
• Time Management: Ability to prioritize tasks and meet critical financial deadlines
• Cross-Cultural Competence: Effectiveness in multicultural financial environments and global teams

Regional-Specific Knowledge

• Saudi Banking System: Understanding of local banking practices, payment systems, and relationship dynamics
• Islamic Finance: Knowledge of Shariah-compliant treasury instruments and practices
• MENA Market Insight: Awareness of regional economic trends and their impact on treasury operations
• Regulatory Framework: Familiarity with SAMA regulations, Zakat requirements, and VAT implications
• Cultural Business Practices: Understanding of Saudi business etiquette and negotiation styles

Legal and Compliance Considerations

Hiring treasury specialists in Saudi Arabia requires adherence to specific legal frameworks that can be complex for international employers:

Employment Regulations

• Saudi Labor Law: Governs all employment relationships, including contract terms, termination procedures, and working hours
• Saudization (Nitaqat): Mandates hiring Saudi nationals in specific percentages based on company size and sector
• Work Permits: Required for all expatriate employees, subject to quota restrictions
• Employment Contracts: Must comply with Ministry of Human Resources standards and be registered officially

Financial Compliance Requirements

• SAMA Regulations: Treasury operations must adhere to Saudi Central Bank guidelines
• Anti-Money Laundering: Treasury staff must follow AML protocols and reporting requirements
• Currency Controls: Understanding restrictions on certain currency transactions
• Financial Reporting: Compliance with Saudi financial reporting standards

Benefits and Compensation Compliance

• GOSI Registration: Mandatory social insurance contributions for all employees
• End of Service Benefits: Required termination payments based on service duration
• Annual Leave: Minimum 21 days, increasing with tenure
• Working Hours: Maximum 8 hours daily and 48 hours weekly, with special considerations during Ramadan

Data Protection and Privacy

• Personal Data Handling: Compliance with Saudi data protection regulations
• Financial Information: Secure handling of sensitive treasury and financial data
• Cross-Border Data Transfers: Understanding restrictions on moving financial data internationally

Navigating these complex requirements demands specialized knowledge and consistent attention to regulatory changes. Employee tax optimization in Saudi Arabia is particularly important for treasury roles where compensation structures can be complex. Asanify’s EOR solution manages these compliance challenges, ensuring your treasury team operates within all legal parameters while maximizing tax efficiency for both employer and employees.

Common Challenges Global Employers Face

When hiring and managing treasury specialists in Saudi Arabia, international employers often encounter several key challenges:

Regulatory Complexity

Saudi Arabia’s financial regulations are comprehensive and evolving rapidly as part of Vision 2030 reforms. Many international employers struggle to keep pace with changes in banking regulations, foreign investment rules, and financial reporting requirements that directly impact treasury operations.

Talent Competition

The demand for qualified treasury specialists exceeds supply, particularly for professionals with both international exposure and local market knowledge. Banks, investment firms, and large Saudi conglomerates often offer premium packages to secure top talent, making competition intense for international employers.

Cultural Integration

Treasury teams often interface with multiple departments and external stakeholders. Effective integration requires understanding Saudi business culture, communication styles, and relationship-building approaches that may differ significantly from Western practices.

Compliance Management

Treasury operations involve handling significant financial transactions subject to stringent compliance requirements. Ensuring adherence to Saudi Central Bank regulations, AML/CFT guidelines, and international standards simultaneously creates a complex compliance landscape.

Remote Management Challenges

For companies without established offices in Saudi Arabia, effectively managing treasury staff remotely presents challenges in supervision, collaboration, and ensuring consistent application of treasury policies and procedures.

Asanify helps overcome these challenges by providing expert guidance on regulatory compliance, competitive compensation structuring, and cultural integration. Our EOR solution creates a compliant foundation for your treasury team while our local expertise helps bridge cultural and operational gaps for seamless team management.

Best Practices for Managing Remote Treasury Operations Specialists in Saudi Arabia

Establish Clear Communication Protocols

• Schedule regular video conferences that accommodate Saudi working hours
• Use secure communication channels for sensitive financial discussions
• Document all treasury processes and decisions thoroughly
• Consider cultural preferences for communication styles and feedback

Implement Robust Financial Controls

• Define clear approval hierarchies and transaction limits
• Utilize secure treasury management systems with audit trails
• Establish dual controls for critical treasury transactions
• Conduct regular reconciliation and verification procedures

Build Cultural Awareness

• Recognize and accommodate prayer times and religious observances
• Adjust schedules during Ramadan and other significant holidays
• Provide cross-cultural training for both Saudi and international team members
• Understand local business etiquette and relationship-building practices

Invest in Technology Infrastructure

• Ensure treasury specialists have access to necessary financial platforms
• Implement secure VPN connections for accessing sensitive financial data
• Utilize collaborative financial modeling and reporting tools
• Consider the impact of internet reliability and speed in different locations

Develop Targeted Professional Development

• Support continuing education in treasury specializations
• Provide access to international treasury associations and certifications
• Create mentorship opportunities with senior treasury professionals
• Offer exposure to global treasury best practices and innovations

Balance Autonomy and Oversight

• Set clear KPIs and performance expectations
• Focus on outcomes rather than micromanaging daily activities
• Conduct regular performance reviews with constructive feedback
• Create opportunities for treasury specialists to contribute strategic insights

Why Use Asanify to Hire Treasury Operations Specialists in Saudi Arabia

Asanify offers a comprehensive EOR solution specifically tailored for companies looking to build treasury teams in Saudi Arabia without the complexities of entity establishment:

Streamlined Compliance Management

• Expert handling of Saudi labor laws and financial regulations
• Continuous monitoring of regulatory changes affecting treasury operations
• Management of all mandatory registrations and reporting requirements
• Compliant contract structuring for treasury specialists

Efficient Onboarding Process

• Swift deployment of treasury talent through established legal infrastructure
• Comprehensive onboarding protocol designed for financial professionals
• Secure handling of sensitive financial credentials and certifications
• Cultural orientation specific to Saudi financial environment

Optimized Compensation Structures

• Competitive salary benchmarking for treasury roles at all levels
• Tax-efficient benefit packaging tailored to treasury professionals
• Compliant bonus and incentive structures aligned with treasury KPIs
• Strategic allocation between fixed and variable compensation

Risk Mitigation

• Legal protection from misclassification and compliance risks
• Expert management of financial sector-specific employment requirements
• Proper handling of confidentiality for treasury operations
• Compliant termination procedures when necessary

Specialized Treasury Talent Acquisition

• Access to pre-screened treasury professionals across specializations
• Technical assessment protocols designed for treasury expertise
• Industry-specific reference checking and verification processes
• Attraction strategies for high-demand treasury talent

With Asanify as your EOR partner, you can focus on building and integrating your treasury function while we handle the complex compliance and administrative aspects of employment in Saudi Arabia.

FAQs: Hiring Treasury Operations Specialists in Saudi Arabia

What qualifications should I look for in a Saudi Treasury Operations Specialist?

Look for candidates with finance-related degrees and relevant treasury certifications like CTP, CFA, or ACCA. For senior roles, MBA or specialized finance master’s degrees are common. Experience with treasury management systems and Saudi banking relationships is valuable, as is knowledge of both conventional and Islamic finance principles.

How does Saudization impact hiring for treasury positions?

Treasury roles fall under financial positions in the Nitaqat system, which typically requires higher percentages of Saudi nationals. The exact quota depends on your company size and sector, but many treasury positions are designated as “Saudized” roles. Asanify helps navigate these requirements by ensuring compliance with current Saudization targets for your specific situation.

What is the typical notice period for treasury professionals in Saudi Arabia?

Notice periods generally range from 30 to 90 days, with more senior treasury positions requiring longer notice. These periods are typically specified in employment contracts and must comply with Saudi Labor Law. When recruiting, factor these notice periods into your hiring timeline, especially for specialized treasury roles.

Can we hire treasury specialists on a remote basis from Saudi Arabia?

Yes, remote hiring is possible, but all employees working in Saudi Arabia must be properly employed through a legal entity or an EOR like Asanify. Remote treasury work requires strong considerations for data security, financial controls, and regulatory compliance. Outsourcing work to Saudi Arabia through an EOR provides the most compliant approach for remote treasury specialists.

How are bonuses typically structured for treasury roles in Saudi Arabia?

Treasury bonuses often combine individual performance metrics (like cash optimization or risk management) with company performance. Annual bonuses typically range from 10-30% of base salary, with higher percentages for more senior roles. Some companies also implement specific incentives tied to treasury KPIs like working capital improvements or FX management results.

What are the working hours expectations for treasury specialists in Saudi Arabia?

Standard working hours are 8 hours per day, typically from 8:00 AM to 5:00 PM, Sunday through Thursday (Saudi Arabia’s work week). During Ramadan, working hours are reduced to 6 hours daily. Treasury roles may sometimes require additional flexibility to interact with international markets or handle urgent liquidity matters across time zones.

Are there specific licenses or registrations required for treasury professionals?

Treasury roles generally don’t require government licensing, but certain specialized functions involving securities or investment decisions may need Capital Market Authority (CMA) registration. Companies handling significant foreign exchange might need specific SAMA approvals. Asanify ensures all necessary registrations are properly maintained for your treasury team.

How do Saudi employment contracts differ for treasury specialists?

Treasury contracts typically include specific confidentiality provisions regarding financial information, clearly defined authority limits, and often non-compete clauses. They may also outline reporting requirements and compliance obligations specific to financial roles. Asanify ensures all contracts meet both legal requirements and the specialized needs of treasury positions.

What benefits are typically expected for treasury professionals in Saudi Arabia?

Beyond competitive salaries, treasury specialists typically expect comprehensive health insurance, housing allowances (25-30% of base salary), transportation allowances, and annual bonuses. Senior treasury roles often include additional benefits like education allowances for children, annual flight tickets, and executive-level health coverage.

How can we ensure compliance with Saudi financial regulations when hiring treasury staff?

Compliance requires ongoing attention to SAMA regulations, AML requirements, and financial reporting standards. Using an EOR like Asanify ensures your treasury team operates within a compliant framework, with experts who continuously monitor regulatory changes and update employment practices accordingly.

What technology infrastructure is needed to support remote treasury operations in Saudi Arabia?

Remote treasury operations require secure, reliable connectivity with appropriate encryption for financial data. Treasury management systems should be accessible via secure connections, with proper authentication protocols. Consider implementing additional security measures for sensitive financial activities and ensure compliance with Saudi data protection requirements.

Conclusion

Hiring Treasury Operations Specialists in Saudi Arabia offers global companies access to a growing pool of financial talent with unique regional expertise. As the Kingdom continues its economic transformation under Vision 2030, treasury professionals who combine international best practices with local market knowledge are becoming increasingly valuable assets.

While navigating the Saudi employment landscape presents certain challenges, the strategic benefits of building treasury capabilities in the region are substantial. Companies can leverage these specialists to optimize cash management, strengthen banking relationships, and enhance financial risk management across the Middle East.

For organizations without an established legal entity in Saudi Arabia, partnering with an Employer of Record like Asanify provides the most efficient path to securing treasury talent. This approach eliminates complex compliance burdens while ensuring your treasury team operates within a fully compliant framework tailored to the unique requirements of financial roles.

Whether you’re expanding your treasury function into the Kingdom or building a regional treasury center, the right hiring approach is essential to success. By understanding the local market dynamics, implementing appropriate hiring models, and addressing compliance requirements proactively, you can build a high-performing treasury team that delivers exceptional value to your organization.

Not to be considered as tax, legal, financial or HR advice. Regulations change over time so please consult a lawyer, accountant  or Labour Law  expert for specific guidance.