REWARDS & REMUNERATION MANAGER
Olayan Financing Company
Total years of experience :19 years, 7 months
Strategy Planning & Implementation:
- Formulates and implements policies, strategies and plans for Compensation and Benefits throughout the Group and ensures that activities of the function are aligned and congruent with the needs of the businesses and with other HR initiatives and provide a value-added contribution to the overall efficiency and effectiveness of the Group.
- Develop, recommend and implement Group-wide Compensation & Benefits policies and processes ensuring remuneration is focused on job accountabilities, individual performance, equitable implementation across the Group and competitiveness in the GCC/MENA market.
Rewards Management:
- Participates in the formulation of the Human Resource strategy and direction in light of the Group’s overall business objectives and plans.
- Initiate and participate in appropriate pay market surveys and otherwise procure relevant pay market information, calibrate Group policy and practice against these and make recommendations to senior management on improvements to the Group’s remuneration packages and benefits policies and practice.
- Champion the process of developing job analysis and job descriptions, conducts job evaluations according to the approved job evaluation plan, develop, recommend and obtain approval to implement appropriate grading structure and salary ranges to reward employees for the work they do.
- Recommend, obtain approval to and directs the implementation of the salary (merit) increase program and budget ensuring that employees are rewarded fairly and their salaries are in line with their performance and contribution to the organization.
- Design variable pay and incentive schemes, collaborating with Operating companies as necessary, to reward employees for their performance against established standards and targets.
- Keeps abreast of regional and international trends in Compensation & Benefits practices and pay levels providing recommendations for adapting and improving the Group’s techniques to reward and retain high performers and ensure the implementation of a competitive reward strategy.
- Provide the Top Management with required data from analysis and identification to the development areas from the pay perspective in order to support the decision making process.
- Manage the development of the group Reward Structure through the collaboration with internal or external parties and participating in benchmarking exercises to ensure the competitiveness within the market.
- Organization Design & Development:
- Design and deliver Organizational Development and change management strategies, processes and interventions that support the organization growth and vision to be a high performing organization include initiatives which foster a high performance culture, where valuing learning, continuous improvement and diversity.
- Provide guidance and assistance to operating companies in matters relating to organizational development and restructuring.
- Identify opportunities for performance improvement through undertaking internal diagnosis, process/system reviews in order to understand barriers and possible solutions; conducting external research into good practice and new ideas.
- Commission and manage additional internal or external resources as and when required in order to ensure cost-effective delivery of agreed Organization Development initiatives.
- Review the organization chart, reporting line, organization structure.
Manpower Planning:
- Support the operating companies and head office department to construct the yearly manpower plan as per the direction of the organization.
- Execute short and long term strategies which enable the best optimization of the resources.
- SAP HCM Implementation/Support:
- Support HR sections construct process maps/workflow.
- Work closely with SAP team to ensure the timely delivery of projects and enhancement work.
- Review and recommend changes to the blueprints of SAP proposals.
Executive Committee Meeting Preparation - twice a year:
- Design & Prepare the financial & non-financial slides for 30+ individual company and consolidated including Real Estate, Investment and Corporate.
- Design & Prepare additional financial slides to support additional agenda items.
Monthly Management Meetings:
- Design and automate the generation process between Excel and PowerPoint to maximize efficiency and minimize time and errors.
- Improved the quality of presented materials by adding KPIs that are essential and customized for each individual company.
Monthly Reporting and Closing:
- Designing universal chart of account for Head Office and consolidated companies.
- Consolidate the Groups’ portfolio and execute monthly financial reports such as P&L, Balance Sheet & Cash Flow.
- Responds to an ad-hock requirement by VP-Finance/Operating VPs/President/Owners.
Portfolio Management: (Energy, Oil and Gas sector companies)
- Conduct various analytical financial reviews.
- Follow up and discuss with Finance Managers variances to make a recommendation inline with the Groups’ Policies and Procedures.
- Prepare cause of changes to provide adequate reasons and corrective action if necessary.
- Provide assistance to Finance Managers in preparing Budgets and Capital Projects.
Other Ad-hock Projects:
- SAP Business Planning and Consolidation Implementation and Testing phases.
- Updated the Group’s financial reporting system. The update included a detailed review of P&L, Balance Sheet, Cash Flow and other support schedule structure, design and formula.
- Prepared a three years Corporate Model to determine strategies.
- Updated the group’s Financial Policies & Procedure manual to incorporate new changes in Accounting & Administrative.
- Conducted an advance Excel training targeting Finance Manager within the group.
- Conduct various process improvements for Finance/Planning Department, including improvement of MIS and redesign/documentation of procedures.
Monthly/Quarterly Closing and Reporting:
- Prepare and review monthly, quarterly and yearly P&L, Balance Sheet, Cash Flow and Trail Balance.
- Prepare and review monthly reports of revenues/margins, profitability and inventory.
- Analyze monthly provision for inventory and receivable.
- Identify operational and financial issues and present them to the management with proposed solutions.
- Prepare quarterly Balance Sheet review and make necessary action as required as per policies and procedures.
- Prepare bank reconciliation.
- Review the accuracy of equipment and inventory costing.
- Ensure proper recording of inter-company transactions.
- Prepare reconciliations of GL accounts relating to suppliers payables/receivables, banks & group treasury and take action on the reconciling items.
Year End Closing:
- Supervise the annual inventory physical count, reconcile the difference and obtain approval to write off missing/damaged inventory.
- Perform FOREX reconciliation to identify any gains/losses that need to be posted.
- Handle external audit by providing required financial information, reports and explanations as necessary.
- Sign on the audited financial statements after performing a detailed review.
Budget/Revised Budget/Strategic Plans:
- Prepare Yearly/Revised budget.
- Prepare a strategic five years budget.
Ad-hock Process Improvement:
- Design and unify reports used internally to make sure the adequacy of information.
- Introduce new concepts to engage the company employees in more productive tasks.
- Assign goals for each employee at the beginning of the year.
- Participate in customer and principle meetings to adhere the company’s objectives and direction.
- New implementation of an accounting system (Microsoft Great Plains) to replace the legacy manual system.
Other Routine Tasks:
- Process Capital Purchases and Disposal in adherence with the Group Policy, prepare CAPEX utilization report, maintain fixed assets register, run monthly depreciation, prepare monthly report of fixed assets.
- Conduct weekly meeting with sales and operation to discuss the status of bids, orders and inventory to make sure the company will meet its target and mitigate any issue in a timely manner.
- Appraise employees to determine the yearly performance against their assigned goals.
- Appraise Company's Employees and prepare the yearly bonus.
- Appraise Company's Employees and prepare employees promotion/salary adjustment.
- Process payments to suppliers/others and send payment intimations to them with invoice details.
- Approve sales quotation before sent to the customer to ensure the company is within its target profitability.
- Handle the administrative tasks and Government Relations.
- Manage the Dividend fund.
Planning:
- Prepare an annual audit/follow-up plan and timetable for all projects and activities.
- Allocate resources to each audit to maximize the department productivity.
Execution:
- Conducted stock counts, risk based audit and special assignments in various types of businesses (Manufacturing, Services, Food Services, Retailing, Trading and Warehousing).
- Analyzing the financial statement and other financial and non-financial reports.
- Determine the adequacy of internal accounting controls to ensure compliance with the Company's goals, objectives, policies, procedures and applicable laws and regulations.
- Evaluate the use of resources according to the company’s operating policies and procedures.
- Perform various tests to ensure the accuracy of information within the financial system.
- Prepare audit report on findings during the course of audit.
Follow-up:
- Perform test on previously reported issues to make sure corrective actions are in place.
- Report any discrepancies if any from agreed corrective action.
Other Tasks:
- Structuring and Developing the Audit Manual and Procedure.
- Coordinate and conduct investigations of suspected and actual internal fraud.
Operation:
- Open new project in the system (JDE Edwards) once a new order received.
- Update the Backlog report once a new order received or rescheduled.
- Prepare monthly work time schedule to facilitate payroll process.
- Allocate work time for each employee to a receptive job or ideal time.
- Prepare sales estimates for the month, quarter and the year.
- Update sales risks and future opportunities on weekly basis.
Financial:
- Prepare invoices for completed orders.
- Review work-in-progress costs on timely basis and compare them with budgeted costs and highlight any concerns.
- Review work-in-progress accrual to make sure costs matches the revenue recognized.
- Follow-up overdue receivables and propose collection action plan.
- Prepare closing sheet for each order which includes budgeted vs. actual costs.
Improvement:
- Design Excel sheets to help improve sharing of information on timely manner.
- Design an internal system and database to automate and capture the orders from opening to closing.
Bachelor of Science in Accountancy and Information Systems