Finance Director
Magrabi Hospitals & Centers
Total years of experience :27 years, 11 Months
• Assuring the integrity of financial information and systems of the organization.
• Supervises the area of budgeting, forecasting, strategic financial planning and analysis, financial accounting, consolidation of subsidiaries, management and business metrics reporting, treasury and all general accounting functions.
• Preparing and presenting monthly and quarterly reports to CFO.
• Overall responsibility for the business' financial reporting and general ledger, including accurate and timely submission of monthly Management Accounts (local and group reporting) under IFRS.
• Performed tasks pertaining to payroll transfers and payments disbursement to our branches.
• Ensured all company financial transactions adhered to company and appropriate state policies.
• Analyzed and made improvement suggestions regarding financial accounting and control systems.
• Effectively coordinated with operating divisions to shorten the reporting process for monthly closings and improve forecast accuracy.
• Oversees the property and liability insurance program.
• Managing the company's cash flow and maintained good working relationships with Banks to secure competitive interest rates and financing programs.
• Lead, Manage, evaluate and developed a junior and middle accounting staff of 12 in three countries as a teamwork.
• Policy making and development of internal controls where required.
• Responsible for implementation of company standards and polices for all finance aspects and internal control area.
• Control and review the Account Receivables in 6 branches to insure that all transaction has been submitted on time with annual revenues $45M in the three countries.
• Improved financial ratio by reduce it from 200 days to average 75 days and below in AP, AR and inventory days.
• Leading a team of 5 direct and 7 indirect reports and controlling a $40 M annual expenses budget (payroll, material, contract, …..)
• Provide corporate management with a consolidation of all financial statement and reports.
• Support all corporate financial reporting requirements, including cash and cap-ex forecasting along with resource planning needs.
• Responsible for internal and external accounting, reporting, and financial analysis.
• Analyze and report actual operating performance against budgets, forecasts using KPI with appropriate analysis and variation explanations in monthly bases with a recommendation to reduce the cost if any.
• Managing and coordinating year-end closing with the external auditors and Tax advisor in the countries.
• Perform trend and statistical analysis to increase utilization of company assets.
• Fixed assets management, acquisition, coding for inventory and disposal.
• Establish and implemented new ERP system in 6 branches in GCC using Oracle & Sage.
• In charge for all financial and accounting functions include general ledger, accounts payable, payroll, Receivables.
• Assisting the management in budget preparation.
• Handling matters related to taxation, insurance policies and banking.
• Measure and report performance against approved operating budgets and
• Follow-up and controlling all activities related to stock control.
• Preparation of monthly cash flows and monitoring the fund position.
• Preparation and supervision of export document and drafting of import letter of credit.
• Monitoring HR functions related to payroll, etc.
• Responsible for internal control, safe guarding assets and enforcing established policies and procedures particularly this with financial impact
• Coordinating with external and internal auditors and preparing the annual tax return for year closing.
• Prepare special analysis and reports as may be required
• Managed and facilitated performance management processes to safeguard the hospital assets.
• Reviewed paid claims through data mining to determine if potential overpayments occurred.
• Responsible for processing of suppliers invoices and payments
• Review the petty cash comes from sites and locations and recorded in general ledger
• Payroll preparation
• Maintaining the Journals and provisions.
• Reconciliation of Bank Transactions & Suppliers/Debtors Accounts
• Liaising with External Auditors for year-end Statutory Audits
• Book-keeping supplies accounts
• Monthly suppliers payment as per aging
• Prepare monthly journal entries manually or by initiating electronic creation through our software program
• Review JEs carefully for anomalies and other inconsistencies
• Conduct inventory reserve analysis on a quarterly basis and generate reports for senior management
• Assist the Senior Accountant with suggesting changes to policies or procedures to increase cash flow
• Review rates of depreciation, labor and overhead and suggest policy changes to improve numbers
• Classify costs accurately
• Generate PPV reports and analyze findings
• Establish standard costs and update them as appropriate
• Maintain and review the general ledger.
• Retrieve bank or financial statements, receipts, invoices, checks and other documentation of company transactions.
• Compare invoices, checks and receipts with statements to find inconsistencies or incomplete documentation.
• Examine statements, forms and internal organization controls for compliance with regulatory and accounting standards.
• Evaluate reliability of source of financial data.
• Identify potential breaches in data or system security, including vulnerability to computer hacking.
• Report findings of audit to senior auditors or to management as directed by supervisors.
• Review contracts, payments and other executed documents for evidence or indication of authorization of transaction.
• Determine compliance with company controls and procedures for execution of documents and payment methods.
• Compile information on employee or staff access to particular forms of data and computer systems
courses: - CMA Certificate Course (International Training Finished Studies 4 parts Institute) OMAN
courses: - CMA Certificate Course (International Training Finished Studies 4 parts Institute) OMAN