Group Finance Manager
Wared Holding (Bin Ladin & Zahid for Logistics) , Jeddah, Saudi Arabia.
مجموع سنوات الخبرة :22 years, 9 أشهر
Wared Logistics provides ultimate logistical solutions for both Middle Eastern and North African (MENA) commerce. It was established in 2009 by Zahid Group Holding and Construction Products Holding Company (CPC - Bin Ladin) and is headquartered in Jeddah, Saudi Arabia.
In my current position I report to the group CEO and responsible for the below main activities:
a) Developing the finance team of around 40 FTE based in Jeddah, Riyadh and Dammam, with 8 direct reports
b) Monitoring the main business line profitability, operational cost optimization and cash flow performance
c) Leading financial performance and ROI maximization of an owned subsidiary’s operations
d) Managing the group’s financial performance in the following subsidiaries
i. Wared Express ( Based in KSA ) - Share of 90%
ii.Wared Transport( Based in KSA ) - Share of 90%
iii.Wared International ( Based in KSA ) - Share of 90%
iv.Wared Distribution and warehousing ( Based in KSA ) - Share of 90%
v.Wared Egypt ( Based in Egypt ) - Share of 99%
E) Responsible for Treasury operations involving cash management and forecast, funds allocations and banking relationship
Responsible for all areas relating to financial reporting
Developing and maintaining accounting principles, practices and procedures to ensure accurate and timely financial statements
Prepare the budgets for accurate and timely submission of business plan.
Designing and implementation of internal controls to ensure compliance with the company’s policies and procedures
Research, evaluate and advise on appropriate treatment for complex transactions surrounding business projects.
Preparing the company for interim and annual audits and assuming overall responsibility for efficient and effective completion of the audits.
In my current position I report to the group Finance Manager and responsible for the below main activities:
Monitoring Receivables and Payable Accounts to ensure efficient utilization and timely availability of funds to meet the business requirements.
Working closely with operations and commercial teams to understand the business.
Attending external meetings with clients, main contractors, strategic suppliers and legal advisors to understand impact of external factors on financial profile and function of the company.
Meeting up with bankers, driving banking relationships, providing information to maintain and enhance relationships.
Advises staff regarding the handling of non-routine reporting transactions
Assist the Group finance manager in the monthly Closing & Reports.
Ensuring accurate and timely reporting of interim and annual financial results, and interprets advice on reporting obligations;
Managing a team of 3 Chief accountants& 7 Accountants in running the day to day finance operations for 5 Companies under WARED GROUP.
Supervise and review the work of accountants and provide them guidance and advice on day to day operational issues to ensure that their responsibilities and tasks are supporting the objectives of the company.
Ensure that transactions are recorded in accordance with accounting principles and company’s policies for accurate and timely closing of books in ERP(Microsoft Dynamics AX 2009)
Managing a team of 3 accountants in running the day to day finance operations;
Formulate, analyze and process transactions with professional standards and practices;
Ensuring accurate and timely reporting of interim and annual financial results, and interprets advice on reporting obligations;
Research, evaluate and advise on appropriate treatment for complex transactions surrounding business projects;
Design financial accounting and related systems, in compliance with group policies and procedures and adapting those to meet the business requirements;
Working closely with operations and commercial teams to understand the business;
Attending external meetings with clients, main contractors, strategic suppliers and legal advisors to understand impact of external factors on financial profile and function of the company;
Meeting up with bankers, driving banking relationships, providing information to maintain and enhance relationships;
Working capital management, understanding the cash flows cycles of the company and taking ownership of complete and accurate cash flow reporting;
Working closely with Group Finance function and ensuring that overall objectives of the business are aligned with the Group objectives;
Understanding the overheads structure and driving cost control strategies’ implementation;
Understanding the budgeting process, holding ownership of the budgets and ensuring compliance with the budgets;
Preparing the company for interim and annual audits and assuming overall responsibility for efficient and effective completion of the audits;
Clear understanding of strategic business objectives, performance measures and financial accounting framework (IAS, IFRS)
Control and Implement finance decisions in areas covering revenue, receivables, payables, cash/banking, payroll, general ledger .
Responsibilities include:
Recording A/P Entries under ERP System: Great Plains Software_v10.
Ensuring Purchasing Policy & Authorization Signature.
Prepare Payments (Checks & Transfers) for all vendors.
Prepare Monthly Suppliers' Aging Report.
Monthly Preparation for Budget & Actual Variance Report..
Pricing the Consumed Materials (Using FIFO Method) as senior inventory controller.
Recording Inventory Entries (Receipt & Issuance) under FoxBASE System & Great Plains.
Monthly & Yearly Physical Count Make the Needed Adjustment Entries
Responsibilities include:
Managing the corporate finance & treasury function through monitoring the liquidity of the company and take necessary steps to ensure sufficient liquidity is maintained
Ensure that any excess funds are properly invested in the short, medium and long term instruments.
Overseeing the day-to-day dealings and operations related to the treasury function..
Monitoring of interest payment dates, renewal of facilities, and maturity of long and short term loans,
Preparing periodic statements of the interest rate exposure.
Preparing weekly rolling cash flow forecast.
Reconciliation reports for all the banks accounts...
Prepare Payments (Checks & Transfers) for all vendors.
Maintain Intercompany (I/C) Balances
Responsible for Fixed Assets Register (Acquisition & Depreciation & Disposition)
Monthly & Yearly Physical Count Make the Needed Adjustment Entries
Recording A/P Entries under ERP System: Great Plains Software_v10.
Ensuring Purchasing Policy & Authorization Signature.
Prepare Payments (Checks & Transfers) for all vendors.
Prepare Monthly Suppliers' Aging Report.
Monthly Preparation for Budget & Actual Expenses Variance Report.
Responsibilities include:
-Recording A/P Entries under ERP System: Oracle 11i.
- Ensuring Purchasing Policy & Authorization Signature.
- Prepare Payments (Checks & Transfers) for Suppliers.
- Prepare Monthly Suppliers' Aging Report.
