GM Financial planning and analysis
Petromin Corporation
Total years of experience :17 years, 2 Months
Responsible for providing business insights for commercial and non commercial related matters to sales, operations and other departments, product pricing, building forecasts, forward looking, handling budgets and budgetory controls, improving current policies and procedures
From Sep 2013 to present working as Manager Finance for:
• Al-Rashed Fasteners & Engineering Fabrication Services Co. LLC
• Al Rashed Steel Product manufacturing LLC
• Gulf Fasteners Company-LLC
• Pack Pallet Pooling LLC
The companies are involved in manufacturing and fabrication, export and local sales of wide range of fasteners & steel products.
Being responsible to plan and supervise all matters related to finance & accounts management of the assigned companies, provide input and coordination in strategic decision making, business planning, accounting, budgeting, financial reporting, treasury and funds management in close liaison with internal and external stakeholders WITH the objective to ensure smooth viability of business operations, maintaining and improving financial health of the company while following the guidelines and limits defined within company policies & procedures, international accounting standards, government rules and regulations pertaining to corporate governance and taxation.
Main responsibilities:
•Developing reports for top management summarizing the business financial position in areas of income, expenses, capital usage, discontinue of product line and cash flows, and coordinate the preparation of strategic plans, annual & periodical budgets and financial forecast.
• Provide input into deployment of corporate vision, strategy and targets into departmental plans and performance targets.
• Provide key input and analysis into preparation of running business plan.
• Determining financial objectives, designing & implementing systems, policies & procedures to facilitate internal financial control.
• Reviewing and finalizing monthly and annual standalone and consolidated financial statements.
• Monitoring budgets and comparing them with actual results and liaison with line managers to complete targets
• Monitoring cash flow requirements of the Company and coordinating with corporate treasury staff to arrange finance from banks / other institutions
• Monitoring KPIs of the Company and designing action plan for variance through liaison with respective line managers
• Reviewing and guiding cost control function for production operations of the company.
• Reviewing, supervising and finalizing product pricing.
• Being member of purchase committee coordinating with respective line manager to maintain optimal level of inventory.
• Coordinating with internal and external auditors.
• Assessing feasibility of new and existing product lines with or without using discounted cash flow techniques.
• Identification of major problems in all areas of accounting and financial reporting, taxation & zakat systems and processes.
• Coordinating with zakat consultant for finalization of zakat and other regulatory returns.
• Provide leadership and supervision to the accounting and finance team in ensuring that employee training needs are properly addressed and conducting performance evaluation.
• Manage work allocation and delegation in order to build an effective, motivated and dynamic team
• Reviewed IFRS and US GAAP audit and reporting, coordinated and reviewed the work of Internal Audit, reviewed and finalized GAAP and Statutory audit reports and discussed with the client accounting and auditing issues and
developments.
• Provided corporate matter advisory, financial management, tax planning, risk advisory engagements external and internal audit. Primary clients include Schlumberger, AL-Suwaidi Group, AL Fozan Group, MACT Group, Kanoo group, Olayan Group
• Reviewed business processes requirements including obtaining integrated knowledge of the client’s strategic,
operational and financial systems as well as regulatory requirements to mitigate the risks.
• Reviewed business risks associated with the business processes and related controls including identification of gap in the design of internal controls.
• Performed risk focus audits and prepare comprehensive, clear, concise reports; communicate effectively in writing and orally; ensuring that issues are communicated to the Management and resolved as early as possible and maintain objectivity and impartiality.
• Supervising audits and reviewing the work performed to insure the adequacy of audit scope, the adequacy of testing performed, and the accuracy of conclusions reached. Audit work will also be reviewed for compliance with policies
and procedures and the International Standards for Auditing.
• Perform effective wrap-up of engagement, assisting partner after leaving the field work by staff, preparing report issuance/concurring review process and ensuring engagement reviews have been completed.
• Manage workload to ensure all tasks are completed according to deadlines and budgets set
• Reviewed IFRS and US GAAP audit and reporting, coordinated and reviewed the work of Internal Audit, reviewed and finalized GAAP and Statutory audit reports and discussed with the client accounting and auditing issues and
developments.
• Provided corporate matter advisory, financial management, tax planning, risk advisory engagements external and internal audit. Primary clients include Schlumberger, AL-Suwaidi Group, AL Fozan Group, MACT Group, Kanoo group, Olayan Group
• Reviewed business processes requirements including obtaining integrated knowledge of the client’s strategic,
operational and financial systems as well as regulatory requirements to mitigate the risks.
• Reviewed business risks associated with the business processes and related controls including identification of gap in the design of internal controls.
• Performed risk focus audits and prepare comprehensive, clear, concise reports; communicate effectively in writing and orally; ensuring that issues are communicated to the Management and resolved as early as possible and maintain objectivity and impartiality.
• Supervising audits and reviewing the work performed to insure the adequacy of audit scope, the adequacy of testing performed, and the accuracy of conclusions reached. Audit work will also be reviewed for compliance with policies
and procedures and the International Standards for Auditing.
• Perform effective wrap-up of engagement, assisting partner after leaving the field work by staff, preparing report issuance/concurring review process and ensuring engagement reviews have been completed.
• Manage workload to ensure all tasks are completed according to deadlines and budgets set