Finance Director/ACFO
A Major Real Estate Developer / Constructor
Total years of experience :21 years, 5 Months
A real-estate developer and a construction firm involved in major development projects in Saudi Arabia. Reporting to CEO and the Board of Directors, and direct the accounting, finance, FP&A, and treasury functions of projects worth SAR 5 Billions/USD 1.3Billion with a staff of 30.
Tasks Handed
• Participate in strategic planning exercise and implementation
• Supervising annual budgeting process/exercise (corporate budget and project budgets)
• Work closely with PMO Team on project control/forecasts
• Assuring preparation of rolling of forecasts and discuss with top management
• Supervising monthly closing of accounts & financial reporting.
• Performing financial analysis to predict financial health
• Using financial modelling to simulate potential scenarios
• Providing liquidity support to the operation by way of managing cash flow (daily/weekly, monthly, rolling forecasts). Work with Bankers on obtaining financing
• Enhancing internal controls and systems and procedures. Supervision the preparation procedure manual and adding value by reviewing and knowledge contribution
• Contributed to the preparation of authority matrix and assured the implementation of the same
• Set up a cloud based archiving system for files and supervising the sharing of confidential information. Creating and safeguarding the history of company information.
• Partnering with the purchase function and operations for project control, planning, and pricing
• Liaise with external consultants, auditors, and government authorities
• Assuring timely compliance to tax matters and statutory accounts are issued in time. Worked/ing with Tax Consultants and RMs at ZATCA. Supervising external audits. Address internal audit observations.
• Actively involved in ERP implementation and online e invoicing project
• Attend board meeting/EC to present necessary information
• Managed a 14 member team involved in accounting, financial planning, budgeting, reporting, and administration functions.
• Crafted the financial strategy to support a revenue growth year-over-year (range of 20%-30%)
• Provided CAPEX review and advised on new investments average SR 100m YoY
• Developed financial models for decision process (pricing, make-or-buy, Cost Benefit Analysis)
• Implemented the new ERP systems in 3 months period based on MS-Dynamics.
• Finalised annual audit reports issued by PWC and Deloitte without adjustments
• Managed the cash flow, credit control (working capital) and negotiated funding facilities
• Implemented VAT system and was consistency in complying to Tax, Zakat and WHT regulations
• Set-up administration function, recruitment staff and handled the administration for 4 years
• Supported the resource/assets rationalisation process year over year
• Presented quarterly review and rolling forecasts (profit, cash flow) to the Board with the GM
Developer of a major resort and a seven-star hotel worth QR 2b in Qatar. Reporting the Executive Committee, handled the finance, administration and purchase functions.
•Prepared QR 2b budget for the major property and the pre-opening set up and presented to the senior management / Executive Board
•Oversaw the delivery of regular monthly accounts
•Managed the cash flow and assured timely payments to main contractors
•Involved in purchasing and streamline the vendor management aspects
•Involved in ERP Selection process
•Assured all insurable interests are insured timely
•Liaised with internal audit department and brought process improvements
Developer of retail housing and hotel buildings with annual turn of AED 300m and projects worth about AED 3billion. The CEO described that I joined the company with right mid set to develop the systems and support the business strategies. Managed a team of 8 and worked with peer managers. Reported to C-suite/Executive Committee.
•Revamped the monthly management reporting system using MS-excel techniques to improve efficiency by 10% and to achieve the reporting deadline
•Constructed a financial model to support the key investment decisions
•Liaised with Bankers and Corporate office to obtain banking facilities to support the ongoing projects value over AED 3billions.
•Brought up sound financial & cash management discipline within the organisation
•Supervised the preparation of project cost and building profitability
•Worked with Investment Department and external consultants (EY, Colliers) on feasibility studies for new projects
•Attended Board/Executive Committee Meetings and presented relevant information
•Trained and developed the subordinates on various functions
•Assured all insurable interests are insured and introduced claims register for better follow up
A Private equity and stock brokerage business with annual turnover of AED 2billion. Reported to Deputy CEO and Group CFO. Additionally, handled operations and customer service functions.
•Oversaw quarterly and annual external reporting to regulators with full compliance
•Safeguarded clients’ funds (average AED 400m) from trading; adhered to regulatory compliances
•Streamlined the internal procedures and involved in preparation operational manual
•Set up the IT Department and implemented the ERP system to support stock market trading
•Managed fixed deposits (range of AED 20-30m) to earn other income
•Attended board meetings and presented the necessary information
•Saved AED 1m by reconciling the accounts with Dubai Capital Market
•Issued daily information dashboard to the senior management
A Manufacturing start-up firm with an employee strength of 200 that supplied precast building materials to construction industry. I was mainly recruited to support the industry with management accounting skill-set. Reported to the General Manager and Board of Directors. Extensively involved in liaising with Technical Partner (Praton Germany), Bankers, regulatory/government authorities, vendors and customers towards achieving business objectives.
•Brought up a sound financial management and reporting system from scratch.
•Implemented contract pricing model and involved in bid preparation,
•Negotiated banking facilities and conversion of term-loan to soft loans that reduced interest rate from 10% to 6%,
•Implemented construction /project accounting practices,
•Involved in project revival study with external consultants
•Prepared and submitted monthly management reports,
•Developed relevant KPIs and reviewed the same monthly,
•Reviewed all types of contracts and assumed all assets and work in progress are insured,
•Managed the cash flow and arranged guarantees from Banks,
•Controlled and handled the procurement of raw materials,
•Negotiated trade terms with vendors and fixed raw materials prices for the contract period,
•Prepared the accounting and administrative policies and guidelines,
•Supervised purchase, IT and HR functions
•Attended board meetings/acted as
www.pim.lk The Postgraduate Institute of Management (PIM) is a self-financed and semi-autonomous body affiliated to the University of Sri Jayewardenepura. It is located in a spacious location in Borella, Colombo 08. It aims to promote advanced education and professionalism in management in Sri Lanka through the provision of postgraduate instruction, training, research, and development in the various branches of management and administrative studies. Today, it serves the national interests of professional management education and training, providing challenging opportunities for learning and skills development to thousands of senior-level managers and administrators, in becoming the "nation's management mentor".
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