CFO
Twaik Group Holding
Total years of experience :31 years, 3 Months
Play key role in directing corporate transformation and group restructuring to ensure smooth flow of operations. Create and execute financial transformation strategies, policies/procedures, and group improvement plans in collaboration with CEO and boards. Lead seamless execution of process improvement initiatives, such as Shared Services Centre to increase organisational productivity. Develop and administer group budgets, forecasts, financial statements, business periodic reports, cash flow, and external audits to streamline processes. Interpret/translate operational metrics into measures for performance improvement and customer value optimisation.
● Rendered expert-level support in implementing ERP, re-structuring and transitioning group entities, as well as managing change.
● Contributed to restructuring of Bank’ facilities and term loans in advantageous way for relevant stakeholders.
● Served as Real Business Partner for reinstating finance department.
Oversee the maintenance of the organization’s financial health through the development and implementation of strategies and plans aimed at achieving the company’s long-term financial goals. Manage the preparation of forecasts, financial statements, and business activity reports as well as to conduct quality assurance to ensure that the company’s financial details adhere to all legal requirements. Administer the implementation of financial controls, policies, and procedures, as well as ensure the provision of appropriate financial and internal controls with a core focus on financial governance. Identify emerging trends in financial performance to strategically offer recommendations and determine potential business opportunities and manage the coordination of external audits. Train and develop high-performance organizational teams, foster the implementation of team building and performance management activities, and conduct group meetings to ensure the successful performance of financial operations.
Achievements:
• Successfully lead the process of IFRS conversion.
• Currently heading the development of the Company’s Finance Policies and Procedures.
• Developing Staff Training Programs.
• Involved in the selection and implementation of the new ERP and Microsoft Dynamic 365.
Managed the organization’s financial portfolio through the preparation of financial reports, as well as providing cash management. Analyzed the organization’s market trends and competitor activities to identify areas of improvement and recommend solutions accordingly. Developed strategies and internal controls aimed at minimizing financial risks and prepared financial data that relate to budgets, accounts, and expenses. Improved and implemented financial accounting and reporting guidelines, including cost and managerial accounting policies and procedures. Monitored the organization’s revenue cycle, conducted variance analysis and ensured quality control over financial transactions.
Achievements
• Successfully led the process of IFRS conversion.
• Participated in VAT implementation and system readiness and VAT compliance.
• Led the staff training program
FUNCTIONAL EXPERTISE:
Finance Operations:
• Ensure and enhance the implementation of the appropriate financial accounting and reporting guidelines, cost and managerial accounting policies and procedures, for use throughout the Division and ensure compliance with applicable accounting standards and all statutory requirements.
• Provide monthly, quarterly, and annual financial and managerial reports including the job order cost sheets in comparative with the budget and variance analysis to the Managing Director.
Significant Accomplishments Across Career:
McGregor Bailey & Co.
• Successfully achieved high ranking on the Inland Revenue timely filling tax returns.
• Initiated extraordinary steps resulting in excellent customer satisfactions during the tenure.
• Great practice review report on the CA Institute regular audit.
• Spearheaded monitoring and coaching couple of staff to gain their CA required skills and experience.
FUNCTIONAL EXPERTISE:
Financial Reporting
• Supervise the day to day financial reporting. Ensure prompt monthly, quarterly and annual closing of books of accounts, lead the preparation of the statement of financial position and variance explanations.
• Analyze the financial statements, profit & loss accounts and balance sheet prepared by the accounting team, verified accuracy and submitted financial reports to the senior management.
• Coordinate in preparation of annual audited financial statements and ensured quality control over financial transactions and financial reports.
FUNCTIONAL EXPERTISE:
Internal Control Measures
• Actively participate in budget preparation and variance analysis, control expenses for the identified cost centres so that budgetary figures are achieved.
• Monitor and verify accounts payable process ensuring timeliness and accuracy by scrutinizing invoices received.
• Exercise a strong control over accounts receivable, ensured payments from customers are received as per the prescribed credit norms of the company.
Significant Accomplishments Across Career:
Saudi Snack Foods Company Limited
• Involved in reconciling the accounting software reports with associated IQ reports.
• Successfully participated in the consolidation of the newly acquired business and the location wise inventory control.
• Achieved a high ranking in the Balance Score Card within the group for accurate and timely reporting.
• Initiated the development and maintenance of the Annual Operation Plan Module and the Material Cost Module.
FUNCTIONAL EXPERTISE:
Practice Management:
• Prepare budgets, forecasts and year-end financial accounts as well as undertaking cash flow and treasury facility management for a portfolio of clients.
• Prepare monthly financial statements such as Trial Balance, Balance Sheet, statement of Profit and Loss, Cash Flow Statement, Bank Reconciliation and other required financial reports.
• Coordinate and manage the audit process, ensuring the achievement of required deadlines and the fostering of a positive audit relationship.
FUNCTIONAL EXPERTIES:
Accounting Management:
• Coordinate operations of the accounting department, execute accounting processes and ensure accounting standards are followed.
• Develop accounting reports to be submitted to the management to enable decision making, ascertain that all statutory reporting is carried out in time.
• Prepare monthly financial statements such as Trial Balance, Balance Sheet, Statement of Profit and Loss, Cash Flow Statement, Bank Reconciliation and other required financial reports.
FUNCTIONAL EXPERTIES:
Accounting Operations:
• Provide tailored financial and accounting advice across a range of issues including land transactions, application of residency and capital/revenue matters. Design structures for domestic taxpayers, debt restructuring and structuring for investment.
• Manage and motivate the staff team toward the achievement of business objectives, providing support in professional development via training sessions including updates on taxation regulations.
• Complete tax returns, filing monthly PAYE and periodic GST and FBT, ensuring the achievement of required deadlines and adherence to all regulatory requirements.
Significant Accomplishments Across Career :
Goozy Food Services Limited
• Successfully implemented the new accounting software.
• Successfully participated in the expansion of the company from two branches to seven branches.
FUNCTIONAL EXPERTIES:
Planning and Business Analysis
• Forecast each period’s financial and operational result and ensure accurate and timely production of financial account and management reports.
• Prepare actual vs. annual operation plan (AOP) analysis and involve in inventory control and valuation.
• Calculate production cost, production cost variances, investigate the causes and prepare cost of sale Journal Voucher (JV)
• Prepared periodic business review and balance sheet review.
Significant Accomplishments Across Career:
El Hadega Hotel
• Managed to maintain a high occupancy rate by adopting a flexible payment terms and a marketed oriented approach.
FUNCTIONAL EXPERTIES:
Accounts Receivable & Payable:
• Drove and control Account Payable Package in MCBA and prepare monthly cost of sales JV and Inventory control and valuation. Generate monthly management reports and participate in preparing budgets and forecasting.
• Drove and control the Receivables Accounting Package and co-ordinate on a weekly basis with regional accountant for overdue collections. Confirm customer’s balances and ensured customer credit card completed.
• Prepare sales report & average realization report on daily basis and generate weekly sales reports to Dallas (U.S.A.).
• Analyze monthly the Discount & Compare with period forecast/AOP.