Financial Director
Europcar Egypt
Total years of experience :34 years, 7 Months
• Plans, develops, organizes, implements, directs and evaluates the organization's fiscal function and performance.
• Participates in the development of the corporation's plans and programs as a strategic partner.
• Develops credibility for the finance group by providing timely and accurate analysis of budgets, financial reports, and financial trends in order to assist the CEO/Chairman, the Board and other senior executives in performing their responsibilities.
• Assesses strategic and financial merits and risks of potential and currently operational projects.
• Partners with non-financial areas of the business on growth initiatives and internal expansion
• Provides executive management with real-time financial data and analysis
• Presents the CEO and Board with the organizations’ financial position relating to the period which has been over, and the period which has to come, that is the financial position attained and the financial projection( i.e. where the organization will be.)
• Establishes credibility throughout the organization and with the Board as an effective developer of solutions to business challenges.
• Provides technical financial advice and knowledge to others within the financial discipline.
• Continually improves the budgeting process through education of department managers on financial issues impacting department budgets.
• Optimizes the handling of bank and deposit relationships and initiate appropriate strategies to enhance cash position.
• Develops a reliable cash flow projection process and reporting mechanism that includes minimum cash threshold to meet operating needs.
• As an advisor, from the financial perspective, on any contracts into which the corporation may enter.
• Evaluates the finance division structure and team plan for continual improvement of the efficiency and effectiveness of the group as well as provide individuals with professional and personal growth with emphasis on opportunities (where possible) of individuals
• Responsible for the direct supervision of the controller and the indirect supervision of all employees in the accounting and finance department.
• Assist in performing all tasks necessary to achieve the organization's mission and help execute staff succession and growth plans.
• Work with the President/CEO on the strategic vision including fostering and cultivating stakeholder relationships on city, and national levels, as well as assisting in the development and negotiation of contracts.
• Participate in developing new business, specifically: assist the CEO in identifying new funding opportunities, the drafting of prospective programmatic budgets, and determining cost effectiveness of prospective service delivery.
• Develop and maintain systems of internal controls to safeguard financial assets of the organization.
• Attend Board and Subcommittee meetings; including being the lead staff on the Audit/Finance Committee.
• Monitor banking activities of the organization.
• Prepare monthly financial statements and report; monitor cash balances to ensure adequate cash; maintain budgetary control records.
• Oversee, review, audit, and approve all accounts payable, purchase orders, cash receipts, business licenses, payroll, utility billing, and other accounting records and transactions; prepare, review, correct and distribute expenditure reports to all department(s).
• Prepare a variety of analytical, financial and management reports and ensure that it complies with the K.P.I of the Foundation.
• Oversee and coordinate the fiscal year end process, ensuring the accurate and timely closing of the year end books for auditing functions and costs are kept to a minimum for the benefit of the Foundation.
• Provide supervision and direction to the Finance Department staff to ensure the Foundation’s financial goals and objectives are met and that all financial records and cash flows are accurate, up-to-date and processed efficiently and in a timely manner.
•Margins and volumes analysis consolidating and analyzing results for the management
•analyzing financial performances, proposing and implementing actions to support strategy
•ensuring control and compliance with group & sector standards
•improving payback analysis from the financial point of view on all business decisions
•Ensuring effective management of working capital working closely with company credit manager and
professional logistic manager
•analyze business operations, contractual commitment and follow up the evaluation of actual results
•prepare the budget with the local team and central management and follow up the evaluation of actual results
compared to budgeted targets
•Credit limit evaluation together with local credit manager in order to guarantee proper authorization at
The local and central level according to group and sector credit policy
•responsible for reporting according to group / Sector requirements and work in direct connection with
finance director / Head of accounting to guarantee compliance of business processes also for
statutory / tax regulation business reporting to follow up the action defined by local professional team
•ensure integration of professional ERP system in local finance system in order to create a complete
reporting package for the professional sector division
•Analyze business operations, contractual commitments and follow up projects from financial point of view
•Analyze reporting to highlight main deviations compared to previous year and budget plans and ensure
proper business reporting to follow up the actions defined by local Professional team
•Analyzing financial performances, proposing and implementing actions to support strategy
•Credit limit evaluation together with local credit manager: in order to guarantee proper authorization at The local and central level according to Group and Sector Credit policy
•Ensure integration of Professional ERP system in local finance system in order to create a complete
reporting package for the Professional sector division
•Ensuring control and compliance with Group & Sector standards
•Ensuring effective management of working capital working closely with company credit manager and
Professional logistic manager
Further responsibilities:
•Improving payback analysis from financial point of view on all business decisions
•Margins and volumes analysis consolidating and analyzing results for the Management
•Prepare budget with local team and central management and follow up the evolution of actual results
compared to budgeted targets
•Responsible for reporting according to Group/Sector requirements and work in direct connection with
Finance Director / Head of Accounting to guarantee compliance of Business processes also for statutory/tax
regulations
•Assist the department heads in the preparation and submission of the annual budget for review and approval
•Assist the Executive Director and the Board Treasurer with Financial reporting as required at Board meetings and the annual General meetings and provide advice to support the decision making process
•Conducting the review of major terms of contracts and agreements in conjunction with Corporate Legal Consultant.
•Designed cost control format including all types of expenses
•Develop and implement policies and procedures as required to ensure that personnel and Financial information is secure.
•Develop and maintain timely and accurate financial statements and reports that are appropriate for the
Users and in accordance with generally accepted accounting principles (GAAP).
•Developing, managing and motivating a team of finance professionals.
•Discuss and finalize the bank agreements
•Ensuring implementation of international best practices, ethical standards and financial governance,
reporting and procedures to enhance company’s image.
•Established documentary flowchart for the company and prepared job description for all account department staff
•Evaluates current accounting practices and policies and drives continuous improvement.
•Feasibility studies, business plans and financial statements preparation and analysis
•Identify areas of waste and inefficiency to take corrective measures
•Implementing and controlling the quality management program ISO 9001-2000 (working as QMR in two company )
•Increased profit margins by analysis of costs and pricing from financial view .
•Increased profitability of projects by producing models to make resource allocation more efficient
•Insure adequate controls are maintained over inventory levels and advise management regarding variances
Access stock, expired items, unauthorized purchases, malpractice if encountered any.
•Inter-Companies and share-holders accounts consolidation
•Involved in Business Planning, P&L, Balance sheet & liquidity planning.
•Involved in finalizing contract agreements for suppliers and / or contractors
•Manage the cash flow and prepare cash flow forecasts in accordance with policy.
•Monitor complaisance with company financial policies and procedures and report explications
•Monitoring accounts functions; financial analysis and reporting, treasury, payroll activities, works closely with department heads to provide accurate and timely information about company activities that assists management in making rational economic decisions to enhance company profitability.
• Manage the accounting, investor relations, legal, tax, and treasury departments.
• Monitor and direct the implementation of strategic business plans, Develop financial and tax strategies & Develop
Performance measures that support the company's strategic direction.
• Participate in key decisions as a member of the executive management team
• Formulate group accounting policies and common standards jointly with CFO.
• Supervise and assist in the consolidation and publication of financial statements on monthly and annual basis
• Budgeting and business review of the whole group. Monitoring variances and depth analysis.
• Cash & fund management. Exposure to banking and treasury functions.
• Prepare feasibility studies, corporate valuation reports & special assigned projects.
• Facilitate the flow of financial information for interested managers.
• Supervise, manage and train staff in the most effective way.
•Responsible for year-end closing &the preparation of the monthly financial statements.
•Prepare monthly, quarterly and year end management financial reports.
•Review and approve all payment transactions: reimbursements, payments, vouchers, checks, etc.
•Handles year-end-closing and monthly financial statements.
•Review balance sheet account reconciliations.
•Liaise with external government institutions and act as the main contact for internal and external audits.
•Respond to all queries related to financial matters.
•Recommend & draft financial and accounting policies and procedures.
•Review and approve journal vouchers.
•Reviews, investigates & corrects errors & inconsistencies in financial entries, documents, and reports.
•Coordinate the accurate & timely payment of suppliers.
•Assist in the preparation of yearly budgets.
•Administer all balance sheet account’s reconciliations.
•Act as the point of contact for queries related to employee and supplier payments.
•Reviews A/P & weekly check runs & Transfers.
•Determines proper handling of financial transactions and approves transactions within designated limits.
•Compiles & analyzes financial information to prepare entries to general ledger accounts, cost centers and
documents business transactions.
•Responsible for distributing financial statements & cost center reports.
•Responsible for year-end closing &the preparation of the monthly financial statements.
•Prepare monthly, quarterly and year end management financial reports.
•Review and approve all payment transactions: reimbursements, payments, vouchers, checks, etc.
•Handles year-end-closing and monthly financial statements.
•Review balance sheet account reconciliations.
•Liaise with external government institutions and act as the main contact for internal and external audits.
•Respond to all queries related to financial matters.
•Recommend & draft financial and accounting policies and procedures.
•Review and approve journal vouchers.
•Reviews, investigates & corrects errors & inconsistencies in financial entries, documents, and reports.
•Coordinate the accurate & timely payment of suppliers.
•Assist in the preparation of yearly budgets.
•Administer all balance sheet account’s reconciliations.
•Act as the point of contact for queries related to employee and supplier payments.
•Reviews A/P & weekly check runs & Transfers.
•Determines proper handling of financial transactions and approves transactions within designated limits.
•Compiles & analyzes financial information to prepare entries to general ledger accounts, cost centers and
documents business transactions.
•Responsible for distributing financial statements & cost center reports.
•Monthly financial presentation - budget VS, actual with financial summary highlights & comments
•Overseeing all aspects of financial control in the business.
•Overseeing internal financial controls.
•P&L Analysis & balance sheet substantiation
•Participate and design new products ( financially point of view )
•Performance Measurement through KPI Analysis
•Planning, Budgeting & Variance Analysis
•Pre-budget preparation under instructions of the financial controller plan.
•Preparation and reporting of income and expense forecast to senior management.
•Preparation of financial reports (Trial Balance, Balance Sheet, Income Statement and Statement of Cash Flow)
•Preparation of high-level FY Estimates based on FCST 8+4 results
•Preparation of management information from source data.
•Prepare all supporting information for the annual Audit with the approved external auditor.
•Preparing Receivables and Inventory aging and write-downs analysis and comments
•Presenting monthly results, budget variances, and ad-hoc analysis.
•Produced documents for successful management buyout
•Produced investor's document for Venture Capital to facilitate purchase of competitors to achieve
Consolidation of the industry.
•Bank Reconciliation
•Enteries of Journal Vouchers and posting transactions to General Ledger
•Holding fixed assets and Depreciation
•Raising Accounting and financial reports to the CFO
•Statements of Accounts Payable and Accounts Receivables’
•Trial Balance and Balance Sheet Preparation