Finance Director MENA
Olayan Food Division
Total years of experience :28 years, 2 Months
Key Responsibilities:
Strategic:
•Provide advice to Regional Director, Managing Director and Business Leaders to assist in the formulation of business strategy.
•Coordinate financial projections reflecting strategic direction.
•Edit, draft or write papers for presentation to EXCO (executive committee) on business matters which have a financial implication ensuring cash flows, profit, risk and returns on investment are properly considered.
Commercial:
•Ensure optimal terms for bids and contracts including pricing, conditions, cash flow and liability management.
•Ensure all contractual terms are reduced to written contracts in liaison with Legal Counsel.
•Give guidance to Regional Management and Business Leaders on financial, commercial or operational matters including remuneration, benefits, profitability, investment and capital issues.
Leadership & Management:
•Drive high performance and technical excellence across the finance team.
•Direct management responsibility for MENA - based finance department handling all back office accounting functions.
Financial Management:
•Management of Board Reporting and forecasting for the operational aspects of the business, including management of operations risks and opportunities.
•Contribute to the formulation of Corporate Strategy by developing medium to long-term operational forecasts and leading the annual strategic planning and budgeting process.
•Provide consultation to the business, decision support and evaluation of the business and provide finance strategy, operational performance.
•Analysis of the business results. This will include review, analysis and consultation of the monthly financial results and their comparison with the budgeted performance.
Key Responsibilities:
FINANCE
Reporting:
•Preparation, analysis and reporting of periodic performance and operational reports for presentation to the business unit and the senior management team.
•Periodic submission of financial reporting pack to group office.
•Support quarterly business review with the business unit.
Strategic Planning:
•Work with the business unit providing support as they develop their annual strategic plans, encompassing scan of market environment, analysis of the current market, outline of future plans and strategies, gap analysis, KPI's and target setting.
•Due diligence for acquisitions of new brand.
Budgeting/ Forecasting:
•Management of Board Reporting and forecasting for the operational aspects of the business, including management of operations risks and opportunities.
•Contribute to the formulation of Corporate Strategy by developing medium to long-term operational forecasts and leading the annual strategic planning and budgeting process.
•Work with the business unit to facilitate the annual budgeting process.
•Work with the business unit to develop quarterly and full year forecast.
Operational activities:
•Provide consultation to the business, decision support and evaluation of the business and provide finance strategy, operational performance.
•Analysis of the business results. This will include review, analysis and consultation of the monthly financial results and their comparison with the budgeted performance.
•Develop detailed commentaries on the variance analysis.
SUPPLY CHAIN
•Provide direction, guidance, and leadership to the supply chain network related to associates, service, inventories, demand and supply planning.
•Planning of all procurement, supplier management, inventory control, in bound freight logistics and scheduling activities.
•Develop and implement supplier strategies that improve supplier quality and reduce lead times, material costs, and inventory levels.
•Creating / improving supply chain procedures and insuring department / cross functional department compliance.
•Work closely with marketing to create a demand planning process for existing and new product pipeline.
•Establish and promote a work environment among co-workers and direct reports that is focused on the customer, builds team, and supports company policies.
FINANCE
Reporting:
•Preparation, analysis and reporting of periodic performance and operational reports to the business unit and the senior management team.
•Support quarterly business review with the business unit.
Strategic Planning:
•Work with the business unit providing support as they develop their annual strategic plans, encompassing scan of market environment, analysis of the current market, outline of future plans and strategies, gap analysis, KPI's and target setting.
Budgeting/ Forecasting:
•Management of Board Reporting and forecasting for the operational aspects of the business, including management of operations risks and opportunities.
•Contribute to the formulation of Corporate Strategy by developing medium to long-term operational forecasts and leading the annual strategic planning and budgeting process.
Operational activities:
•Provide consultation to the business, decision support and evaluation of the business and provide finance strategy, operational performance.
•Analysis of the business results. This will include review, analysis and consultation of the monthly financial results and their comparison with the budgeted performance.
•Develop detailed commentaries on the variance analysis.
AUDIT
•Heading the Department of Internal Audit for OFD for Middle East and North Africa current operating equity markets are KSA, UAE, Oman, Egypt & Morocco.
•Setting direction of Internal Audit Function which includes Risk identification, assessments and Risk Based Audits.
•Assessing the overall control environment with the purpose of detecting significant loss potential, waste abuse or fraud.
•Special assignments, investigations and enquiries entrusted by Management.
•Ensure strategic alignment to business goals & objectives by appraising the economy and efficiency with which resources are employed, identify opportunities to improve operating performance, and recommend solutions of problems where appropriate.
•Functional departmental supervision of Finance, Supply Chain Management, Warehousing & Distribution, Corporate Affairs and Taxation.
•Financial Reporting and Comparative Analysis on the basis of SBU’s concept
•Responsible for maintaining and compliance of Tax & Corporate Secretarial records
•Reporting of market trends, supply chain updates and future market analysis of local and foreign.
•Equipment sourcing and ensure the availability at JIT.
•Responsible for daily treasury operations, including cash management.
•Responsible for cash flow planning and administrative work in relation to treasury.
•Dealing with the Company’s bankers in matters relating to daily business.
•Monitoring of project payments from cash flow and financial management perspective.
•Assist budgeting department in preparing budgets and forecasts.
•Providing support to all departments on financial analysis and reporting.
•Reviewing existing procedures and suggesting changes which need to be reflected in operations.
•Reviewing along with the store operations team and stores admin staff the procedures to identify areas of inefficiency.
•Ensuring an adequate implementation of processes in new business/stores.
•Conducting periodic compliance reviews to ensure effective implementation and minimize the risks.
•Highlighting to the Senior Management areas of inadequate compliance performance at store level in all brands.
•Reviewing and advising on all internal audit reports of the stores for all brands and interacting with internal auditors to ensure that all major risk areas are covered under the audit program.
•Reviewing proposed IT system changes for store operations to ensure that control aspects have been adequately addressed.
•Carrying out pre-implementation testing and assist in the implementation of the systems in the stores.
•Reviewing and identifying the best practices adopted in a particular business or related industries.
•Maintenance of General Ledger.
•Maintenance of Royalty Remittances and correspondence with franchisor.
•Liaison with leasing co’s for acquiring & termination of leasing agreements.
•Fixed Assets Management.
•Liaison with Banks, Leasing & Insurance Companies, Tax & Corporate consultants, Financial Auditors and Government Auditors of various departments.
My Audit experience consists of diverse audit and other assignments in various sectors including insurance, pharmaceutical, Oil & Gas, manufacturing and service sectors with major focus on food industry.
Key Responsibilities:
•Planning and preparation of audit.
•Preparing Audit Program.
•Detailed review of clients Accounting and Internal Control systems.
•Ensuring Compliance with ISA & IAS.
•Ensuring compliance of foreign reporting and regulatory requirements.
•Audit findings, conclusions and recommendations.
Certified Internal Auditor
Certified Information Systems Auditor
Master of Business Administration