Head of compensation and benefits department
Al-MajalG4S
Total years of experience :26 years, 2 months
Responsible for managing the entire staff compensation and benefits department, this is responsible for 12K employee. Covering all aspects of compensation and benefits up to monthly closing.
Al-MajalG4S is a joint venture between Al-Majal (with more than 30 years’ experience in Saudi Arabia in both the Facility Management and Security fields), and G4S (the largest Security solutions provider in the world). The Saudi operations service all 13 districts of the country with more than 17, 000 employees. Today G4S operate in over (120) countries with over (585, 000) employees.
Work responsibility:
• Drive initiatives to ensure compliance with operational processes, as well as driving business improvements in terms of current cash replenishment process and how this can be improved to mitigate potential risks
• Develop new cash reconciliation process which helps in reducing the valid claims by 20% - 30% through forcing compliance with contracts.
• Support Cash reconciliation activities through evaluating, monitoring and advice the team were needed.
• Building a word class investigation team and continuous improvements for staff and other resources to investigate and resolve complaints in accordance with G4S Procedures and Policies and in line with agreed contracts.
• Liaise with various internal and external stakeholders (local senior management and regional management.
• Negotiation and forming agreements with Banks relating to handling of claims and reconciliation procedures that identify the company’s liability.
• Assess and provide feedback on the monthly financial impact of the unsettled bank claims.
• Provide recommendation for improvements of business process, current procedures, reporting quality and timing.
• Develop the concept of reconciliation officers at the cash centre which help to detect any potential losses and shortages on spot and that reduces shortages by 20 % through creating self-awareness by the teams.
• Implementation of staff rotation on the department to achieve continuous staff development, exposure to different function of the department and motivate the staff.
• Influence bank compliance with agreed contracts through conducting workshops with the reconciliation teams from both parties and step by step agreeing on the process.
• Develop proactive procedures to report any potential exposure through daily reconciliation of reported shortages equal or above SR 3K.
• Provide daily / weekly and monthly feedback on potential risks and highlight ATM’s / Teams with the high potential losses.
• Develop KPI’s to measure the performance of each section on the department.
• Lead a team for making sure that financial activates are in line with local and group processes and procedures.
MSS& ESS is under Al-MajalG4S with a turnover of SR 500 million.
Work Responsibility:
•Overseeing and full accountability of the financial management for the two business units (MSS& ESS).
•Support the COO in identifying the loss making contracts and give recommendation on what is next with these contracts.
•Participate in compiling the country finance manual in relation to these two businesses which used as a guidance to manage overall financial aspects of the company.
•Evaluation of the business units accounting principles and policies, practices and procedures regarding the maintenance of fiscal records and making sure that they are in line with the country finance manual.
•Ensuring timely preparation of Business Units’ detailed financial budgets and cash flows by working closely with Budget Holders and Line Managers.
•Preparation, monitoring and discussion of the financial statements (balance sheet, Income statement, cash flows), also perform variance analysis justification with the business units heads.
•Making sure that proper relevant and reliable information communicated with senior management through integrity of the information reported.
•Preparing annual financial statements and liaising with concerned external and internal stakeholders (external / internal auditors) to ensure all requirements are met.
•Secure solid governance and sound control environment by improving existing processes and continuously review and enhancing controls in both divisions (MSS& ESS).
•Drive business division’s growth and profitability through identifying opportunities and risks in the current business model and co-pilot the divisional heads team to implement the recommended actions.
•Ensuring the collections of the Accounts Receivables is in line with the set monthly targets and drive actions across the divisions to collect all outstanding or old amounts.
•Drive the implementation the new Time & Attendance system for MSS business "SATURN" through leading a multifunctional team to ensure the accuracy of the payroll, revenues and Accounts receivables.
PricewaterhouseCoopers is a multinational professional services network. It is the world's second largest professional services network, as measured by 2014 revenues, and is one of the Big Four auditors, PwC is a network of firms in 157 countries with more than 195, 400 people. It had total revenues of $34.0 billion in FY 2014
Work Responsibility:
•Developing and maintaining productive relationships with clients’ management.
•Preparing audit proposals for the prospective clients and assignments.
•Performing of risk assessment and agree on how to address these risks and what audit approach is the suitable for mitigating these risks.
•Applying a Variety of auditing procedures and techniques to the financial transaction.
•Preparation of audit working papers covering the sampling, testing and concluding on the review.
•Preparation of written explanations and comments on the findings of the examinations and on the contents of accounting records.
•Preparation and analysis of financial statements together with explanations and notes thereon.
•Identifying and resolving technical accounting issues were identified.
•Reviewing and documenting clients' accounting procedures and evaluating the internal controls.
•Preparing management reports.
•Supervising, training, evaluating motivating and developing assistant auditors.
•Performing special assignments like review, compilation and agreed upon procedures engagements.
•Lead a group audit team to finalize the audit of local entities.
Ernst & Young (known as EY) is a multinational professional services firm. It is one of the "Big Four" audit firms and is the third largest professional services firm in the world by aggregated revenue in 2014.The organization operates as a network of member firms which are separate legal entities in individual countries. It has 190, 000 employees in over 700 offices around 150 countries in the world.
•Same responsibility as mentioned in the above detail of experience.
Saudi Research and Marketing Group (SRMG) is a Saudi joint stock company registered in Riyadh. The group mainly publishes prints and distributes various publications.
Work Responsibility :
•Implement and manage the yearly plan cycle (Schedule, submission, formats, and systems).
•Compile the full year budget for the group companies and work hand on hand with the finance department of each company to insure proper budgets.
•Lead the meetings for forecasts and maintain adequate support to ensure full transparency in financial matters.
•Implement budget tracking and analysis of variances.
•Identify areas of savings in costs and expenses.
•Maintain historical performance date of the group companies.
•Work with the accounting and IT to establish monthly accounting and reporting by publications.
•Prepare monthly and quarterly package to the board and the chairman’s.
•Take the lead to develop effective management information systems by analysis and measurements of the related publications.
•Applying a Variety of auditing procedures and techniques to the financial transaction.
•Preparation of audit working papers covering the examination of the accounts of the financial statements.
•Planning the program of audit work including the selection of the procedures to be used and followed.
•Preparation of written explanations and comments on the findings of the examinations and on the contents of accounting records.
•Preparation and analysis of financial statements together with explanations and notes thereon.
•Identifying and resolving technical issues.
•Reviewing and documenting clients' accounting procedures and evaluating the internal controls.
•Preparing management reports.
•Supervising, training, evaluating motivating and developing assistant auditors.
•Performing review, compilation and agreed upon procedures engagements.
•Preparation a letter on our findings to management and suggestion of the corrective action, which should be taken.
Same as what's mentioned above in the previous experience since it was just a change of a company name.
•Preparation of Budgets for the Group Management.
•Providing timely management reports.
•Preparation of financial ratio analysis.
•Trends and performance analysis.
•Verifying variances between budgets and actual results and communicate that with the Chief Financial Officer.