Financial Manager
Emperor Int. Co. (Saudi Based Group of Companies)
Total years of experience :18 years, 2 months
Achievement :
1- Successfully negotiated for 40 Million SR banks credit facilities.
2- Admin & General expenses decreased by a significant 35% during the years 2015:2012.
3- Sales increased by 18% during the years 2015:2012
4- Developing a new collection system that reduced outstanding sums, which helped in reducing banks interests.
5- Successfully implemented an ERP system across a broad range of the company's branches.
Tasks & Duties :
• The main task was to establish an accounting cycle / accounting chart / cost centers / inventory items / bylaws & organizational structure.
• Timely and accurate recording of all financial transactions in line with organizational requirements and deadlines.
• Achieves accounting operational objectives by solving problems; completing audits; identifying trends; determining system improvements; implementing changes.
• Meets accounting financial objectives by forecasting requirements; preparing an annual budget; scheduling expenditures; analyzing variances; initiating corrective actions.
• Confirms financial status by monitoring revenue and expenses; coordinating the collection, consolidation, and evaluation of financial data; preparing financial statements including and not limited to # detailed income statements # statement of financial position # cashflow statement # statement of changes in equity and other special reports.
• Establish and prepare accurate and timely information for budget monitoring and progress reporting.
• Guides other departments by researching and interpreting accounting policy; applying observations and recommendations to operational issues.
• Establish and implement financial procedures in line with organisational requirements.
• Timely and accurate recording of all financial transactions in line with organisational requirements and deadlines.
• Establish and prepare accurate and timely information for budget monitoring and progress reporting.
• Provide financial management advice on revisions of budgets, preparing periodical forecasts and any changes needed.
• Coordinate and lead the annual audit process, liaise with external auditors and the finance committee of the board of directors; assess any changes necessary.
• Manage organizational cash flow and forecasting.
• Implement a robust contracts management and financial management/ reporting system; ensure that the contract billing and collection schedule is adhered to and that financial data and cash flow are steady and support operational requirements.
• Monitoring of the petty cash and bank balances to ensure sufficient funds are always available.
• Update and implement all necessary business policies and accounting practices; improve the finance department’s overall policy and procedure manual.
• Management and control Control of salary payments to staff, including national insurance and tax liabilities, reconciling the same and monitoring medical expenses, subsistence allowances, mobile phone usage, etc.
• Recruit and manage Finance/Administration staff in line with good organisational practice.
• Identify, establish and manage an effective working office for the organization.
• Establish and manage all procurement and logistics activities including possible management of vehicles and drivers.
• Effectively communicate and present the critical financial matters to the board of directors.
• Work closely and transparently with all external partners including third-party vendors and consultants.
* Managing daily financial transactions related to accounts receivable, accounts payable, payroll, reporting and ensuring that all deadlines are met and all entries are assigned to proper accounts.
* Preparation and issuance of bills, invoices, account statements and other financial statements according to the established procedures.
* Preparation and issuance of cash payments, current and post dated checks for utilities and other payables.
* Reconcile records of bank transactions, monitoring status of loans and bank accounts to ensure that payments are up to date and credit facilities are well utilized.
* Calculate the bank debit and credit interest, overhead and other expenses related to delay in collections from the clients.
* Negotiate credit facilities extensions when necessary.
* Maintaining all kinds of guarantees to others & from others.
* Direct insurance negotiations; recommend insurance brokers and carriers to the management.
* Modify, update and maintain existing insurance policies.
* Process and record new insurance policies and claims, calculate premiums and adjustments using the insurance rate standards and contact insurance companies to check on the status of claims and discrepancies if any.
* Confer with clients by telephone or in person to determine reasons for overdue payments
* Prepare and review collection reports to determine the status of collections and the outstanding balances
* Negotiate with payables and receivables for debt repayment or establish repayment schedules based on the company’s and/or customers' financial status.
* Coordinate the activities and the current accounts with head quarter, other branches.
* Perform several office tasks, provide support for the group financial & Administration manager including but not limited to writing external letters and internal memos, conducting calendar management, filing & keeping of confidential documents, coordinating and scheduling of meetings and appointments, travel arrangements.
* Reconcile records of bank transactions.
* Follow up staff petty cash and all other cash transactions.
* Follow up checks from customers.
* Handling guarantees from and to others