chief financial officer cfo
KGH
Total years of experience :21 years, 10 Months
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* Led the restructuring plan to reduce operational expenses by 10%
* provided a SWOT analysis on the financial status and recommended solutions to improve the financial ratios
* enhanced the finance department SOP’s and developed department workflow and automated the functions that add value to clients
* enhanced the competencies of all the departmental employees through relevant trainings to increase their productivity and also increased employee rewards and recognition programs
*designed and implemented a service level agreement between finnce department and internal customers in order to serve them better
* enhanced finance department’s organizational struture and optimized the highest efficiency level of the employees and minimized monthly payroll
* succefully managed to convert short term loans into long term to maintain solvencey and liquiduty as a consequence of distressed market situation
Key Responsibilities:
• Facilitate the understanding and decision making of Board of Directors on company’s financial performance through IFRS reporting methods/techniques against the set business plans and targets.
• Establish business risk management analysis and provide feasible alternative solutions to business progress and profitability.
• Analyze group’s annual budgets with the inputs of respective functional Heads and finalizing the group’s annual budgets to establish outlook forecasting and report variances and progress to CEO from time to time on the approved budgets.
• Managing risk in relation to setting and achieving the organizations objectives and implementing and monitoring effective internal control systems.
• Propose feasible, ethical and legally complied cost control plans to the CEO and initiate control progress tracking guidelines or support for smooth implementation of approved plans.
• Approve the finance organizational structure including any amendments in line with the approved manpower budgets.
• To lead an efficient and effective Finance & Accounts functions guiding the organizations to efficiently use the resources at the same time delivering value to the customers.
• Ensure quality control over financial transactions on sales and collections and manage the reporting process, procedures and systems.
• Ensure all the activities of the function are in compliance with the company policy on financial operations and country regulations on company operating standards.
• Overseeing cash flow and working capital statements and providing the budgeting analysis of cash flow to the board of directors.
• Improve the timelines, accuracy, and relevance of the financial management information provided by the team.
• Ensure that all new recruits understand their job and undergo the company orientation program.
• Ensure skill development of employees through Learning & Development.
• Monitor and appraise the performance of staffs in coordination with Finance Manager and developing individual career plans.
• Set Goals for direct reports and conduct performance appraisal.
• Oversee staff deployment and drive motivation levels of the direct reportees.
* Played key role in planning and implementing new ERP system (SAP B1) and restructuring finance departments across the group leading to enhanced operational efficiency *
* Distinguished for enhancing collections vs credit sales and lowering DSO by 20 days despite market volatility*
* Instrumental in setting up and maintaining credit record next to suppliers enabling banks to facilitate line of credit for the organization*
* Successfully reduced fixed expenses by 9% YOY*.
Generated savings of 20% of Zakat liability by recommending write off of bad debts and absolute inventory*
Key Responsibilities:
Managerial Activities
• Spearhead commercial aspects of the business and implement strategic initiatives of the group aimed at accomplishing organizational P/L.
• Enhance operational efficiency by highlighting operating issues/ challenges and implementing effective remedial measures.
• Coordinate with Senior Management Team and Departments heads in conducting in-depth analysis, managing risk and corporate insurance requirements.
• Assist the senior management in implementing/ realigning strategic business plans by highlighting organizational financial health and other market scenarios.
• Set up and ensure compliance to policies and procedures of the organization and corporate governance to enhance operation and effectiveness of the Company.
Finance & Accounts Management
• Prepare and present organizational short, mid and long -term cash forecasts, annual budget and five-year forecasts aligned to key performance metrics.
• Follow up with concerned stakeholders for managing VAT requirements and other central and state taxation related issues.
• Represent the organization in negotiating major financial deals with banks and financial institutions for obtaining favorable terms for acquired funds.
• Manage financial operations of subsidiary companies, issuance of consolidated financial statements for reporting financial results to the board of directors.
Operations & Admin
• Guide team members in conducting project feasibility encompassing financial projections, sensitivity analysis, financial ratios and operational metrics aimed at maintaining profitability across existing and future projects.
• Assess key performance indicators and conduct variance analysis to realign investment of funds to changing market dynamics and other related factors.
• Recommend and implement various finance-related procedures, processes based on organizational policies and other statutory regulations.
• Coordinate with various support teams pertaining to internal and external audits and ensuring effective implementation of audit recommendations.
• Highlight risk issues to the audit committtee of the board of directors for resolving potential risk elements in the company profile.
* Played key role in developing group model COA as an owner of finance module implementation and rollout for JDE Oracle project *
*Successfully streamlined operations by setting up group-wide business planning processes across all businesses and supporting units; reengineering financial processes by automating payments & settlements *
*Actively involved in developing financial models and business plans as well as negotiating various financial arrangements*
* Defined and implemented new policies & procedures for identifying and mitigating risks*
*Minimized fixed expenses across the board by 8% by implementing effective cost reduction initiatives*
Key Responsibilities:
• Guided Financial Reporting, Accounting & Internal Controls, Financial Analysis, Forecasting & Budgeting and Cash Flow Management teams in managing day to day financial operations of the organization.
• Functioned as member of the executive management team involved in implementing various operational and financial policy decisions.
• Rendered consultancy on financial implications of acquisitions, investment of funds as well as facilitating debt financing.
• Prepared and ensured compliance to organizational budgets and maintained operational metrics as well as organizational P/L.
• Represented the organization in planning, forecasting, pricing, deal negotiations based on identified business opportunities.
• Managed administrative aspects related to conducting due diligence, enhancing ROI by resolving potential risks. Rendered operational support in implementing capital raising strategies and group expansion plans.
• Participated in supplier negotiations for obtaining longer trade terms, enhancing supply chain service leading to shortened delivery lead time.
• Set up financial models and business plans to negotiate specific financing arrangements
• Realigned finance-related procedures, processes and restructured finance departments of the group based on prevailing market conditions and other related factors.
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