Finance Manager MEATCA
Kingspan Insulated Panels MEATCA
Total years of experience :17 years, 6 Months
Kingspan is a building materials company based in Ireland. Kingspan is the global leader in high-performance insulation and building envelope solutions. Improving building performance, construction methods and ultimately people’s lives.
Kingspan today is a €4.4bn revenue group with five main business streams across 129 manufacturing sites in over 70 countries, employing some 15000 people.
Kingspan Insulated Panels MEA, Turkey & Central Asia is a €1.5bn division within Kingspan Group, a global manufacturer of innovative building products for a low energy future.
Main Responsibilities include:
• Development and timely preparation of relevant financial and business information to
provide management with the tools for effective commercial and investment decision
making.
• Responsible for reporting and understanding the manufacturing and purchasing
efficiency of the site through developing an in-depth knowledge of the site’s products,
bills of materials, standard costing, and manufacturing variances.
• Ensure all financial and commercial decisions take place within the control framework and
regional authority matrix.
• Takes the lead in dealing with both External and Internal auditors ensuring control
environment and financial accounts are signed off to the highest standard.
• Responsibility for ensuring that the monthly accounts are prepared on time and that
the business control environment is (at a minimum) in accordance with the Kingspan
Group audit manual.
• Ensures that all internal reports are compiled and presented to the highest standard in
line with deadlines. These include weekly flash, management pack, commercial
analysis, etc...
• Ensures that the Finance team is adequately motivated, monitored and
professionally trained to deliver the high-quality output to all areas of the business.
• Ad hoc reporting and analysis on SAP Business Warehouse and month-end consolidation into the INFOR Corporate Performance Management tool.
• FP & A - Financial Planning & Analysis tasks for Olympus Divisions (Medical & Industrial).
• Support product Sales Managers with Analysis for Active orders, back orders, in order to track the monthly target and follow up pending orders.
• Perform Monthly Trend Analysis for Business Units and distribute it for respective Divisions and Sales Managers.
• In Charge for Consolidation of MEA Financials at month end.
• Providing Ad-hoc reporting, e.g. Pricing and Margin Analysis for Spare parts, Month to date and year to date, Actual vs. Plan Service Repairs volume & Margin Analysis
• Monitor AR aging by providing ad hoc daily report and recommend actions for risky & overdue Accounts Receivable.
• Monitor ‘’SG & A’’ Actuals vs. Plan on monthly basis and interpret the variance.
• Conducting Divisions Budgeting, Planning and Forecasting on BOARD Business intelligence Planning Tool.
• In Charge for Middle East annual SOX Audit
• Key contact for Letters of Credit, Bank Guarantees and performance Bonds for different Middle East Distributors.
Key Achievements:
• Setting up the internal procedures for the Middle East business
• Designing the ad hoc reporting for the corporate divisions with advanced skills on Excel and IBM Cognos business Intelligence tool, SAP FICO -SAP CRM, Oracle Hyperion Financial Management HFM
• Supporting financial management with decision making, Business plans, and forecasting
Projects Implemented with Impact on Increasing Revenue, Lowering Cash Conversion Cycle and Inventory Turnover ratio:
• Designing Excel Model from IBM Cognos to control the daily service center margin based on costs of: labor per hour, spare parts to monitor odd Margin based on defined threshold.
• Developing Inventory Aging Analysis Excel Model to monitor the slow moving items, dead stock and most frequent used items based on master data from IBM Cognos Tool
• Developing Automated AR Aging Report from IBM Cognos for Corporate divisions which eliminate payments and display riskiest AR based on the large number of days overdue.
Accounting & Finance:
• Supervising the team of Finance Staff in Gulf region; Monitoring the performance and Reporting staff KPI’s to the Group Finance Director.
• Ensure Journals in GL are in compliance with company’s policies Accounting Principles.
• Ensure adherence of local accounting practices and laws across Dubai, KSA, Qatar, Oman and Kuwait are being followed as per the Company’s Procedures and IFRS.
• Monthly Review and analysis of balance sheet and P&L to ensure accuracy of records.
• Validating the Reconciliation of intercompany balances on monthly basis.
• Frequent Analysis of A/R Balances, and advise proper action for overdue balances.
• Supervising for end month closings and reconciliations including reevaluation & Justification entries, provisions, depreciations and profit & loss booking.
• Handle Bank Guarantees, insurance policies and all related bank correspondence
• Cash Management for Group Bank Accounts and Monitoring Cash Flow.
• Manage the controlling of fixed assets and oversee all capitalization, disposals and segregation of acquisitions aligned with IFRS protocols.
• Online Payroll Processing (WPS) & Review Payments for Staff and Suppliers to ensure meeting deadlines & Proper Documents.
Planning & Analysis:
• Collecting data to determine costs of business activity such as, inventory, Importing Charges, Custom Charges and labor.
• Provide frequent ad Hoc analysis of financial data, consolidated results, e.g. Variance Analysis, Actual Vs. Budget,
• Quarter Budget Forecasting and preparation based on the Departments Cost Budgets.
• Provide monthly detailed spend reports to respective budget owners
• Determine whether Business Units in the Group are performing their activities, planning, accounting, custodial or control activities in compliance with business systems and management Policies & procedures.
Audit & Internal Financial Cotrol Review:
• Conduct reviews of assigned organizational and functional activities
• Evaluate the adequacy and effectiveness of management controls over those activities
• Supporting financial management with decision making, Action plans and forecasting.
• Conduct R/O Analysis (Risks and opportunities) and advise actions to minimize risk.
• Develop and implement audit programs and audit tools and methodology that test key business processes and controls.
• Handle special projects/ investigations assigned with due diligence and report to the management.
• Evaluate the impact and relevance of results on the audited departments to ensure clear and correct representation of findings
• Develop recommendations of policy changes.
• Develop, review, and approve revisions before submitting reports to the audited departments
• Audit & Review financial statements and ensure cut-off procedures are followed and periodic reports are completed
• Supervision on Finance Officers duties over campuses around UAE related to Accounts payable, Receivable,
End month reconciliations and reports.
• Analyze A/P aging report and recommend action plan for overdue accounts and outstanding invoices
• Controlling Payroll Transfers on Schedule Basis and reviewing all calculations
• Provide all required assistance to the auditors.
• Preparing Bank Reconciliation and intercompany reconciliation statements.
• Ensuring achievements of objectives and Monitoring Performance for all team with required motivation
• Supervision on the internal control procedures, workflow, policies, duties, and approval authorities.
• Key role in ensuring that the financial year-end process runs smoothly.
• Month end processes including the preparation of month end journals in compliance with GAAP.
• Reviews, investigates, and corrects errors and inconsistencies in Sub Ledger entries and transactions.
• Reviewing Trial Balance after proper Posting of General Ledger
• Assistance in the Quarter & annual budget Preparation for Audit Purposes and involved in budget forecasting
• Performs ad-hoc analysis and preparation of some MIS Reports.
Key achievements:
• Participate in implementing for Oracle Financials E-Business Suite R11 (2010-2014)
• Developed Experience on ERP financial system - Oracle (New System) & Microsoft Dynamics (Old System).
• Handling Accounting activities related to AP, AR, Journal Vouchers, GL, Reconciliations, fixed Assets
• Follow-up on suppliers balances and schedule their payments.
• Maintaining and reconciling of bank accounts.
• Process petty cash disbursements & reimbursements.
• Maintaining schedules pertaining to prepayments, deposits, and postdated cheques.
• Review and correct entries for prepayments, other receivables, loans and fixed assets
• Controlling accounting & financial entries before posting to GL.
• Managing entire units on ERP (Focus RT) Financial Application.
• Building solid relationships with customers by handling their questions and concerns with speed and professionalism and making the customer a priority.
• Involves communications with related departments (CT, Sales and Operations etc.) to provide information and develop solutions
• Reviews and evaluates accounts for assigned Customers to accurately determine their financial trading status
• escalates and gains approval for compromise solutions that are outside of established parameters
• Determines a solution that is within established financial parameters and initiates and co-ordinates actions through to a final resolution
Financial Supervisor