Advisor to the Chairman on Financial Control
Bavaria Egypt
Total years of experience :19 years, 0 Months
Reporting to the group’s Chairman and Managing Director and working in liaison with the Group CFO.
Current mandate is the improvement of the financial closing function, with an aim to reduce the reporting and closing deadlines as well as redefining the financial KPI’s and finding potential areas for improvement. This also includes a full restructuring of the workflow in the finance and audit departments, in terms of methodology as well as staff utilization/re-assignment. Thus far, the reporting timeline has been decreased by 33%, the overall target by end of 2019 is to cut the current timeline by a further 70%.
Achievements thus far include cost savings in SG&A as well as reductions in DSO through automating some processes and implementing tighter controls on spending and credit management of key clients.
Seconded to Bavaria Alarm as a Finance Manager, in addition to the existing role in Bavaria
Egypt.
Achievements include navigating the company out of a liquidity issue, overall improvements in
working capital management through reductions of Inventory days on Hand and DSO, as well as
transforming the financial reporting and book-keeping system to full automation.
I have set up the research department for the start-up of operations at Ostoul.
I have designed the daily reports, which included market activity and performance, as well as a summary of the main valuation indicators of EGX30 stocks. I have also designed valuation and recommendation reports, while coaching the team on how to evaluate the validity of an investment.
Furthermore, I have set up the company’s 5 year business plan and started up an asset management arm of the firm.
The main focus of this position is to identify potential investment opportunities, through the application of fundamental analysis and valuation techniques.
I have recommended investment opportunities, which have yielded a return on investment (ROI) of circa 180% over 3 years.
I was responsible for the preparation of the budget, as well as the preparation the company’s internal financial statements. My contributions included circa 20% savings in budgeted operating expenses, as well as 5 months of manual reporting due to an issue with the migration between different accounting software packages.
Additional duties included Managing the Accounting Teams in Algeria and Tunisia offices, as well as the preparation of the Retail Segment Budget on the Group Consolidation Level.
I handled the corporate credit function for key clients, which generated sales of approximately 1.5 Billion Egyptian Pounds annually. I was also a member of a committee which managed to reduce the company’s Days Sales Outstanding (DSO) to 32 days, down from 54 days and Average Days Late in receivables (ADL) to 9 days, down from 22 days.
I was responsible for the segmental decision support for both the alcoholic and non-alcoholic beer segments for the company. This included the preparation of their budgets, the monthly reporting of the segments’ results, as well as planning the introduction or phase out of products.
I performed the feasibility study of the Heineken David project, which was the installation of a new production line that produces draught beer.
My main duty with Cargill was the credit control function for the sugar business unit, which generated annual revenues of circa. 1.2 Billion Egyptian Pounds.
I managed to document 95% of old undocumented withholding tax assets which were to be written off, resulting in re-claiming 3.5 Million Egyptian Pounds.
I was a member of an audit team for Ernst & Young, 5 months following my graduation I was chosen as that team’s leader following the departure of our previous senior in-charge, performing full auditing functions for 5 clients during my first year.
I was also chosen as graduate induction champion for Ernst & Young Middle East.
