Financial Controller
Jaidah Motors and Trading Co.
Total years of experience :17 years, 5 Months
Financial Control
1. Monthly and yearly Forecast of P&L and cash flow positions, related borrowing needs.
2. Responsible to ensure and coordinate timely and accurate periodic financial closing.
3. Prepare the financial statements and reconciliations to ensure timely monthly, quarterly and yearly closing. Prepare monthly and yearly management reports for the Performance of each Division.
4. Review and approve GL account reconciliation / schedule and investigate unusual or long outstanding items
Budgeting
1. Preparation of the company's budget
2. Report to management on variances from the established budget, and the reasons for those variances
3. Assist management in the formulation of its overall strategic direction
Financial Analysis
1. Engage in ongoing cost reduction controls in all areas of the company
2. Engage in benchmarking studies to establish areas of potential operational improvement
3. Interpret the company's financial results to management and recommend improvement activities
4. Compile key business metrics and report on them to management
5. Capital budgeting process and discounted cash flow analysis
6. Create additional analyses and reports as requested by management
Other Responsibilities
Reconciliations of Accounts Receivable and Accounts Payable items on a systematic manner.
Perform other duties relevant to the job as requested.
Key Responsibilities and Accountabilities
Management
1. Maintain a documented system of accounting policies and procedures
2. Manage outsourced functions
3. Oversee the operations of the treasury department, including the design of an organizational structure adequate for achieving the department's goals and objectives
4. In co-ordination with HR, create and maintain the cost centres. Be the focal point to communicate to / from the department managers for modifications / creation of cost centres
Finance Management
1. Forecast cash flow positions, related borrowing needs, and available funds for investment
2. Ensure that sufficient funds are available to meet ongoing operational and capital investment requirements
3. Responsible to ensure and coordinate timely and accurate periodic financial closing Maintain banking relationships
4. Assist in determining the company's proper capital structure
5. Arrange for equity and debt financing
6. Prepare the financial statements, consolidations and reconciliations to ensure timely monthly, quarterly and yearly closing.
7. Prepare audit schedules and consolidation working during periodic external audit
8. Review and approve bank reconciliation, and investigate unusual or long outstanding items
9. Review and approve GL account reconciliation / schedule and investigate unusual or long outstanding items
Budgeting
1. Manage the preparation of the company's budget
2. Report to management on variances from the established budget, and the reasons for those variances
3. Assist management in the formulation of its overall strategic direction
Financial Analysis
1. Engage in ongoing cost reduction analyses in all areas of the company
2. Engage in benchmarking studies to establish areas of potential operational improvement
3. Interpret the company's financial results to management and recommend improvement activities
4. Review company bottlenecks and recommend changes to improve the overall level of company throughput
5. Compile key business metrics and report on them to management
6. Manage the capital budgeting process, based on constraint analysis and discounted cash flow analysis
7. Create additional analyses and reports as requested by management
Other Responsibilities
Review reconciliations of Accounts Receivable and Accounts Payable items on a systematic manner.
Perform other duties relevant to the job as requested.
Oversee the extension of credit to customers
Preparing of the daily, weekly and monthly duties preformed by the Accounts Payable Department and its related processes, such as policies and procedures.
Processing vendor payment by different payment ways /issuing cheques and transfers/.
Assists in preparation of the weekly monthly management report and accompanying schedules, worksheets, variance reports and cash outflow projections.
Main responsibilities:
• Monitor accounts to ensure payments are up to date.
• Coordinate with suppliers for any invoice discrepancies.
• Correspond with vendors and respond to inquiries.
• Coordinate with supplier for the monthly account balances.
• Analyze any advanced payments to suppliers.
• Analyze and review petty cash transactions.
• Distribute checks to payees on a regular basis.
• Prepare journal entries for travel expenses, utilities expenses, accommodation expenses, and other operational and overhead expenses.
• Handling Administration work, Petty Cash etc.,
• Vendors’ file maintenance.
• Daily monitoring and checking of issuances and collections.
• Prepare Journal Vouchers of Accruals as of the end month.
• Prepare Balance Sheet Schedules of Accruals as of the end month.
• Verify Third Party Deliveries and Hauling Services Contracts.
• Routing of Contracts for signature of authorized Region/Plant signatories.
• Inventory Count.
• Fixed Assets Count.
• Produce error-free accounting reports and present their results
• Verify, allocate, post and reconcile transactions
• Analyse financial information and summarise financial status
• Provide technical support and advice on management
• Review and recommend modifications to accounting systems and procedures
• Participate in financial standards setting and in forecast process
• Provide input into department’s goal setting process
• Prepare financial statements and produce budget according to schedule
• Direct internal and external audits to ensure compliance
• Plan, assign and review staff’s work
• Prepare month-end and year-end close process
• Develop and document business processes and accounting policies to maintain and strengthen internal controls
Supervision of the daily, weekly and monthly duties preformed by the Accounts Payable Department and its related processes, such as policies and procedures.
Processing vendor payment by different payment ways.
Assist with preparation of monthly journal entries and reconciliation of the Accrued Accounts Payable and Event Accrual general ledger Accounts.
Assists in preparation of the weekly monthly management report and accompanying schedules, worksheets, including “Budget vs. Actual” variance reports and cash outflow projections.