Group Budgeting,Reporting & Analysis Manager
Ecco Outsourcing
Total years of experience :25 years, 3 months
Highlights
• Displayed efficiency in administering control of company expenditures, project costs, achieved significant cost savings and eventually contributed to the operating profits.
• Effective role in feasibility studies, projects evaluations and pricing of new projects.
• In-charge of project budgeting, implementing the budget, ensuring compliance with budgetary provisions, rationalizing project activities to reduce project costs, and managing company's overall expenses.
Key Responsibilities:
Feasibility Studies and Pricing
• Conducting feasibility studies for new investment opportunities, and reporting assessment results to the higher management.
• Structuring financial models that were designed on the basis of available data, aid the senior management team and company’s stakeholders in project’s pricing and valuation process.
Budgeting and Reporting
• Structuring new financial analysis, budgeting, and reporting models for the group companies, resulting in holistic improvement across all these processes.
• Handling the management reporting function for the group companies, and providing periodic as well as ad-hoc reports to the senior management.
• Conducting various analytical cycles to identify the differences between defined annual budgets and actual company performance, in order to mark out improvement areas.
• Monitoring performance indicators, highlighting trends and analyzing causes of unexpected variance.
• Conferring with the executive management team to discuss expenditure variances, and directing corrective actions to promote better management of project finances.
• Analyzing complex financial information and reports to provide accurate and timely financial recommendations to management for decision making purposes.
• Improving performance by evaluating processes to drive efficiencies and preparing investment plan for new projects.
• Overseeing and managing continues development of Budgeting, Financial Forecasting, Operating Plan and Modeling tools.
• Developing cash flow statements on a periodic basis, maintaining the liquidity levels of company finances by monitoring revenues and expenses simultaneously.
Highlights:
•Successfully conceptualized, planned, and developed the new standard operating procedures within the company, while also enhancing the existing internal and management reporting procedures.
•Instrumental role in the formulation of robust, effective, and result-oriented operational plans for various projects taken up by the company.
•Provided end-to-end support to the IT team in implementing SAP within the company and successfully completed the migration of data from the existing Dolphin System to the improved structures in
the new SAP System.
Key Responsibilities:
Budgeting and Project Cost Monitoring & Control
•Formulated the annual budgets for the company, managed allocation of funds to various activities, and created budgetary provisions for multiple projects to be completed.
•Handled accountability to reduce budget-related variances through the monitoring and controlling of operating expenses for every project undertaken by the company.
•Analyzed effort performance parameters, determined of project budgets were utilized appropriately, and suggested improvements in the process accordingly.
Variance Analysis and Mitigation
•Collated budget spending data, analyzed project-wise comparison reports between Planned Vs Actual expenses, and submitted them to the senior management for their review.
•Conducted various analytical cycles to identify the differences between defined annual budgets and actual company performance, in order to mark out improvement areas.
•Conferred with the executive management team to discuss expenditure variances, and directed corrective actions to promote better management of project finances.
Financial Performance Management
•Received performance reports from other departments on a monthly basis, analyzed various operational / financial parameters, and forwarded the reports with budget control insights to the senior management.
•Managed the allocation of funds for overhead expenses required by the projects, in line with the compliance directives mentioned in the company policies.
Highlights
• Deputed to TBTD & TEIE by the senior management of Al-Rashideen Trading Co. to re-structure and direct the finance function.
• Successfully planned and designed the accounting, treasury, and costing cycles in the company, based on the customized requirements identified during the scope definition phase.
• Collaborated with the company’s CFO to initiate internal projects for the development of standard operating procedures, training staff members, and setting-up the accounting department.
• Achieved optimized accuracy, efficiency, and information effectiveness across all departments through the development and implementation of accounting, financial management, and auditing systems.
• Functioned in a multi-functional role as Budgeting Manager as well as Financial Manager for both companies, with vital part in the presentation of quarterly financial statements.
Key Responsibilities
Product Costing and Budgeting
• Tasked with the analysis, finalization, and recording of the standard costing for company’s various products, along with the development of robust pricing structure for the same.
• Analyzed expenses and other spending data from time to time, in order to evaluate actual costs of products and further compare it with the defined standard costing.
• Developed and presented the annual capital expenditure budgets for the plant, while making provision for future financial benefits for the company.
Budget Allocation and Variance Analysis
• Formulated the master budget for both companies as well as the factory, with further involvement in the allocation of finances for various operating and capital expenditure requirements.
• Generated comparison reports to analyze the actual company performance against the defined budgets, and submitted them to the senior management for critical decision-making.
• Calculated and analyzed the variance identified in the comparison of actual performance against annual budgets, on a monthly basis, by evaluating the operating expenses.
Management Reporting
• Handled the management reporting function for both the companies as well as the plant, and provided periodic and ad-hoc performance reports to the senior management.
• Conducted thorough analysis of the financial statements of both the companies on a quarter-to-quarter basis, and learned more about the ‘weak’ areas that required drastic improvement.
• Implemented industry best practices and global standards to evaluate company performance on a periodic basis, as a measure to promote accuracy and reliability in the process.
Highlights
• Successfully planned, conceptualized, and delivered new models to conduct feasibility studies on new projects, and defined the reporting procedures for this function.
• Instrumental role in the designing and implementation of new managerial reports, budget formulation templates, and budget control models, which were more advanced as compared to the existing ones.
Key Responsibilities
Feasibility Studies
• Functioned as the section head with major role in conducting feasibility studies for new investment opportunities, and reporting assessment results to the higher management.
• Conducted the evaluation of expenses, resources, and timelines required for the completion of new projects, and provided vital insights for decision making processes.
• Structured financial models that were designed on the basis of available data, and presented them in meetings with the senior management team and company’s stakeholders.
Budgeting and Cost Control
• Planned and developed budgets to meet expenses towards project resources, and directed the operations department to complete projects within their pre-defined timelines to avoid unnecessary overtime costs.
• Handled accountability to formulate and present the master budget for the overall company operations along with the simultaneous operating costs of ongoing projects.
• Administered control over yearly / monthly budget allocations, project financing, capital expenditures, operating expenditures, and overhead expenses.
Expense and Variance Analysis
• Consolidated financial information, and conducted robust assessment budget utilization to formulate periodic comparison reports for various projects.
• Provided periodic insights to the higher management with regard to the low operational performance analyzed through the evaluation of budget spending for various projects.
• Involved in the monthly, quarterly, and annual review of financial statements based on revenues and expenses, including the submission of detailed reports to the management, for their approval.
Highlights
• Successfully developed and delivered solid forecasts for the expenses required for the completion of multiple construction projects and their launch.
• Spearheaded sub-contractors and creditors departments, conducted training sessions for the staff, and achieved defined company targets through motivation and guidance.
• Planned and executed the migration of data from ATS to the Oracle-based ERP System, while troubleshooting and resolving technical issues encountered during the process.
Key Responsibilities
• Collated and analyzed the annual reports of multiple projects undertaken by the company, and verified if all the information and calculations presented were accurate.
• Conducted the comparison of project reports with budgeted reports, calculated variance in the expenses incurred by the organization, and reported the same to the management.
• Involved in the development of financial statements based on consolidated numerical data, while also providing segment-wise analysis for various instruments in the statement.
• Handled accountability to conduct and implement feasibility studies in order to assess new investment opportunities, and provided feedback to the management team.
• Monitored and analyzed project performance, identified improvement areas, rendered performance enhancement solutions, and kept the management in loop regarding all developments in this regard.
• Managed and monitored capital expenditures as well as operating expenses for projects, in order to analyze variances (if any) compared to the defined master budget.
Previous Assignments
INTERNATIONAL CO FOR ADVANCED INDUSTRIES (IDEAL AND OLYMPIC GROUP), CAIRO, EGYPT
• Oct 2004 - May 2005: Senior Internal Auditor
• Jan 2003 - Sep 2004: Internal Auditor
• Feb 1999 - Dec 2002: Accountant
CERTIFICATIONS • Pursuing Chartered Financial Analyst (CFA) Level 1, CFA Institute, United States • Certified Management Accountant – (Part 1: Business Analysis, Part 2: Management Accounting & Reporting, Part 2: Financial Decision Making (New System), Institute of Certified Management Accountants, United States • Certificate in Projects Evaluation and Feasibility Studies, Cairo University, Egypt, Jun 1999 PUBLICATIONS • Financial Modeling for Budgets and Ratios, published and recognized by the Institute of Management Accountants, United States http://linkup.imanet.org/communities/community-home/digestviewer/viewthread?GroupId=1639&MID=23203&tab=digestviewer&tab=digestviewer&ssopc=1