Manager Financial Planning and SAP
Olayan Financing Company
Total years of experience :20 years, 10 Months
Working in the holding entity of one of the largest groups of Middle East, the Olayan Group, which is into the business of manufacturing / trading of; FMCG, pharmaceuticals & health care items. Further it is involved in the sectors of oil and gas, power generation & food. The Group has investments across the world in real estate, private equity and public equities of blue chip companies.
The above businesses are being executed through local companies as well as Joint Ventures (Jvs) with international brands including; Coca Cola, Kleenex, CH2MHill, Colgate Palmolive, Baxter, kraft, Cummins, Knoll, Weir, Burger King, Texas Chicken, ATOS, Tata, Schindler, Xerox etc.
My role includes;
- Supporting the CFO / Head of Financial Planning in financial decisions for some of the aforementioned JVs.
- Supporting the CFO / Head of Planning in critically evaluating the annual budgets for some of the aforementioned JVs.
- Supporting the CFO / Head of Planning in reviewing and evaluating any new project being undertaken by some of the aforementioned JVs.
- Supporting the CFO / Head of Planning in resolving complex accounting matters per IFRS and local GAAP for e.g. hedging etc.
- Maintaining and keeping up to date the Group's Financial Policies, Procedures and Business Controls used by circa 20 diversified and variegated subsidiaries of The Group.
- Leading the team that carries out a very complex consolidation of financial statements through BPC for more than 50 companies
- Maintaining SAP BPC as super user and supervising further improvements / developments in BPC. Initial implementation was also successfully led by me.
- Supporting in the ongoing SAP ERP implementation.
- Updating and improving the Group's monthly reporting packs submitted to Head Office by the subsidiaries and other JVs
- Carrying out or reviewing the financial models for strategic plans and capacity modeling
- Carrying out or reviewing the financial valuation of companies for mergers & acquisitions
- Led as project manager, a large team of accountants as well as IT professionals for ERP (Oracle) implementation in Sapphire group, one of the largest textile groups in Pakistan.
- The job included the following;
critically studying and then documenting the systems and processes, preparing gap analysis for various processes,
suggesting improvements in the current processes and systems, determining how the systems or processes would map with ERP, having ERP configured through IT team for these systems,
preparing training documents,
training the client’s users,
having users’ acceptance testing, and
finally delivering the system to the client.
Providing post implementation support on ERP as well as accounting matters to the client.
• Thorough and rich experience of external audits of some of the largest companies in Pakistan, in the business sectors of: IPP, Fertilizer, FMCG, Textile, Paper manufacturing, Tissue manufacturing, Pharmaceutical, etc.
• These external audits were carried out in capacity of junior and later as team leader (2006 - 2007). The work included the following:
o Review, preparation and compilation of financial statements (including preparation of consolidated financial statements in multi-currency environment) in accordance with the reporting framework comprising IFRS and local laws.
o Evaluation of Internal Control System to identify deficiencies and suggesting remedial procedures through Management Letter to rectify the control weaknesses
o Audit planning, evaluation of control activities and audit of the financial statements in accordance with the International Standards on Auditing (ISA) and audit guidelines of PWC.
Chartered Accountant