Group Financial Controller
Arabia Insurance Company
Total years of experience :19 years, 7 Months
• Ensuring strong accounting and reporting throughout the group
• Overseeing and monitoring an effective control environment
• Providing strategic information to the management team
• Managing, Analyzing and reporting to executives and directors on key performance indicators, business risks, business objectives, influences on past and future performance,
• Work with senior teams to formulate strategies and plans
• Lead and develop finance and accounting teams
• Cash flow management on an ongoing basis
• Ensuring that the regulatory requirements of all statutory bodies are met
• Planning, directing and organizing activities of department functions
• Setting new policies and procedures for the department
• Coordinating with the internal and external auditors
• Managing the collection of premiums receivable
Setting strategic change milestone for efficiency, enhancing business driven value-adding partnership via finance while managing cost to increase returns
•Setting changes to framework, processes and systems to meet the requirements for approved company’s strategy
•Setting effective and strategic cash management policy to meet liabilities and ensure proper investment of idle cash
•Setting Solvency & Liquidity plans
•Setting expansion plan through establishing new points of sale and branches in order to increase market share and visibility
Managing, Analyzing and reporting to executives and directors on: key performance indicators, business risks, business objectives, influences on past and future performance,
•Work with senior teams to formulate strategies and plans
•Lead and develop finance and accounting teams
•Manage the budgeting process
•Cash flow management on an ongoing basis
•Overall control of all financial transactions and accountancy matters, including audit systems
•Ensuring that the regulatory requirements of all statutory bodies are met
•Planning, directing and organizing activities of department functions
•Setting new policies and procedures for the department
•Ensuring the presence of efficient internal controls
•Liaising with bankers and re- insurers regarding financial transactions.
•Coordinating with the internal and external auditors
•Managing the collection of premiums receivable
•Managing and approving the payments for providers, customers, TPAs …etc.
•Ensuring the proper reporting from various departments
•Ongoing review of performance and efficiency of the team as well as development of best practices
Preparing SAMA required reporting forms on monthly, quarterly and annual basis.
•Maintaining the General Ledger
•Managing activities of subordinates
•Planning, directing and organizing activities of accounting functions
•Setting new policies and procedures for the accounting department
•Ensuring the presence of efficient internal controls
•Liaising with bankers and re- insurers regarding financial transactions.
•Managing the workflow of the department
•Coordinating with the internal and external auditors
•Preparing the financial statements for audit
•Managing the collection of premiums receivable
•Managing and approving the payments for providers, customers, TPAs …etc.
•Managing the accounting activities in all branches
•Ensuring the proper reporting from various departments
Responsible for finance management reporting and analysis of actual and budget/forecast data on periodic basis. Also responsible for effective financial reporting and processing of transactions primarily related to intercompany, general ledger maintenance, fixed assets and procurement etc.
•Ensure that internal controls are in place to safeguard assets.
•Ensuring accurate and timely production of reports in accordance with set standards, in addition to ensuring that the financial systems are kept in good order and able to provide information for management as required.
•Assisting the financial manager to direct, control and monitor the development of and compliance with financial policies and procedures.
Coordinating with management to ensure a system is in place that provides guarantee about the identification and evaluation of all major risks, on an annual basis.
•Reporting to the audit management and committee on the programs, policies, and activities of the department.
•Organizing, planning and carrying out the internal audit function that includes the preparation of an audit plan that completes the duty of the department, assigning work, scheduling and estimating resource needs.
•Conducting any tasks or reviews requested by the audit committee or General Manager
•Managing contact with the external auditors and making sure that every party is not only aware of the other's work but also well aware of areas of concern.
•Providing audit committee and management with an opinion on the internal controls in the company.
•Preparing internal audit reports.
•Accountable for reviewing and verifying records, external financial statement auditing, compliance with policies, procedures and standards.
•Developing audit procedures and systems.
•Recommending modification or changes while ensuring all policies and procedures are followed.
•Any other ad-hoc duties as assigned.
Managing vendor accounts, generating weekly on demand cheques.
•Preparing Budgets & Forecasts
•Preparing Payroll & supervising the Payable and Receivable accounts
•Ensuring compliance with accounting deadlines.
•Preparing company accounts and tax returns for audit.
•Liaising with bankers, re- insurers regarding financial transactions.
•Reviewing work performance of subordinates and taking corrective action where appropriate
•Handling the responsibility of reviewing and analyzing general ledger accounts for interim and year-end closings
•Responsible for planning and coordinating education and training programs for accounts staff
•Identifying potential issues in the MIS portion of accounting
•Responsible for reviewing aged receivables, preparing and submitting recommendations on write-off of bad debts to the Financial Director
•Handling the tasks of managing the workflow of the department
•Handling the responsibility of supervising the daily activities of the staff
•Ensuring that the data is entered in accordance with company guidelines
•Managing complex accounting tasks efficiently
•Changing inefficient work processes into productive ones and introduced automation through software
•Training and managing teams for various accounting activities
Certified Internal Auditor (CIA)
courses: CPA Candidate (Certified Public Accountant) -