Finance Manager
Kuwait London General Trading & Contracting Co.
Total years of experience :40 years, 9 Months
In-charge for the functions of Finance, Accounting, Procurement & warehouse.
Business partnering & Strategic planning.
Developing and implementing policies, procedures, controls & budgeting and MIS reporting.
Providing valuable & effective support to Operations and other functional depts.
Guiding, developing & assisting in
1) Formulating & improving business plans, strategies & operational processes, policies and controls etc.
2) Budgeting, forecasting & variance analysis.
3) Technical accounting matters, Cost & profit center allocations, Monthly / quarterly closings, MIS reports & analysis.
4) Yearend closing and Preparation of financial statements.
One of the leading electro-mechanical trading and contracting companies in the Middle East(www.fawaz.com) with head office in Kuwait and branches in all of the GCC countries and Iraq .
Operational activities include Construction Contracts (projects), Facilities maintenance Contracts, Trading (international brands of diversified product range such as pumps, Air conditioning, firefighting, building automation and chemicals etc.) and Manufacturing. It is a multicultural and multinational organization with annual group turn-over of over 175 million US$ with more than 2500 employees.
FINANCIAL CONTROLLER : (2000 - June 2014)
Chief Accountant : (1994 - 2000)
Senior Accountant : (1989 - 1994)
Effective supervision and management of finance & accounting and warehouse teams, to enable strategic foresight into the business and to provide knowledgeable and accurate information to colleagues, management & partners. Identify and develop controls and processes to ensure that risks and opportunities are highlighted.
Duties & Responsibilities:
Managing day to day functions of the Finance department.
Review, analysis and control of Capex, Opex.
AR & AP management.
Preparation of periodical (monthly, quarterly & yearly) MIS reports of Business units’ performance results, budget variances and analysis.
Review of results with operational managers and senior management.
Strategic & operational review, analysis and MIS reporting of multinational subsidiaries.
Compilation of group management reporting package to MD’s office.
Supervision and control of warehouse operations with inventory management, review and analysis of inventory movements.
Active participation in operational budget and other ad-hoc forecasts.
Developing, managing, guiding and motivating the finance dept. & warehouse dept. teams. (10 direct reporting and around 30 indirect employees)
Supervising and guiding the yearend financial closing. Preparation of financial statements.
Consolidation of group financial statements (multinational branches).
Dealing with internal and external auditors.
Dealing with banks related to financial facilities including letters of credit, letters of guarantees, loans and others.
Co-ordination with HR, Administration, Procurement and other divisions.
Few Major Accomplishments;
Improved the liquidity status and operational efficiency and succeeded in considerable reduction of debt and finance cost.
Successfully turned around project division operations from volatility to profit making in one of the branches by implementing appropriate costing, operational & control procedures.
Instrumental in starting-up a new branch and developing operations in Muscat, Oman.
Implemented complete Chart of accounts and divisional structure along with stores operational structural setup, for indigenously developed software packages.
Consistently exceeded expectations in my performance (with each of my employers) and achieved exceptional career growth.
Supervision of auditing, accounting and compiling of tax returns functions of a team of staff.
Finalising the uncompleted accounts with auditors and submitting tax returns.
Accounting and auditing assignments of various clients (diversified nature of business) up to finalisation.
Management Accounting covering, Budgeting, Variance analysis, Costing, Management reporting, Financial analysis & Reporting, Financial decision making, Capital budgeting, Internal controls & Risk analysis etc.