Senior Accounting and Finance Professional
Almana & Partners W.L.L
Total years of experience :9 years, 4 Months
• Prepare comprehensive financial reports, including balance sheets, income statements, and cash flow statements for Non FMCG, to provide accurate insights into the company's financial performance.
• Conduct variance analysis and trend assessments to identify key financial drivers and areas for improvement.
• Assist in the development and monitoring of annual budgets, ensuring alignment with organizational goals and financial targets.
• Collaborate with department heads to forecast financial results and identify potential risks and opportunities for cost optimization.
• Contribute to the formulation of financial strategies to support business objectives and drive sustainable growth.
• Analyze financial data to provide strategic recommendations for resource allocation and investment decisions.
• Ensuring strict compliance with internal controls. And responsible for maintaining the Risk register
• Manage daily cash flow activities, including cash forecasting, liquidity management, and monitoring of banking relationships.
• Optimize working capital efficiency through proactively following management of receivables, payables, and inventory levels.
• Evaluate existing financial systems and processes to identify inefficiencies and streamline workflows for enhanced productivity and accuracy.
• Lead or participate in cross-functional projects to implement process improvements and system enhancements.
• Provide guidance and mentorship to finance team members, fostering a collaborative and high-performance work environment.
• Facilitate training programs and knowledge-sharing initiatives to enhance the skill set and professional development of team members.
8. Stakeholder Communication and Relationship Management:
• Collaborate with internal stakeholders, including senior management and department heads, to communicate financial insights and recommendations effectively.
• Build and maintain relationships with external partners, such as auditors, regulatory authorities, and financial institutions, to support organizational objectives.
Achievements
• Conducted Various Fraud examinations and collected evidences against the involved
• The costing and tendering process of OFD (Office furniture Division) was reviewed, we implemented new costing estimates based on the actual and realistic costs. Established the breakeven point for the projects and equipped the division with accurate estimates for quoting the right prices. Results were astonishing, the loss-making division turned into profitable division.
• Implemented project accounting with accurate project margins, retention receivables and WIP management.
• Improved the accounting treatment for OESC (Office equipment and service division) as per IFRS 16. Leases. Successfully assisted and educated the division on understanding the difference between operating and Finance lease.
• Conducted various financial investigations for possible fraud detections and gathered evidence for the legal department.
• The re-engineering of logistics departments ensured time deliveries to the customers. All DO and invoicing process was ensured to be quick and accurate. Processes were made fool proof to make sure that delivery to wrong, fake, and incomplete PO is prevented.
• Assisted the credit control department in formulating and standardizing the process of awarding credit to the customers. Also formed strict credit control policies to ensure timely collection of receivables. We managed to drop our receivables days to 75 from 90 days by re-negotiating the credit terms with our customers.
• Currently working on process review of CEHA (consumer electronics and home appliance division) for their modern trade, showroom, and projects business sections.
Ensuring business processes are smooth and the financial health of the company is maintained.
Responsible for Accounting function of the whole group
Leading the planning and forecasting activities with business partners to achieve business and company goals.
Reviewing and presenting financial reports to the management.
Monitoring financial details to ensure legal compliance.
Analyzes revenue, expenses, cash flows, and balance sheets.
Assists management to make financial decisions, especially for expansion and capital growth.
Supervising the payroll function and responsible for accurate WPS processing
Recommending the means to improve profitability.
Reviewing and processing the payments of the company. Supplier management especially for consignment sales.
Maintains an accurate filing and record keeping system for all financial statements and company documents.
Participates in the execution of changes to procedures, policies, and systems to facilitate expansion, compliance, and scaling of the business.
Helping the business partners to establish accurate costing especially for restaurants.
Managing the cashflow of the business and ensuring working capital needs are met.
Helping the procurement and inventory controller to maintain the right stock.
Responsible for Trade Finance-related dealings with the banks including but not limited to LCs (Normal L/C, Murabaha L/C, ) Bank Guarantees (Tender Bond, Advance Payment Guarantee and Performance Bonds) and bank verified security checks.
Responsible for overseeing the bookkeeping of the company (Ensuring accurate, reconciled, and up to date data is maintained) Also presenting the weekly expected collection report.
Preparing monthly Financial Statements i.e., Statement of Financial position and statement of profit and loss for the division.
Performing Financial analysis and preparing report (commentary) to highlight the performance (comparison Report Budgeted vs Actual)
Presenting Project Gross Margin Report on monthly basis for completed jobs and presenting the job closure reports to the Finance Manager.
Assisting the finance manager in the Budgeting process (Reviewing, Monitoring and Managing Budgets) and responsible for managing budgets in ERP SAP.
Coordinating with suppliers and clients for reconciliation purposes and responsible for healthy relationship with them.
Monitoring and managing the Over drafts and other bank facilities including Project Financing.
Responsible for verifying and authenticating vendor payments, payroll verification, and employee benefits.
Liaising with auditors and satisfactorily answering queries raised by them within prescribed target dates.
Responsible for overseeing the book keeping AR, AP and GL Accounting for all three divisions.
Responsible for day-to-day finance and accounting operations.
Responsible for reconciling the daily sales and reconciling banks on a daily basis. (for Jewelry Division)
Ensuring accurate and timely revenue recognition for all divisions.
Responsible for Account Receivables of the group. Ensuring reconciled receivables are maintained.
Preparing and processing timely payments for the supplier by verifying documentation.
Responsible for handling bank reconciliation of bank. Arranging LCs, and Bank Guarantees.
Responsible for preparing daily funds required statement and presenting it to CFO to manage funds and Overdraft.
Presenting Profit and loss statement and statement of financial position on monthly basis.
Verifying the payroll of 200 employees for errors and omissions.
Assisting in auditing activities by providing necessary information and preparing requested documentation.
Responsible for assisting the external auditor in completing the statutory annual audit by producing the required information.
Responsible for smooth operations and bookkeeping of the Hiring Division. (Accounting+admin task).
Overseeing Diesel Consumption report for calculating the efficiency of heavy equipment. (Non-Accounting task)
Approving credit facility for clients with the limit of BHD 10, 000/= (Non-Accounting Task)
Responsible for overseeing business development and signing contracts for up to the limit of BHD 100, 000/=
Responsible for authorizing payment to Bahrain petroleum, Doosan spare parts, and others for up to BHD 100, 000/=
Approving invoices after checking them with the support and making sure they are error-free. (Accounting Task)
Approving payroll of 700 plus employees after verification to ensure error-free processing for payment. (Accounting Task)
Responsible for preparation of Profit and loss statement on monthly basis. (Accounting Task)
Responsible for ensuring accurate and timely recognition of revenue and expenses. (Accounting Task)
Assisting with any other financial and non-financial information required by the management. (Accounting+Admin Task)
Assisting the auditor with annual audit for the division. (Accounting Task).
Performed Costing for various divisions especially for Universal Readymix monthly helping the company to keep eye on margins.
CPA Ireland
