Head Of Finance
Ertiyad Holding Group
Total years of experience :18 years, 0 Months
Directing the finance function for the group by checking all transactions entered into the ERP systems (Oracle Business Suite) and (Manager I.O), generating monthly management accounts (Statement of financial position and statement of P & L) as well as eliminations & consolidation and supervision of monthly closing, preparation of CAM reports (related to Dirham) for CMA (Capital Market Authority) on a monthly basis, initiation & preparation of budget along with quarterly controlling by comparison with actual (Group level) for all Companies, contacting banks for opening accounts along with fulfilling necessary requirements by them, supervision of the group assets’ count, review of investments calculations along with matching the rates with the signed agreements with concerned parties as well as calculation of accrued interests, monitoring of cash flows (Actual and expected) on a regular basis to ensure adequacy of available cash to meet the Group’s commitments, being project manager for the Oracle Business Suite ERP implementation, being a project manager for the policies and procedures implementation, liaison with external auditors and internal audit, presentation of quarterly financial results for the BOD, supervision of the VAT & Zakat returns preparation ensuring meeting ZATCA deadlines, review and authorization of monthly payroll with related benefits prepared by HR.
Directed overall functions related to accounting auditing. Managed formulation and consolidation of financial statements and reports. Analyzed general/subsidiary ledgers, accounts receivables, revenue allocation, trial balances, depreciation, cost, expenses, and insurance records. Evaluated and communicated business requirements and internal control/risks with key clients. Ensured provision of doubtful debts and slow-moving/obsolete items. Led re-calculation of employees' benefits and created management letter points. Navigated work prioritization, performance assessment, and feedback delivery to the staff.
Control all aspects of functions within subsidiaries while working as the head of accounting department. Direct value-added and withholding taxes related procedures, such as calculations, filing returns, submissions, and settlements. Head delivery of best accounting and payment services across subsidiaries to meet KPIs. Lead budget tracking, balancing, and exceeding according to the expenditures while setting alerts. Manage consolidation of all financial statements into one report. Oversee bank facilities mainly agreements, including calculations of interest cost and gain on breaking murabaha deposits. Conduct financial audits in collaboration with external/internal auditors.
Key Contributions:
• Fulfilled group terms via effective management of funding process and incoming/outgoing of cash.
• Maintained compliance of accounting records with IFRS through insightful reviews.
• Spearheaded implementation and management of ERP Microsoft Dynamics D365.
• Gained average of 3.5% marginal profit through short-term loan of SR200M.
• Attained income of SR16M by developing private investments over SR350M with investment team.
Advised on existing surplus investments into portfolios/deposits while controlling liquidity risk exposure to gain best marginal profit rates. Oversaw approval for payments while maintaining compliance with defined budget. Led three staff, senior accountant, and HR and IT officers. Submitted monthly prudential and ICAAP reports to the Capital Market Authority and addressed feedback. Reviewed net asset value reports on company’s funds. Monitored finance department’s policies to ensure adherence with company’s activities and CMA regulation. Managed results on evaluation of financial statements/funds through collaboration with external/internal auditors.
Key Contributions:
• Earned 10% marginal profit from cash surplus within one month while reducing cost and saving over SR1M.
• Maximised corporate’s capital through finalisation of a study that boosted business growth.
• Gained and identified multiple investment opportunities by formulating financial models.
• Ensured approval on budget through executive committee and board of directors by discussing key points.
• Accomplished large investment of the company in a profitable fund.
Direct overall functions related to accounting auditing, whilst acting as a part of assurance service team. Managed formulation and consolidation of financial statements and reports. Analysed general/subsidiary ledgers, accounts receivables, revenue allocation, trial balances, depreciation, cost, expenses, and insurance records. Evaluated and communicated business requirements and internal control/risks with key clients. Ensured provision of doubtful debts and slow-moving/obsolete items. Led re-calculation of employees' benefits and created management letter points. Navigated work prioritisation, performance assessment, and feedback delivery to the staff.
Key Contributions:
• Secured time cost and maximised profitability by completing engagements within deadlines.
• Enabled acceptance of error as financial wise by analysing accounts based on materiality set.
• Established goals and policies for financial management while focusing on budgeting and auditing for clients.