Finance Manager
NG BEAUTY WORLD FZCO
مجموع سنوات الخبرة :14 years, 8 أشهر
As finance manager, I currently have direct responsibility for four key teams: finance, warehouse, purchasing and production.
Achievements:
▪ Transformed organizational operations.
▪ Enhanced company liquidity.
▪ Exhaustive examination of financial records.
▪ Established a comprehensive strategic plan to manage inventory control for over 7000 items spanning various categories, including chemical raw materials, packaging materials, in-process inventory (ready-made and semi-finished), and finished goods.
▪ Established a resilient system to ensure meticulous adherence to monthly production schedules, prioritizing full and timely procurement of materials. This initiative enhanced cost-efficiency and maximized operational effectiveness of production lines.
▪ Analyzed over 5600 Bill of Materials for ready-made, semi-finished, and finished goods in the years 2022 and 2023. Rectified cost inconsistencies in the SAP system, eliminating unnecessary cost components for harmonized alignment with overall production costs.
▪ Overhauled the financial forecasting process, introducing predictive analytics models that significantly improved accuracy, aiding in more informed decision-making and resource allocation.
Key Responsibilities
▪ Formulation of strategic objectives, key performance indicators (KPIs), short-term and long-term financial plans, ensuring alignment with the company's vision and shareholder expectations.
▪ Development of annual budgets with department heads, ensuring meticulous alignment with strategic objectives and financial targets, emphasizing seamless adherence across the organization.
▪ Consistently monitor the operational performance of the company's divisions, implementing essential measures to attain specific objectives, mitigate risks, and enable well-informed and precise decision-making.
▪ Perform in-depth financial analysis to optimize financial opportunities, identify and assess risks, and propose strategies to mitigate potential challenges.
▪ Perform rigorous financial forecasting and analysis to anticipate future trends, meticulously tracking key financial indicators and revenue trends. Address variances between budgeted and actual expenses promptly, offering actionable recommendations to the CEO and Department Heads to enhance overall performance, ensure financial stability, and optimize operational efficiency.
▪ Strategically formulate and implement Policies & Processes in strict adherence to the company's standards and relevant laws and regulations. Skillfully communicate financial policies and procedures with precision, ensuring seamless and meticulous implementation across all department and functions.
▪ Establish a transparent and comprehensive reporting mechanism to facilitate consistent communication with the CEO. Provide regular updates on pivotal Divisional activities, promoting informed decision-making and strategic alignment.
▪ Orchestrate the precise preparation and timely delivery of monthly, quarterly, and annual financial reports. Maintain accuracy and compliance with accounting standards, regulatory requirements, including IFRS, policies, and processes, ensuring integrity in financial reporting processes and controls.
▪ Provide daily oversight of the Finance Department, develop necessary strategies, implementing necessary measures to achieve targeted objectives, pertaining to timely revenue, mitigate risks, and facilitate informed and accurate decision-making.
▪ Oversee financial statement entries to general ledger accounts, cost centers, and documentation of business transactions.
▪ Implement sophisticated cash forecasting models for seamless liquidity management, prioritizing timely payments to suppliers.
▪ Scrutinize the monthly procurement plan, ensuring effective execution aligned with financial and operational objectives.
▪ Supervise inventory reconciliation processes, meticulously examining disparities among purchase orders, sales orders, and actual stock levels.
Achievements
▪ Led the development of a comprehensive strategic roadmap and crafted innovative tactical scenarios, resulting in the successful turnaround of business.
▪ Orchestrated the implementation of automated processes, markedly reducing workload and elevating operational efficiency to new heights.
Key Responsibilities
▪ Directed the complete spectrum of strategic finance activities, encompassing meticulous tracking of business expansion, conducting feasibility studies, and evaluating business proposals to drive informed decision-making.
▪ Led the monthly and quarterly reporting of financial results, delivering consolidated financial statements, and providing in-depth analysis of costs, pricing, variable contributions, sales results, and variances from the budget. Accompanied by comprehensive commentaries to enhance executive understanding.
▪ Managed the Group's annual financial reporting process by expertly coordinating the fiscal year-end close and preparing the annual consolidated financial statements, ensuring accuracy and compliance.
▪ Conducted rigorous financial planning and analysis, spearheading the development of budgets and forecasts periodically, with a keen focus on optimizing financial performance.
▪ Proactively proposed and designed metrics and Key Performance Indicators (KPIs), establishing monthly targets. Conducted regular reviews of business performance against budgetary estimates, identifying progress, performance gaps, and areas for improvement.
▪ Offered strategic recommendations to the Chairman, stakeholders, and senior management team, actively participating in key decisions as a valued member of the executive management team.
▪ Developed and implemented robust internal financial controls, along with necessary policies and procedures, ensuring the integrity of the financial system, safeguarding assets, and ensuring compliance with laws, regulations, and International Financial Reporting Standards (IFRS).
▪ Vigilantly monitored receivables to mitigate the risk of credit defaults, while overseeing accounts payable to ensure compliance with expense reporting and purchase procedures.
▪ Managed the preparation and review of tax returns, ensuring compliance with tax regulations and optimizing the Group's tax position.
▪ Provided leadership to a team of four finance professionals, overseeing their day-to-day tasks, and providing guidance and training to ensure alignment with organizational goals.
Served as the functional lead in planning, designing, and implementing ERP systems within the Group, contributing to enhanced operational efficiency and streamlined financial processes.
▪ Directed the human resource department, reviewing and approving payroll to ensure accuracy and adherence to regulatory standards.
Key Responsibilities
▪ Led comprehensive financial oversight, encompassing financial accounting, strategic cost-reduction initiatives, and continuous monitoring of operations and sales performance.
▪ Successfully managed the annual financial reporting process, meticulously coordinating fiscal year-end closures and preparing consolidated financial statements to ensure accuracy and compliance.
▪ Led and coordinated the group's financial planning efforts, formulating monthly budgets and forecasts to align financial activities with organizational objectives.
▪ Executed monthly and quarterly reporting of financial results and consolidated financial statements. Conducted thorough analysis of costs, pricing, variable contributions, and sales results, providing insightful commentary on variances from the budget.
▪ Safeguarded the financial health of the group through effective cash planning and liquidity management. Made timely financing decisions and maintained daily communication with banks, ensuring the availability of extra funds (1 to 2 million) for seamless daily operations.
▪ Served as the primary legislative liaison on company financial matters. Conducted strategic data analysis, research, and modeling to deliver impactful recommendations to the chairman, stakeholders, and senior management.
▪ Provided in-depth financial analysis for contract negotiations and investment decisions, ensuring informed and strategic choices.
▪ Vetted and advised on the terms and conditions of contracts and agreements, ensuring alignment with organizational objectives and compliance standards.
▪ Ensured the proper implementation of credit policies and performed meticulous tax accounting, including the filing of VAT returns.
▪ Successfully led and managed a team of 7 professionals, demonstrating excellence in selection, hiring, and coaching.
▪ Identified and resolved complex problems by reviewing all related information in accordance with legal, accounting, and financial rules through effective collaboration with external auditors.
Financial reporting, internal controls and the entirety of the financial accounting process, including Cash Management and Banking, Sales, Accounts Receivable, Accounts Payable, Payroll, VAT
Achievements:
Functioned as the lead authority in strategizing, designing, and executing a comprehensive ERP system, overseeing end-to-end activities within the company.
Key Responsibilities
▪ Oversaw the entire spectrum of the finance department: financial reporting, budgeting, forecasting, cash management, cash management activities, business reporting, planning, controllership, and decision support