Finance Manager
Alkhorayef Petroleum Company
مجموع سنوات الخبرة :18 years, 9 أشهر
* Provide financial reports and interpret financial information to Senior Management whilst recommending further courses of action.
*Advise on investment activities and provide strategies that the company should take
*Maintain the financial health of the organization.
*Analyze costs, pricing, variable contributions, sales results and the company’s actual performance compared to the business plans.
*Develop trends and projections for the firm’s finances.
*Conduct reviews and evaluations for cost-reduction opportunities.
*Oversee operations of the finance department, set goals and objectives, and design a framework for these to be met.
*Manage the preparation of the company’s budget.
*Liase with auditors to ensure appropriate monitoring of company finances is maintained.
*Correspond with various other departments, discussing company plans and agreeing on future paths to be taken.
Supervising a team of Eight Accountants, responsible for the complete accounting cycle from daily operations to the issuance of yearly Financial Statements. Consolidation of subsidiaries, and issuance of combined financials. Insurance matters, Banking matters including LCs, LGs and loan syndication using Oracle 12 Financials.
Reporting Role: issuance of monthly management reports within deadlines, quarterly reports and quarterly audit review, re-conciliating subsidiaries with GL (AP, AR, FA, Inventory, Cash Management, Landed Cost, Sales)
Preparation of variance reports, interim financials and special purpose statements.
Insuring the company policies are not violated and the department is operating within legal and professional boundaries.
Key Knowledge in:
a.Accounting Standards : Have worked with and compiled Financials according to IFRS.
b.Systems : Have worked thoroughly on ERP systems such as IBM AS400 and Oracle Financials R12. Have undergone the process of Oracle implementation.
c.Banking : Have prepared and issued Letters of Credit, issued Bank Guarantees and reconciled loans and Murabaha accounts, Syndicated loans and financing agreements.
d.Insurances : Excellent knowledge with life and non- life insurances. Including property all risks, erection all risks, third party liability, workmen compensation, group medical insurances, personal accident, CPM (contractor plant and machinery), marine, machinery breakdown, and loss of profit.
e.Risk Assessment: Have undergone corporate risk assessments, and internal audit plans
Treasury
Prepare Daily Banks` Position and Review written cheques (cancelled, released, on hand).
Prepare Journal Vouchers for all bank transfers on a daily basis.
Prepare the banks` reconciliation reports on a weekly and monthly basis.
Monitor and file the Letters of Credit, LGs & other bank documents.
Preparing bank transfer letters for international & local suppliers at almost Zero mistake level.
Accounts Payable
Receive vendor & supplier invoices and prepare it for accounting treatment. (Make sure the PO, DN, RR and payment advice documents are attached to invoices).
Preparing payments through disbursement vouchers for payable invoices.
Prepare payments for Rent of Vehicles, Flats, Land, Etc….
Posting Accounts Payable invoices on the system and correct errors.
Matching warehouse receiving reports with P.O.s and invoices.
Preparing AP Aging report and reconciling.
Accounts Receivable
Recording project sales when needed.
Posting A/R collections on the A/R subsidiary.
Monitor Project monthly sales invoices at month end and make sure that all issued invoices are recorded on the system. Then finalize the summary of the project receivables.
Expenses
Record operating expenses and make sure that those expenses are compliant with Pos, contracts, and approvals.
Highlight expense irregularities to the Finance Manger if exists.
Liaison with vehicle rental companies for service complaints, and new rental orders.
Preparing payments for fixed lines, mobile lines and internet subscriptions.
Insurance Issues
Follow up for employees preauthorization to certain medical services.
Examining medical claims and highlighting those rejected and “out of the policy” claims to payroll accountants when needed.
Monitoring company vehicle comprehensive insurance and making renewal when approaching expiry.
Liaison with insurance companies for any insurance issues.
- Prepare and process payment vouchers
- Reconciliation of Bank Accounts
- Reconcile general ledger & subsidiary Accounts
- Analyze & Reconcile expenses & revenue accounts
- Daily monitoring Accounting transactions
- Prepare prepaid & fixed assets schedule & amortizations
- Assist with preparation of financial statements, review actual vs. budget P&L,
- Assist with Management reports
- Cash flows
- LC`s, LG`s
- Insurance Policies and ins. issues
- Control of Accounts Payable and Accounts Receivable accounts and transactions.
- Supervising the store controller, matching and process inventory.
- Supervising the purchasing dept, petty cash and reimbursement of expenses.
Monitoring policies portfolio
assessing policy riskiniess
accounting for reinsurance
handling big customers accounts
seminars and negociations with insurance federation
HBS Executive Education
I received my Bachelors Degree on August 2005 in Administrative sciences - Accounting Major and Finance Minor .