General Manager (GM)
The FITOUT LLC
Total years of experience :19 years, 9 Months
The FITOUT LLC is fully owned subsidiary of Union Properties, and is in the business of Interior fit out contracting with focus on Joinery. First joined as a CFO, then in 2011 was made a GM. Reporting to the Board of directors, main achievements were as follows:
• Transformed the market share from being fully reliant on owning company’s business, to a favored third party contractor with zero contribution by owning company to revenues
• The FITOUT was perceived as a property development joinery provider, but within a span of 5 years, converted it into a high end fit out solution provider. Main projects completed include (but not limited to): The address boulevard, Nikki Beach Hotel, W Hotel, Blue waters hotel and serviced apartments, Bulgari Hotel, and Viceroy Hotel.
• Transformed the income statement from negative to positive, through cost conscious restructuring of operations processes, that included cost monitoring at procurement stage, monthly completion percentage and revenue recognition monitoring, operational performance KPI’s, in addition to a carefully designed cash flow model, which links the procurement cycle to billing and collections.
• As a result of the positive income statement, the owners equity and asset value increased. The company has been paying cash dividends to the shareholders since 2013.
• Added ancillary activities to generate higher margins. These activities include fire doors manufacturing, solid surface authorized manufacturers, upholstery, and steel.
• Transferred the company from being leveraged to zero debt within the first 3 years, through extensive focus on collections of historical projects, and a strict collection policy for running projects.
A fully owned subsidiary of Union Properties, providing high quality facility management services within the UAE. Reporting to the Board of Directors, I manage the company’s day-to-day operations with focus on increasing market share, and margins through introduction of computer aided processes that increases productivity and efficiency of manpower, and close monitoring of the supply chain cost, in addition to increasing market exposure through business development. The company exceeded the budget in 2016, and set record high revenue.
Union Properties is a company engaged mainly in property investment and development, in addition to hospitality and leisure business. As a Finance Manager, my main responsibility was the finance & accounting functions of the subsidiaries (Contracting, property development, asset management & leisure). I report the General Manager and the Board of Directors. My main duties include (but not limited to) the following:
• Deal directly with project managers on all project related matters.
• Review project by project profitability and monitor the margins.
• Review the overall project progress and billing status.
• Review the receivables on a weekly basis and meet with the collection team for updates.
• Manage the cash and maximize income out of liquidity, and minimize lost opportunity costs.
• Lead the implementation of the newly acquired ERP.
• Review and approve monthly payroll, and authorized to sign the payroll through the electronic banking system.
• Supervising 7 employees within the Finance Departments at three different levels, accountant, chief accountants and accounting managers.
• Responsible for the preparation and finalization of the monthly reporting package.
• Review and approve all purchase orders.
• Signing all checks / transfers issued from the bank accounts. Authorized signatory on all company accounts up to AED 500, 000.
• Establishing policies and procedures for the departments and for the subsidiaries.
• Establishing the Delegation of Authority Manual.
• Preparation and review of annual and monthly budgets, forecasts and variance analysis.
• Present to the Board of Directors on a monthly basis the monthly financial report (Balance sheet, Income Statement, Statement of Cash Flows and budget to actual analysis)
• Deal with the internal and external auditors for special assignments and the finalization of quarterly reviewed financials in addition to audited year end financials.
Kingdom hotel investments is the hotel investment arm of Kingdom Holding Company owned by His Royal Highness Prince Al Waleed bin Talal. The company is engaged in the hospitality and leisure business and has an objective of building, developing and operating high quality hotels and resorts across Asia, Europe and Africa. My role as The company's Financial Controller encompasses the following:
• Responsible for the accounting and reporting of the regional office in Dubai and 35 companies, which represent the owning companies of operating entities, in 20 different countries.
• Reviewing and assisting in the preparation of the group consolidated quarterly and annual financial statements.
• Leading the selection and implementation of the company's accounting software, buildup of the chart of accounts and mapping the accounts from earlier utilized accounting software.
• Developing annual budgets and provide direction to the department on the long and short run.
• Drafting of policies and procedures and delegation of authority manuals for the company and its subsidiaries.
• Reviewing agreements with contractors for construction & renovation works. Ensuring that payment certificates are properly supported and agree to the contracts. Reporting to Management on discrepancies noted.
• Reviewing and approving daily JV postings of local and regional entities.
• Reviewing and approving monthly bank and inter-company reconciliations.
• Reviewing monthly budget Vs. actual report, and investigating variances.
• Reviewing and approving monthly payroll.
As a senior auditor, i am responsible for planning, executing and reporting of audited group companies. Using a risk based approach, perform compliance testing and ensure that current practices are in-line with company's policies and procedures and delegation of authority.
Fields of experience:
-FMCG
-Property
Performed accounting software selection and implimentation. The selected software was Microsoft Great Plains. Handling all the accounting functions, includind but Payables and receivables. Reporting to the management on a monthly basis through a monthly reporting package consisting of a balance sheet, income statement, statement of cashflows and capital expenditures summary. Prepared an office manual including policies and procedures and forms for office internal use.
Joined Ernst & Young as an accountant (equivalent to senior in Andersen staff mapping) after the merger between Andersen and Ernst & Young offices on the Middle East level. Responsible for many clients auditing jobs and met deadlines perfectly.
In charge of the audit for the year 2001, responsible for management letter of comments, audited financial statements and audit reports preparation for the following clients:
Smith International: oil and gas
Halliburton Group: oil and gas
Sperrysun: oil and gas
Security DBS: oil and gas
Mondial Dubai: financial advisors and life insurance brokers
Emirates Printing, Publication and Distribution: Media & publicity
Oracle: Software Solutions
Global Energy Technologies: suppliers of transformers and cables to DEWA and Federal Electricity and Water Authority
During my tenure with Arthur Andersen in Doha, my experience was mainly focused on oil and gas companies. A major part of my time in Qatar was spent on an accounting engagement, which was Chevron Overseas Petroleum Company. I was a key member in the engagement and was responsible for the implementation of the JD Edwards accounting package. Job included planning and implementing the accounting package, drafting the chart of accounts, and booking of 4 years data of accounting records, in addition to reconciling bank and intercompany accounts. I was also incharge of the tax audit and preparation of tax returns for Chevron and all other audit assignments.
Client base includes (but not limited to):
Weatherford Oil Tool Middle East (Dubai): Oil field services.
Petrofac International (Sharjah): Hydrocarbon Industries.
Snamprogetti: Hydrocarbon Industries.
Joined Arthur Andersen as an audit staff. During my experience in Jordan office i had the exposure to banking, car dealers, oil and gas, non profit organizations and investment audit.
Audit engagements:
Ford motors
Arab Bank for Investment & Finance.
National Petroleum Company
Joined Yarmouk University in 1994.