Budgeting and reporting manager
Saudi Kuwaiti Finance House
Total years of experience :18 years, 0 Months
Summary of work activities and achievements:
• Prepare and review monthly, quarterly and annually departmental performance reports vs budgets and plans.
• Prepare and review monthly responsibility report for business and support departments.
• Prepare and review monthly, quarterly and annual financial report package.
• Prepare three years and five years business plans and financial projection based on strategy, trends and market expectations.
• Hold discussions and meetings with business units and top management to review actual performance against plans and budget.
• Hold discussions and meeting with top management to clarify responsibility and departmental performance report.
• Develop, implement, and document reporting and budgeting templates.
• Analysis of the trial balance of the company on a monthly basis.
• Prepare the open items analysis on quarterly basis.
• Prepare and review monthly, quarterly and annual parent Co “Kuwait Finance House” reporting packages with all underlying analysis and information.
• Prepare and review monthly and annually regulatory reports (Capital adequacy, internal capital adequacy assessment report and central bank of Kuwait report).
• Performs variance analyses, analyses historical revenue / expense behaviors, financial and statistical projections.
• Prepare and review the consolidation worksheet with all required reconciliation and eliminations needed.
• Coordinate with internal and external auditors to facilitate their review and audit process and fulfill their requirements.
• Work with CFO on due diligence of new investment opportunities, investment analysis, risk assessment, and other investment related activities.
• Work with CFO on cash planning and management and placement of short term excess cash in Murabaha deposits, money market products and investment funds.
• Work with CFO on corporate detailed authority matrix.
• Prepare master budget file including balance sheet, income statement and statement of cash flows.
• Prepare cash flow forecast at each business unit and at corporate level.
• Manage the relationship with all banks including issuance of letters of credit and letters of guarantee, monitoring of authorized signatories on bank accounts, update bank information, completion of bank account agreement, monitoring bank balances and bank reconciliations
• Initiate the accounting and financial policies and procedures.
• Assist CFO in initiate HR and admin to update HRD policies and procedures.
Supervise all finance functions including general ledger, accounts payable/receivable, fixed assets, and cost accounting while preparing periodic reports, reviews, and reconciling data.
• Convert the financial system in Al.Babtain Biscuit Co from fully manual to fully ERP system and integrate the system with all departments (Finance, Warehouse, Production, HR and Sales Departments;
• Develop costing system to reflect accuracy of the cost for the purpose of fair reporting.
• Develop the workflow between the finance department and other departments.
• Initiate financial and accounting policies and procedures.
• Ensured compliance with company policies and procedures as well as governmental requirements for all financial functions.
• Recording of daily sales transactions.
• Reconcile monthly VAT file and prepare the monthly declaration and payment to Tax department.
• Prepare the daily bank reconciliation for all bank accounts,
• Review all daily accounting record,
• Follow up L/C`s accounts which is necessary for importing raw materials,
• Assist finance manager to prepare the annual closing for the year ended Dec 31, 2007.
• Manage daily banking transactions,
• Mange daily exchange transactions,
• Reconcile daily bank statements,
• Manage operating expenses,
• Manage tax file with department of custom and tax.
• Manage monthly payroll and staff leaves and end of service provisions.
Bachelor degree in accounting and financial sciences