CFO (Finance, procurement & Admin)
Ingeus Saudi Arabia
Total years of experience :27 years, 1 Months
• Accomplishes finance human resource strategies by determining accountabilities; communicating and enforcing values, policies, and procedures; implementing recruitment, selection, orientation, training, coaching, counseling, disciplinary, and communication programs; planning, monitoring, appraising, and reviewing job contributions; planning and reviewing compensation strategies.
• Develops finance organizational strategies by contributing financial and accounting information, analysis, and recommendations to strategic thinking and direction; establishing functional objectives in line with organizational objectives.
• Establishes finance operational strategies by evaluating trends; establishing critical measurements; determining production, productivity, quality, and customer-service strategies; designing systems; accumulating resources; resolving problems; implementing change.
• Develops organization prospects by studying economic trends and revenue opportunities; projecting acquisition and expansion prospects; analyzing organization operations; identifying opportunities for improvement, cost reduction, and systems enhancement; accumulating capital to fund expansion.
• Develops financial strategies by forecasting capital, facilities, and staff requirements; identifying monetary resources; developing action plans.
• Monitors financial performance by measuring and analyzing results; initiating corrective actions; minimizing the impact of variances.
• Maximizes return on invested funds by identifying investment opportunities; maintaining relationships with the investment community.
• Reports financial status by developing forecasts; reporting results; analyzing variances; developing improvements.
• Accomplishes finance and organization mission by completing related results as needed.
• Develop and communicate a procurement business plan; establish, communicate and implement long-term goals for the department in order to promote effectiveness and efficiency.
• Serve as the primary contact for procurement related questions, training, policy and procedure interpretation and alignment by all departments.
• Develop and implement procurement-related training programs for the procurement team and organization.
• Manage current procurement policies, procedures and programs
• Develop a centralized procurement program that adds value and efficiency to the organization;
• Process purchase orders; develops bids and proposals; and reconcile any invoice discrepancies.
• Overseeing day-to-day operations.
• Developing organizational policies.
• Disbursing funds to managers.
• Managing administrative budgets.
• Hiring and training administrative staff.
• Negotiating contracts and agreements with vendors.
• Maintaining corporate relationships.
• Monitoring operating expenses.
• Liaising with HR and other departments.
• Updating executives on business performance.
•Annual business plans and short, medium and long term forecasts of income statement, balance sheet and Cash flow, reflecting the business strategy.
•Annual budgets, with monthly analysis of variance to budget enable mitigating actions, if necessary
•Reporting and accounting as per regulatory and legal requirements including taxation, dividends, annual report and accounts
•Ensuring that appropriate accounting policies have been consistently applied in preparation of financial statements, and that accounting estimates are based on reasonable and prudent judgment
•Communication and liaison with OFC, business analysts and business/financial media, as appropriate/required
•Ensure responsibilities towards shareholders are met, including production of board information packs, including monthly integrated financial statements that present accurately the state of the company’s affairs, results of its operation, balance sheet and cash flows, as well as appropriate commentary on results and analysis.
•Setting the strategic priorities and agenda for the company.
•Analysis of business opportunities in existing and new markets.
•Optimize capital structure to support growth.
•Assist in identifying cost saving initiatives, and procurement team in negotiating with suppliers
•Accurate accounting and reporting of monthly closing, year-end closing and collaboration with auditors
•Develop and deliver first class management information for the steering of P&L performance including implementation of a business intelligence platform
•Provide business partnership to management team colleagues and their teams, through providing decision support, analysis and information; improve visibility and understanding of financial results
•Provide high quality information and analysis in support of strategic priorities and initiatives
•Maintain a register of risks and implement appropriate policies, processes and practices to manage risks across regions, markets and functions
•Recruit, train, mentor and develop the finance staff and create a strong succession pipeline of financial and business talent
•Set the standards of competence for all finance professionals, and develop appropriate programmers to further the development and performance of the finance organization
•Take the lead in consolidating the Company’s banking relationships and to develop strategic plans aimed at lower the company’s cost of capital and increasing its access to financing sources;
•Turn large amounts of operational and financial data into actionable information /reporting and analysis for division and P&L managers, and create a solid information feedback loop for these managers to implement financial plans and productivity benchmarks, and to monitor progress toward financial goals.
•Maximize cash-flows by improving DSOs, analyzing purchasing / inventory trends, and implementing strategies to improve collections;
•Provide proactive, sound guidance regarding management of assets and investments, and financial trends throughout the company;
•Work with the BOD & GM on the strategic vision including fostering and cultivating stakeholder relationships on all levels, as well as assisting in the development and negotiation of contracts.
•Participate in developing new business, specifically: assist the BOD & GM in identifying new funding opportunities, the drafting of prospective programmatic budgets, and determining cost effectiveness of prospective service delivery.
•Oversee long-term budgetary planning and cost management in alignment with 123’s strategic plan.
•Ensure adequate controls are installed and that substantiating documentation is approved and available such that all purchases may pass independent and governmental audits.
•Oversee the production of monthly reports including reconciliations with funders and pension plan requirements, as well as financial statements and cash flow projections for use by Executive management, as well as the Audit/Finance Committee and Board of Directors.
•Create, coordinate, and evaluate the financial programs and supporting information systems of the company to include budgeting, tax planning, real estate, and conservation of assets.
•Establish and maintain appropriate internal control safeguards.
•Assist in obtaining the necessary licenses and insurance required to start the new business.
•Analyze cash flow, cost controls, and expenses to guide business leaders. Analyze financial statements to pinpoint potential weak areas.
•Establish and implement short- and long-range departmental goals, objectives, policies, and operating procedures.
•Develop and maintain systems of internal controls to safeguard financial assets of the organization and oversee federal awards and programs.
•Review all formal finance-, HR-, and IT-related procedures, processes, and administration, recommending improvements to the systems in place and managing the systems going forward.
• Lead Finance activities for GE Energy Power Plant MEA Region and provide leadership, coaching and guidance to finance leaders based in the region.
• Provide Finance controllership and guidance to all GE Energy Power Plant businesses within the MEA Region $XX B yearly Sales across the region.
• Direct the compliance, regulatory and risk management functions.
• Provide close co-operation and decision support to the Region Executive for Energy Power Plant MEA to achieve business objectives.
• Provide Commercial Support to Energy Regional Sales team developing and driving regional opportunities, plans and measurements.
• Act as champion for cost optimization, productivity, inventory accuracy & utilization, as well as inventory standard settings.
• Develop estimates, operating plans, forecasts, reviews, reports (GAAP), Growth Playbook (3-year plan) and SII (1-year plan), and main financial indicators, such as orders, sales, contribution margin, inventory, cash flow and past due.
• Develops and establishes financial policies & procedures in line with applicable laws and GE policies and adjusted to remote site requirements and regional specificities.
• Perform internal and external audits and ensure controllership and consistency of accounting process across the operations, drive controllership awareness and processes through operations teams and ensures finance compliance.
• Integrate Energy Power Plant businesses within MEA region ensuring consistent controllership, statutory compliance, common policies and processes.
• Improve ERP system and expand financial services/activities locally available to support regional business growth.
• Key Player in long-term planning & contributes to the overall strategy and management of complex issues within functional areas of expertise.
• Collaborate with the senior leadership team on the development of financial growth strategies and develop projections, Performa models to ensure sound strategies are in place for all business lines.
• Analyzing KPIs & trends which include establishing financial benchmarks of acceptable
Performance & comparison of actual results to budget thus initiating corrective actions in
Accordance to IAS, UK GAAP and IFRS.
• Reviewing & devising yearly financial & income statements, balance sheets, internal and external
Audit, cash flow projections and quarterly principal P&L to reduce cost as well as budget
Compliance for different Business Segments.
• Designing annual budget, guidelines to optimize company’s cash flows, managing investments and Working capital requirements, advising higher management on optimal utilization of financial Structures within the company & proposing financial strategies with emphasis on contractual Obligations, financial management to maximize profit and control cost.
• Liaison with the principal clients, vendors, and financial & banking institutions on related activities and support top management on contractual negotiations that effect company’s financial or non-financial obligations.
• Ensure cash management practices and policies are in place to meet business requirements/commitments.
• Hold total responsibility for all negotiation with banks to minimize interest rates & foreign
• Currency exposure and with suppliers to maintain & improve contractual agreements.
• Analyzing cash flow and business performance reports to manage short & long term debts, cash
Rollover, credit facilities investment proposals, bidding & floating of tenders.
• Directing the tax and regulatory compliance along with identification of tax savings opportunities and ensuring timely filing of Zakat initiatives.
•Developing business opportunities, manage, motivate, and lead a team of committed professionals to effectively drive deliverables to GFD, board of the directors and the chairman.
•Oversee daily as well as long term financial operations and coached them to promote team development and provide leadership in identifying and achieving goals through meaningful performance measurements.
•Drive monthly and yearly FS, budgets, cash flow projections as well as aged receivables and payables listings for the company and reporting to the Group finance director.
•Assist with other legal and structural issues, including best practice advice and assistance launching new products.
•Analyzed key finance performance indicators and trends, such as financial ratios and cross division comparisons which include establishing financial benchmarks of acceptable performance and comparison of actual results to budget thus initiating corrective actions.
•Handled and liaised with Saudi Industrial Development Fund for regulatory reporting, new incentive applications, expansion reporting and application. Ensured compliance with all bookkeeping according to SOCPA and Saudi Arabia laws.
•Control the financial accounting activities such as: invoicing; refunds; payroll; collection of accounts receivable; cash revolving funds; management and payment of suppliers and contractors. Also ensured proper computing of leave salary, gratuity, airfares etc.
•Monitored and managed banking relationships, including credit lines, bank reconciliation statements, cash flow, short and long term debts, and internal controls authorizing client credit limits, local purchases, fixed asset purchases, and petty cash expenses.
•Devised new systems and procedures in liaison with IT department to enhance business process using Baan ERP knowledge in finance and distribution modules.
•Ensured continuous improvement in group accounting system (ERP BaaN IV) to improve financial analysis and cut time in reports.
