Finance Manager
Emirates Macaroni Factory
Total years of experience :21 years, 6 Months
Developing, implementing and managing strong finance, accounting and reporting frameworks across Egypt and UAE (Head Quarter) and providing strategic information and advice to both Egypt and UAE respective management teams.
Responsibilities:-
Overseeing the finance and management accounting function within Egypt and UAE entities.
Ensuring timely and accurate financial information is provided to department managers to help them make effective and informed decisions.
Continually improving and evolving reporting process and implementing effective cost control solutions and practices to optimise efficiencies.
Oversight of month end closing activities and ensuring accurate and timely financial submissions.
Developing and reporting performance measures that support the company's strategic direction.
Analyzing transactional processes and identify areas where additional accuracies and efficiencies can be achieved.
Managing the capital expenditures and budgeting processes, forecast cash flow positions, related borrowing needs, and funds available for investment.
Providing accountability for the timely and accurate administration of the budget and forecast planning cycle.
Ensuring that sufficient funds are available to meet ongoing operational and capital investment requirements.
Using hedging to mitigate financial risks related to the company’s borrowing activities as well as on its foreign exchange positions.
Advising management for equity financing and debt financing arrangements.
Advising management on the liquidity aspects related to short / long-range projects.
Timely reporting on AR collection activity and participates in resolving billing and customer credit issues.
Periodically reviewing of customers contracts and overseeing the extension of credit to customers.
Working with field office staff and strategic account managers to resolve all customers billing and collection issues.
Developing and managing efficient treasury protocols including management of cash balances and cash forecasts.
Providing the business with relevant financial support to enable effective planning while applying budgeting and forecasting techniques.
Creating and managing new projects budget from bid evaluation, contracting and updated projecs information from various departments.
Calculating, evaluating, and verifying the estimates required to complete specific projects with various departments.
Regular contacting with different business units to ensure their full understanding of business performance and financial results.
Identifying, implementing and managing potential improvements in financial performance through effective utilising of data analysis and key value drivers.
Conducting various financial and organizational studies in order to analyze and suggest means for optimal utilization of resources.
Supporting the team in various decisions with analysis and ensuring objectives are met at all times, utilizing teamwork to develop departmental synergy.
Monitoring compliance with generally accepted accounting principles and company procedures, assuring compliance with local and corporate policies, regulations and laws.
Managing the year-end audit process in conjunction with the appointed auditors.
Achievements:-
Introducing for the first time a full set of functional and reliable reports for all Accounting and Financial purposes.
Supervision and training of reliable finance and accounting team.
Successful maintenance of most of open receivable accounts.
Developing and maintaining strong business relationships with external stakeholders including auditors and regulatory departments.
Maintaining a system of policies and procedures that impose an adequate level of control over finance and accounting activities.
Responsibilities:-
Supporting the Company’s mission, vision, values and goals.
Preparation of the monthly statutory accounts and consolidated financial statements under US GAAP and IFRS information.
Determines proper handling of financial transactions and approves transactions within designated limits.
Planning, assigning and reviewing staff’s work.
Producing error-free accounting reports and presenting their results.
Analysing financial information and summarising financial status.
Providing technical support and advice to management.
Reviewing and recommending modifications to accounting systems and procedures.
Participating in budgeting setting and in forecasting process.
Providing input into department’s goal setting process.
Preparing financial statements and producing budget reports according to schedule.
Supporting internal and external audits to ensure compliance.
Supervising month-end and year-end closing process.
Developing and documenting business processes and accounting policies to maintain and strengthen internal controls.
Adhereing to internal and external deadlines.
Staff management and development.
Achievements:-
Formation, Supervision and Training of high qualified accounting team.
Coached Business Unit team members who are being given P&L and working capital responsibility for the first time, helping them understand what the financial reports mean, and what choices they have in improving the operating performance of their Business Units.
Participated in developing strategy for project, sales, advertising, and marketing teams.
Supervised ERP implementation - (Oracle) in all company subsidiaries.
Supervised the financial requirements for all new projects including budgeting, financing, procurement, risk management, and all other project related requirements.
Re-engineered cash collection processes to reduce AR, in the same time established more profitable, lower risk, more co-operative relationships with key customers.
Improved statutory accounting procedures, allowing the company to produce timely monthly financial statements.
Introduced management reporting into several company subsidiaries, customising the output reports to meet each company's specific requirements, assisted in designing management reports which were produced in a format that managers understand and which helps them make better and faster decisions.
Designing of dashboards in addition to a wide range of budgeting, project costing, and other related analytical reports for management usage purpose.
Responsibilities:-
Managing the day to day activities of the Accounting and Finance Department.
Ensuring timely and accurate closing of monthly financials for the Company.
Ensuring accuracy of all accounting entries before posting in the System.
Ensuring periodic review and analyses of account details.
Ensuring existence and implementation of internal control policies.
Ensuring timely preparation of management reports and schedules.
Ensuring timely completion of external audit through proper coordination and efficient submission of documents and schedules required by the auditors.
Ensuring sufficient funding on operations requirements.
Monitoring cash flows of the company.
Responsible for dealing with banks on all banking matters.
Responsible for obtaining and renewal of credit facilities with bank and responding to all queries and requirements of the bank.
Ensuring continued cash flow from operations, particularly on collections from Internal & External clients.
Ensuring maximization of System usage for the Company.
Ensuring standard application of the system in the company.
Responsible for creating and updating the Financial Reporting System of the Company.
Ensuring continued development and improvement on the System to meet the requirements of the Company.
Reviewing Purchase Orders in compliance with company policy and procedures.
Reviewing inventory transactions entries before posting to System.
Ensuring accuracy of inventory level per book against actual, though periodic inventory count activity.
Budgets, Reports and Others.
Responsible for drafting group’s operational and capital budgets and forecasts for approval of the Top Management.
Preparation of monthly financial reports and analysis and to develop other reports as needed and requested by management.
Developing standard accounting policies and procedures throughout the department
Performing daily and monthly tasks including:-
1-Journal voucher recording.
2-Cheques Issuance.
3-Bank reconciliation.
4-Payroll and salaries transfer review.
5-Leave, Indemnity & social security calculation.
6-Custody & petty cash reimbursement.
7-Contractors percentage of completion calculation.
8-Bank guarantees follow up.
9-Handling the fixed deposit account.
10-Reviewing loans & overdraft interest’s account.
Handling monthly end balances including:
1-Stock balances.
2-Staff debtors.
3-Prepaid exp.
4-Accruals.
5-Foreign Currency accounts.
Preparing monthly financial reports and records by collecting, analyzing and summarizing account information, Compiling and analyzing financial information to prepare entries to accounts.
General Ledger reconciliations.
Preparing and reviewing expenses, invoices, payroll entries and other accounting entries.
Fixed asset reporting.
Reviewing bank statements frequently.
Performing financial and profitability analysis on a requested basis.
Vendor reconciliation/ Supplier reconciliation/ Intercompany reconciliations. and reconciling general ledger and subsidiary accounts
Bachelor in commerce & business administration - 1998 Accounting Major - English Section.