Ahmed Hamdi

Provide leadership and coaching to over 11 employees within the Finance team and 13 within HR & IT, together managing projects for 17 different companies operating within the real estate industry. Complete and deliver projects worth in excess of 1.5BN AED. Oversee a broad range of activities including financial control, fund raising, strategic planning, feasibility, business planning and forecasting, financial auditing, ERP implementation, systems integration, internal controls, compliance, and treasury and trust accounts management. Direct related IT and HR supporting functions.
Key Accomplishments:
• Reorganized the internal setup of the Finance unit by implementing new policies, controls, and team structures; established second line management, created succession plan, and implemented a new ERP system.
• Reviewed all books to deliver profitability of $25M+ and the release of $55M restricted cash by ensuring compliance with the regulations of various authorities including the Dubai Real Estate Regulatory Agency (RERA).
• Automated tax filing requirements to minimize human interference.
• Ensured alignment across company, departmental, and individual KPIs.
• Raised funds for projects under construction with no additional collaterals; restructured current loans for extended periods with better terms; secured cost-effective commercial terms from vendors/contractors to enhance cash flows.
• Established corporate governance setup to improve corporate structure and tax efficiency, enhance controls, and achieve a stronger group credit profile.

Accountability for managing 13+ local employees and providing supervision to the Finance units within subsidiaries involving multiple teams. Led team building efforts and ensured the accurate and efficient reporting of financial data. Provided support across all company departments as needed.
Key Accomplishments:
• Initiated the implementation of IBM Cognos TM1 to drive collaborative planning, budgeting, and forecasting solutions, as well as an analytical and reporting system to consolidate all financial and managerial reporting outputs for the Central Bank of Kuwait and Kuwait Capital Market Authorities, and Kuwait Finance House (Parent Company).
• Established succession plan by setting in place second line management.
• Applied reporting consistency across all subsidiaries and associates for more efficiency and effectiveness.

.

• Strategic:

o Responsible for designing and implementing accounting and business cycles.
o Developing, implementing and reviewing policies and procedures.
o Participating in strategic planning involving help to align plans with the long term goals.
o Overseeing the direct investments and their performance.
o Monitoring and controlling the departments’ activities to ensure that targets set by the management are met and that processes are being carried in conformity with rules and regulations.




• Managerial accounting:

o Manage and develop the preparation of financial accounts for the company in accordance with International Accounting Standards, IFRS and Shareholders reporting requirements.
o Communicating financial and business performance results to senior management.
o Ensuring that the budgets are prepared in accordance with the corporate business plans.
o Responsible for establishing and maintaining proper cost and profit centers to effectively present financial results for each strategic business unit.
o Analytically reviewing the progress of the operations against the prepared plans and budgets.

• Financial accounting and reporting:

o Ensuring accuracy and timely closure of periodic and year-end accounts.
o Ensure regular and accurate reporting to Regulators i.e Central Bank of Kuwait (CBK) & Capital Markets Authority (CMA).
o Implementing several ERP software packages such as (Oracle, Sage Accpac, MS Dynamics AX) including designing the chart of accounts and integration between the front end and back end systems.
o Handling investments from an accounting perspective.
o Preparing financial statements in conformity with IFRS.
o Coordinating with internal and external auditors for interim and year end audits.
o Disseminating updates on IFRS as applicable to the financial services sector.

1. Establish and monitor, review the proper implementation of financial policies and procedures necessary to maintain proper books and records to ensure all organizational and legislative requirements are met in a timely, cost effective and controlled manner.
2. Communicate adequate systems of internal control to ensure proper custody of assets and to assure accuracy, and adequacy of accounting records and documentation.
3. Prepare and manage budgets.
4. monitor performance against financial plans and seek resolution of variances to ensure effective cost control.
5. Manage the preparation of financial accounts for the company in accord with International Accounting Standards, IFRS and Shareholders reporting requirements.
6. Manage the accuracy of the accounts payable and receivables in order to make timely collections and payments.
7. Following up investments, Associates & subsidiaries relates issues which include (Capital calls, budgets, related equity accounting…etc).
8. Mange the financial reporting standards and review reports / recommendations prepared for the management.
9. Ensure regular and accurate reporting to Central Bank of Kuwait & Capital Markets Authority.
10. Prepare the reports related to Basel (II).
11. Develop periodical financial management information reports.
12. Establish effective working relationships with banks, financial and credit institutions to pursue and negotiate the securing best rates.
13. Ensure efficient cash management to meet the company needs.
14. Forecasting short and midterm requirements.
15. Review the effectiveness of internal systems and adequacy of internal controls.
16. Ensure that all recommendations and findings identified by audit (if any) are acted upon promptly with the necessary action.
17. Setting individual objectives, managing performance, developing and motivating staff, provision of formal and informal feedback and appraisal in order to maximize subordinate and departmental performance.

1.Review journal vouchers and account statements etc.
2.Ensure the accuracy and timely closing of periodic and yearly accounts.
3.Ensure compliance with the agreed policies and procedures in performing their role.
4.Coordinate with External Auditors to ensure that the audit is carried out smoothly.
5.Coordinate with other departments and obtain all necessary nformation and provide information to various departments and committees, as desired.
6.Ensure regular and accurate reporting to Central Bank of Kuwait.
7.Prepare the reports related to Basel (II).
8.Ensure smooth inflow / outflow of documents or information required for proper control accounting.

01.Reviewing all the financial issues ( AR/AP/Bank Accounts / Inventory / Purchases). 02.Exercise adequate controls related to payment processing and ensure that there are no errors in the payments made (amount, party etc.) 03.Facilitate and complete monthly close procedures 04.Insure financial reporting deadlines are met. 05.Assist in annual budgeting exercise 06.Preparing monthly & annual financial statements. 07. Participating in the implementation of ACCPAC.