Group Finance Manager
Sea Portion Food Services Co
Total des années d'expérience :17 years, 4 Mois
* Finance Manager for a leading fast-growing group of 4 Saudi national brands in food industry includes (Shrimp Anatomy, Knead, Om Ismail, Kofat cloud kitchen) with more than 18 branch all over KSA & Egypt with +1200 employee
* Financial Planning for the group ensuring high profitability, new acquisitions, new opening, sales applications, franchise agreements.
* Financial analysis, establishing cost control system since start, managing manpower costs & other overheads, healthy cash flows, managing monthly COGS against standard recipe costs, monitor B2B & franchise sales metrics.
* Reviewing budgets, conducting financial analyses, providing recommendations to allocate funds effectively. ensure compliance with policies and regulations, monitor spending trends, and collaborate with stakeholders to perform cost benefit analysis and develop comprehensive budgets, suggest spending cuts to increase profits.
** Al khabeer Capital is Saudi listed Co prominent asset management that acquired Spring Knowledge Group as part of its educational fund covering whole KSA which will be converted into a joint stock company that represents the largest educational platform in KSA.
** Spring Knowledge Holding Co is a group of 5 educational companies (2 located in Jeddah & 3 located in Yanbu) that includes (21 School, +7, 500 Student, +700 employee).
Responsibilities
• Formulating company’s financial goals, objectives, budgets, financial planning, policies and procedures, in accordance with the strategy determined by the CEO / Board.
• Provides the CEO / Board with monthly dashboard (financial statements actual VS Budget, number of students actual VS target, P&L per School, Receivables ageing, cash reports), board presentations, weekly collection report.
• Prepare yearly budget, set monthly & yearly collection target, suggest fees annual discount policy.
• Supervising and controlling the flow of cash management and expenses to meet the annual budget of the company.
• Leading collection team for 21 School, ensure achieving monthly collection target, review discounts given to students.
• Securing banking facilities for the new building of girl’s schools in Yanbu.
• Leading and coaching finance team of 9 members, carrying out performance appraisals, recommending necessary actions. Responsible for professional development of Finance team through counseling and training.
• Manage the month end close process, direct the internal/external/regulatory audits, prepare recurring & ad hoc reports.
• Ensure accuracy of financial records as per IFRS / GAAP processed thru accounting system.
• Review & Submit monthly VAT / withholding tax return, yearly Zakat return for 5 companies.
• Review preparation of employees’ payroll, GOSI, Staff advances, bonus and salary increments.
• Managing finance functions on the company level to achieve company’s financial targets and plans.
• Formulating company’s financial goals, objectives, budgets, financial planning, policies and procedures, in accordance with the strategy determined by the CEO / Board.
• Assist in the design and implementation of business processes and continuous improvement initiatives.
• Developing and monitoring KPIs to measure and track financial performance.
• Minimize risks and losses that may arise from financial transactions and business operations undertaken by Co.
• Coordinate best practice implementation to strengthen the organization and boost profitability.
• Provides the CEO / Board with strategic financial information, including the preparation of management reports, board presentations and the analysis of financial and statistical reports.
• Leading and coaching finance team of 8 members, carrying out performance appraisals, recommending necessary actions. Responsible for professional development of Finance team through counseling and training.
• Supervise treasury operations, negotiating new banking facilities, recommend on creative ways of financing, interacts with Banks for credit limits and annual renewals, Maintains the relationships with banks dealing with CARE at an efficient level like BSF, SABB, ANB, AL Awal bank, CBQ, Riyad bank.
• Prepare bank presentations with facility requirements & project cash flow for new projects 320M in 2017.
• Review and approve all bank facilities transactions, BB, PB, LC, LG... etc.
• Controlling the flow of cash management and expenses to meet the business and investment needs.
• Negotiating pricing and fees with third party vendors and ensuring continuation and enhancements of services.
• Managing short term cash and routine accounting transactions to ensure that risk is minimized.
• Review credit policies, customer performance, prepare report on high-risk accounts, recommend for improvements.
• Manage the month end close process, direct the internal/external/regulatory audits, prepare recurring & ad hoc reports.
• presents reports required for CARE evaluation done by KPMG & Al Bilad Capital for potential investors including financial modeling, forecasted financial statements, DCF models, repots for over 15 due diligences.
• Review & approve preparation of employees’ payroll, GOSI, Staff advances, bonus and salary increments.
• Ensure accuracy of financial records as per IFRS / GAAP and processed thru CARE's Accounting System
• • Leading and coaching Audit Group, prepare audit plans & programs for the team, Supervising audit work.
• External Auditor perform audits for various companies (limited liability, Listed companies, Nonprofit organizations) and various industries (Medical, Automotive, Education, Manufacturing, Catering, Hospitality, whole sale & retail, governmental, engineering, contracting, transportation, aviation, F&B, FMCG, , , , , etc).
• Perform Financial analysis, due diligence, agreed-upon procedures (AUP) reports.
• Strategic Consulting, business plans & strategy development, Zakat and Tax advisor.
• Assisting and coaching ERP / accounting software implementation, setting up new chart of accounts,
• Examining Financial policies and procedures applied, internal control systems, costing system, inventory system, receivables, fixed Assets, cash management and determining the weakness points
•Establishing and communicating the scope and objectives of the Audit to appropriate members of management.
•Describing the key risks facing the business activities within the scope of the Audit.
•Developing an understanding of business area under review - this includes objectives, measurements and key transaction
types and involves interviews and a review of documents, creating flowcharts and narratives if needed.
•Identifying management practices in the five components of control (control environment, risk assessment, control activities,
information and communication, and monitoring activities) used to ensure that each key risk is properly controlled and
monitored.
•Using Internal Audit Checklist to identify common risks and desired controls in the specific process being audited.
•Developing and executing a risk-based sampling and testing approach to determine whether the most important
management controls are operating as intended.
•Reporting issues identified and negotiating action plans with the management to address these problems.
• Following-up on reported findings at appropriate intervals using maintained follow-up database prepared for this purpose.
•Issuing internal audit report including 5 main components (condition, criteria, cause, consequence, corrective action).
External Auditor
Faculty of commerce, English Section- Menoufia University - Egypt Bachelor's degree, Accounting and Related Services (Study in English).