Chief Financial Officer
Riyadh Investments Group
Total years of experience :24 years, 5 Months
Group CFO For the following Companies:
Riyadh Investment Company L.L.C
Ramah Aluminum and Metal Coating
Al-Makateb Co. LTD
Saudi Turf Co LTD
Riyadh Metal Industries Company L.L.C
• Calculate the risks involved in the financial activities of the company.
• Develop standard accounting procedures to improve financial operations efficiency.
• Provide financial reports and interpret financial information to managerial staff while recommending further courses of action.
• Control income, cash flow and expenditure.
• Develop corporate budget along with its management and monitoring processes.
• Evaluate the financial performance of the company and measure returns on investments.
• Provide financial insight and analysis to drive the business performance of the company.
• Manage and monitor the business metrics, KPIs tracking, and reports.
• Make estimates of funds required for the short and long-term financial objectives of the company.
• Ensure the accuracy of all entries for registering expenses& revenue, banks transactions, purchase, sales, and payroll.
• Responsible of social insurance settlement.
• Prepare files of taxes accounts.
• Restructuring of stressed Balance Sheet to maintain the right level of fund requirements.
• Improve the working capital and maximize the free cash flow.
• Develop strategies for optimizing the company’s liquidity and credit availability.
• Ensure the effectiveness of the ERP system implementation.
• Responsible for mapping and identifying improvement of existing finance and operation processes
• Conduct feasibility studies and investment analysis as needed.
• Monitor and analyze monthly operating results against the budget, flagging items for follow-up and highlighting significant developments to top management when necessary.
• Recommend and monitor benchmarks for measuring the financial performance
• Work with managers to develop short term & long term financial goals for the company
• Manage all staff in finance department all over the whole locations of the company.
• Oversee cash management banking and financial institution relationships. Negotiate bank and service fees.
• Monitor and analyze monthly operating results against the budget, flagging items for follow-up and highlighting significant developments to top management when necessary.
• Review MIS report and prepare closing summary to the top Management.
• Restructuring Chart of Account & chart of cost center to adopt the critical changes in the business environment specially for applying new ERP System.
• Review and close weekly A/R report, A/P Report, Cash Flow statement, G/L account and revenue report
• Prepare and close monthly departmental Profit and Loss and financial statements
• Setting and monitoring budgets and KPIs.
• Provide analytical support to the Senior Management and line managers.
• Prepare and manage ad-hoc reports
• Ensure timely and accurate submission of local Tax returns
• Work on keeping ERP system proceed as targeted and planned, as I was the project manager for implementing SAP Business one for three of the groups various Companies.
• Liaise with auditors and manage audit process to ensure timely reporting to Group, local authorities and third parties.
• Document as per company policy/accounting & audit standards
• Conduct full G/L review checks as part of the closing process.
• Reconcile intercompany transactions before deadline.
• Review and approve monthly Payroll reports and commission payments, ensuring that their calculation is aligned with the approved scheme
• Highlight improvements in internal controls to Management
• Forecast cash flow positions, related borrowing needs, and available funds for investment
• Develop financial management mechanisms that minimize financial risk
• Identify, investigate, and analyze potential operational improvement areas
• Be up to date financial regulations and legislation.
• Built strong relationships with key stakeholders.
•Provide leadership to finance and accounting areas of the organization.
• Provide useful financial insights to help make better decisions about formulating and executing strategy, and provide guidance and analysis to executive and operational management to improve results.
• Maintain system of accounts and keep books and records on all transactions and assets.
• Prepare and analyze accurate monthly financial and management reports, including income statement, balance sheet, budget and variance, projections and forecast, and cash flow.
• Maintain control of the following areas: general ledger, accounts payable, expense reports, billing, and payroll.
• Assist in the management of grants reporting, compliance, and reconciliation.
• Prepare a variety of ad hoc financial scenarios as requested.
Transactional Responsibilities:
• Ensure that all financial transactions are processed accurately, in a timely manner, and in accordance with generally accepted accounting principles.
• Develop, implement, and maintain processes and controls that are current best practices related to transaction processing.
• Manage, oversee, process (as appropriate), and act as backup for processing all of the following transactions: payroll, accounts payable, revenue and expense, fixed assets, cash, bank reconciliations, and allocations.
• Perform month-end closing procedures, including overhead allocations, account reconciliations, and updating schedules.
• Maintain an orderly accounting filing system. Reporting Responsibilities:
• Assist in issuing timely, accurate, and complete financial statements for all levels, including Board of Directors, executive, and management.
• Assist in coordinating the preparation of the draft audited financial statements and all tax returns.
• Coordinate the preparation of financial information in the corporate annual report.
• Recommend and report upon benchmarks against which to measure organizational performance.
• Calculate and issue financial and operating metrics.
• Assist in production of cash flow reports, annual budget, and forecasts.
• Calculate variances from the budget and report significant issues to management.
• Provide for a system of management cost reports.
• Provide financial analyses and models as needed, in particular for capital investments, pricing decisions, and contract negotiations.
• Oversee financial operations of our company.
• Manage and provide ongoing training to accounting personnel.
• Conduct weekly and monthly financial assessments and generate reports to be submitted to the senior management team.
• Establish budgets in accordance with the requirements of company departments.
• Allot funds for capital projects and work with the Director of Facilities to ensure they stay on track financially.
• Develop annual financial plans and projections for the company
• Conduct analysis of financial risks and benefits on business initiatives.
• Aggregate Cash flow projection & analysis which maintain liquidity for keeping operation going with rationalizing cash expenditure.
• Managing relationship with banks & financing institutions.
• Prepare company financial statements monthly and annually, as needed.
• Oversee all accounting work and set up internal and external audits to ensure the accuracy of information.
• Establish internal work processes for financial department (including accounting and billing) and monitor their progress.
• Analyze and interpret financial data and present the information with reports and presentations to the board of directors and executive director.
• Driving the company’s financial strategy and planning throughout the best Financial Practice, techniques, and Modelling.
• Assist in the process of preparing annual budgets by providing assistance / directions to managers
• Review all of contractors invoices, labors payable cost schedule
• Prepare the monthly Assets & Liabilities reconciliation along with their supportive backup
• Ensure that all pending A&L balances are resolved on a timely manner
• Follow up the collection of the A/R balances
• Responsible for the month end closing process
• Review the vendors' payments.
• Ensure the adequacy of internal control system
• Review the monthly P&L results with the department managers
• Handle the matters related to tax authorities either dues settlement or tax audit.
• Ensures that accounting activities are performed according to legislation.
• Ensures timely consolidation of balance sheets, profit and loss, etc.
• Assures adequate documentation/support of transactions and reports
• Managing company budgets
• Consider, review and verify costs, expenses, and revenues
• Plan and direct the efforts of the employees in the financial department of the company
• Supervising all operations and activities that the Finance Department.
• Prepares statements and reports of estimated future costs and revenues.
• Report financial results to management, the board of directors,
• Using effective Financial Modeling and analysis in decision making.
Reviewing all the accounting & financing activities for the company
*Managing & reviewing the whole relation with banks & financing
issues (LCs, LGs, Current Accounts, deposits, etc….)
*Reviewing & directing the whole journal entries in the accounting
cycle, ensuring that the flow of the accounting cycle is going in parallel
with applied standards & rules.
*preparing the final financial position for the company each
month, (reviewing & directing the trial balance, preparing the income
statement & balance sheet for the monthly closing, preparing for most
of the analytical sheets regarding Administrative expenses,
Manufacturing expenses, cost of goods sold .
*Reviewing & controlling the whole process of the temporary custom
releasing & draw back issues regarding the importing materials to be
exported as finished products.
*Analyzing the cost of goods sold & Manufacturing expenses to the
level of each product, (horizontal & vertical analysis).
*preparing for the final closing for the fiscal year & quarters closings
by all needed sheets & analysis which totally facilitate the work of
audit firms to finalize the financial position issuance.
*preparing the annual budget, reviewing & set up the required analysis
of comparisons, & deviation between actual results & budget on
quarterly basis.
*Performing all the feasibility studies for new projects, & giving the
required projections for the future business trends in comprehensive
analytical sheets.
* Composing the needed training courses for the financial team to
improve performance & reaching efficiency points.
* Setting up the required policies, regulation, & rules for organizing
the business cycle for the various business levels.
* Managing warehouse, setting policies & regulations directing the flow
of transactions for receiving, issuing, & inventory control.
* Managing & controlling the process of settling the import & export
certificates of customs within the system of temporary customs
releasing & drawback.
* Reviewing & preparing the analysis & forms for sales tax, withhold
tax, & salaries tax & holding the tax inspections with taxation
authorities.
* preparing for the whole procedures of Board of directors meetings, &
general assembly meetings starting from preparing agendas ending by
authorizing the documents from the general investment entity.
* controlling the cash flow Management, preparing the required
analysis monthly for the resources & payments.
* the main aspects of achievements represented in restructuring the
financial dept. in my current job, as when I joint the company I found
that there were a lot of obstacles in performing the daily & monthly
tasks, I have exerted a lot of effort by putting a comprehensive plans
to enhance the role of individual accountants & to also motivate the
team work spirit, plus making the proper adjustments in the
documenting cycle to improve the time used to implement the working
tasks, these all have been reflected in less using of paper documents
Handling journal entries & analysis regarding to Internal & External
Suppliers, performing the appropriate transactions regarding it on
Oracle.
*Recording some bank transactions on Oracle & Performing Bank
reconciliations & analytical sheets for it,
*Analyzing General & administrative expenses occurred each month.
*Handling the Procedures for Letters Of Credit & Letters of guarantee.
*Issuing Payment For the suppliers & vendors.
*Holding Fixed Assets registry & performing the required adjustments
regarding additions & disposals in fixed assets.
*Performing the monthly analysis regarding manufacturing Expenses &
Preparing the analytical statements regarding the cost of goods sold &
Inventory Assessment.
*Preparing analysis sheets regarding cost of resources on (MAC) which
are entered to the Cost of goods sold specially regarding Human
Resources, & Depreciation & manufacturing expenses.
*Handling CAPEX & OPEX controlling sheets & its monthly & annually
analysis.
*Responsible for all customers’ A/R accounts
*Following up Customers’ balances
*Dealing with Sales Reps
*Following up on daily sales (Cash/ Credit)
*Following up collection from Customers
*Following up Customer Contracts
*Issuing all A/R reports on daily/weekly/monthly basis
Performing the Whole Analysis Related To Accounts Payable &
Preparing For Entries
Covering the Accruals & The payment For Suppliers & Subcontractors,
*Performing Bank Reconciliation & its related Adjustments, also
handling the fixed assets registry with all its adjustments.
*That Is all For the last Two Years during the period that I spent over
there before that I have appointed to handle the Department of
Treasury & Advances, by managing the Transactions of Treasury & to
Prepare & Audit the Journal Entries Which Is Generated in Treasury &
Advances Depts. by My Self & Other Companions
*performing bank reconciliation, holding all the cash management
activities, arrange & issuing checks for suppliers, performing analysis
for cash movement & its journal entries.
*Handling all the financial affairs for Accounts Receivable,
*Recording the Invoices issued by the company and performing the
whole accounting Procedures for the Accounts receivable till these
invoices Collected from Clients.
*Performing the general & administrative Monthly Expenses Analysis,
Preparing for Monthly Journal Entries & Adjustments.
*was appointed to establish the branch of Sudan from the financial
aspects, handling the whole accounting cycle, controlling relations with
banks, reporting financial statement to the headquarter. Allocating
costs & expenses for each site.
* During working at the company I have traveled in several business
missions in Sudan, Algeria, Morocco, Tunisia, & Nigeria, this is was for
about two years over there in the company’s projects in North Africa.
, specialization in
Grade of Graduation : Pass. Completed Education: