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الديسطي توكل السيد, Chief Financial Officer

الديسطي توكل السيد

Chief Financial Officer·AIMCO Holding Co

Saudi Arabia

Doctorate, Business Administration And Commerce

Work experience

Total years of experience: 25 years, 8 months

Chief Financial Officer

June 2022 - Present

AIMCO Holding Co

Riyadh, Saudi Arabia

June 2022 - Present

• Revamped the organizational structure of finance.
• Oversee finance department operations across diverse business lines.
• Created financial guidelines and processes aligned with IFRS standards and best practices.
• Created a comprehensive chart of accounts to enhance financial reporting and analysis across the organization.
• Developed business and financial plans, including subsidiary budgets.
• Oversee group cash flow.
• Streamlined workflows and rationalized costs by restructuring the group.
• Created both standalone and consolidated financial statements in compliance with IFRS.
• Generate analytical reports to measure financial performance.
• Performed in-depth evaluations of financial and strategic factors for informed decisions.
Company industry:
Manufacturing
Job role:
Finance and Investment

Chief Financial Officer

December 2021 - June 2022

Naqi water Company

Alqasim, Saudi Arabia

December 2021 - June 2022

• Monitoring day-to-day financial operations within the company such as invoices, receipts, check payments, and other transactions
• Restructure the finance department
• Managing company cash flow and ensuring funding of the company If needed including loans etc.
• Provide and implement strategic financial plans, budgeting, and forecasting
• Managing a variety of finance and accounting functions pertaining to areas such as collection and payment processing, payroll, dealing with banks, local customers, local and international suppliers
• Reviewing and analyzing financial reports constantly and assists management to make financial decisions
• Execute short and long-term financial strategies and plans to reach company goals
• Preparing and presenting analysis reports to the management highlighting business issues, potential risks, and profit opportunities
• Oversee the business planning process, ensure financial support to the other sections and departments.
• Supported discussions with investors and IPO documentation process.
Company industry:
Water & Waste Water Treatment
Job role:
Finance and Investment

Group Finance Manager

January 2020 - December 2021

Savana Trading Co

Riyadh, Saudi Arabia

January 2020 - December 2021

• Monitoring day-to-day financial operations within the company such as invoices, receipts, check payments, and other transactions
• Restructure the finance department
• Managing company cash flow and ensuring funding of the company If needed including loans etc.
• Conducted thorough analysis to guide decision making.
• Provide and implement strategic financial plans, budgeting, and forecasting
• Implementation Of ERP
• Managing a variety of finance and accounting functions pertaining to areas such as collection and payment processing, payroll, dealing with banks, local customers, local and international suppliers
• Reviewing and analyzing financial reports constantly and assists management to make financial decisions
• Compiled financial statements adhering to IFRS.
Company industry:
Sports & Outdoor Activities
Job role:
Accounting and Auditing

Head Of Finance

January 2019 - December 2019

Saudi bell Co.

Riyadh, Saudi Arabia

January 2019 - December 2019

As a Finance Head, I am responsible for
• Responsible for effectively managing the Finance department and related activities by proficiently conducting and managing the financial planning of the company.
• Ensuring the timely production of all supportive documentation, ensuring effective coordination with SBUs and external auditors and ensuring adherence to risk policies and procedures.
• Ensure that the departmental policies, strategies, initiatives and plans are developed and implemented effectively
• Provide guidance and support to employees in the execution of their work and ensure proper knowledge transfer to develop them and improve their performance
• Manage the achievement of the Finance function’s objectives through providing support to all staff, assisting in recruiting qualified personnel, ensuring optimal employee performance and providing motivation to improve performance and productivity
• Operationalize the process of change through continuous improvement of functional systems, processes and practices taking into account ‘international best practice’, changes in international standards and changes in the business environment which demand proactive action plans
• Prepare the 2016’ Annual Financial statements for 2 Companies
• Restructure the Finance department.
• Prepare the annual budget.
• Prepare Policy & procedure
Company industry:
Telecommunications
Job role:
Accounting and Auditing

Group Financial Controller

September 2017 - December 2018

Jana Investment Co.

Riyadh, Saudi Arabia

I found this job using Bayt.com

September 2017 - December 2018

As a Financial controller, I was responsible for
1. Prepare the 2016’ Annual Financial statements for 7 Companies
2. Restructure the Finance department.
3. Prepare the annual budget.
4. Prepare Policy & procedure
Company industry:
Merchandising
Job role:
Accounting and Auditing

Finance Manager

October 2015 - September 2017

Aljabr Soft Drink Co

Al-Ahsa, Saudi Arabia

October 2015 - September 2017

Report directly to the Executive Director and CFO, the Finance and Accounting functions including financial planning, financial forecasting, auditing, budgeting, controlling, financial reporting, and all accounting functions. I spearheaded a project to implement MS Dynamics AX software throughout the company to improve financial reporting and streamline work processes. Provide strategic operational input and manage all financial risks.

Key Achievements:
 Prepare the 2016’ Annual Financial statements
 Business decision maker for New ERP (AX.12, Microsoft dynamic)
 Re-structure the Cost.
 Re-structure the finance department (Function wise)
 Prepare the annual budget
 Developed effective finance team, process and control improvements and developed industry specific COA. ________________________________________
Company industry:
Heavy Industry & Metallurgy
Job role:
Accounting and Auditing

Accounting Manager

September 2007 - October 2015

Alessa Industries Co

Riyadh, Saudi Arabia

September 2007 - October 2015

Start the Career from Accountant to Accounting Supervisor to Chief accountant and finally As an Accounting manager
I was responsible for.
 Suppose the appropriate policy to manage the cash flow.
 Prepare the Annual budget of 2014 by cooperating with other departments.
 Restructure the accounting department to adhere with segregation of duties ‘principle.
 Prepare the financial statements on a monthly, quarterly and annually basis.
 Analyze the financial statements and compare the actual results with budget and recommend the appropriate solution.

Key Achievements:

 Prepare the financial statements on a monthly, quarterly and annually basis.
 Supervise the implementation of NAV (Microsoft dynamic) ERP until go live.
 Reorganize the accounting department.
 Fix cash disbursements policy and eliminate the complaints for cash disbursements process.
 Reduce the work flow in accounting department.
 Reduce errors by segregate the duties between accounting staff.
 Reduce the work flow as follows
o Eliminate unnecessary phases form cash disbursements process
o Proposes Authority matrix to all levels in finance department.
o Eliminate some manual process and make it through the system
 Control the work as follows
o Segregate the duties between the staff.
o Rotate the staff according to a plan.
 Reduce numbers of petty cash to be one for each department.
 Reconciliation of almost local and foreign suppliers (about 300 suppliers with old balances).
 Fix a process to match payroll register with general ledger and control the accrued salaries.
 Reduce employee’s complaints with regard to their benefits through easing the payment process.
 Initiate and build the accounting system for Alessa advanced projects Co.
 With the help of my team reduce closing period from 10th of the month to 3rd.
Company industry:
Heavy Industry & Metallurgy
Job role:
Accounting and Auditing

Accountant

September 2005 - August 2007

Alahlia insurance Co.

Riyadh, Saudi Arabia

September 2005 - August 2007

As an Accountant I was responsible for
 Accounts receivables and Broker’s commissions.
 Assigned to solve the problems with big brokers and customers (result in huge savings to the company.)
 Prepare chart of accounts for the company and implement it in new ERP
 Prepare the chart of account for Al-Ahlia insurance Co. according to SAMA's request.
 Bank transactions and bank reconciliation.

Key Achievements:

 Prepare the commissions for brokers.
 Prepare the chart of accounts.
 Reconcile and solve the difference with Almaroz (broker) which result in a huge savings for the company.
 Solve many issues for insurance claims.
Company industry:
Insurance & TPA
Job role:
Accounting and Auditing

Accountant

June 2002 - August 2005

Omar Ali Balsharaf Est.

Riyadh, Saudi Arabia

June 2002 - August 2005

The duties included but not limited the followings:
 Analyze and prepare the monthly report for both expenses and revenues for the H.O and branches (14th branches).
 Sales representative’s commissions.
 GL transaction.
 Fixed assets.

 Bank ‘reconciliation.
 Assigned to solve the problems with big customers of the company by tracking the transaction and introduce the correct difference between the company and its customers (result in solving many problems)

Key achievements
 Analyze expenses and revenues for the company.
 Handle the fixed assets and insurance for the company.
 Build a good database for the commissions of sales team.
 Solve a big problem with Major customers.
Company industry:
FMCG
Job role:
Accounting and Auditing

Accountant

November 2000 - June 2002

Almidan recruitment Office

Riyadh, Saudi Arabia

November 2000 - June 2002

 Was in charge of accounting and some administration issues
Company industry:
Human Resources Outsourcing
Job role:
Accounting and Auditing

Education

American international theology Unversity

September 2022

September 2022

Doctorate, Business Administration And Commerce

United States

CPA

June 2014

June 2014

Higher diploma, AUDIT-FINANCE

United States

GPA (percentage): 80%

GPA (percentage): 80%

Audit Finance Budget

CMA

December 2011

December 2011

Higher diploma, ACCOUNTING-FINANCE

United States

GPA (percentage): 78%

GPA (percentage): 78%

Budget Finance accounting

Mansoura University

May 1996

May 1996

Bachelor's degree, Accounting-Finance

Egypt

GPA (percentage): 76%

GPA (percentage): 76%

Finance Accounting

Skills

FIX

Expert

Savings

Expert

Insurance

Expert

Branches

Expert

Brokers

Expert

ERP System,Oracle (Alpha Maser) , Delta, Microsoft Axapta 2003 ,Axapta 2009, NAV

Expert

Ms.Office

Expert

 Excellent reporting abilities, Computerized Accounting, Proficiency with MS Word, Excel

Expert

 Ability to solve accounting issues by analyzing and putting the proper policies and procedures.

Expert

 Ability to lead and training a team to achieve the goals of a company.

Expert

Brokers

Expert

Branches

Expert

Insurance

Expert

Savings

Expert

FIX

Expert

Languages

Arabic

Expert

English

Expert