Chief Financial Officer
MF-FOOD Trading Co. W.L.L
Total years of experience :21 years, 2 Months
Finance functions involving determining financial objectives, designing & implementing systems, policies & procedures, conducting cost analysis & reporting variances to facilitate financial control and payroll procedures and management.
Developing operational metrics with other business and operations groups and implementing Balanced Scorecard strategies.
Performing analytical review of financial operations of the company.
Conducting Internal Audits with a special emphasis on cost control, elimination of duplication of work, strengthening internal control procedures and reporting to the management.
Investigating and understanding key business issues behind the numbers and providing clear, concise and timely analysis & recommendation.
Coordinating with External/Internal Auditors / Officials and other regulatory authorities to ensure compliance with audit memos/IFRS.
Assure program quality and organizational stability through development and implementation of standards and controls, systems and procedures, and regular evaluation.
Provides general oversight of all activities, manage the day-to-day operations, and assure a smoothly functioning, efficient organization.
key Achievements
1. Hired and trained staff for finance department.
2. Establishment of a Kuwaiti shareholding company and set up
user accounts.
3. Developed & Implemented SOPs for Finance, Internal Audit, &
Operations.
4. Processing stock losses as a result of the global financial
crisis, according to international accounting standards.
5. Payroll settlement byproducts and in accordance with the
standards of legitimacy and exit partners and redistribution of
equity shares.
6. Finding solutions to claims by the Ministry of Electricity in Real
Estate was sold several years.
7. Preparation of annual budgets and monitor, analyze and
evaluate the performance of the system.
8. Analysis of the performance of the internal control system and
the discovery of a risk and find appropriate solutions to
prevent it.
Finance & General Accounting
A. Continuously monitor the rate of change of accounts
receivable balances and collect payments due under the
credit limits of their contracts.
B. Undertaking complex reconciliations Relating Corporate
Customers, Suppliers, & Foreign Banks. Managing Finances
& Remittances particularly In Relation to Foreign Banks &
Suppliers Abroad. Verification & Authorization of Payable
Invoices ensuring Tax deduction & income where required.
C. Periodical Management &Segment Reporting For Different
Business Units & Branches. Administered Proper Allocation of
Expenditures to Cost Centers & GL accounts. Consolidation &
preparation of Financial Statements.
Budgeting & Costing
D Preparation of Cost Sheets ensuring absorption of All direct
Cost for projects and Pricing of units in line with targeted profit.
E. Allocation of Sales Over head as per pre-defined criteria.
F. Maintaining control over Budgeted Expenditures & Reporting
Variances.
Internal Audit & Control
G. Conduct risk assessment of assigned department or
functional area in.
H. Established required Timeline Develop & Implement checks &
controls to ensure accuracy of Financial Data recording.
I. Monitor & review accounting & business system reports for
accuracy and completeness.
J. Supervise the input, and handle financial data and reporting
from accounting application.
K. Review Daily Reports Submitted by Branches.
L. Performing Semi-Annual Audit of Branches.
Credit Control
M. Debtor Management, Assessment of Credit Limit & Days for
Corporate & Non Corporate Accounts.
N. Developments & identifying accounts requiring special
attention.
O. Maintaining accurate individual measurement and
performance.
P. Statistics. Issuance of Dunning Letters to overdue accounts.
• Recording daily entries in the sub journals and general journal.
• Posting entries to sub ledgers and general ledger.
• Preparing monthly trail balance.
• Supervision the clients accounts in the company.
• Follow up on all payments from clients, auditing the daily entries and posting to sub ledger.
• Preparing monthly actual and proposed budget for client collections analyzing the variances and present solutions.
• Set the monthly collection targets for the collectors.
• Preparing monthly trail balance for clients.
A. Answering to queries of the customers related to the
procedures and policies of the businesses.
B. Creating reports and analyzing the market trends to gather the
information regarding the processes.
C. Helping in managing and assessing of the risk involved in the
business.
D. Providing the solutions to the companies and the clients for
the risk.
E. Doing market research to prepare an overall audit of the
project.
F. Audit sampling and make sure they reflect the genuine nature
of the activity and institutions in accordance with the standards
and internal and international policies.