Chief Financial Officer / Finance Director
Al Qataria for Production of Reinforcing Steel
Total des années d'expérience :32 years, 1 Mois
Currently working as Finance Director / Chief Financial Officer with one of the largest steel rebar manufacturing company in the region with capacity of 500, 000 m.t per annum. Reporting to Board Member & Managing Director and managing the Finance, IT, Sales and Purchase Department.
Work area and accomplishments include the following:
•Finalized the audited financials & tax return for past many years within 4 months of joining.
• Started Monthly Detailed Financial reporting, costing of rebars and supervised the accounting team & sales team.
• Participated in Monthly Board Meetings and prepared detailed presentation for the Board covering all areas including finance, procurement, sales strategy etc.
• Single handedly prepared and implemented policies and procedures for key areas.
• Restructured bank facilities of USD 200 Mn with huge savings in interest cost and commissions. Arranged working capital facilities of USD 75 Mn and currently working on increasing the same by another USD 60 Mn.
• Saved more than QR 7 Million on bank commissions (QR 2 Mn), insurance premium (QR 0.4 Mn) & by implementing invoicing on theoretical weight for rebars (QR 5 Mn).
• Corrected wrong entries in audited financials of past years involving huge amounts within 6 months of joining the company. Booked income of around QR 800, 000 upon rectification.
• Devised formats and implemented Daily Reports for Production, Rebar Delivery & Stock Report for better control. Implemented incentive scheme to boost plant productivity and profitability.
• Key role in sourcing billets from international suppliers resulting in substantial cost reduction.
• Saved around QR 3 Million for the company by renegotiating rates for cut and bend contract by convincing client to revise the rates after the award of the contract.
• Prepared Business Plan for 5 years and monitored the performance against the plan.
• Managed receivables with zero bad debts on more than One Billion Revenue.
• Negotiated terms with Woqod, reduced guarantee amount issued against margin, for gas consumption, by around QR 1.50 Mn
• Prepared MOU’s with customers / supplier regarding long term arrangement for sales of rebars and purchase of billets.
• Approval of credit facilities for customers with thorough review of credentials.
• Devised pricing structure, targets, discounts, payment terms for each customer.
• Played crucial role in signing up of large quantity customers with minimum quantities on monthly basis resulting in full utilization of plant capacity, increase in sales and profitability.
• Finalized fully integrated ERP system specifically designed for steel mills
Nabina is one of the prominent groups in Qatar engaged in business of building material trading, kitchen & door manufacturing, marble manufacturing, contracting & elevator business. Reporting to the Chairman and supervising team of Accounts Managers.
The task involved a major overhaul of the accounting and finance functions of the Group This required me to: -
• Prepare a road map for proper business planning
• Restructuring of building material trading, kitchen &door manufacturing business with reduction in costs and improved business process.
• Preparation and monitoring of cost and profitability for major kitchen, doors supply contracts with real estate developers
• Review and revise contractual arrangements for insurance and other services in order to achieve substantial immediate savings
• Streamline and optimize purchasing and inventory management
• Improve IT in order to automate previously manual tasks while at the same time improving quality and timeliness of information available to senior management
• Developed product line wise, item wise, invoice wise, month wise, customer wise, sales executive wise sales, margin & quantity sold reports for all companies.
Almana is one of the largest diversified groups in Qatar having more than 15 companies engaged in wide range of businesses. Reported to Group CFO, Owners & managed a team of 15 accounts managers, controlling all accounting & finance functions. The important functions included:
• Supervised preparation of operational, financial performance reports including group consolidation with emphasis on KPIs and KRIs. Reporting included segment wise performance of units / departments, reasons for variances between actual & budgeted figures.
• Management of group liquidity by arranging, funding from banks and capital markets. Played key role in preparation of business plans, presentations, writing business description, interacting with lead managers, legal advisors for raising funds through two SUKUK issues listed at London Stock Exchange and Nasdaq Dubai
• Management of relationship with auditors, lawyers and rating agencies
• Evaluation of new projects, new joint ventures and group investments
• Preparation of numerous real estate project reports for hotels, commercial buildings, residential towers, industrial camp etc. and arranged financing of these projects.
• Monitor construction, real estate, other project progress & profitability, variance analysis of cost incurred against budgeted, cost to complete and retention receivables and payable.
• Implemented Property Manager on Oracle for management of all properties of group monitoring by property revenue, costs, profitability, major agreements, rental yield, vacant periods etc. for better control on properties.
• Job role involved pricing of vehicles (retail, fleet, bulk), parts pricing, approval of vehicles & parts order, review of all vehicle bulk deals, approval of customers for credit facilities for vehicle sales, continuous interaction with sales, after sales and parts managers for improving profitability and keeping vehicle and parts inventory under control for three auto dealerships and leading vehicle rental company.
• Close monitoring and management of trade receivables at all levels within the Group
• Instrumental in devising common manual of policies & procedures for purchases, inventory control, accounts receivables, payables, costing and projects for all business units.
• Review and approval of all letters of credits, supplier payments, performance bonds, guarantee formats, large contracts, and product costing & pricing for all business units.
• Review of Group’s overseas business including Pizza Hut, KFC and Krispy Crème in Turkey.
• Oversee project progress & analysis at Group level. Interact with Unit Heads for business growth, increasing profitability, controlling expenses and participate in commercial meetings.
• Project management for new IT (Oracle, Autoline )
Responsible for preparation of monthly and annual MIS including Management Reports, Segmental Reports, consolidation of accounts, cash flow statements with variance analysis for major areas.
Setup of costing system for group companies manufacturing different products namely water tanks, deformed bars, transformers and water bottles.
Worked as Project Leader and successfully implemented ERP software in four manufacturing units. Written specifications for programmer to develop Costing Module for automatic costing of various products. Defined Common Chart of Accounts to be used by all industries.
Was involved Continuous Negotiation with Shipping Lines resulting in major saving in sea freight rates by more than 30%.
Was involved in Preparation of Budget for the Group and presenting the same to Board of Directors.
Key member for implementation of ISO 9002 for four companies. Conducted various internal audits in these companies.
Spearheaded research, price negotiations, purchasing, installation and maintenance for Assets like computers, office equipments etc for all industries.
The Company was a joint venture with world leading oil company Exxon Chemicals and was engaged in blending of oil field chemicals. Was reporting to General Manager and supervising a team of accountants
The company was one of the leading manufacturers of polypropylene sacks in Gulf. Was reporting to General Manager and supervising two assistants.
Did computer course covering spreadsheets, macros, presentation programs and some programming. Stood first in Class.
Completed B.Com (Hons) from University of Jodhpur in year 1984. Subjects included Advanced Accountancy, Financial Management, Business Administration etc.