Chief Financial Officer (CFO)
Al kharji LLC
Total years of experience :25 years, 9 Months
MIS, Budgets, Finalization, Audits, Cash Flow & Business Development,
Engaging in Strategic Planning and Decision Making
• Develops means to improve profit, including estimating cost and benefit, exploring new business opportunities, etc.
• Analyzes information, forecasts sales against expenses and creates annual budget plans.
• Compiles information, analyzes and monitors actual sales against projected sales.
• Analyzes differences between actual budget wages and forecasted wages for more efficient budget planning.
• Identifies the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
• Thinks creatively and practically to develop, execute and implement new business plans
• Creates annual operating budgets.
• Provides analytical support during budget reviews to identify cost saving and productivity opportunities.
• Implements a system of appropriate controls to manage business risks, safeguard assets, improve operations and profitability.
• Analyzes financial data and market trends.
• Leads the development and implementation of a comprehensive annual business plan which is aligned with the company’s and brand’s strategic direction.
• Produces accurate forecasts that enable operations to react to changes in the business.
Leading Finance Teams
• Utilizes interpersonal and communication skills to lead, influence, and encourage others; advocates sound financial/business decision making, demonstrates honesty/integrity, leads by example.
• Communicates the strategic goals, the focus and the priorities to subordinates in a clear and precise manner.
• Leverages strong functional leadership and communication skills to influence the executive team, the organization strategies and to lead own team.
• Oversees internal, external and regulatory audit processes.
• Monitors all taxes that apply, ensuring that taxes are current, collected and/or accrued.
• Provides excellent leadership by assigning team members and other department managers' clear accountability backed by appropriate authority.
• Conducts annual performance appraisals with direct reports according to standard operating procedures.
Anticipating and Delivering on the Needs of Key Stakeholders
• Attends meetings and communicating with the management, understanding the priorities and strategic focus.
• Understands and meets the needs of key stakeholders (owners, corporate, guests, etc.).
• Communicates financial concepts in a clear and persuasive manner that is easy to understand and drives desired behaviors.
• Manages working capital and cash flow in accordance with brand standard operating procedures and management requirements.
• Facilitates critique meetings to review information with management team.
Managing Projects and Policies
• Generates and provides accurate and timely results in the form of reports, presentations, etc.
• Reconciles balance sheet to ensure account balances are supported by appropriate documentation in accordance with standard operating procedures.
• Ensures that the P&L is accurate (e.g., costs are properly matched to revenue, costs are recorded in the proper accounts).
• Procurement Management, liaise with contractors, architects and consultants, approvals of BOQ, payment approvals and sign offs.
• Ensure all necessary approvals and licenses are obtained from regulatory authorities
• Ensures compliance with management contract and reporting requirements.
• Ensures compliance with standard and local operating procedures.
Managing and Conducting Human Resource Activities
• Ensures team members are trained to support successful daily operations.
• Ensures property policies are administered fairly and consistently.
• Ensures new hires participate in the department’s orientation program.
• Creates appropriate development plans which develop team members based on their individual strengths, development needs, career aspirations and abilities.
• Conduct performance review process for employees.
• Verifying US & Tanzania Office daily activities and managing a team of 7 for Supply Chain
• Operation Budgets and cash flow, Cost Control comparing with actual and budget
• Monthly MIS, Sales reports & P&L
• Financial appraisal of various projects of the organization
• Control of Debtors, Creditors and stock control/ Deal local and foreign purchases
• Bank Reconciliation & Report Submission to Banks for Finance arrangements
• Calculation and submission of Monthly Export/Import Insurance
• Inventory Management & Reconciliation
• Procurement and Sourcing
• Fund Management
• Control of Internal Audit activities and take remedial actions wherever necessary
• Yearly Internal / External Audit for the group companies
• Monthly & Yearend Accounts closing & Finalization
• Review and finalize Payrolls / Deal local and foreign purchases
• Recruitment & Training of Employees and HR Administration.
Accomplishments
Appointed project chief for migration & implementation from Peachtree to ORION ERP system. Designed various modules of business flow and conducted ORION training in US, ME and Africa.
Planned the setup + implementation of accounting procedures and audit in Tanzania. Operations head for Tanzania.
Entire factory setup done for repacking of Popcorn and various products in Tanzania with sourcing of machinery, raw materials, procedures for production & operation, Warehouse Management, Accounting and Distribution procedures and related approvals from Government Departments. Also played a vital role in the production set up of Aluminum Foil repacking in UAE.
Project Manager for implementation of Oracle EBS for Group companies, Zams International FZCO- UAE, Global Export Marketing- USA, Kingsway International & CWEED Corporation - Tanzania. Training of the same across all organization.
Managing the construction of Five Star Hotel Property - overseeing procurement, management, Finance & HR, arranging facilities with Banks, liaising with International Hotel Operator (Wyndham Group of Hotels, Ramada Brand) and Board Member of the asset Management Company for the operations.
Chief Accountant for their Dubai and Iran Operations, Assisting the Finance Controller in Budgeting, General Administration, Core member of the ISO certification implemetatioin in the company and Bank Reconciliations of 10 Bank Accounts, Payroll Administration and Inventory Control. Did the system migration from their local software to Focus RT( world's 2nd CRM).
Monthly Accounts till finalization, General administration, MIS, Bank Reconciliation, Shipping & Forwarding, preparation of P&l, Balance Sheet . Project leader for the data migration to the New Accounting software MYCOM, from Phinnus.
Started as Accounts Assistant and promoted as Senior credit controller in 2000. Decision maker in the granding of credits to the customers, followup, reconciliations, Assisting the Accountant in Monthly accounts finalization, MIS Reports, bank reconciliations and leading a team of 3 in the credit department. Did the system design and implementation for the Stationery Division starting from Sales Quote till Invoicing with autorization levels which was not in place till then.
Passed with First Class
With 64% Marks