Group CFO
Lamar Holding
مجموع سنوات الخبرة :27 years, 3 أشهر
As a senior leader of group finance operations and investments in Saudi, Bahrain, UAE, and other locations, I am managing finance teams at holding & business units and have accomplished the following;
• Successfully transformed and restructured the group by redefining the business model, setting long-term strategic goals, and implementing technology-based solutions, systems, and processes.
• Led finances of holding and subsidiary companies having diversified business portfolio in PPP project, startups, healthcare, trading, manufacturing, consulting, and shared services.
• Managed a number of compliant BOOT/ PPP proposals infrastructure, water, power, and industrial projects.
• Achieved financial close of the Saudi Aramco infrastructure BOOT Project of over $500 Mn, establishing project SPVs, its systems and processes and handed over to SPV management.
• Led and managed Tax ruling on VAT refund of BOOT project involved cash flow of SAR 250M and successfully recovered VAT refund from ZATCA and related accounting treatments with Auditor from Big-4.
• Currently managing three BOOT projects, over $1.3B in financial close phase, and one proposal stage
• Streamlined banking & treasury operations and strengthened relations with banks to secure new facilities/lines.
• Raised financial commitments for BOOT/PPP projects of over $1.0 Bn at bidding stages.
• Raised finances and bank facilities and commitments for projects, corporate treasury and subsidiaries.
• Successfully closed M&A transactions and seamlessly integrated them into the group, meeting payback and investment return targets.
• Managed consolidation of financial statements in the group, ensuring tax and regulatory compliance.
• Implemented an ERP in the group, redesigned financial reporting frameworks, including forecasting at Group Consolidation level.
• Managed EPC projects over USD1.5 Billion with Saudi Aramco enhanced controls, banking and treasury operation, and improved the cash flow and liquidity by managing funding lines and slashed cost while ensuring continuation and enhancement of service.
• Explored opportunities to improve liquidity at corporate level, those resulted in bringing an earlier cash inflows of retention money of SAR 200M+ and SAR 150M+ through negotiating and amending pricing schedules.
• Managed banking & treasury, project facilities and utilization and brought additional finances.
• Spearheaded financial restructuring of the company improved liquidity, debt restructuring and cash flows
• Eliminated redundancies by slashing payroll and G&A cost by 30% and negotiated vendor contracts.
• Designed and implemented budgeting, forecasting and reporting framework to bring transparency, accountability and discipline.
• Implemented process to develop and review the standard rates for manpower, machinery and overheads.
• Led and implemented detailed project cost review and forecasting of projects CTC to analyze project cost.
As an executive leader, I played a vital role in the development and growth of the Joint Venture (JV) startup between Chromalloy and Abunayyan. My achievements include:
• Led the entire range of financial operations and evaluated the financial performance of the JV startup.
• Designed & implemented systems & procedures, DOA matrix and planning & reporting framework.
• Successfully met all financial and budgetary targets by administering budget and cost control procedures.
• Led the implementation of SAP modules (FICO, HCM, SD, MM, BI/BW) and delivered detailed financial reporting and analysis.
• Managed banking & treasury operation and administered cashflow plans to deliver commitments.
• Managed the audits to address the key audits issues providing innovative solutions and get clean audit reports.
• Redesigned transactions to bring savings to the company while managing a wide range of issues related to taxation and compliance.
• Implemented a management information system and led performance reviews of business units (BU) with Holding leadership team.
• Utilized SAP for multiple reporting, reconciliations, and improvement projects to ensure accuracy of financial reporting and management of time sheets, project assets, balance scorecards while collaborating with the leadership advisory team.
• Served as the Functional Lead on the implementation of BI/BW project and SAP roll-out in Business Units.
• Conducted cost estimation, variance analysis, and proof of concept reviews for projects to identify redundancies and cost-saving opportunities.
• Piloted SAP improvements and implementation projects such as chart of account review and improvement, project cost system and control, fixed asset tagging, automation of business processes and workflows, and developed analytical dashboards and reports.
• Meticulously managed consolidated financial reporting of Holding and Business Units, audit of Group Consolidation, and Business Units.
• Managed the zakat and tax returns and filing at Holding and BU levels.
• Maximized the value from a financial perspective by conducting diverse analyses of M&A and divestment decisions by generating financial models and feasibilities, and streamlined the closing process, business valuation, investment appraisal, and due diligence.
• Developed a financial policies and procedure manual to standardize processes across all business units.
• Managed multiple construction projects annually with a cumulative value of over USD 100 Mn, and a high volume of payables amounting to over US$ 1.2 Bn for gas purchases.
• Led the implementation of an ERP project, specifically Oracle Financial and Project Modules, which included redesigning the chart of accounts and reporting system to improve efficiency and accuracy.
• Member of the Committee for development of Model Gas Sales and Purchase Agreement by the Ministry of Petroleum, where I contributed my expertise and knowledge to help develop the agreement.
• Managed the accounting functions of both operated and non-operated oil and gas fields Joint Ventures (JVs)
• Developed financial models for development of new oil and gas fields.
• Prepared financial statements and reports for the JVs, and presented them to the management team for review.
• Provided strategic insights and recommendations to the management team based on financial data analysis.
• • Managed accounting operations of a corporate branch and reported the financial performance to the head office.
• Issued insurance policies and endorsements, ensuring compliance with applicable laws and company policies.
CPA
MBA Finance and Management First class third position in MBA (Finance)
Chartered Management Accountant from an Internationally recognized Professional Accountant Institution
