كارل عساف

Strategic Financial Leadership
Direct the overall financial strategy and governance framework, aligning
financial objectives with the groups multi-industry business goals to
ensure sustainable growth and shareholder value.
Group-Wide Financial Oversight
Oversee consolidated financial operations for all subsidiaries, ensuring
accuracy, compliance with IFRS standards, and transparent reporting to
the Board of Directors and executive management.
Performance Optimization
Develop and implement cost-control initiatives, capital allocation models,
and profitability improvement programs to strengthen financial health
and operational performance across business units.
Treasury and Funding Management
Manage the groups treasury function, including liquidity planning, cash
flow optimization, and bank relationships; negotiate financing facilities to
support ongoing investments and expansion.
Governance and Risk Control
Establish robust internal control systems and enterprise risk management
frameworks to safeguard assets, ensure compliance, and maintain audit
readiness across subsidiaries.

Financial Strategy & Corporate Governance
Spearheaded the development and execution of financial strategies
aligned with organizational goals, ensuring compliance with corporate
governance standards and enhancing financial decision-making across
the enterprise.
Process Optimization & Operational Efficiency
Redesigned and streamlined core financial processes including
budgeting, reporting, and cost control frameworks, resulting in improved
accuracy, efficiency, and cross-departmental collaboration.
Treasury & Banking Relations
Negotiated and secured multi-million-dollar bank facilities to support
capital projects and operational funding needs, strengthening liquidity
management and financial stability.
Leadership & Performance Management
Led and mentored the finance team to drive accountability, enhance
analytical capabilities, and ensure timely delivery of financial reports that
informed strategic business decisions.

Financial Leadership & Multi-Project Oversight
Directed end-to-end financial management for three high-value joint
venture projects, overseeing budgeting, forecasting, and project
accounting to ensure optimal allocation of resources and adherence to
contractual requirements.
Portfolio Scope
Managed three major EPC projects totaling SAR 6.1 billion, including SAR
3.0B King Faisal Air Academy, SAR 2.1B King Salman Airbase, and SAR 1.0B
Red Sea Airport.
Treasury & Banking Management
Administered complex banking facilities, including letters of credit and
performance guarantees; maintained relationships with financial
institutions to secure credit lines and optimize liquidity for ongoing project
operations.

Treasury & Banking Management
Established and managed revolving banking facilities exceeding
US$ 500 million, administered over US$ 2.5 billion in partner bank
guarantees, and optimized cash flow and liquidity to sustain
multi-billion-dollar project operations.
Financial Governance & Reporting Systems
Developed and implemented an advanced financial reporting
platform for executive management, ensuring real-time visibility
of performance metrics, compliance with IFRS, and accurate
forecasting across all project entities.
Commercial Negotiations & Risk Control
Led negotiations for trade letters of credit worth US$ 600 million,
securing favorable commercial terms while minimizing financial
exposure and ensuring alignment with consortium and
contractual obligations.
Payroll & Operational Finance Leadership
Oversaw payroll integration for 18, 000 employees, managed
over 400 bank guarantees, and directed end-to-end financial
operations including budgeting, treasury, and cash flow
optimization.

As Group Finance Director at Safari Group, I bring over 24 years of experience in finance leadership, specializing in financial strategy, treasury, and governance across diverse industries. I direct group-wide financial operations, aligning capital allocation, cost control, and performance metrics to enhance shareholder value. My expertise includes implementing IFRS-compliant reporting, liquidity planning, and profitability optimization to ensure transparent decision-making and operational discipline across business units.

Focused on fostering resilient financial frameworks, I lead initiatives to improve cash conversion, optimize funding strategies, and strengthen cross-entity controls. I am committed to driving financial stability, mentoring high-performing teams, and embedding governance structures that balance enterprise growth with risk management. At Safari Group, I oversee financial consolidation, board reporting, and treasury operations to enable sustainable success across a multi-industry organization.