Chief Financial Officer
Confidential Group of companies
Total years of experience :9 years, 3 Months
• Location : Shared Service Finance & IT, Dubai
• 10, 000 plus strong work force.
• Listed in Saudi Stock Exchange
• Major Customers : PEPSICO, COCA COLA, NESTLE, NOVA, ALMARAI, NADA, NADEC, P&G, CASTROL, AFIA
Confidential Holding Group is a Joint Stock Company established in 1967 in KSA . The group operates in multiple business sectors like Oil & Gas, Construction, Hospitality & Real estate, Healthcare, Industrial, Engineering & Manufacturing, Education, Distribution & Food
The group operates in geographies across Middle East and Asia through private and public companies.
Leadership responsibility for Group wide operations with direct responsibility for Group Treasury, Strategic Planning & Budgeting, M&A, Audit & Compliance, Financial Management & Control, Insurance, Taxation, IT & Business Solution & Digital Transformation, Financial Planning & Analysis, Capital restructuring & Medium/ Short term loans & Investment portfolio of the group
Initiated debt restructuring, rights issue and strategic turnaround planning & methodology to transform loss making operations into substantial improvement in EBITDA over a period of 3-5 years, Organic growth, product pricing, working capital management, operational efficiencies, growth of revenue from global markets positive with substantial improvement in financial health of the company.
Provide Financial guidance to the business units covering manufacturing, operations, sales & distribution, procurement strategy & supply chain.
Diverse holding group in UAE involved in Manufacturing, Hypermarkets, FMCG Sales & Distribution, Construction, Engineering, Real Estate, Facilities Management, Furniture manufacturing and Retail, General Trading, Healthcare, Pharmacy, Travel, IT, Printing & Publishing, Bakery, Ready mix concrete, Industrial Water, Commercial Explosives
Reporting to the CEO & the Board of Directors
Key Responsibilities
• Manage strategy & Operations for Retail Hypermarkets, F&B, expansion of manufacturing units, new startup and Joint ventures for the Group
• Achieved investment and funding for the group
• Managing the P&L for each company, aligned with GM/Division heads to achieve the strategic plan, budgets and ensuring that appropriate accounting policies have been consistently applied in preparation of financial statements, and that accounting estimates are based on reasonable and prudent judgment
• Reporting of financial results and business outlook to shareholders and investors
• Communication and liaison with investment community, business analysts and business/financial media, as appropriate/required
• Ensure responsibilities towards shareholders are met, including production of board information packs, including monthly integrated financial statements that present accurately the state of the company's affairs, results of its operation, balance sheet and cash flows, as well as appropriate commentary on results and analysis of variance to budget and rolling reforecasts, and a cadence of daily and weekly operational and financial results reporting to complement these
• Analysis of business opportunities in existing and new markets
• Source and execute potential M&A opportunities
• Assist in identifying cost saving initiatives, and procurement team in negotiating with suppliers
• Lead and develop the accounting, payroll, FP&A, treasury, compliance and corporate finance functions.
• Accurate accounting and reporting of monthly closing, year-end closing, and collaboration with auditors
• Recruit, train, mentor and develop the finance staff and create a strong succession pipeline of financial and business talent.
• Setting of KPI for each company /division in line with company annual budgets and strategic plans.
• Mid month review to check the targets for the month are in line to achieve.
• Monthly preparation of Management Review with GMs of each company to identify variances in actual results and action taken.
• Present quarterly reviews to Board with detailed reports on achievement of budgeted profit and KPIs
• Implementation of ERP systems and leading automation in each functional area like Dashboard reporting/ Tableau, budgeting tool, Ordering, capex spending, ordering etc.
• Develop Corporate financial policies, procedures & workflow, Internal Control, Cost Control & Treasury planning.
• Manage the company's liquidity and cash flow requirements Negotiating short term and long-term financing with banks.
• Manage large investments portfolio to maximize returns.
• Shared Services: Centralize and developed SSF team, coordinating and taking day to day responsibility for the services covered by the Shared Services Unit
• Ensuring the implementation of the international financial reporting standards (I FRS)
• Representing the company to financial partners, including financial institutions, investors, suppliers, customers, auditors, public officials etc.
• Finalize transfer pricing, job costing, retail pricing for group companies.
Achievements:
• Pioneered complete start-up of multibrand, multi products hypermarket in UAE.
• Expansion of Real Estate business in UAE
• Defined and effectuated Internal Control System with monthly reporting to the Chairman.
• Deftly implemented ERP system with sales, purchase, finance, H.R modules.
• Played a key role in sourcing capex loans and working capital from bank.
• Annual rebates /markdowns/ space rentals & marketing/promotional contribution from vendors
• Clearance of inventory by promotions & return to suppliers to reduce the aged stock
Big 4 audit and consultancy advisory service Conducting internal and statutory audit of oil companies, banks, and financial institutions, investment companies and Manufacturing & retail trading houses.
Achievements:
• Successfully conducting financial analysis and audit of key clients including: City Centre, Kuwait & J.C Penny. Kuwait National Petroleum Company, B.J Services Company, U.S.A, Chevron Texaco. Siemens, Motorola, Nestle, Industrial Bank of Kuwait, Al Ahli bank of Kuwait (ABK), Al Ahlia Investment Company and Gulf Investment Corp. (GIC), Gulf Investment House.
• Played an instrumental role in implementing new program VECTOR in Middle East.
• This software is now used worldwide by KPMG for understanding the business process at macro level, report financial risks and suggest process improvements and internal control weakness