CFO , Financial Advisor
Holding Group
Total years of experience :21 years, 8 Months
Position : CFO Group , Financial Advisor , July 2021 up today
Company : Confidential,
Filed & Industry : Recruitment , Manpower Supplier, Retail , Facility Management , Investment,
Report to : CEO
Qualified senior management professional with over 20 Years of experience in managing finance & accounts as well as departmental administration across diverse organizations with potential to work across Retail, E-Commerce, Wholesale, FMCG, Trading, Manufacturing, F&B, Hospitality and Franchise Management. Exploring challenging senior managerial assignments with a reputed organization.
develop and create strategic financial decisions, financial due diligences reports, working investment management activities using various techniques (NPV, IRR, Payback period, FCF, DFC, ROI, ROE, other financial ratios )
High Level experience operation & Implementation ERP ORACLE - SAP , Integration ERP With Ecommerce Platform , Magneto , Shopify, and managing relation with Banks with supplier, Support operation by controlling payment gateways and collection methods Bank Credit Cards, Cash /online payment, Cash on Delivery-OCD , Loyalty Point …..etc. ) .
Assess social media famous accounts through present financial reports to ascertain social media advertising on business growth and revenue.
Assist the VP Finance & Admin in optimizing costs and inventory. Coordinate with the Project Management Division for setting up and preparing new branches.
Actively involved in the finalization and control of Approved Supplier Accounts, Related Supply Chain, Decoration, Rents, and Logistics.
Key Responsibilities:
• Render support to the CFO and CEO in defining and implementing corporate strategy for generating revenue, achieving profitability and sustaining growth.
• Assist the senior management in accomplishing short, medium and longer term goals and objectives. Prepare and implement strategic financial plans (business plans, budgeting, forecasts and reforecasts) based on evaluated changing market dynamics.
Coordinate with the GCFO to develop and create strategic financial decisions, financial due diligences reports. Work on investment management activities using various techniques (NPV, IRR, Payback period, FCF, DFC, ROI, ROE)
• Assess financial risk for the Group highlighting credit risks, liquidity risks, market risks (currency risks, interest risks & price risks) and operational risks and implement effective remedial measures.
• Set up annual business plans for the Shared Services in coordination with other users. Prepare and ensure compliance to Shared Services budget and implement effective remedial measures based on identified deviations.
• Define and ensure compliance to policies, procedures related business, financial, IT, supply chain and inventory. Participate in negotiations with key suppliers for protecting commercial and business interests of the organization.
Key Responsibilities:
Accounting & Financial:
• Monthly P&L, balance sheet and working capital reporting to company within agreed timelines
• Monthly close monitoring of P&L ensuring that revenue and costs are complete, approved and compared to targets and where applicable recognition is in line with GAAP.
• Cost Control / Improvement Plans and Sensitivity analysis to improve profitability .
• Help build and review the country strategic plans, budget and monthly forecasts in liaison with business partners.
• Preparation of all financial reports and analysis in accordance with Corporate Standards as well as local regulations (GAAP - IFRS).
• Mange the financial reporting process to ensure timely and accurate reporting to Senior Management.
• Manage the monthly closing process including review journal entries internal report and consolidate financial statements to ensure that all closing deadline are met and results are reported accurately.
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Financial Planning & Budgeting:
• Direct and coordinate company financial planning and budget management functions.
• Establish and implement short- and long-range departmental goals, objectives, policies, and operating procedures
• Recommend benchmarks for measuring the financial and operating performance of divisions and departments.
• Provide daily, weekly and monthly financial performance reports as required by various divisions and Corporate.
• Establish and implement budgetary control policies and procedures
• Finalize budget templates, policies and procedures and submit the Budget Calendar to the GM for approval
• Oversee the development of budgets for different departments
• Communicate the Board’s feedback and approved budgets to departments and BUs
• Oversee management accounting support to company's decisions (e.g. financial feasibility review, project pricing review, ad hoc management reporting, make/buy analysis, cost accounting etc)
• Prepare MIS of planned vs. actual performance for company's departments
• Approve periodic management reporting against financial Key Performance Indicators
• Providing costing & budgeting assistance and guidance to other departments as necessary.
• Prepare and recommend the cost control budget and monitor financial performance versus the budget so that the business is aware of anticipated costs/revenues, areas of unsatisfactory performance are identified and potential areas of cost reduction or performance improvement opportunities are capitalized upon
• Implement budget guidelines from corporate office
• Consolidate departmental budgets and the operations budgets in a seamless manner.
Treasury:
• Working Capital Management.
• Cash Management, Liquidity Management, Cash flow & Financial Planning & Forecast.
• Corporate Financial Management.
• Negotiate new bank facilities in view of company’s financial projections and annual cash budgets
• Assure that the negotiated bank facilities are competitive in terms of notional, tenor, pricing,
roll over, and grace period.
• Handle all aspects of bank facilities documentation;
Assure that the periodic reporting requirements to banks are met in a timely manner;
• Build constructive relationships with key banks stakeholders
1-Preparing and reviewing annual and monthly financial statements, summaries, expenditure variances and other cost- benefit analysis and financial management reports. Ensuring compliance with SOCPA, IAS, IFRS, GAAP standards.
2- Lead the monitoring of receivables & collection across all the branches and follow up with the sales management .
3-Lead the monitoring of inventory across all the branches and follow up with the sales management .
4-Work with the sales management to introduce credit limits for all customers & develop a control system to monitor the credit limits .
5-Review month end salesmen commission calculation process & controls .
6- Review the reconciliation between the GL Control Accounts with the Sub Ledgers (AR-AP-Inventory -Sales )
7- Manage accounts payables, accounts receivables, fixed assets, banks reconciliation, general ledger, payroll, costing and inventory accounting .
8- Manage customers Master Files and month-end adjustments and ensure all is done according to Policies and procedures.
9 -Responsible for the development of accounting & controls for the branch expenses to ensure conformity with the corporate policies .
10- Review and approve the financial and management Reports including: Accounts Receivables Aging Reports, Accounts Payables Aging Reports, Inventory Aging Reports, LG Reports and Ad hoc reports on monthly basis and as requested by the Management and provide timely feedback on them.
11-Oversee sales sub ledger maintenance & development and act as a driving force to automate all activities within the branch
12-Review the monthly current account reconciliation between the head office & the branches .
13-Review the branch bank reconciliations & follow up where applicable .
14-Prepare management analysis & reports relating to branch operations .
15-Review quarterly inventory verification results for the branches .
16-Pepare monthly cash flows, monitors and controls cash receipts.
1-Preparing and reviewing annual and monthly financial statements, summaries, expenditure variances and other cost- benefit analysis and financial management reports. Ensuring compliance with SOCPA, IAS, IFRS, GAAP standards.
2- Lead the monitoring of receivables & collection across all the branches and follow up with the sales management .
3-Lead the monitoring of inventory across all the branches and follow up with the sales management .
4-Work with the sales management to introduce credit limits for all customers & develop a control system to monitor the credit limits .
5-Review month end salesmen commission calculation process & controls .
6- Review the reconciliation between the GL Control Accounts with the Sub Ledgers (AR-AP-Inventory -Sales )
7- Manage accounts payables, accounts receivables, fixed assets, banks reconciliation, general ledger, payroll, costing and inventory accounting .
8- Manage customers Master Files and month-end adjustments and ensure all is done according to Policies and procedures.
9 -Responsible for the development of accounting & controls for the branch expenses to ensure conformity with the corporate policies .
10- Review and approve the financial and management Reports including: Accounts Receivables Aging Reports, Accounts Payables Aging Reports, Inventory Aging Reports, LG Reports and Ad hoc reports on monthly basis and as requested by the Management and provide timely feedback on them.
11-Oversee sales sub ledger maintenance & development and act as a driving force to automate all activities within the branch
12-Review the monthly current account reconciliation between the head office & the branches .
13-Review the branch bank reconciliations & follow up where applicable .
14-Prepare management analysis & reports relating to branch operations .
15-Review quarterly inventory verification results for the branches .
16-Pepare monthly cash flows, monitors and controls cash receipts.
Chief Accountant
Taiba for Gold & Jewels, Saudi Arabia
Joined as a costing and financial accountant, and was promoted to chief accountant.
Overall Responsibilities:
Directed and managed the financial accounting activities and performed cost accounting and marginal accounting in compliance with GAAP.
Prepared monthly financial reports, forecasts and foreign currency transactions. Updated forms and manuals for accounting, bookkeeping personnel and for inter-company accounting. Reconciled bank and financial statements.
Created income statements, balance sheets, budgets, cash flow projections as well as payroll processing / accounting, accounts receivables and payables listings.
Updated and maintained journals, as well as other records detailing financial business transactions e.g., receipts, fixed asstes, documents related to requisitions, selling records and billing process.
Maintained documents, files and relevant database as per requirements and verified accuracy of invoices and other accounting documents. Compiled data and prepared a variety of reports. Provided regular status reports to the upper management and recommended remedial actions to resolve issues.
Responsibilities:
• Performed analytical review of financial statements in view of client's current commitments, long-term solvency and cash flow. Drafted proposals, projected results and made recommendations.
• Reviewed accounting procedures and business plans to recommend requisite modifications in budgets and other financial control functions to clients. Drafted audits for financial statements from various industries.
• Established audit plans, objectives and scope of work in alignment with client goals; responsible for the overall execution of projects through team collaboration and final report delivery.
• Planned and executed standard audits, reported audit findings and recommended corrective measures to improve operation and reduce costs.
• Determined the direction and objective of proposed audit works, and decided on the audit procedure and technique. Planned the theory and scope of audit, and prepared audit programs.
Other Relevant Experiences:
• Jan. '98 - Dec. '98: Accountant & Auditor.
Financial Counsultant