Chief Financial Officer (CFO)
Houssam Contracting Company
مجموع سنوات الخبرة :19 years, 11 أشهر
Houssam Contracting Company
Chief Financial Officer CFO September 2016 - Present
Financial Controller June 2013 to August 2016
Houssam Contracting Company (HCC) is a Joint Venture between AIRBUS Defence & Space and Saudi Technical Trading Contracting Co. (STTC). Both partners contribute their technology and expertise in Defense, Security, Radio Communications, Contracting, Civil Works, Supply Chain, IT Services, Optronics, Training and Simulation and Number of Employees 500.
Duties and Responsibilities
Accountable for the administrative, financial, and risk management operations of the company, to include the development of a financial and operational strategy, metrics tied to that strategy, and the ongoing development and monitoring of control systems designed to preserve company assets and report accurate financial result.
1. Assist in formulating the company's future direction and supporting tactical initiatives Monitor and direct the implementation of strategic business plans Develop financial and tax "Zakat" strategies.
2. Manage the capital request and budgeting processes.
3. Develop performance measures that support the company's strategic direction.
4. Participate in key decisions as a member of the executive management team.
5. Maintain in-depth relations with all members of the management team.
6. Manage the accounting, human resources, investor relations, legal, and treasury departments.
7. Monitor all open legal issues involving the company, and legal issues affecting the industry.
8. Construct and monitor reliable control systems.
9. Maintain relations with external auditors and investigate their findings and recommendations.
10. Open new channels with the financial institutions, Banks and insurance companies in order to obtain Credit facilities and negotiating interest rates& submitting proposals to banks for project financing.
11. Initiate the process of the company’s budget and present it for Board approval, monitor the actual performance based on agreed KPIs against budget and corresponding monthly performance reports, including variance analysis,
12. Prepare, analyze and review on timely manner the business financial information of profit and loss accounts, balance sheet, cash flow statements and other financial data to assess and manage the risks associated with business and suggested sort of action for mitigations.
13. Cash-flow management and financial projection through preparing and updating cash flows, estimating shortage/excess of funds. Developing financial management mechanisms that minimize financial risk
Highlighted Achievements:
• Improving the (ERP) system to suite the corporate operations.
• Restructuring the financial system, in order to divide the corporate operation into separated business units, which has affected on levels, cost reduction, and accuracy of the results, since this will improve the decision making precision.
• Establishing the standard operation procedures (SOP) for the finance department.
Key Strength Areas:
Financial Management Accounts Management
Internal Audit Risk Management
Budgeting and Forecasting Standard Operating Procedures
Credit Management Cost Management
Company Law/ policies Matters Working Capital Management
Business Development Fixed Assets Management
Statutory Compliance/GAAP Payroll and HR Management
Internal Controls Affairs/Meetings
Performance Optimization Technology Integration
Financial Analysis
Responsibility & achievements:
1- Responsible for implementing the groups policies and procedures book keeping
2- Provide services and information to all stakeholders including government and partners and senior management.
3- Ensure confidentiality of financial transactions and maintain transaction privacy protection from risks of full disclosure of confidential information within the company's internal policies.
4- Established and maintained internal controls serve as liaison to external auditors and ensured that accounting activities are in accordance with legal, government and company policies.
5- Manage, motivate and train financial team on the application of systems and new financial policies and procedures, as well as directing their efforts towards achieving company tactics and mission.
6- Develop of operational reports by use new systems (Microsoft GP) can read reports from different information sources to speed the preparation and presentation of information for decision-makers.
7- Analyzed financial data and extracted and defined relevant information.
8- Coordinate with HR regarding the appointment, promotion, retirement and termination of employment injuries and disciplinary allows and would maintain the workforce and prepare the ground for effective functionality, performance evaluation, incentives and rewards.
9- Audit and review centers accounting of activities, products and emphasize safety reports of the working capital and sufficient financial provision of fixed assets, and securing various risks.
10- Design Reports of collection and consolidated credit limits and receivables aging in accordance with the policy of credit and delegation of authority to different management levels.
11- Calculate provision of general and specific doubtful debts and modifies events, and evaluate the customers.
12- Follow-up to raise claims and delivery vehicles and debt collection in their maturity dates.
13- Responsible for maintaining general ledger system and accounting files and chart of accounts.
14- Monitor the customers’ current accounts on a daily basis and ensure its compliance to the approved payment terms & the company’s credit policy.
15- Responsible for processing payroll in timely manner.
16- Preparing financial plans and budgets and financial reporting
17- Responsible for develop the tools procedures track production costs
18- Preparing balance sheets, Income statements, cash flow & Financial reports
19- Responsible about the accounting functions, cost, zakah, financial affairs, cash flow Banking operations, auditing.
Ceramic Pipes Company
Deputy Finance Manager from 06/2009 until now
Major Duties and Responsibilities:
• Manage the financial department at CPC which is responsible: General Ledger, Accounts Payables, Accounts Receivable, Fixed Assets Accounting, Consolidation & Financial Reporting, Costing accounts, Payroll Processing .
• Develop financial system to facilitate management decision-making.
• preparation of all financial and management reports, including income statement, balance sheets, cash flow and production reports to different level of management within the specified deadlines.
• Oversee accounting department and treasury function, meets regularly with department heads to keep them informed and to offer them assistance.
• Interface with the external auditors in connection of interim & Final Audit as well as providing the complete audit file together with the financial reports as per as auditors requirements.
• Manage the team and provide leadership to them.
• Compliance with defined accounting procedures and guidelines.
• Financial planning process including budgets, forecasts and long range strategic plans.
• Participate in strategic planning and formulating long term business.
• Responsible for maintaining ERP system and accounting files and chart of accounts.
• Analyzed financial data and extracted and defined relevant information.
• maintain internal control through business controlling processes.
• Review and approve various journal vouchers and any other financial transactions.
• Provide advice, guidance, direction, and authorization to direct reports to carry out major plans and procedures, consistent with established policies.
Reporting to
• General Manage and Executive Committee.
Ahmad Abed Company
Financial Accountant from 06/2004 to 05/2009
- Developing strategic options to maximize returns
- Provide financial analysis and recommendations on key operating projects
- Oversee completion / submission of annual operating plan financials
- Preparing financial plans and budgets and financial reporting
- Monitoring and evaluating the financial process
- Direct and oversee all the financial activities
- Responsible for the business unit financial
- Responsible for implementing the groups policies and procedures book keeping
- Responsible for develop the tools and procedures track production costs
- Preparing balance sheets. Income statements. Financial reports
- Overseeing the accounting functions cost, zakah, financial affairs, cash flow Banking operations, auditing
Accounting, Bachelor, King Saud University Jul 2000 - Jun 2004 Riyadh, Saudi Arabia
Accounting, Bachelor, King Saud University Jul 2000 - Jun 2004 Riyadh, Saudi Arabia