CFO & Business Partnering Advisor at DM Advisory Services Ltd
DM Advisory Services Ltd
Total years of experience :22 years, 11 Months
2015/.. REGIONAL CFO & ERP CONSULTANT. - RIYADH, BEIRUT, AMMAN, & TEHRAN.
Sectors: Trading:
• Power & Technology products & services to the Saudi market based in Riyadh.
• Agricultural products to Jordan, Lebanon & Iran.
Objectives& Results:
- In-depth review of the entire trade cycle from source to collection with direct focus on liquidity.
- High-level strategic sparring with Group CFO on key group level financial issues.
- High-level financial dashboards creation to regional GM’s, and other stakeholders.
- Monitor go-live projects + data integrity build-up, draft process guidelines & performance reporting.
- Define Microsoft Dynamics NAV implementation strategies & priorities along with data handling
efficiency red flagging long term pitfalls.
- Convert corporate strategy to high-level operational budgets, forecasts regardless of framework.
- Convert operational chaos to structured, disciplined and measurable performance.
- Transform & optimize global working capital, financial risk aversion.
- Improve market responsiveness.
- Streamline cultures by transferring knowledge across frameworks, business models.
- Lead transformations bridging functional strategy with advanced financial R&A systems.
Rolled out VAT implementation via Dynamics Nav in FMCG retail.
Lead transformational processes as target for prepping the company for major FDD process to be sold.
Please check my cv for details.
1. As a CFO for Arabian Fal Holding in Saudi Arabia serving the Saudi Arabian Oil & Gas industry through Saudi Aramco and SABIC, the scope of responsibility involves total company restructuring, leading change from the bottom up. Restructuring involves complete recreation of Group Accounting & Finance functions and all what it entails as core accounts, banks, procurement, payables, receivables, revenue management, CAPEX, liquidity, workshop service, inventory, project management, processes, policies, work culture & habit shift, HR, Job descriptions, recruiting, personnel education and motivation, ERP investment, ensure data protection and consistency restructuring among departments, creating KPI's in every domain based on measurable progress.
Responsible to lead the financial performance of 14 operative worldwide legal entities, and 5 holding companies serving the Tourism industry worldwide.
- Oversee all financial operations of the entities worldwide
- Lead all budget and forecast efforts
- Be the contact person for all audit, corporate taxation, and other regulatory and fiscal relations.
- Ensure adequate and sound accounting & Financial reporting infrastructure throughout all the entities.
- Optimize working capital, and overall liquidity management thoughout all Destination Management Companies.
- Monitor all banking activities of the entities
- Train & develop the finance team & others on raising awarenessand working knowledge of financial management matters.
- Develop financial analysis models and provide insight into the oragnisation's operations and business plans.
• Achievements:
- Financial processes assessment, optimization, documentation, transfer of knowledge,
- Support with credit assessments within Power Finance.
- Managing fuels consumption, procurement, inventory, hedging activities and price/volume analysis impact on EBITDA, for power generating plants on the Danish market.
• Achievements:
- Regained financial control on major projects worldwide and revamped the group’s procurement risk policy.
- Contributed to managing project revenue recognition while aligning transfer pricing rules with the auditors.
- Lead and approved local procurement deals from the field up, ensuring no critical pitfalls in agreements.
- Spared with site managers and project directors to ensure strong relations with suppliers during projects.
- Liaised with international banks, auditors, outsourced partners, and local tax, VAT & government bodies.
- Managed a local accounting and administration team of 5 in Africa and Central America.
- Ensured timely financial assessment with project directors, estimates to completion, potential up & downsides, proper P&L recognition, cash flows, currency hedging on major purchases, GM trend control, & overall risk & guarantees and draw-down management, and held budget reviews with department leaders.
- Triggered new financial processes: P&L package, cash flow, IC recon & settlement, RFQ+PO, sales budget
- Assisted Sales on financial analysis assessment to major turnkey tender projects.
• Objectives & Results: - Group consolidation & reporting, (Danish GAAP) to the board of directors, owners and related parties.
- Periodic analysis, consolidated budgets, forecasts, cash flow, business trends analysis by product, by region.
- Analytically questioned operating entities identifying problems and central focus areas affecting EBITDA.
- Helped align transfer pricing practices among entities with the Group’s strategy.
- Stabilized the financial reporting process and reporting systems across the business units.
- Designed a new sales budget consolidation by entity, product family, sales person for improved accountability
- Documented the process for proper usage of the chart of accounts in IBM Cognos Controller.
- Headed the operational implementation of IBM Cognos Controller throughout the entities.
•Objectives:
A - IT Part:
Creation of an IT department for the group ensuring the following:
- Create a self-sustainable IT network infrastructure throughout all regional business units.
- Plan and set the grounds to consolidate each business unit IT infrastructure.
- Introduce server virtualization, and data security at all levels.
B - Financial Analysis Part:
- Analyze detailed financial performance, and evaluate system financial risks vs forecasted trends.
- Recommend immediate corrective measures on KPI’s, take part in budget, meeting reviews.
- Analyze the group’s financial revenues and costs by business unit and product line.
- Collect Financial Due Diligence material to set specific pre-requisites for Group ERP implementation.
•Objectives:
A - Conduct Group Consolidation of Financials as current accountants still not fit to assume all tasks.
B - Train newly hired accountants and administrator on the proper use of Navision’s licensed modules.
C - Ensure system enhancements, and coordinate functionalities for corporate and audit requirements.
A - Consolidation of accounts. 42 entities, 14 sub-companies, 8 companies.
B - Financial reporting to the Board of Directors.
C - Financial Statement Analysis.
D - Introduced & administering Citrix + Navision implementation @ group level.
E - Microsoft Business Solutions-Navision 4.0 Tailored for construction :
License negotiation, purchase, administration, implementation, staff training in Beirut, Saudi Arabia & Qatar, and restructure accounting & HR processes.
A - Accounting controls, booking, month-end accruals and reporting.
B - SWIFT management control & money market placements + FX management.
C - Clearing of all branch’s and inter-bank ACH, MIFTS, and FT transactions.
D - National bank reporting & customer sales support.
E - Global funds transfer management & facility analysis with Treasury & Credit.
F - Reviewed Cash Management process identifying system financial risks.
- Monitored all sales quality & inventory rotation in 22 stores across 8 countries.
- Managed sales staff and inventory activities during all international jewellry exhibitions in the region.
Review, Analyze, recommend & implement financial processes under IAS-GAAP:
1 - Production, purchasing, revenue, costing & inventory cycles respectively.
2 - Directly responsible for the collection of O/S receivables and recommendation of improved system controls.
3 - Ensure online implementation & follow-up of Great Plains - Wennsoft.
Cost Reporting, budgeting, cash management, accounting controls, payroll and other G&A administration.
Helped raise contract proposals for pipeline construction projects to various sub-contractors, and maintained relations with Nigerian government officials.
Helped implement a new online integrated system, Scala & Groupwise.
Appointed Chairman of Willbros's catering committee, providing F&B supplies for approx 800-2000 employees throughout its operations across West Africa.
Cost Reporting, budgeting, cash management, accounting controls, payroll and other G&A administration.
Main Subjects: Corporate Finance II, budgeting, financial statement analysis, business policy & international business. Managerial finance, management accounting, Money & banking. Best Memoir of the year A+ or 96% grade.
Main subjects: Translation: English / Arabic / French Arabic philosophy and English psychology. Rank 4 in class