ضياء الدين العباس

• Financial Planning and Budgeting: Develop and oversee annual budgets, forecasts, and long-term financial strategies to maximize profitability.
• Compliance and Reporting: Ensure compliance with GAAP, local financial regulations, and tax requirements, while preparing accurate and timely financial reports.
• Revenue and Cost Management: Monitor revenue streams, control costs, and implement strategies to optimize financial performance.
• Audit and Internal Controls: Manage internal audits, enforce robust internal controls, and mitigate financial risks.
• System Optimization: Leverage financial systems and technology to improve efficiency, reporting accuracy, and data-driven decision-making.
• Team Leadership and Development: Lead and mentor the finance team, fostering a culture of accountability, precision, and continuous improvement.

Additional tasks added to daily and occasional duties.

•Checking and posting of the month end departmental accrual.
•Review the departmental expenses along with the DOF and adjust any wrong posting.
•Run the P&L statement, review and distribute to other departments.
•Preparing of the balance sheet and owner related reports.
•Support Finance Shared Service team with the Balance sheet reconciliation and provide adequate comment for the open items.
•Prepare the hotel statistic report and send it to STR.
•Assisting the DOF in forecasting process and the Annual Business Plan.
•Taking care of insurance claims and legal cases which require communication with local entities.
•Playing an active role in MOR and year end external audit along with other finance team members.
•Support the DOF in running the accounting department smoothly and resolve any issue arise.
•Supervise the day to day activities of accounting team and provide the guidance and needed support.
•Train the new team members and ensure the job is done efficiently using formulated worksheets rather than manual work.
•As a certified service coach, Taking care of the departmental training for Non Finance teams and draw the training plan for any Cross-Training request.


Basic Tasks as Credit Manager

•Ensure that company debts are collected in a timely manner within the agreed terms & conditions.
•Prepare the Aging report for the monthly Credit Meeting and conduct the meeting with the General Manager and other concerned departments to discuss all the credit matters. Document the meeting minutes and send to all attendees.
•Receive the credit applications from the sales department and conduct a market survey about the applicant’s credit history with other five stars hotels. Approve or disapprove the application and perform the necessary set up in PMS and Iscala
•Prepare the PM list (Posting Master) and the High Risk/customer ledger Report to chair the weekly meeting with the sales & Marketing and Front office teams to follow up on all pending and high/risky balances.
•Establish and maintain credit policies and procedures and ensure the correct implementation by all concerned department.
•Monitor the credit limit of each account and send official demand letter to companies with old due debts.
•Prepare the provision for the doubtful accounts as per the company P&P, review with the DOF and book the entry.
•Review the old debts and prepare the write off form with all supporting documents for approval.
•Calculate the AR outstanding days and prepare the month end financial reports as assigned.
•Receive and check the credit card refund requests, process the refunds and post the journal entries in Iscala accordingly.
•Supervise the day to day activities of the Accounts receivable, general cashier and income audit sections. Provide them with the necessary trainings and the support required

• System Setup and Policy Development: Establish financial systems, policies, and procedures to ensure smooth operations and compliance with standards.
• Recruitment and Training: Hire and train the finance team to align with the hotels goals and operational requirements.
• Budget and Working Capital Preparation: Develop the pro-forma budget, manage working capital, and monitor expenditures against the pre-opening approved budget.
• Operational Readiness: Ensure IT systems are fully implemented and tested, and that all OS&E items are procured, inventoried, and accounted for.
• Stakeholder Communication: Collaborate with the owning companys asset manager to ensure financial alignment with pre-opening budget, addressing potential discrepancies and ensuring cost control.

Assisted the Head of Finance for the two properties by ensuring all financial tasks were completed efficiently and accurately, including reporting, and compliance with policies and standards.

to the absence of the Credit Manager all the above mentioned Credit Manager tasks were being performed.

ensure that all daily entries are recorded and processed in a timely manner in accordance with the company policies & procedures and local regulations.
•Reconcile accounts receivable trial balances with the general ledger control accounts each month and to ensure accurate ageing.
•Post the journal entries and keep the variance accounts clear and accurate.
•Reconciliation of the cash, credit card, gift vouchers, bank statement, execute the journal entries and ensure proper bookkeeping of these transactions.
•Prepare employees’ ledger trial balance to the Accounts Clerk Payroll for payroll deduction on a timely basis.
•Maintain proper filing system as per the company filing retention policy.
•Monitor and maintain support of all advance deposits and to balance them to the general ledger at month-end.
•Process invoices/folios promptly, render interim & monthly statements and follow up reminders on a timely basis.
•Ensure that all transfers to City Ledger through income audit, accounts payable and general ledger do agree with the control amount.
•Ensure that the posting of invoices and settlements are up-to-date and that invoices are correctly aged.
•Ensure the accuracy of all charges and credits posted to the individual accounts.
•Ensure that returned checks are recorded in the system, that unapplied credit balances are reconciled and that minimal variances in payments are cleared at the time of receipt.
•Initiate payment of travel agents commission based on verified computerized reports.
•Provide an effective system to track Account Receivables for the activities of the Credit section.
•Provide a summary of the ageing report required by various people in the Finance Division to prepare monthly reports.
•Handle all incoming inquiries from companies and other hotel departments in regards of any City ledger invoices and outstanding.