Chief Finance Officer
Qaiwan Group
Total years of experience :29 years, 0 Months
Qaiwan Group is a diversified conglomerate with business interests in UAE, Iraq, North America and Asia in Oil Trading, Refining, Power Generation, Energy Infrastructure, Real Estate Construction and Development, Hospitality, Commodity Trading, Shipping & Logistics, Retail, Healthcare and Education. It has revenues of USD 2 billion+ and a balance sheet of USD 2 billion+
Key Responsibilities
•Lead the raising of Debt Finance via International Banks and Export Credit Agencies in relation to Key Infrastructure Projects the group is investing in. Performing due diligence on new sectors, Joint Ventures and Investment Opportunities explored by the group including upstream oil and gas, real estate and financial services.
•Developing the group strategy and implementing the Governance framework to ensure execution of all strategic initiatives across all business units.
•Provision of financial information for all group entities and development / maintenance of controls.
•Manage all external relationships including Banks, Government Agencies, Auditors, Financial Advisors, Insurance Agents, Lawyers and Risk Consultants.
•Provide analysis to Board in relation to all key divisions within the group and ensure that they deliver positive Return on Equity.
•Develop management accounting to support the business; including variance analysis, KPI reporting, cash flow management, trends and forecasting.
•Develop and implement Risk Management policies
•Lead the build out of the Group IT function to ensure a robust and scaleable platform and IT support function are in place to support group expansion plans.
•Transform the finance team by recruiting key roles to support the growth of the group and implementing a finance change programme to deliver international standard financial management and control
Key Achievements
•Completed the successful close of first ever COFACE support loan in Kurdistan that was nominated to Export Finance Deal of the Year 2016. Transaction was supported by Deutsche Bank, Bankmed and GE.
•Key member of Executive Board that ran tender bid process for USD 1.8 billion infrastructure projects (Refinery expansion and 750 MW Power Plant).
•Negotiated two Commodity Trade Finance facilities with European Banks.
•Led financial transactions for Midstream and Downstream Energy Projects including two oil terminals and two gas pipelines.
•Led the due financial due diligence of four Upstream Oil and Gas transactions, including one which was the acquisition of a Listed Oil Exploration Group.
•Developed the group 10 year strategic plan including vision, mission statement, corporate values as well as Group and Strategic Business Unit Balance Scorecards.
•Restructured finance function to create a shared services function and recruited key hires to fill technical and sector knowledge gaps within the team.
•Implementation of accounting policies and procedures to strengthen Internal Controls & Procedures.
•Developed Risk management framework which included implementation CTRM software and arrangement of insurance of major Assets across the group including Oil Refinery, Construction Risk and Marine Cargo. Negotiated terms of contracts with insurers to minimise the overall cost to group.
Member of the Executive management team responsible for co-ordinating and reporting the annual budget process and financial management for Global Middle and Back Office functions. Led a matrix structure across multiple global locations.
•Developed reporting and governance framework to provide global stakeholders with monthly financial reports to support the decision making process. Key component was the additional management information required for outsourcing and offshoring of functions to India.
•Delivering significant cost reduction strategy through multiple initiatives such as location strategy offshoring and BPO outsourcing, demand challenge review on all consultancy expenditure, delivery of efficiency targets and business transformation programmes.
•Developed 3 year strategic plans and business case for integrated of global location strategy and identification of efficiency changes and risk management that will achieve cost income ratios for the wider group. Developed financial model that was used for Offshoring and Outsourcing business case approved by Executive Board.
•Supporting Group Risk Managing Director to develop strategy for build out of group wide risk function, including business case submitted to steering committee for Investment in Risk Technology Platform and Group wide review of Client Accounts. Ensures compliance with mandatory regulatory initiatives across multiple jurisdictions.
•Development and roll out of activity based costing within group shared services to support product profitability analysis across all asset classes within the Investment Bank. Includes identifying activity drivers and full development of business model as well as leading project to select a third party vendor solution. Will be key pillar of service management framework across the group.
•Leading the development of the Business Management centre of excellence to develop best in class management information, cost control and change management processes. Key outcome will be the centralisation of team location and the offshoring of certain functions within the wider group.
•Developed governance and reporting framework to support group inter-company recharges for services provided by shared service functions to other group entities. The framework increased transparency of recharges and established a monthly reporting pack that stakeholders across the group would use to monitor performance against targets.
Key Achievements
•Delivered significant cost and headcount reductions across multiple global locations within a matrix structure as part of Plc cost reduction programme aimed at achieving $2bn cost savings per year
•Developed the automation of management information, working with IT business intelligence to replace excel reporting with automated finance dashboards.
•Improved the accuracy and timeliness of management reporting, highlighting key risks within regional processes and working with senior managers to correct errors.
•Developed governance process for reporting of change programme which aims to deliver significant headcount and cost reduction globally.
The Octopus Group is private company based in Dubai, operating across a diversified range of business sectors including brand consultancy (key clients Toshiba, Microsoft, Intel and Nakheel), technology investment, property investment and development, market research and consulting, and feature film production.
•Responsible for financial management and control of all group companies. Production of all management information, business and resource planning, working capital management and development of group operating controls and procedures.
•Managing all external relationships with banks (local and international), government departments, accountants, auditors, lawyers, tax advisors, investment administrators and key business suppliers. Good working relationships have been established with all providers.
•Leading and managing operation functions including Finance. HR, IT and administration.
•Performing due diligence on all new business ventures that the group explores and making recommendations to the shareholders on strategic investments.
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Key Achievements
•100% year on year growth of group profitability. Managed through cost control, launch of new subsidiaries, new client wins and implementation of financial procedures to support business growth.
•Completion of Private Equity Investment in Searchbolt Ltd, a UK internet search-engine company. Performed due diligence, deal negotiation and structure, legal documentation, exit strategy and attendance at monthly Board meetings on behalf of group. Negotiated cost reduction programme to reduce headcount and preserve cash-flow.
•Key member of team that developed IT strategy for Toshiba computer division and made recommendations on how to transform the Distribution Value Chain and achieve market growth strategy
•Launched new entities in UAE, USA, UK, Asia and Jersey. Producing five year business plans, negotiated banking facilities, created tax / legal structures, and developed transfer pricing and financial reporting.
•Closed non-performing entity and managed its subsequent winding down, including staff redundancies in line with UAE business regulations.
•Part of management team that won new business in Russia, South Africa and Turkey. Developed financial models, negotiated commercial contracts and explored joint ventures with third parties.
•Implementation of ERP finance system. Managed RFP process, performed due diligence, deal negotiation and system implementation.
Investment Bank, providing M&A, Equity and Capital Markets, Equity Trading & Research and Investment Management services covering Private Equity, Venture Finance and Equity Funds.
•Managed finance team of that produced monthly Consolidated Profit and Loss, Balance Sheet, Cashflow, Business Planning, Forecasting, KPI pack, Regulatory Capital, VAT, Tax Reporting, compliance with Financial Reporting Standards and supported all strategic projects across group.
•Supported the Corporate Governance Process as part of Shared Services senior Management team. Reported to audit committee, remuneration committee and risk committee
•Management and control of regulatory capital position, reporting to FSA in UK and development of internal reporting framework that managed capital adequacy.
•Support all strategic projects and change management across the group, including the delivery of enhancements to the operational platform including Fidessa Dealing and Sun Finance systems.
Key achievements
•Acquisition of Clear Capital, an Anglo - Indian Investment Research Company. Supported due diligence process, acquisition structuring, technical accounting and successful integration to Noble group.
•Management Buyout and subsequent capital investment by Private Equity investor, including supporting of due diligence process, transaction structuring and negotiations with banks for each project.
•Allocation of shared service centre costs to Operating Divisions and creation of monthly review process with Executive Directors.
•Implemented changes to financial procedures that improved cashflow by changing the method of invoicing clients for completed Corporate Finance transactions.
•Developed Risk Management Reporting in conjunction with compliance department to meet UK Financial Services Authority requirements.
Top 5 UK Investment Manager with £140 billion of assets under management. Provider of Equity, Fixed Interest, Property, Private Equity and Money Market investment products.
•Production of internal management information including Product Profitability, Balanced Scorecard, Embedded Value models and detailed manpower analysis.
•Provide all decision support analysis to both Front Office and Operating functions. Increased commercial awareness amongst business heads and focus on both revenue and cost base.
•Developed financial controls to ensure achievement of business plan financial targets. Controls included recruitment, company travel and expenditure on 3rd party consultants.
•Key member of strategic planning team, co-ordinating annual global budget plans for all subsidiary offices and modelling strategic plans, including sensitivity analysis and rolling forecasts
Key Achievements
•Developed Product Profitability model and implementation of SAS activity based accounting software. Developed model, sourced system vendors, implemented system, and produced reports for Executive Board.
•Seconded to Business Development team to produce business case for launch of Standard Life Wealth which was targeted at HNWI. Developed financial models, NPV / IRR, cash flow and operating model as part of Business case which was approved by Plc Board and successfully launched.
•Seconded to provide finance support to McKinsey Consultants on Strategic Review of company. Produced flexible financial models developed cost reduction programme and tracking system to ensure agreed initiatives were delivered.
•Provided financial support on the negotiation of OEIC distribution deals with multi-manager platforms (Fidelity, Co-Funds) to develop market growth strategy of SLI products.
•Supported the IPO of Standard Life plc. Provision of detailed financial due diligence information.
•Supported business case to outsource Back office division to Citigroup and Customer Service Division to Bank of New York. Finance support for business case approved by Board. Supported outsourcing projects by providing financial reports.
•Implementation of Oracle Financials ERP system. Part of RFP team, performed due diligence on vendors and then was lead finance person on implementation project. Provided training to all senior budget managers.
•Produced commercial awareness sessions that were included in the new employee induction programme. This helped to create a culture of commercial awareness amongst all staff.
Part of National Health Service in Scotland providing Acute Hospital services.
•Produce annual budget plan for Board approval
•Variance analysis reports for senior management
•Preparation of business cases for all new projects and capital expenditure
•Implemented and developed new financial reporting system
•Developed key financial reports for the Executive Board
•Financial Controller for £3m of charitable funds, including preparation of statutory accounts
•Manage workload of two accountants
referring to itself as the big boutique. Provider of Institutional, Retail and Hedge Funds with over £15 billion of assets under management.
•Managed finance team of 3 that produced monthly Consolidated Profit and Loss, Cashflow, Business Planning, Balanced Scorecard, Forecasting, Investment Performance Bonus Calculation and management of working capital.
•Member of Investment Product development team that developed Hedge Fund and OEIC products for Institutional and Retail Investors.
•Production of annual Pension Fund accounts and ensuring audit sign off by Deloitte.
Key Achievements
•Financial Support for £400 million deal to sell 25% stake in business. This included full finance diligence support, financial modelling and negotiation with bank on fundraising.
•Key member of team that transformed business planning process whereby focus was on three year plans and developed a detailed financial budget that was rigorously challenged by Executive team. Implemented quarterly forecasting process which identified key areas of cost growth and impact on three plans.
•Implemented business partnering process whereby key members of the finance team were aligned to specific areas of the business and provided all finance information.
•Developed a KPI reporting pack on the key operating functions of the group. Reported directly to CEO and attended Executive Operating Committee where report was presented. Increased accountability of operating divisions and highlighted key issues and trends on service delivery
•Key member of project team that successfully implementation of Agresso General Ledger. Developed implementation plan, reporting to Steering Committee and risk mitigation to ensure delivery on time and within budget
Global Knowledge - experience of Middle East, UK, USA, Europe, India, China and Frontier economies including regulatory and reporting requirements.
•Strategic - Leader of teams that delivered cross-border M&A, IPO, MBO, Debt Finance, Private equity trade sales, multiple private equity investments, subsidiary launches, business start-ups and outsourcing projects.
•Leader - responsible for Finance, Risk, Legal, HR, IT, Procurement and Brand Development and operational functions across group.
•Project Delivery - completed multiple strategic business change projects, both financial and non-financial, as well as large complex infrastructure projects.
•Risk Management - significant experience of developing, implementing, managing and reporting of risk management both internally and to regulators.
Sector Experience
Energy
Infrastructure
Conference Speaker •TXF Middle East