Group Finance Manager
Al Mailam Group General Trading & Industries
Total des années d'expérience :17 years, 3 Mois
Responsibilities:
▪ Act as a primary point of contact for financial matters, providing timely and accurate information to internal and external stakeholders.
▪ Build and maintain strong relationships with banks, investors, auditors, and regulatory authorities.
▪ Implement and monitor compliance with financial policies, procedures, and standards across the organization.
▪ Lead and develop a team of finance professionals, providing guidance, coaching, and performance feedback.
▪ Collaborate effectively with cross-functional teams and senior management to drive financial performance and achieve business goals.
▪ Leads finance team that manages Real Estate Property day to day activities (A/P, A/R, F/A, Cost Control, Treasury, and Budget).
▪ Managing local bank financial facilities including (LCs / LGs / overdrafts) as well as loans with a value of 8m KD.
Key Achievements:
▪ I Restructured the finance department by creating, A/P, A/R, cost control, treasury, and budgeting units which had a positive impact on increasing annual departmental KPIs achievements by 46%.
▪ Evaluate the group process gaps and led a task force as project manager for implementing an enterprise-wide ERP System (Microsoft Dynamics 365 F&O) and developed action plans to improve efficiency and reduce auditing errors by 67%, which helped in introducing new functions for cost management, treasury management, budgeting, project costing, and leasing.
▪ Created and implemented new financial management policies, procedures, and processes which resulted in considerable improvements in the vendor's accounts management, collection credit line management, and internal control.
▪ Implement a unified financial report format across the group.
▪ Releasing collateral on company assets (commercial buildings) held against a bank loan.
Responsibilities:
▪ Acts as a strategic financial advisor to the senior executive leadership team and Board of Directors.
▪ Assess and evaluate the group’s financial performance with regard to short & long-term operational goals, budgets, and forecasts while setting proper Key Performance Indicators (KPIs) to assess goals’ achievement and overall performance.
▪ Spearheads the development and implementation of best-practice policies, processes, and controls that ensure a well-controlled yet flexible organization with strong financial risk management.
▪ Leads the timely and accurate development of budgets, business plans, and financial reports that assists the CEO, Board, and other senior managers in making informed decisions related to resource allocation, investment, and forecasting.
▪ Ensures the accuracy and completeness of the Group’s financial statements and full compliance with all laws and regulations in all jurisdictions in which we do business in collaboration with external auditors.
▪ Prepares business proposals/models for strategic business growth, supported by analysis of the business environment, market research data, local regulations, commercial terms & financial returns.
▪ Reviews Business plans/ Budgets/ Forecasts, Balance Sheets, and cashflows based on inputs from all group companies, aligns them with the overall Strategy, evaluates the feasibility of plans & presents a critical analysis to Management.
▪ Supports in the strategic review of investments including the continuous tracking and analysis of Capex & Opex spending vs Plan in addition to recommending new investment proposals to management as requested
Key Achievements:
▪ A key member of the team that implemented an enterprise-wide Microsoft Dynamics 365 F&O ERP and developed action plans to improve efficiency and reduce auditing errors by 73%.
▪ Successfully reduced overdue accounts by 35% within a year, resulting in improved cash flow and reduced credit risk.
▪ Implemented an automated credit control system that increased efficiency and accuracy in tracking and managing outstanding accounts, reducing manual errors by 40%.
Responsibilities:
▪ Prepared and analyzed the monthly financial statements, balance sheet, cash flow, budget, and variance
▪ Performed a full spectrum of financial and cost accounting transactions including employee's expenses, Accounts Receivables, Accounts Payables, Fixed assets, Inventory, Accruals, Foreign exchange and variances, General Ledger, Journal Entries, forecasting, etc.
▪ Executed the month-end closing procedures, including overhead allocations and accounts reconciliations
▪ Participated in developing and implementing financial policies, processes, and procedures in order to provide a consistent and disciplined approach to implementing financial activities
▪ Contributed to the formulation of Corporate Strategy by developing medium to long-term operational forecasts and leading the company's annual strategic planning & budgeting process.
▪ Gauged business performance by assessing the company's budgets against actual results.
▪ Identified operational improvements, analyzed cost structures, and pinpointed potential optimizations.
▪ Monitored payments, cash balances, and cash forecasts, and managed banking relationships
▪ Provided relevant financial implications, inputs, or commentary to all reports produced for the Leadership Team and any reports required for external bodies.
Key Achievements:
▪ Led a task force targeting internal ERP revamp, which helped in introducing new functions for cost management, treasury management, budgeting, project costing, and leasing.
▪ Created and implemented new vendor management policies, procedures, and processes which resulted in considerable improvements in the vendor's accounts management, collection credit line management, and internal control.
▪ Categorized key suppliers and introduced unified payment terms for each category, which considerably impacted cash flow management and forecasting.
▪ Implemented departmental restructuring by creating, A/P, A/R, cost control, and budgeting units which had a positive impact on increasing annual departmental KPIs achievements by 40%.
Responsibilities:
▪ Oversaw daily transactions (e.g. accounts payable/receivable, general ledger, and bank reconciliations).
▪ Assisted staff members in the preparation of monthly and quarterly accounting reports.
▪ Analyzed financial statements to ensure accuracy and compliance with generally accepted accounting practices.
▪ Identified potential cash flow problems and financial irregularities and reported them to the CFO.
▪ Liaised with department heads to ensure that each department remains within the approved and agreed-upon budget.
▪ Accurately prepared tax and Zakat reports and ensured that company taxes are paid in a timely manner.
▪ Performed reconciliations of general ledger accounts.
▪ Ensured that the company maintains compliance with accounting policies, rules, and regulations.
▪ Ensured that all balance sheet accounts are fully reconciled on a monthly basis and discrepancies are immediately identified and corrected.
▪ Supported the CFO in ensuring that intercompany cost allocations are in line with management agreements.
▪ Maintained general and subsidiary ledgers, accounts receivable, revenue distribution, depreciation, cost, property, operating expenses, and insurance records.
Key Achievements:
▪ A key member of the team that implemented the Oracle ERP system, which entailed spearheading the creation, implementation & activation of the LC module across all active accounts.
▪ Led the cost control monthly cycle with project managers by verifying actual vs. planned, variances, and claims, which resulted in a total cost saving of 3m SAR over 3 years.
Responsibilities:
▪ Monitored and recorded financial transactions according to company policies and regulations.
▪ Conducted periodic reconciliations of the company’s accounts with banks and its accounts.
▪ Prepared asset, liability, and capital account entries by compiling and analyzing account information.
▪ Documented financial transactions by entering account information including invoicing, credit management, accounts clearing, and collection.
▪ Summarized current financial status by collecting information, and preparing a balance sheet, profit, and loss statement, and other reports.
▪ Maintained accounting controls by preparing and recommending policies and procedures.
▪ Reconciled financial discrepancies by collecting and analyzing account information.
▪ Provided back-office services such as accounts payable, payment, accounts receivable, collections, FS closing, and payroll.
Training Period on Electronic Accounts & Auditing
Accounting Course Instructor
On Going: CMA Candidate
Degree in Accounting & Finance