Finance Manager
KUDU Company for Food and Catering
Total years of experience :18 years, 10 Months
Primary functions and essential responsibilities,
- Manage, lead, and motivate a finance team of 25. Reports to cluster CFO.
- Develop policies, standards, and guidelines in respect of accounting procedures concepts
and methodologies.
- Maintain reporting standards and procedures for financial and management accounting
purposes as per international financial reporting standards (IFRS).
- Oversee Company internal financial controls ensuring the maintenance of high standards of control and integrity over processes, transactions, assets, and financial systems.
- Manage Company working capital through accurate cash forecasting and appropriate investment strategies.
- Ensure company compliance with the Financial Management Act, ZAKAT obligations, other relevant legislation, accounting policies and standards, and internal financial policies and procedures.
- Coordinate and assist in the preparation of annul budget and long-term budgets including the projects and capital budgets. Furthermore, monitor budget adjustments and performance.
- Ensure that inventories are accurately valued and ensured to keep optimum inventory levels for effective working capital management, closely monitored the actual waste of materials & report any major variance.
- Coordinate and assist in the preparation Board reports, including actual results, variations from budget, full year forecast.
- Liaise with external and internal auditors in relation to financial matters.
- Enhance operational and financial performance reporting within the organization
including profitability analysis of key business elements.
- Supervise the Group Treasury cross functions for over 7 subsidiaries both domestically &
internationally.
- Manage company financing source in addition to building and maintaining banking
relationship
- Facilitating existing syndication loans & potential facilities (OD/LCs/LGs/Callable
Documents against Cash) offered by onshore banks to enhance financial position in the
financial market. (Currently set at SAR 2.10 Bn.
- Operative Credit Lines and Leveraged Buyout)
- Manage non-medical insurance related activities of the company whilst covering and
maintaining Group Non-Medical Insurance Risk Model.
Primary functions and essential responsibilities,
- Built, developed, and maintained bank relationships with Financial Institutions Senior Management for local and international support.
- Maintained the delegation of bank signatory matrix and procedures for the group; in addition, ensured regular updates and their apposite communication across the company.
- Provided daily cash position, estimate, analysis and maintain correct estimate of cash balances
- Identified and analyzed currency risk exposures through active financial risk management and devised profit-enhancing strategies to guarantee maximum return.
- Maintained on-line updates with latest money market news to update currency risk exposures.
- Managed cash and non-cash facilities SR 600Mn including STL and MTL
- In charge of monthly review and analysis on debt, interest expense and interest
capitalization.
- Monitored and ensured appropriate work standards, effective workflows and operating procedures within the billing and credit control process.
- In charge of monthly reporting of unbilled and overdue debt.
- Maintained the corporate credit policy and recommended changes in the credit
policy to senior management.
- Oversee timely and accurate monthly billings and review cash position reports
- Supervise and manage office administrative staff of 6 employees and train staff and Provide on specialized
training as needed
- Review contracts and ensure accountants understand and are in compliance with specified terms and Handle
daily project issues
- Assist in providing support to the external auditors during annual audits
- Review subcontractor progress pay estimates and facilitate payments while ensuring compliance with contract
terms and conditions
- Research, analysis and other technical support to ensure transactions are recorded in a timely manner and in
compliance with GAAP
- Ensures that the company books and records are updated and maintained in compliance with GAAP
- Prepare and control the reconciliations for the suppliers and Adjusting statements (Payable, others...), and cash
management control.
- Responsible for receiving invoices, matching invoices, resolving issues, and entering AP invoices into the
accounting system
- Reviews and posting of all accounting transactions entered by accountants reporting directly
- Performs highly complex accounting work according to generally accepted accounting principles, established
procedures, departmental guidelines, and regulatory requirements applicable to the work.
- Day-to-day functional responsibility for accounting areas such as payroll, general ledger management, accounts
payable, fixed assets and consignment inventory.
- Process the local and worldwide payments and ensure the process is in line with the latest policies regarding
payments.
- Handle Letters of Credit - Check the LC request format attached with purchase order and approved price
comparison. Fill in LC applications and secure signatures, check LC’s opened with LC applications, advise banks of any errors, handle LC documentation, acceptance and monitor delivery and expiry date of LC’s update LC position on daily basis
- Providing Daily Cash position, estimate, analysis and maintain correct estimate of cash balances
- Monthly review and analysis on debt, interest expense and interest capitalization
- Develop, drive and manage bank relationships with Financial Institutions Senior Management for local and
international support
- Maintain fixed assets register and their monthly depreciation JV’s, tools register and their charged outs and
vehicle allocation JV’s on monthly basis.
• Review of customer age analysis, Preparation of collection schedules and Evaluating customers credit application facility
• Review of debts, Visiting customers offices and Generation of customer statement of accounts, Reconciliation of customer account
• Co-coordinating Financials Reports Functions and internal control of region according to the management policy
• General administration and control of sales, receivables and inventory for the region
• Control collections, deposit Banks & Gold
• Ensure that corporate policies relating to submission of invoices, deposits of cash and gold, discounts etc, are properly followed and make penalties for non compliance and report to H O For continuing defaults
• Prepare daily sales, collections and receivables report for H O and region manager
• Monitoring the balance of scrap gold and cash treasury and transfer excess scrap to HO
• Monitor delinquent receivables accounts
• Accounting and control of daily branch expenses to ensure conformity with corporate polices
• Monthly reconciliation of H O current account for remittances and expenses
• Reconciliation of gold balances, cash in hand, cheques under collection and preparing bank reconciliation statements
• Month end finalization of branch accounts and generation of trial balance and feeding in ERP BAAN System
• Reconciliation the balance of receivables with the customers
• Analyze financial data to produce forecasts of business ( Analyze Receivables Turnover - Collection Policy Efficiency - Inventory turnover - Distribution Channel Efficiency )
• Analyze monthly Sales and compare results for previous year results ( analyze the sales by product - sub product - product weight )
• Analyze factors which effect at sales figure ( analyze Gold price - inflation Rate - other Factors )
• Analyze Markets Coverage Policy
• Preparing Financial Ratio Which Required by CFO and FC and GCA
Prepare of all audit working papers in accordance with Office policies:
- Maintain an objective state of mind and an appropriate level of professional skepticism and perform all work with due care
- Communicate findings and issues to the in charge and among the audit team, as appropriate, on a timely basis. Research and document facts as directed by the manager.
- Understand the decisions taken to resolve significant findings and issues, Accounting, auditing and financial reporting, including fraud related matters
- Perform the following audit procedure:
- Overall review of financial statements, including final analytical procedures and review of other information that includes the audited financial statements
- Overall evaluation of results of the audit; discuss all significant matters, including disagreements (e.g. differences of opinion) identified in assigned
areas, with the manager .
- Fulfill all required working paper documentation, including specialists’ reports and representation letter(s) from the client
Accounting and Finance 4 years study