Financial Manager
EL Gammal for contracting
Total years of experience :21 years, 10 Months
Financial Manager, El Gammal for contracting group.
Monitor the day-to-day financial operations within the company, such as sites costs, process billings, suppliers’ payment and other transactions. Oversee financial department employees, including financial assistants and accountants. Contract outside services for tax preparation, auditing, banking (Current, OD lines, Loans), investments, and other financial needs as necessary. Track the company's financial status and performance to identify areas for potential improvement. Seek out methods for minimizing financial risk to the company. Research and analyse financial reports. Provide insightful information and expectations to senior executives to aid in long-term and short-term decision making. Review financial data and prepare monthly and annual reports. Present financial reports to board members, stakeholders, executives in formal meetings. Establish and maintain internal control & financial policies and procedures for the company. Supervise the inventory department establish and restructure the department. Prepare and review the contracts of the clients and subsidiary BU and accounts. Cash flow preparation based on monthly& weekly bases, following up the collection process. Supervise the budget preparation and prevent budgetary slack and control costs by budget figures. Close monitoring, analyse the variances between budget and actual figures.
Assist in formulating the company's future direction and supporting tactical initiatives, Monitor and direct the implementation of strategic business plans, Develop financial and tax strategies, Manage the capital request and budgeting processes, Develop performance measures that support the company's strategic direction.
Responsibilities:
•Prepare monthly management report reflecting actual monthly achievements by collecting data from each function.
•Analyse operating Key Performance Indicators (KPIs) by making separate analysis for: (Actual vs budget, forecast & last years).
•Control functions activities through Performing monthly reviews with related functions to validate performance vs. budgets, in addition to updated Forecast and assist business partners, sort out ways of cost saving and performance improvement to make timely effective strategic decisions in business operations.
•Report Budget & forecast cash Flow.
•Submission expenditures for Actual, Forecast and budget separately.
•Report & monitor cost control for the stock cost and report it to GHQ.
•Monitor and ensure expenditure is in line with company policy and any excessive are highlighted and reported through administering tracking sheets for each function expenditures.
•Facilitate internal control. Preparing annual budget and forecasting trends.
•Ensure that proper credit control process takes place before delivery of traded goods to customers and the receivables are collected in line with the trade credit terms optimized for the company within the prevailing economic parameters.
•Maintain reports for top management summarizing the business financial position in areas of income, expenses, capital usage and cash flows on daily basis, Acting as budget controller from the start point to the end.
•Participate in conference calls with the investment community.
•Maintain banking relationships.
•Coordinating the preparation, maintenance and filing of projected P&L account, bills discounting
and balance sheet as required by bank authorities and other financial institutions.
•Getting control accounts reconciled and sorting out the discrepancies.
•Liaison with other business related organizations .
•Filing tax return, Independent handling of tax return & Income tax assessment.
•Ensure that the company assets are managed effectively, efficiently and their security is maintained.
•Ensure that the payments of purchases and other company liabilities are paid correctly, securely and within the agreed terms with minimum processing cost.
•Ensure that the company surplus cash is invested with maximum interest and credits/overdrafts used from the banks are at competitive market rate.
•Ensure that the company assets are insured against the relevant risks with most appropriate coverage at minimum cost.
•Ensure that the tax activity is done on time, correct and in line with the Group and legal requirements.
o Review income tax calculations on yearly basis.
o Prepare deferred tax calculations on yearly basis.
o Ensure on time tax inspections for all tax types.
o Ensure on time tax reports submission to tax authorities.
o Respond to queries from the Group and the tax authorities on the periodic reports and ad-hoc information requests.
Establish the company from the beginning, implement the accounting and financial policies & accounting system driving consistency the best practice across all the business, Responsible for improving the companies cash flow and
reducing its arrears by keeping accurate records and ensuring payments are received on time, Handling all the tax issues and end-year closing.
Responsibilities:
•Participate in key decisions as a member of the executive management team.
•Maintain in-depth relations with all members of the management team.
•Manage the accounting, human resources, investor relations, legal, tax, and treasury department.
•Oversee the company's transaction processing systems.
•Implement operational best practices.
•Supervise acquisition due diligence and negotiate acquisitions.
•Determining financial objectives., Designing & implementing systems, policies & procedures to facilitate internal financial control. Preparing Annual Budget and forecasting trends.
•Developing reports for top management summarizing the business financial position in areas of
•income, expenses, capital usage and cash flows, and coordinate the preparation of strategic plans,
budgets and financial forecast.
•Developing and updating accounting, finance and management policies and procedures.
•Ensure that the company assets are managed effectively, efficiently and their security is maintained.
•Monitoring budgets and comparing them with actual cost and revenues related to operation.
•Coordinating the preparation, maintenance and filing of projected P&L account, bills discounting
and balance sheet as required by bank authorities and other financial institutions.
•Filing tax return & Income tax assessment.
•Processing of Purchase Bills of Raw Material, Asset & Passing Bills of expenses from various
Departments.
Assist in formulating the company's future direction and supporting tactical initiatives, Monitor and direct the implementation of strategic business plans, Develop financial and tax strategies, Manage the capital request and budgeting processes, Develop performance measures that support the company's strategic direction.
Responsibilities:
•Prepare and submit the monthly financial results comparing with budget forecasts.
•Perform detailed account analysis and corporate month-end processing and reporting.
•Maintain the general ledger, ensuring compliance with international GAAP/IFRS.
•Organize the system for timely flow of correct information.
•Prepare/control the periodic reports required by the local legislation.
•Ensure submission of the reports to relevant places within the given deadlines.
•Ensure that the company in compliance with the relevant local legal requirements financial policies and procedures.
•Ensure that the company books and all financial transactions are in line with the legal requirements matching with policies and procedures.
•Organize the relevant audits to verify that the company complies with the respective requirements while trying to minimize the tax liability.
•Ensure that the company assets are managed effectively, efficiently and their security is maintained.
•Ensure that proper credit control process takes place before delivery of traded goods to customers and the receivables are collected in line with the trade credit terms optimized for the company within the prevailing economic parameters.
•Ensure that the payments of purchases and other company liabilities are paid correctly, securely and within the agreed terms with minimum processing cost.
•Ensure that the company surplus cash is invested with maximum interest and credits/overdrafts used from the banks are at competitive market rate.
•Ensure that the company assets are insured against the relevant risks with most appropriate coverage at minimum cost.
•Following the shipments process starting from pro-forma till we received the items in the store and closing the shipment y I the inventory.
Monitor stock levels and perform inventory reconciliations and inventory physical count.
•Providing Company Directors with accurate financial information, management accounts and data analysis using business analysis system including balance sheet and income statement and cash flow, ratios…etc.
•Monthly bank reconciliations and flowing up the offshore payments.
•Interpreting cash flows and predicting future trends & identifying the potential for making financial savings.
•Contributed to strategy formulation and forward planning as a member of the management team.
•Prepared the necessary documentation to assist the directors to get short term loans and establishing a new sister company.
•Budget preparation and monitoring of revised profiles as necessary during year.
• Researched budgets and implemented a cost effective plan for infrastructure and support expenditure.
•Handling some administration task like renewal import and export cards and preparing the GOM in the end of the year.
Setting up the company from the beginning, responsible for purchase and sales Ledger accounts, petty cash, expenses, invoicing and post. Ensuring budgets are strictly maintained, payroll, reconciliation and tax returns are completed, the reconciliation of payee year end returns, assisting in auditing.
Responsibilities:
•Managed the corporate finance tasks including all financial, management and statutory accounting and reporting.
•Prepared and interpreted the actual monthly financial statements, forecasts, budgets compared the actual with the forecasted figures.
•Managed intercompany processes and its accounts.
•Prepared statutory reporting and liaised with auditors on the end- year audit.
•Supervised back office operations including management of staff.
•Managed, reviewed, evaluated, selected and implemented group consolidation of ERP financial system.
•Prepared, maintained and developed the corporate section of group policies and procedures.
•Liaise with corporate office and local insurance representatives for company insurance policies.
•Liaising with shareholders.
•Liaising closely with other company Departmental Heads to achieve improved performance & Analysing financial data.
•Managing the cash-flow needs of the company& Ensuring that financial best practice is always practiced.
•Advising on new financial and accounting regulations& Managing and mentoring a team of qualified and trainee accountant.
•Responsible for all accounting and financial information for the company activities& Implementing training courses for new recruits.
•Performed monthly, quarterly, and annual reconciliations and audit work papers, footnotes, and schedules as requested.
•Provided training in the use of the Great plans computerized financial system and assisted departmental. Personnel with budget questions, and other accounting related activities.
•Performed fiscal year-end and fixed asset accounting.
•Performed monthly close processes to increase accuracy of recording financial transactions and analysing results in a timely manner.
•Performed variance analysis, labour efficiency, cost estimates, budgets, standard updates, journal entries and account reconciliations.
•Assist the CFO in the leasing process of our fleet and flowing up the fleet expenses on daily bases according to the operation report.
• Release the invoices to customers and collect the invoices amounts in its due dates.
• Following the payment of the marketing service department on monthly basis.
• Audit and pay the ushers payroll in the of each project.
• Recording all the safe transaction and its accounts.
• Analysis the marketing service account on the mother company system.
• Preparing the P&L account for the department on monthly basis.
•Ensure that the costing is done on time, correct and in line with the Group and legal requirements.
o Review standard costing rates versus actual on monthly basis.
o Submit costing files on quarterly basis prior to plan and forecasts submissions.
o Able to propose cost benefit analysis.
o Prepare variance analysis of actual versus standard and versus plan and forecast.
•Ensuring that payments to vendors are processed within agreed terms and prepare the chqs on weekly basis.
•Responsible for the A/P account and matching the sub ledger of A/P with the G/L account on monthly basis & Followed up outstanding queries on purchases invoices held for payment.
•Audit the salesmen invoices compared with inventory statement on daily basis according to the sales policies.
•Preparing robust sales report on daily basis to deliver it to CEO compared with the cash balance and the credit rules.
•Deliver the banks entries to the system and Make wire transfers and journal funding transfers and reconciled monthly bank statements.
•Records statutory books.
•Charged for the stock count process of raw material &under process goods& the inventory in the end of every month.
•Monitor stock levels and perform inventory reconciliations, record the transaction on daily basis.
•Monitoring the final product inventory and its transaction on daily basis.
•Assisted with the preparation of the annual and end-year tax return and budgets.
• Preparing reports about the machines breakdown
• Calculate the waste of packing paper & Row materials
• Prepare a report about the under processing from row material &packing materials on daily bases
• Assist in monthly inventory physical count
2000- B.A in commerce. Helwan University. Accounting Department. Degree: Good.