Group Financial Controller
Khashoggi Holding
Total years of experience :22 years, 7 Months
Khashoggi Holding has diverse investments -- Maintenance contracting (Power sector), Catering & Facility Management and Sports Management Services.
Reporting to the Chairman and responsible for the Group Finance department with a team of 4 and the finance manager of the individual companies reporting to the Group Financial Controller.
Key Responsibilities
Review and evaluate current and prospective investments for ROI, sustainability and exit strategy
New Projects Feasibility study
Due Diligence for Acquisitions/ Mergers
Group reporting - Management Reporting (consolidated) for various companies. Analytical review of business in comparison to KPIs, Milestones and budgets.
Manage Cash Flow and group funds requirements.
Establish/ Ensure
‘Efficient’ finance department for the Holding entity and Group companies
ERP system for Group, with consolidation of group companies.
Internal Controls, policies and procedures
Liaise with banks for arrangement of facilities, loans and project financing
Major Achievements
Established an efficient group finance department
Established group reporting structure, with Key Performance Indicators (KPIs)
Change Management - Family Business to Corporate Governance - by establishing Corporate Policies and Procedures.
Led the due diligence of companies in Catering and Construction sector.
Ghaith Aviation formed with the vision of delivering a one stop shop solution for all of aviation needs. Ghaith Aviation is 100% subsidiary of the Khashoggi Holding.
The Shareholders decided to discontinue the aviation business and the team was left redundant.
Recalled to Khashoggi Holding as Group Financial Controller in May 2011.
Organizational reporting to CEO and ‘Functional’ reporting to the Group CFO.
Responsible for the finance department with a team of 14.
Key Responsibilities
Establish an efficient Finance department for the Private Aviation Unit
Financial and management reporting - Result analysis -- Actual versus budget/ forecast, Profitability analysis Cost and productivity analysis
Quarterly cash flow projections and rolling forecasts
Product pricing and review
Major Achievements
Established the finance department for Private Aviation unit of the company. Trained and mentored the team to be successful at their responsibilities.
Enhanced Operational reporting with Key Performance Indicators (KPIs)
Established a working model for the budget and a robust five year business plan
Achieved cost savings in the areas of Fuel consumption (through regular fleet consumption reports to operations), Catering costs (renegotiation of catering contracts with distinct deals for the crew) and Hotel costs by identifying the areas of concern to the management and providing alternatives to achieve savings.
and Reporting
Reporting to the Financial Controller and leading a team of four.
Key Responsibilities (for all Four Business Units - including consolidation)
Financial and management reporting; Budget control and variance analysis.
Building costing models for projects and customers
General ledger; compliance with IFRS & SOCPA, Manage Chart of Accounts
Major Achievements
Established reporting system in the form of monthly ‘Flash Report’, ‘Business Unit’ reporting and ‘Analytical Reporting’ based on activity and further variance analysis on comparison to the budgets.
Planned and structured the monthly/quarterly closing process and regularly achieved target date for quarterly closing.
charge of Establishing the Finance Department.
Successfully implemented computerized accounting and reporting, Job Costing, pricing and reporting, Inventory Management and annual budget.
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