Group Finance Manager
Al Khafrah Holding Company
Total years of experience :23 years, 10 Months
- Formulate Policies and Procedures for the group.
- Advise the board on new acquisitions.
- Implement budgeting and control procedures.
- Led the Development and Implementation of group-wise dashboard for financial reporting.
- Formulated and executed the long-term strategy and business plan of the organization in consultation with Board of Directors.
- Ensured compliance with Regulatory deadlines and Board Meetings requirements.
- Championed Working Capital Optimization and reduced loan financing.
- Advised Board of Directors on compliance and business planning.
- Managed external relationships with Auditors, Tax Authorities, banks and Insurance Brokers.
- Oversaw accurate and timely financial reporting to Board of Directors.
- Supervised monthly consolidation with Headquarters in Europe.
- Led the implementation of Transfer Pricing policies.
- Reduced monthly closing cycle by 2 days.
- Spearheaded the HR policies implementation
- Orchestrated IT scheme roll out in coordination with Global team
- Mentored cross functional teams to enhance collaboration.
- Managed a team of 18 across Finance, HR and Admin, Legal and IT.
Transformed family-based business, having interests in Local and International Equity Markets, Real Estate and other business ventures into a corporate environment. Successfully implemented group wise Budgeting and monthly reporting framework. Liaison with the Portfolio Management Team for effective reporting of Equity Investments in domestic and International markets for the review of the CFO and the owner. Worked closely with financial institutions to manage the financing and interests of the investments. Directed the team towards implementing proper intercompany billing and reconciliation. Led the VAT and IFRS transformation among the group companies. Oversaw the Audit of sister concerns from the group point of view. Led the team of one of the newly setup companies as de facto GM through the setup phase developing products, pricings, systems etc. Managed a team of 3 members.
Critically appraise existing financial and operational processes within the organization. Identify and recommend best practices to optimize financial processes, orchestrate and facilitate finance workshops to initiate gap analysis and advise on best practice. Lead a high performing team of 5 personnel to achieve results without compromising levels of service. Detail, analyze and report the company’s financial position, produce annual budgets and statutory accounts in line with standards and regulations. Research and analyze statistics, develop financial forecasts and generate reports, prepare and present financial updates for CEO review. Provide analytical perspectives on strategic financial decisions, offer ideas and solutions for discussions and agreement. Conduct financial reviews of business issues, analyze income statement, balance sheet and cash flow, devise and present data to emphasize key drivers and variances. Established a robust cash management process to steer the company through very restrictive working capital conditions.
Overall accountability for the finance and accounting function for this JV between a Fortune 1000 US based company W. R. Grace and Al Turki Group of Saudi Arabia working closely with the General Manager. Established local accounting standards to adhere to the reporting requirements of both Grace and the local JV partner, arranged and oversaw audits, led all aspects of routine accounting functions. Productively created and introduced cash flow monitoring tools, involved colleagues from Purchasing, Production and Sales to forecast and manage cash requirements. Successfully progressed transactional activity relating to accounts receivable and accounts payable to offshore shared service centers. Provided training and guidance to non-finance team members to confirm the smooth processing of local and international books. Spearheaded the SAP ERP roll out, orchestrated and facilitated the training of staff throughout Saudi Arabia - recognized by Grace through a Global Premier Award and citation.
Investigated and dealt with the absence of adequate controls to prepare accurate statutory financial statements, updated data to produce accounts for this steel pipe manufacturing company. Managed a multi-million Saudi Riyals bank facility obtained for financing a project. Successfully obtained a loan facility from Saudi Industrial development fund (SIDF) circa SR 100M. Oversaw the daily financial operations throughout the company including payroll and tax submissions. Organized and participated in internal and external audits, imposed budgetary, accounting and physical controls. Retained a constant awareness of changes in accounting legislations to offer advice to the management team during business planning. Led the finance team in the successful ERP implementation. Introduced KPIs for Production and Operations. Recognized for offering support to the HR team during the transition to an electronic payroll system.
This manufacturing unit was engaged in the production of PVC floor tiles and all kind of accessories needed to work with the floor furnishing.
Muhammad Farhan Qamar, ACMA - Page 3
Worked through all phases of Accounting including AP, AR, Stores, Payroll etc. Trained the Stores team to work on the ERP system. Performed all kinds of reconciliations including Customers, Vendors and bank etc.
• Introduced the Cost, Volume and Profit analysis.
• Developed Common Size Statements.
This is a large manufacturing unit, which is certified for maintaining ISO 9002 standards. It has a work force of more than 400 workers and staff. Major production of this unit is Greige cloth which is exported to USA, Canada and to Hong Kong etc. I was entrusted with the following responsibilities here:
• Preparation and analysis of Final Accounts (Balance Sheet, Profit & Loss Account, Cash Flow).
• Quantitative Accounts (Reconciliation of Company’s Stock lying at various centers across the country).
• Banks Reconciliation and monitoring for balance amount in various accounts by managing receipt and payments.
• Reconciliation of Accounts Payable
• Payments authorization to Vendors as per contract terms and conditions.
• Administering Physical Stock Takings.
• Journalizing the month end closing & adjusting entries and preparation of trial balance
• Voucher Preparation and Posting in Computerized Accounting Module
• Ensuring accurate book keeping
This was a private limited company importing Laboratory chemicals and selling them on wholesale basis. My Responsibility was mainly to keep books of account uptodate keeping in view the legitimate requirements. Forecasting of monthly cashflow, Preparation of Accounts statement i.e Balance Sheet & Profit & Loss A/c was also my duty. I also designed and successfully implemented the Inventory Control System.
Qualified CPA exams in December 2017 under State Board of Alaska.
Three years course after completing Bachelors degree concentrating on Advanced Cost & Management Accounting and Corporate Finance. www.icmap.com.pk