Group CFO
Al Barrak Group of companies
Total years of experience :29 years, 1 Months
- strategic audits
- planning and control
- internal controls
- consolidation of financial statements
- working with diversified activities and different companies
- working with major clients sabic, Aramco, maaden, yasref, sasref, and sadara
- Working Capital Management
- Corporate Finance
- Cash Flow Management
- Budgeting
Key Responsibilities:
• Controlled operating cost, monitored stock movements in the stores, implemented inventory building strategies to focus on "never out of stock" programs thus ensuring that the cost is minimized and waste is eliminated.
• Supervised all staff under purview to ensure financial responsibilities of the organization are carried out efficiently.
• Ensured financial recording accuracy and compliance with established generally accepted accounting principles (GAAP), standards, internal controls and applicable laws and regulations.
ZAD is the largest catering company in Middle East with total built area around 8500 square meters and has the capacity to produce 100000 ready meals per day.
Key Responsibilities:
• Spearheaded the development and implementation of accounting policies/ systems to ensure smooth cash flow, streamline budgets, establish stringent time frames and guidelines.
• Scrutinized operational and maintenance cost estimates, whilst ascertaining achievement of established KPIs included in the budgets.
• Administered the approval and processing of revenue, expenditure and position control documents, department budgets, salary updates ledger and account maintenance and data entry.
• Planned, organized, reviewed and evaluated all accounting procedures and policies to ensure transactions are efficient and accounting is accurate and complete.
• Prepared and reviewed Profit and Loss and associated financial statements, summaries and other cost-benefit analysis, drafted financial management reports as per organizational policies and procedures.
• Scrutinized/evaluated the adequacy/effectiveness of internal controls and quality of performance in carrying out assigned responsibilities and in line with organizational policies, plans, procedures, laws and regulations.
• Streamlined and controlled budgeting process in liaison with business managers, ensured timeliness and accuracy, analyzed variances and suggested corrective actions.
• Analyzed and prepared management reports to ensure audits and the understanding of internal controls are appropriately considered, documented and reporting to senior management on a periodic basis.
• Developed forecast and budget models, performed trend/cost-benefit analysis and provided financial consultation for credit control and debtors management.
Key Responsibilities:
• Managed the preparation of the policies, procedures, statutory, quarterly accounts and maintained supporting records for consolidated financial statements/accounts for the entire department in accordance with standard accounting practices, improved monthly management accounts cycle and forecasting cash flows.
• Supervised preparation of annual budgets, business plan and quarterly business review and variance analysis, enabled smooth finalization of accounts for the annual audit.
• Initiated the company's computerized software modules inclusive of GL, AP, AR, payroll, fixed assets register, job costing and procurement records as per company policies/procedures.
• Assessed comprehensive strategy to integrate financial goals, including year-end tax and provisions for provisional and final tax declaration.
• Streamlined and controlled budgeting process in liaison with business manager, ensured the timeliness and accuracy, analyze variance and suggest corrective actions.
• Analyzed and prepared management reports to ensure that audit and the understanding of internal controls are properly considered, documented and reporting to management on periodic basis.
• Controlled operating cost, monitored stock movements and supervised all staff under purview to ensure financial responsibilities of the organization are carried out efficiently.
• Tracked all key business and monetary issues pertaining to accounting operations including payables, receivables and monthly reconciliation.
• Planned/supervised preparation of monthly budgets/financial statements and bank reconciliations enabling smooth finalization of company accounts.
• Examined/analyzed journal/ledger entries, bank statements, inventories, expenditures, consolidated financial statements, tax returns and other accounting/financial records.
• Ensured financial recording accuracy and compliance with established IFRS accounting standards, internal controls and applicable laws and regulations.
Key Responsibilities:
• Examined capital projects, documented total cost, return on investment, administered planning, accounting, financial controls, treasury, procurement and facilities management functions to maximize the financial return/profit for the company.
• Prepared and reviewed Profit and Loss and associated financial statements including balance sheets, income statements, statement of change in financial position, budget to actual variances other cost-benefit analysis and drafted financial management reports as per organizational policies and procedures.
• Recommended strategies to achieve their financial goals and objectives, including specific recommendations in areas such as cash management, insurance coverage and investment planning
• Kept abreast of all pertinent legislation, rules, regulations and court decisions that may relate to organizations financial affairs functions.
Previous Professional Experience:
• November 1989 - November 1994: Chief Accountant /Portfolio Manager, Al Anwaa Group, Riyadh, Saudi Arabia.
• July 1986 - November 1989: Chief accountant, Arabian Hala Company, Riyadh, , Saudi Arabia.
• June 1983 - December 1983: Financial Analyst, for Laing Projects, Jordan.
Highlights:
• Successfully dealt with Bechtel International inc. project manager for the expansion of the new tower of Le Meridien - Cairo (Royal Nile Tower) project for eight years and created project capital expenditure budget.
• Played a vital role in contributing for the preparation, discussion and finalization of feasibility studies for Sheraton - Hurgada project, inclusive of environmental studies with Rendel Palmer and Royal Dutch Institution.
• Acted as an asset and liability manager, liable to maintain the proper level of assets and liabilities in the company.
Key Responsibilities:
• Developed/implemented financial policies inclusive of dividend policy and capital structures, procedures and guidelines to ensure smooth cash flow, streamline budgets and established stringent time frames and guidelines to monitor and control business transactions and processes.
• Managed/controlled financial resources of organizations and development projects, developed and implemented the internal control of the division thus delivering full spectrum of finance and accounting functions.
• Administered a spectrum of financial activities pertaining to auditing, internal control system evaluation and financial statements analysis in compliance with IFRS regulations, government laws and international accounting standards.
• Prepared financial control over Le Meridien - Cairo hotel operations, streamlined/controlled budgeting process, ensured its timeliness, accuracy and consistency, analyzed variances and suggested corrective actions for the same.
• Developed, recorded and implemented an accounting manual system and procedures, established/ enhanced strong systems/ processes in line with business needs, assessed /evaluated expansion opportunities, formulated business proposals, facilitated financial analysis as required and provided accurate management reporting.
MBA finance program is designed for finance professionals it added to me a lot in the following areas:- - strategic management - capital budgeting and evaluation - E business and electronic trade - corporate finance - capital budgeting and evaluation