Senior Finance Executive
Al Hamra Group
Total years of experience :13 years, 4 Months
• Formatting various Budgets & Analyzing Variance to determine the difference between Projected & Actual Result & implanting Corrective actions.
• Managing finance, accounts up to finalization, compilation of data, financial statement preparation, MIS reporting, negotiating with banks, among others.
• Supervising and reviewing of daily/monthly financial activities such as document preparations, cheque preparation fund transfers, cash flow management, cost allocations, chargeback to other entities & cost management of the division etc.
• Proactively provide monthly financial reports to the business, i.e., Profit & Loss, Balance Sheet and Cash Flow.
• Efficiently processing heavy volume of invoices and ensure they are properly coded to the general ledger (PO/Non-PO invoices).
• Managing rent contracts, administrative activities & liaising with other group entities & other business requirements.
• Tracking Operating expenses and ensure the OPEX within the budget/forecast.
• Analyze daily revenue results to calculate year on year growth and variances to current year plan and forecast and subsequently provide an independent estimate of full-month results to Executive Team.
• Preparation Year to Date Revenue performance report, monthly operational reports per stores, and Manage Month-end Management Reporting.
• Collating supplier’s agreement conduct contract review and advise category some measures to increase the FE/BE rebates.
• Ensure that the account balances have been reconciled on a monthly, quarterly and yearly basis with the appropriate records.
• Responsible in changing stocks level requested from stores and supply chain.
• Responsible to escalate for open items which are aging more than management thresholds.
• Work closely with the AVP to generate and analyze financial reports pertaining to the profitability and Budgets.
• Support Central Finance in a submission of weekly P&L Estimates.
• Setting the budgets & KPIs and monitoring the performance against budgets.
• Participate in the preparation of the annual plan, budgeting, and forecasting.
• Clear communication with key accounts managers of Samsung, LG and Midea Gulf Electronics, regarding the collection of their client’s overdue accounts the best approach to ensure a successful collection of funds.
• Responsibility of preparing:
o Monthly billing feeds and uploading the same in HIBS Application and actively participate in AOP numbers.
o Gain a deep understanding of GPDM, COGNOS, and TM-1 applications including creating and modifying reports.
o Actual & Settlement reports ensuring proper allocations as budgeted.
o Financial statements, i.e. Profit & Loss a/c and Balance Sheet.
• Assisting in the creation of more streamlined agreements in the case of disputed and overdue payments whereby providing the management with monthly debtors aging reports and rendering explanation for overdue debtors.
• Accommodating detailed analysis of monthly actual vs. planned, prior months & prior years (MTD, QTD YTD & PY).
• Ensuring fidelity to group policies, audit, controls and compliance requirements.
• Providing timely, relevant and accurate reports and analysis of the organisation’s performance to facilitate decision-making towards achievement of the budget and strategic plan.
• Performing all job cost tracking functions (maintaining client invoice files, auditing job costs, tracing and resolving errors, producing accurate and timely client billing).
• Responsible for preparing Debtors & Creditors Reports, Accrual Reports, Cash & Exco Reports and commencing all activities related to P&L and outstanding accounts.
• Evaluating over/underpayment; initiating return of overpayments and issuing letter requests/inquiries to customers with underpayments or those with unauthorized deductions.
• Supervised operations of the Accounts Receivable (AR) section with focus on ensuring efficient processing (payment allocation, reconciliation and month-end reporting) of company receivables through SAP and timely collection in accordance to company policies.
• Ensured proper recording and application of cash & management of outstanding invoices; directly interfacing with customers on collection matters and resolution of disputes.
• Reviewing new enhancements to determine the impact to the Accounts Receivable (AR) process; managing any process/system changes as appropriate.
• Successfully implemented Standard Operating Procedures (SOPs) for report production & distribution through clear documentation & updation.
• Pivotal in providing accurate, consistent, complete, relevant and crystal-clear information.
• Positively impacted company profitability by managing quarterly cash collection.
• Increased credit standards of the organization by streamlining the Accounts Receivable (AR) process through more efficient tracking of invoices and payments, eliminating lost invoices and duplicate payments.
• Preparing Budget, Branding, Promotion, Revenue and Expenditure Analysis.
• Preparing monthly and annual statement on revenue generated by the marketing team and analysis of expenditure spent on branding and promotion MTD, and YTD.
• Verifying of vouchers and bills.
• Understood the organization's strengths, weaknesses, services as compared to industry & competitors and prepared market surveys, reports on competitor’s strategies.
• Conducted market research on competitors and rival products, submitted detailed reports and analyses on the same.