Chief Financial Officer ( CFO )
Al Dhafra Cooperative Society
Total years of experience :22 years, 0 Months
Company Profile:
A group of company with 1750 shareholders which was established in 1977 specializes in the field of Oil & Gas Services, Public Transport, Real Estate & Construction, Facility Management, Heavy Equipment Rental, Retail & Wholesale and Manpower Recruitment. It has 2200 employees with over one billion dirham assets and annual turnover 550 million Dirham.
Duties & Responsibilities:
Serve as member of senior executive management with direct reporting responsibility to the CEO & Board of Director
Oversee the activity of 4 departments Finance, HR, IT and Procurement
Monitor and develop a direct team of 40, managing work allocation, problem resolution, performance evaluation
Provides coaching, guidance and support, set professional development plan to assist employee to reach their full potential through the performance management process
Assist the CEO in carrying out strategic financial planning, forecasting, financial monitoring and budgetary controls for all companies
Engage the finance committee of the board of directors to develop short, medium, and long-term financial plans and projections, as well as, issues, trends and changes in the operations
Monitors organizational progress towards objectives and key performance indicator
Coordinate and direct the preparation of the annual budget and report variances
Participate in key decisions pertaining to strategic initiatives, operating model and operational execution
Develop and execute analysis of various business initiatives (e.g., opening new operations, asset acquisition, new service launches)
Ensure the organization is in compliance with all internal policies and relevant regulations. Keep abreast of changes in financial regulations and legislation
Responsible for organization’s relationship with banks, insurance Co. Auditor and develop a positive and trusting relationship with Financial Institutions and Advisors
Company Profile:
Gift Mart Gen Trading Co.L.L.C is a general trading company has two line of business, trading in gift and promotions items, transport and trading of building material.
Empire Rocks Engineering L.L.C is a Multidisciplinary Company of Surveyors, Designers and Engineers in the field of Mining, Excavations, Aggregates and Rocks Trading, Mine Planning, Drilling & Blasting
Duties & Responsibilities.
Support the management through the provision of sound financial advice and ensure that the financial interests of the company are safeguarded; adequate controls are in place and financial targets are achieved in accordance with the company policy and local legislation.
Managing all financial operations for all companies, including financial reporting, working capital management reports, investment, cash management
Develop and analysis of business costing structure and continuously monitor against the approved Business Plan.
Responsible for organization’s relationship with banks, insurance Co. Auditor and develop a positive and trusting relationship with Financial Institutions and Advisors.
Overall management and review on operations and financial performance develop and implement financial plans, policies and internal controls.
Complete financial control for six departments related to assistant general secretary for water affairs .
Managing and overseeing all financial activities of water sector and monitor budjet expenditure.
Preparation of Consolidation Report and monthly budgets performance for internal reporting .
Supervision the Reconciliation of Vendor and Contractors Account for water project on monthly basis .
Dealing with creditors, prepration loan terms and conditions, Follow up loan settlement for water sector.
Managing external financial aids to the water sector and monitoring expenditure of these aids
Complete supervision of the branch credit division employee and holding periodical meeting for these employee to inform them with the new bank resolutions and to report their suggestion to the branch manager. The job also involves participating in preparing and implementing the facilities estimate budget of the branch
Receiving, studying and evaluating all types of credit facilities( retail & corporate ). These include performing complete credit and financial analysis for the customer financial statement, cash flow, collateral and risk bureau from CB, then writing and editing complete credit recommendation to the credit committee
Review the branch facilities portfolio on an going basis to ensure that all the accounts are being operated as per the approved terms and conditions and to recognize the problematic accounts to make necessary follow up
Periodically, visit the prospective and current customers in their working areas before, during and after facilities award to evaluate their current working status and to insure that the customers are using their grants in the best possible way and report to the bank management
Contact the facilities customer frequently to inform them any new issues concerning their facilities
Insuring that the payment are made in the due dates and finding appropriate resolution for the bad debts accounts
Reviewing and approving credit card application and making necessary recommendation, then insuring its deliver to the customer
Perform several accounting modules (GL, A/R, A/P, Sales, Purchase and bank reconciliation ...)
Involved in partnership Co. Auditing.
Prepair Trial Balances and financial statements.