Regional Finance & Accounting Manager
National Marketing Co. KIA
Total des années d'expérience :17 years, 3 Mois
• Develop, in consultation with the GFD/GFM, the department’s strategy and business plans and ensure that they are closely aligned with the Group’s overall business strategy and objectives and the specific requirements of the Strategic Business Units (SBUs).
• Oversee development and tracking of capital and operating budget expenditures
• Evaluate and manage the financial performance and monitor and mitigate risks by implementing internal control mechanisms.
• Develop and analyze the performance of each business line against budgets; appraise the financial position and provide recommendations/actions to improve performance.
• Oversee the development and implementation of the credit policy, improving Credit Management including minimizing risk, and drive timely collection of accounts receivables
• Oversee the financial details of past, present, and expected operations to identify development opportunities and areas where improvement is needed
• Provide regular reports regarding cash flow status and forecasts,
• Oversee the daily operations of the department including review of all payments, processing related to suppliers and maintenance of payment records.
• Oversee the compilation and validation of the integrated accounts receivable and payable information and coordinate this activity across the SBUs.
• Implement a robust financial reporting system to monitor performance, flow of funds, adherence to the budget, expenditures, income and other budgetary items.
• Manage the cash-flow of the business including bank / central treasury and other counterpart relationships as appropriate.
• Oversee financial due diligence activities and manage the corporate business portfolio.
• Supervise monthly payroll processing and administration for all employees.
• Oversee the economic evaluations of existing projects and investments to improve operational performance.
• Oversee the evaluation of new project bids to provide assessment of project related financial risks, cost estimates and margins.
• Manage the development of financial models for potential mergers and acquisitions and/or business relationships in coordination with the Business Development department to assess their impact on the balance sheet.
• Work with GFD/GFM and Business Development team to identify new potential opportunities for investments.
• Oversee reporting on reinvested profits and the allocation of dividends to shareholders.
• Develop and implement the approved strategy for managing foreign currency hedging and interest rate exposure across the Group.
• Develop and implement the approved strategy for managing foreign currency hedging and interest rate exposure across the Group
• Managed all areas of accounting, including accounts payable and receivable, general ledger management, banking reconciliations and monthly balance sheet statements.
• Supported change management by understanding and addressing impacts of new accounting policies, financial statement initiatives and non-standard transactions.
• Managed accounting operations, including journal entries, collection efforts, reconciliations and payroll processing.
• Assessed budget plans and present costs to forecast trends and recommend changes.
• Developed budgets and strategic plans for day-to-day operations.
• Manage the company budgeting and financial planning process and assure business adherence to unit budgets.
• Prepared budgets, cash flow projections, cost analysis and monthly, quarterly and annual reports.
• Provided treasury and cash management by overseeing reconciliation of banking activity.
• Ensure that productions budget is well-prepared and adhered to throughout the production process
• Ensure the company's accounts are prepared as per IFRS & Egyptian GAAP.
• Manage, update financial policies & Apply best practices to minimize financial risk and ensure high level of internal controls
• Manage the relation all with the external Auditors and ensure that monthly closing is finalized on time.
• Lead Implementation & Monitor the Finance ERP system, suggesting modifications as needed to ensure that company financial systems are robust, compliant and support current activities and future growth.
• Created organizational structures to improve accounting and finance functions.
• Mitigated risk by implementing internal controls and safeguards for revenues and expenditures.
• Introduced internal controls to monitor critical areas of financial control and advise corrective actions to address risks or deficiencies.
• Follow up Controlling Inventory & Cost of goods sold Vs budgeted & actual sales gross profit.
• Update & controls after sales management with Work in process reports & Spear parts controlling reports on monthly base.
Develop, implement, and maintain procedures and policies to ensure adherence to company guidelines
Provide accounting assistance to operations staff; respond to financial questions/concerns to meet business needs
Review AP payments processed to verify payments and being processed within department guidelines
Ensure approved check requests are processed on a daily basis
Ensure all cash sales schedules are reviewed by AR team and department managers are notified of unresolved issues.
Approve the daily cash movement & reconcile the cash count to the GL.
•Weekly:
Check & insure all the customers are below the credit limit & follow up with the collection team about the past due invoices.
•Monthly:
Manage posting of month end information including invoices, contracts, contract cancellations, expense estimates
Work with Regional financial Controller to oversee team answers all month end review questions for both AR/AP to verify accuracy of financial statements
Review Account Payable Master Schedule to verify all vendors are paid for the month
Review Account Receivable Master Schedule to verify accuracy and address items that need adjustments
Month end ad hoc reports for management:
Parts Purchasing Reports
Overdue Receivables Adjustments for wholesale
Others upon request
Reconcile Mighty Auto Parts sales between AS400 and Oracle software; verify gross profit is in balance.
Analysis the PDR (Parts Discrepancy Report) & follow up on the claims with the parts manager.
Reconcile monthly GIT Parts with the PDC & other centers through the Center Monthly Receiving Report and compare it with PDC Monthly Control Report.
Confirming on the transfer in & out parts stock.
Confirm with the workshop on the WIP parts.
Check on the adjustments on the monthly Provision for Obsolete Parts Stock.
Approve Monthly Physical Stock Taking (based on the random sample process).
Reconcile Mighty Auto Parts inventory for different franchises integrated with Oracle
Process month end bonuses for dealership(s) assigned, receive approval from GM, and post the bonus entries.
Process month end stats and submit financials to management.
• Financial :
Lead, coordinate and drive PAS financial performance for (Egypt-Qatar-Oman-UAE) Projects to ensure financial goals (P&L, Balance Sheet and Cash commitments) are met while complying with corporate policies and procedures.
Provide support in Timely completion of reporting including: Monthly Highlights, Variance Analysis assessment, working closely with the project operation and PCO organization; This includes P&L, Working Capital, Free Cash Flow analysis and Past Dues. Monitoring of performance for key metrics on a weekly, monthly, quarterly basis.
Perform financial closing activities (Journal entries, P&L analysis and correction, orders stats, B/S verification) in sync with latest Controllership and COTA organization.
PAS Hedging estimate (Revenue/Billing) and Inventory/Costs on a quarterly basis.
Productivity tracking (Billability, Absorption, Time sheets and related burden rate calculation and monitoring during the year on under/overrecovery positions).
Enhance information provided to leadership for business decisions.
Conduct quarterly balance sheet reviews with Controllership.
Ensure delivering all reporting requirements according to the defined timely deadlines.
Advise business leadership of opportunities and risks impacting business performance.
Support Controller’s department on internal and external audit requests.
Ensure compliance with Corporate Policies and Procedures.
Complete special and ad-hoc projects as requested to support business needs.
Assess, recommend and document needed accruals on projects as per POC “Percentage Of Completion” accounting methods with all the supporting evidence and documents.
Participation in - Project reviews (EACs), revaluations and forecasts - help operation team understanding the situation in projects from a financial perspective. Drives the Country operation managers to deliver on financial commitments and results.
Projects overrun avoidance (CO monitoring/waivers) .
Provide support to drive and track business productivity initiatives across multiple functions.
Provide support in cash collection and past due reduction by better driving people behaviors, billing correctness, contract payment terms and milestones; Drives awareness of accounts receivable trends, support in estimation of past due levels and action to reduce it. Monitors unbilled aging and timely billing.
T&M process improvement and forecasting accuracy.
Play the role of a functional expert in Financial Reporting Systems like SAP, Hyperion Financial. Management and other business reporting tools.
Management of JV’s according to the needs.
• Taxation (Egypt Entity):
Prepare for Return tax inspection for years 2008:2010.
Prepare for Salaries tax inspection for years 2005:2012.
Check and Authorize Monthly Sales tax payments & forms.
Check and Authorize Monthly Salaries tax & Social insurance payments & Quarterly forms.
Review Form 41 for W.H.T & Additional Tax and Authorize quarterly Payments.
Prepare for yearend closing & Prepare company’s financial statements
•Dealing with Auditing team.
•Review Monthly Reports.
•Review General ledger & reconcile the Accounts transactions.
•Review & posting journal entries.
•Review & Allocate Cost Centers Report.
•Review the Actual accounts Balances with Budgeted balances & determine reasons of variances.
•Prepare Monthly & Weekly Cash management.
•Review Daily cash position.
•Review Daily Payment before authorization (Cash, CHQ’s, Wire transfers).
•Prepare Bank Reconciliation.
•Review Clearance & Settlements of the payment.
•Contact Banks & maintain Banks Relationships.
•Reconcile LC’s Payments with the payment terms.
•Prepare LC’s & LG’s Documents for Authorizations.
•Recalculate Bank fees for accounting treatment & Tracing.
•Review for Payables contracts & determine financial terms.
•Review received invoices due to the contract financial terms, PO & received items.
•Tracing supplier’s balances.
•Aging A/P according to the due dates.
•Maintain Accounts payable balances
• Prepare monthly financial reports including analysis monthly revenues and expenditures & distributing it according to the cost centers.
•Manager for fixed assets tagging project.
• Safe box keeper till 15 March 2009
• Prepare journal entries, reconciles general ledgers, subsidiary accounts.
• Review suppliers’ contracts & the financial terms.
• Review received invoices due to the contract financial terms, PO & received items.
• Tracing supplier’s balances.
• Aging A/P according to the due dates.
• Maintain Accounts payable balances
• Prepare monthly financial reports including analysis monthly revenues and expenditures & distributing it according to the cost centers.
• Assist with the preparation of annual and mid-year budgets.
• Hold Fixed Assets register, follow up the additions, and calculate fixed assets deprecation & any retirement.
Perform Auditing tasks.
•Prepare sales tax reports.
•Prepare journal entries, reconciles general ledgers, subsidiary accounts, prepare monthly financial statements including analysis monthly revenues and expenditures & distributing it according to the departments uses.
•Assist with the preparation of annual and mid-year budgets.
•Prepare and assist in auditing process.
•Deal with governmental authorities.
•Analysis of accounts, and monthly reporting.
Prepare journal entries, reconciles general ledgers, subsidiary accounts, prepare monthly financial statements including analysis monthly revenues and expenditures & distributing it according to the departments uses.
•Assist with the preparation of annual and mid-year budgets.
•Prepare and assist in auditing process.
•Deal with governmental authorities.