Finance Director - MENA - APAC
TripleFast Middle East Ltd
Total years of experience :38 years, 10 Months
Completion of 2017 Annual Report following all government regulations and to IFRS guidelines. Recommended changes to the monthly rolling forecast. Provide information for monthly auditband risk and council meetings. Completed the interim audit management report on Internal Controls. Completed government funding and other regulatory reports.
Energyworks specializes in the delivery of multi-
disciplined engineering services throughout the Taranaki on-shore and off-shore Oil and Gas Industry including project management, fabrication and manufacture, construction, blast and paint, installation and maintenance,
employing approx. 180 employees with a turnover of approx. $41m.
Responsibilities:
Internal relationships; Strategic partner to CEO, Board of Directors, Shareholders, SLT, 6 Direct reports, Contracts Administration Team and Sales and Tender Manager.
External relationships; Company lenders, External Audit and Tax providers, Inland Revenue Dept, IT sub-contractors, Insurance, Leasing partners, Vendors and Customers.
Company and Board secretary role; Co-ordinate the compilation and distribution of monthly board reports, recording of monthly board meeting minutes. Attend to New Zealand and Australia Companies’ Office requirements.
Present the CFO report and any assigned whitepapers at monthly board meeting.
Employment management - Mentor, motivate and review performance of 6 direct reports. (Finance, Commercial, Admin, HR, Payroll and Procurement).
Risk management - Self-audit of internal controls for key financial processes within the ERP against the business management system.
IT management - Review system architecture, security, data archiving ensuring optimum system performance.
Contract management - Co-ordinate financial and commercial input to the tender team and ensure adequate contract specific or overall insurance coverage is in place.
Full review of current Employment Agreement to ensure Statutory and Legislative compliance.
Month end / Year-end Reporting Management - Approve monthly financial statements prior to board submission, approve Balance Sheet Reconciliations. Approve year end statutory and tax accounts prior to submission to relevant authorities. Ensure compliance to all local and international tax, reporting and ethics standards.
Cash-flow management - Reviewing working capital requirements to meet short term banking covenants and submit quarterly banking covenants certificate. Forecasting and reporting the weekly anticipated cash requirements to the board.
Renegotiate the short-term overdraft facility, prepare and present bank document in support of request to restructure short term overdraft facility.
Approve under delegation of authority all agreements with financial obligations.
Translate the operational metrics into measures for performance and implement throughout the company.
Establish and implement a long-range rolling P&L and Balance Sheet forecast.
IT and ERP review. Complete the integration of job costing and procurement modules to the General Ledger, gaining efficiencies in job processes by introducing new client invoice support reports, reporting of chargeable and recoverable labour and plant & equipment hours. Driving the initiative of moving daily labour and equipment timesheets from a manual to digital progress.
Full overhead cost review - immediate cost saving of approx. 1% in ebitda terms through overhead cost reductions.
Review fixed price projects for margin variance, ensuring maximum return on chargeable / recoverable hours, plant and equipment as well as reviewing the non-chargeable hours. Review job set up in the costing module is accurate with correct use of work breakdown structure. Audit project PO’s are coded correctly to right cost center. Review client labour charge out codes and internal labour cost codes. Review month end WIP report for margin accuracy.
Partnering with CEO to prepare the business for change in shareholders / equity partners in short term horizon, ensuring the company maximizes returns in terms of use of the ERP, other key systems, processes and personnel.
Key Achievements:
Renegotiate short term overdraft facility establishing a more flexible working capital structure.
Identified immediate cost savings of approx. 1% in overhead review
Lead a team of 4 direct reports in providing consolidation accounts per IFRS to the senior leadership team. Company structure consists of multiple global entities, special purpose companies, financing companies.
Providing IFRS advice to the accounting team.
Global process owner/executive in the global roll-out in SAP/SAP FC (GL, PC, CC and IC) for the newly acquired entities.
Design and implementation new finance processes / policies.
Business start-up projects in the manufacturing sector, from initial concepts to completion, including operations and financial planning, resource management, recruitment, marketing and advertising.
Responsibilities:
Global business finance focal point for the Corporate M&A and external Audit group in the divesture of the “rigs” product line, classifying the “in scope” entities via legal or tax entity basis and other operational due diligence information. Reviewing new US GAAP accounting memos and policies (prepared new fixed assets policy) relevant to the rigs entity. Collaborated with third party valuation companies in assessing fixed asset impairment, customer relationships and goodwill estimates.
Treasury management - repatriation of IC funds to Corporate and manage cash flow forecasting delegation approvals.
Corporate reporting; Representative Letters, SOD Finance and Material user conflict reviews, review of quarterly impairment analysis, review insurance requirements for the group, liaison with Corporate tax, External / Internal Audit groups and maintain banking relationships.
Presentation of monthly management consolidated global financial reports, including rolling forecasts, budget, variance analysis, capital budgets and working capital forecasts.
Interaction and management of senior stakeholders.
Management of (FP&A, Regional Accounting, Costing / Project Manager, Operations Controller department heads) and all WDI country controllers (Algeria, Australia, Bangladesh, Chad, Egypt, Houston, India, Iraq, Kenya, Kuwait, Oman, Pakistan, Saudi Arabia and Latin America Regional Controller).
Employee management, internal transfers, performance reviews and objective setting and implementation.
Operations Projects:
Global implementation of MS Dynamics AX 2012 ERP Solution Project, budget USD 3m - A complete and complex implementation for all countries and departments in WDI while still working within the corporate framework of existing systems. Decision maker as a member of the Executive & Steering Committees and finance SME for the project and direct project reports were the other business SME’s (Supply Chain, Assets and Projects, HR and Commercial). Direct management for allocation of funding.
Key Achievements:
Reduced the potential fit / gap overspend by USD 3.5m to the budgeted amount by complete analysis and reclassification of all functional work processes classed as a gap.
Recommending changes in existing business processes resulting in the elimination of duplicated effort and subsequent dollars spent.
Recognising each SME ‘s personality and character and work their strengths to common goal of each phase of the project.
Driving the vision and positive culture of change that the new ERP solution would bring each function and next tier of managers.
Carve out audited financials 2011 to 2015 Project - Upon Weatherford Corporate’s decision to divest the rigs product line, the carve out audit requested samples were in excess of 10, 000, working with and across multiple entities, product lines and support functions. The role as business leader was to achieve the goal of creating a complete set of Carve out audited financials in the required timeframe taking the lead in proving out USD 2.2b of opening 2011 assets values going back to 2005 acquisition documents. Effective planning, co-ordination, directing and leading my team of controllers, cross functions and defining standardised methods to achieve the project goal successfully as planned.
Key Achievements:
Developing and mentoring a first-class team of direct reports, driving the culture of success throughout the organisation, leading to a significant reduction in re-work.
Goods Receipt / Invoice Receipt Project - In Q4 2015, managed the project to reduce the rigs product line consolidated GRIR account.
Key Achievements:
Reduction of the consolidated GRIR account by approx. USD 9m, $6.7m positive impact to net income, balance of $2.3m as a reduction to fixed assets.
Leading and driving a culture of collaborative teamwork resulting in a productive and sound ongoing cross-functional relationship between the finance and supply chain.
Responsibilities:
• Designated a super user (as part of the MENA tax team) for Tax Based Balance Sheet reporting, the role was to review the assigned individual countries’ preparation and submission of reports.
• Recruited, trained and successful handover to the new controller. (Houston COSI, 2012)
• Lead the new Rig operation finance team to provide month end assistance, training (SAP all modules) and mentoring, procedures and provide operational commercial support for bid tenders. (Brisbane, Australia, 2011)
• Completed transitional accounting and the reconciliation of all FI conversion data in SAP for the period February to September 2009. (WDI Chad, 2008-2009)
• Remodeled SAP P&L node GL account structure reviewed and approved changes of SAP to Hyperion mapping for global WDI P&L reporting.
• Lead the co-ordination between the global controllers and corporate internal audit and external auditors for compliance (revenue) SEC reporting and reviewed on a quarterly basis SAP FI user access for internal control issues.
• Consolidated the Latin America area reporting including KPI’s for monthly Regional results meetings. (Mexico, Venezuela, and Colombia, 2009 to 2012)
Operations Projects:
• Endessa Project, Madrid Spain Lead the finance function in the start-up and operational phase to provide “rig” accounting policy and business operations advice to the operations and finance teams in Spain / Germany, provided cost reports during mobilization phase and collaborated with purchasing, logistics and inventory functions in the operation. Co-ordinated the 2012 project budget and presented month end management reports to Regional Office. (Project duration Jun 2011 to Dec 2012)
Key Achievements:
¬ Training and mentoring of a non-rigs finance and operations team.
¬ Forecasts and budget were achieved to a high degree of accuracy.
• Qatar Project. Finance lead for the 7 month project, coordinated the 2013 budget, reviewed project costs for mobilsation and refurbishment (USD 6m) for the rig. Recruited and inducted an accounts assistant. Reviewed the actual spend against the bid summary analysis and forecasts for future project lessons learnt and recommendations for corrective actions.
Key Achievements:
¬ Training and mentoring of a non-rigs operations and finance teams.
¬ Applied and implemented strict cost controls resulting in the project being extremely successful in terms of profitability, EBITDA in excess of 35%.
¬ Argued successfully with corporate accounting an accounting policy on treatment of costs change due to the Arab Spring, which positively impacted net income by USD 3m.
• SAP implementation: An active key business participant and decision maker within the overall SAP IT implementation project team, SAP implementation for WDI Chad, WDI Mexico North and Central and WDI Colombia, which required extensive review of localization tax and statutory reporting issues vs. US GAAP. Resolved post go-live issues, procedures and policy questions. Completed the SAP scope document for the WDI Uganda operation and assisted with post go-live inventory load issues.
Key Achievement:
¬ Successful implementation of SAP in four countries, training and handing over the finance and supply chain roles to the new country users.
• Accenture BPO Project - Key member in the initial BPO blue printing session in Houston, demonstrating differences in WDI / SAP procedures vs. other Weatherford product lines to the corporate BPO team, the result of this session was the exclusion of certain WDI processes being transitioned to Accenture.
Key Achievement:
Cost saving in time and therefore dollars spent as certain Accenture processes increased the work burden on administrative tasks.
Finance lead for the country encompassing, regional and corporate finance and tax reporting. Lead for all audit, tax and legal matters.
Employee management of two finance teams.
Finance lead for the country encompassing, regional and corporate finance and tax reporting. Lead for all audit, tax and legal matters.
Employee management for the finance team.
Finance lead for all accounting, audit, tax and legal matters.
Employee management of the finance and inventory teams,
Finance lead for month end accounting, audit and tax, training of new finance personnel.
Responsibilities:
• Securing and setting up the manufacturing premises.
• Various contracts negotiation and finalisation.
• Sourcing and purchasing of all specialised equipment, machinery and raw materials.
• Ensuring strict compliance with the local council food regulations including scheduled and unscheduled audit visits and client health and safety requirements.
• Designing a variety of exclusive chocolate packaging ensuring the product was well represented.
• Full accounting function including; AP, AR, GL and BS, product costing, inventory management, reporting, tax compliance and managing the capital budget.
• Led, trained and supervised the manufacturing, marketing and distribution teams.
Marketing of product at various specialised trade exhibitions throughout New Zealand and Australia in co-operation with the Auckland Chamber of Commerce
Full responsibilty for company accounting, audit and taxation plus statutory company secretary duties
Work in CA office, studying my BCom degree. Worked in Audit, Tax and Accounting advisory departments
courses: Chartered Accountant Australia New Zealand (CAANZ) – C.A. designation. Courses: • Certified US GAAP Manager (Berkeley Holdings, UAE 2014 - 2015). • Completion of all mandatory internal course e.g. FCPA, Workplace harassment, trade and compliance. • Internal Capital Efficiency, UAE 2012 and Tax Base Balance Sheet accounting and reporting, Houston 2013. JDE, GL Enquiry (March 2005 – Weatherford Internal, Singapore) • Strategic Planning –