Group CFO
HSA Group
مجموع سنوات الخبرة :35 years, 8 أشهر
HAYEL SAEED ANAM “HSA” GROUP, Dubai, UAE
HSA Group is a leading Middle East Conglomerate, with diversified industrial, trading and service activities with annual turnover exceeding $ 15 billion, including 97 different companies focusing on Middle East, Africa and Asia.
Reporting to the CEO of the Commodity Business Unit, member of business unit executive committee. Leading the Finance and Accounting function with objective to integrate the various activities of the unit’s companies and to expand value chain backward and forward. Provided strategic vision, championed formal planning process. Provided the financial requirements for business unit expansion plans.
Notable Achievements:
• Centralized the treasury function for all commodity unit companies, resulting in reducing working capital requirements, enhanced and optimized funds utilization.
• Established competitive bank facilities exceeding $ 450 M for commodity unit companies.
• Produced annual savings exceeding $ 10.8 M by replacing local bank facilities with international trade finance structures benefiting from the different interest rates.
• Established and managing balanced and lucrative investment portfolio of $150 M
• Created system, policy and procedures for a new commodity trading company in Singapore.
• Registered the Singapore Company under Global Trader Program “GTP” to maximize tax benefits.
• Formed $50 M special trade finance structure for Singapore company activities in Egypt.
• Established $ 80 M structured trade finance facility for Sugar refinery in Yemen with local/Swiss banks
• Selected and implemented CTRM trading software for all group commodity business.
• Designed and tailored structured trade finance model to generate cheap finance for group operations by using the various group trading operation flow.
• Structured future trading desk and developed the hedging function to mitigate commodities fluctuation risks and maximize profits using various derivatives models.
• Seasoned team member of group pilot project working on mobilizing all group companies under harmonized legal, administrative, IT and management structure.
• Member of SAP ERP application implementation team for HSA Group.
Reporting to CEO, steering committee member, directing the Finance and Accounting function with objective to drive the operational and profit improvement. Provided strategic vision, championed formal planning process, and tightened integration of operating departments and revised organizational structure to meet growth and demands of the business.
Notable Achievements:
•Acquired domestic and overseas lines of credit facilities exceeding $ 180M by nurturing banking relations and applying latest structured trade finance models that guarantees high and secured level of business leverage.
•Increased turnover from $ 28M to $ 260M in three years by availing and professionally managing the required finance for all projected business activities.
•Successfully completed the sale of a group subsidiary to a regional conglomerate at a $35 million deal.
• Developed Value At Risk (VAR) model as basic risk mitigation tool; analyzing, quantifying and managing global risk exposure of the group.
• Obtained and efficiently utilized large and diversified lines of derivatives to mitigate the risk of currency and commodity price fluctuations.
• Established overseas subsidiaries in UK and Switzerland to serve trading activities and maximize the tax benefits of the different regimes.
• Saved annually more than LE 10M in potential taxes by complying with 2005 new tax law requirements regarding documented expenses.
• Defined Key Performance Indicators for the group with proper allocation to all business units and service departments and linked the annual employees compensations to achievements of group KPI’s.
• Reduced financial closing and periodical reporting from 25+ days to 5 days, implemented process controls for accounting modules ensuring accuracy, consistency and quality of internal reporting.
• Successfully implemented enterprise-wide “Oracle” ERP system.
Reporting to CEO, oversee the financial and accounting function, monitoring and controlling industrial costs, advising management on new investment opportunities, leading budgeting, forecasting process for running business and feasibility studies for new projects.
Notable Achievements:
• Defined and implemented corporate policies and procedures for the entire group.
• Acquired funding of $ 56M for building new paper mill, including large stake of non-refundable grants from European Development Banks supporting industrial modernization and environmental benefits.
• Shifted the group accounts from manual bookkeeping into automated accounting system “Al Mutamim”.
• Reduced financial closing and periodical reporting from 40+ days to 7 day and enhanced quality and accuracy of internal reporting and management information.
• Developed simple, effective and comprehensive in-house tailored industrial cost accounting module for the paper mill and successfully integrated with the automated accounting system.
• Implemented the first annual budget, leaded budget process with all departments and senior managements concluding in the presentation of a final budget approved by the board of directors. Implemented monthly forecasting of financial results versus the budget and advised required performance adjustments.
• Saved more than LE 17M through amicable solution of a dispute with sales tax authority regarding the basis of calculating annual production.
Reporting to CFO, directing the accounting function of the group, consolidating periodical and annual reports for the whole group activities.
Notable Achievements:
• Successfully implemented “Oracle” ERP system covering diversified types of activities including FMCG, Heavy equipments, IT, Maintenance, Workshop, Petroleum Services, Airlines and Shipping agencies.
• Coordinated with Unilever Arabia to implement Vendor Manage Inventory “VMI” module to control the entire supply chain from production to ultimate off-taker.
• Credited with the introduction of operating margin analysis by item, contributing to a reduction of inventory levels by 35% while increased profitability by 4%.
• Reduced working capital by 22% through concrete control of inventory, accounts receivables and inventory levels.
• Directed company in a plan to reduce monthly expenses resulted in saving more than $ 600K per year.
• Leaded a recovery team responsible for the revival of more than $ 17M of bad debts pertaining to the pre Iraq invasion of Kuwait period.
• Initiated a new stocktaking system that enabled the FMCG sector to continue receiving and delivering goods for 365 days a year and saved more than $ 1.5M were annually paid as penalties.
Reporting to CFO, directing the accounting function of the group, consolidating periodical and annual reports for all group activities.
Notable Achievements:
• Successfully implemented “Oracle Financials” automated accounting system.
• Developed simple, effective and comprehensive in-house tailored cost accounting module for the meat processing factory “KHAZAN”.
• Leaded the process of restoring the accounting function of the group in 1992 after the Iraq invasion of Kuwait in 1990 including booking 3 years transactions in less than 6 months.
• Prepared a complete file for UN claims covering group damages caused by Iraq invasion of Kuwait, successfully received claims of $ 79M.
Joined as Junior Accountant, promoted to accountant then to Chief Accountant reporting to CEO, exposed to all accounting and financial activities, practiced manual bookkeeping, controlled accounts payable and accounts receivables, general ledger and liaising with tax authorities.
Good 76%
