Deputy Manager - Group Financial Planning and Analysis Department
Gulf Insurance Group
Total years of experience :16 years, 10 Months
leading the group financial planning and analysis at gulf insurance group gig
leading the group financial planning and analysis at gulf insurance group gig
• Prepares GIG's consolidated management accounts and thus works collaboratively from Kuwait with GIG group companies' financial departments and external auditors if needed to prepare GIG's consolidated financial statements over the closures periods.
• Conducts and documents complex financial analysis in terms of actual & projected targets' performance, prepares commentary reports/executive management reports as needed with recommendation to demonstrate on the usefulness/concerns of target opportunity.
• Conducting financial due diligence procedures, evaluating new business opportunities and monitoring M&A, as part of in-depth financial analysis.
• Prepares GIG consolidated Budget, LRP and quarterly rolling forecast, and reviews the standalone budget & plans for each company in the group.
• Works on unifying the reporting lines, accounting/reporting principles that are in use within GIG's Group companies under the instructions/supervision of GIG's Regional Operations Manager.
• Prepares a study analysis of trends in insurance industry/markets in the MENA region that covers insurance market volumes in terms of productivity, profitability, insurance penetration & insurance density and general business conditions, indicators and other areas that may be required.
• Monitors and keeps updating the regulatory requirements and accounting/reporting principles in the countries that GIG operates.
• Performs economic research and prepares any relevant needed bench-marking analysis reports.
• Prepares assessment reports and/or any other relevant reports that might be utilized on the strategic targets.
• Any other assignments may be assigned by the Regional Operations Manager, or the Group CEO if required
• Complete responsibility of the Financial Planning & Analysis function along with participation in regional finance projects along with the below mentioned tasks.
• Prepare the following reports periodically and the required narratives & recommended actions of the results:
- Monthly production report: This represents a summarization of lines of business productivity.
- Monthly estimate analysis: Which is a commentary on the financial results of the whole Co. and detailed by each line of business & distribution channels, also it contains the expense & profit ratio trends, & investments trends.
- Monthly Quick Report: This is a pure business analysis report, which contains both financial results analysis & business projects & initiatives F/U.
- Monthly expenses analysis.
- Quarterly Business Report: which is similar to monthly estimates analysis but on a quarterly basis with more extensive analysis.
• Perform any required analysis to all Co. profit center managers, CFO, COO and CEO regarding the business results and any future trends to any line of business or to the whole company.
• Prepare annual budget and any perform any required adjustments throughout different submitting dates to the budget.
• Responsible for communication with different stakeholders & profit centers managers in the budgeting process, communicating with senior management & regional office regarding the findings of the top line results & perform the required analysis & actions regarding the budget.
• Perform modeling and business plans for different Co. units and profit centers as per senior management request.
• Analyze financial information to produce forecasts of business, industry, and economic conditions for use in making decisions.
• Assemble spreadsheets and draw charts and graphs used to illustrate technical reports, using computer.
• Interpret data affecting business results, such as benefit & loss ratios, stability of future trends in investment risks, and economic influences.
• Monitor fundamental economic, industrial, and corporate developments through the analysis of information obtained from financial publications and services, investment banking firms, government agencies, trade publications, company sources, and personal interviews.
• Advanced excel instructor in In-House Development & Training team in MetLife-Alico Egypt, which aims at raising the quality & efficiency of MetLife-Alico Egypt staff
• Participated in designing investment strategy for the new pension system in Egypt through being member in investment committee and supervised preparing report about the best practices in managing pension funds' assets including asset allocation strategy.
• Explaining complex technical matters related to new pension system to steering committee members, government officials, shareholders, policyholders, or the public.
• Research and analyze laws, regulations, policies, and investment policies worldwide in order to benefit from the best practices in designing government policy or law.
• Analyze credit data and financial statements to determine the degree of risk involved in the companies and authorities under examination.
• Study economic and statistical data in area of specialization, such as finance, labor, or social security.
• Head of Technical Secretariats of all new pension law committees beginning from 2008 till the admittance of the new law by the parliament in 2010 and designing the executive regulations.
• Head of Technical Secretariat of Steering committee for pension reform and implementation of the new pension system.
• Devised a study projecting the financial effects of implementing the new pension system to the treasury starting from year 2010 till 2070.
• Assemble spreadsheets and draw charts and graphs used to illustrate technical reports, using computer.
• Design, review and help administer insurance, annuity and pension plans for private pension funds, and determining financial soundness for those funds.
• Supervision of many research projects.
• Performing researches related to pension's funds merger and designing and implementing modernization of pension funds all over the world.
• Produce written summaries of research results.
• Interpret results of analytical procedures.
• Team leader of organizing Arab social solidarity conference which held on December 2009 - Sharm El sheikh - Egypt
• Responsible for sales of insurance policies to businesses and individuals in Commercial International Bank (CIB) sinai zone branches.
• Interview clients to determine their current income, expenses, insurance coverage, tax status, financial objectives, risk tolerance, and other information needed to develop an insurance policy with appropriate financial plan.
• Implement financial planning recommendations, or refer clients to someone who can assist them with plan implementation.
• Analyze financial information obtained from clients to determine strategies for meeting clients' financial objectives.
• Answer clients' questions about the purposes and details of financial plans and strategies.
• Ensure that policy requirements are fulfilled, including any necessary medical examinations and the completion of appropriate forms.
• Customize insurance programs to suit individual customers, often covering a variety of risks.
• Review clients' accounts and plans regularly to determine whether life changes, economic changes, or financial performance indicate a need for plan reassessment.
• Attend meetings, seminars and programs to learn about new products and services, learn new skills, and receive technical assistance in developing new accounts.
• Interview prospective clients to obtain data about their financial resources and needs, the physical condition of the person or property to be insured, and to discuss any existing coverage.
• Monitor financial market trends to ensure that plans are effective, and to identify any necessary updates.
• Perform administrative tasks, such as maintaining records and handling policy renewals.
• Analyze target companies and investment opportunities to inform investment decisions.
• Make bids and offers to buy or sell securities.
• Agree on buying or selling prices at optimal levels for clients.
• Monitor markets and positions.
• Process paperwork for special orders, including margin and option purchases.
• Prepare financial reports, such as reviews of portfolio positions.
Financial Modelling and Valuation Analyst Designation “FMVA” from Corporate Finance Institute
• List of Exemptions: - CT1 Financial mathematics. - CT2 Finance and financial reporting. - CT3 Probability and statistical mathematics.