Director of Finance
SHIFT inc (Sila Development Company Limited)
Total years of experience :14 years, 6 Months
-Providing strategic recommendations to the CEO and members of the executive management team.
-Instrumental in creating & preparing Financial Annual plans and Operating & Financial Budget & all financial reporting.
-Successfully established the financial policies and authority matrix.
-Assisted in preparing the administrative policies manual, which had a substantial relationship to financial management.
-Coordinate with auditors.
-Conducted and preparing financial studies for new projects and developing investments strategies.
-Direct and oversee all aspects of the Finance & Accounting functions of the organization.
-Direct and oversee all aspects of back & front-end ERP Implementation within the organization.
-Developing external relationships bankers
-Dealing and negotiate with banks, regarding the bank facilities (Loans, LC’s, LG’s, … Etc.)
-Oversee, review, and adhere to the budgets for each business department
-Assist in company-wide budgetary planning.
-Ensure that all of the company's financial practices are in line in statutory regulations and legislation
-Prepare official reports on a monthly and annual basis
-Update and implement financial policies and procedures
-Maintain a policy manual for the finance department.
-Work with human resources employees to secure candidates who will be an asset to the finance department.
-Developing financial models.
-Assist CEO in preparing Strategic planning for the company.
-Prepare all supporting information for the annual audit and liaise with the Board's Audit Committee and the external auditors as necessary.
-Develop and maintain financial accounting systems for cash management, accounts payable, accounts receivable, credit control, and petty cash.
-Review monthly results and implement monthly variance reporting.
-Manage the cash flow and prepare cash flow forecasts in accordance with policy.
-Managing and Maintaining the Banks relationship.
- Ensuring that cash flows are adequate to allow business units to operate effectively.
- Creating solutions to new financial challenges by applying financial/treasury knowledge.
- Providing advice on financial matters impacting on the company as a whole
- Preparing financial reports.
- Arranging financial audits and reviews as required.
- Assist implementing Oracle Financial Application Enterprise Business Suite 12.1.3 R
- Analyze cash inflow, Revenue, and expenses by operating unit, location-wise, and territory wise.
- Supervise the Debit Balances and its collection cycle.
- Assist in implementing effective financial systems, controls, and processes
- Producing accurate financial reports to specific deadlines.
- Implementing the Authority Matrix.
Main Responsibilities
-Preparing the monthly reports for all Accounts contain full analysis for all transactions during the period and prepare the required reports by Corporate Office.
-Allocate All the Expenses on a differences basis ( Staff Cost Basis, Sales Basis, Cost of Sales Basis, Number of Employee Basis and Area Basis for all the set of books
-Preparing Financial Statements (Income Statement, Financial Position \[Balance Sheet\], Statement of Cash Flow, Capex Analysis Report, Variance Analysis Report between Budget and Actual Figures and note the remarks on the differences between actual and budget and discuss the reasons for this differences, Sales Analysis Report, COGS Analysis Report, Inventory Analysis Report-Aging Reports for the Goods-, Non Trading Analysis Report, and Suppliers Aging Report with its disclosures.
-Reconcile All account in each module with General Ledger (Like Account Receivable on AR Module with The linked Accounts On General Ledger, Account Payable on AP Module with The linked Accounts On General Ledger, Assets Registered On Fixed Assets module with The linked Accounts On General Ledger.
-Handling the relations with the banks, Property Owners, and Main Suppliers
-Analyze each single item of new projects cost and compare it with the budget and report variance analysis to senior management
-Develop and maintain internal control and effective accounting system and policies for the setup.
-Perform cash flow forecasting, budgeting and working closely with the operations and project teams in analyzing margins, variances and cost analysis.
Main Responsibilities
-Prepares journal entries like accrual expenses, & Amortization of prepaid expenses, Depreciation Entries and Adjusting Entries to close the financial periods.
-Auditing all the accounts (Revenue, A/R, A/P, Bank Account, Notes Payable, Expenses, & Taxes Payable……ECT).
-Prepare, Run, Pass, and Post the Depreciation Entry on monthly Basis for all the Set of Books
-Preparing monthly reconciliation for Related Party accounts.
-Using BOSS (Back Office Stock and Sales Systems to verify the data which has been interfaced to the Oracle Financial (APPS) for Sales and Stocks.
-Prepare Goods In Transit Reconciliation on monthly basis and pass the rectification entries for any interface variances and Currency Exchange Rate differences.
-Handling Related Party Accounts, Prepare IC Reconciliation on Monthly Basis, and Coordinate with the corporate office to clarify and get the supported documents for each transaction.
My Main Achievements
-Recruited and Trained 5 accountants on the Group operation and Oracle Financial
-Handled the External Audit during the year end and reduced the audit time to be 10 working days instead of 21 working days.
-Negotiated with the Bank to reduce the importing Fees from 4% to 1.8%, Also reduced the cashier order commission to be 2% of the total amount with maximum 200 EGP instead of 2% with maximum 400 EGP
-Reconcile The Fixed assets register with the actual owned assets (Physically)
-Reconcile The Non Trading Stocks with the physically owned Non Trading Goods
-Reconcile all the sub ledgers with the general ledger.
-Reconcile the Withholding tax forms with the accounting books and the payments.
Main Responsibilities
-Prepares journal entries like accrual expenses, & Amortization of prepaid expenses, Depreciation Entries and Adjusting Entries to close the financial periods.
-Auditing the Discount and check all the approvals to provide this discount.
-Auditing all Complementary Services (CPL)
-Preparing the Account Payable entries using FMIS (Financial Management Information System) and Oracle Applications.
-Preparing Bank, Cash, and Visa Reconciliation on a daily basis.
-Auditing Revenue (Cash & Credit) and do the reconciliation between physical documents and which is interfaced to the Oracle Financial (APPS) and Pass the correction entries.
My Main Achievements
-Reconcile the Cash on daily basis instead of once a month
-Review the Credit revenue and the supported documents on daily basis instead of once a month
-The effect of reviewing the credit revenue, the aging of the accounts receivable became no more than 90 days.
-Assist the Finance Manager to report the FY 2009’s Budget on the month of November 2008 and to close it within 8 days.
-Auditing all the accounts (Revenue, A/R, A/P, Bank Account, Notes Payable, Expenses, & Taxes Payable……ECT)
-Prepare&check the trial balance before submitting the Audit Financial Reports
-Prepare Final Financial Reports and its disclosures
Graduated from Faculty of Commerce Accounting Major Ain Shams University Year 2007.