Corporate Financial Controller
Solidere SAL
Total years of experience :26 years, 0 Months
• Responsible for all company accounting processes, cycles and functions.
• Manages / prepares periodically the separate and consolidated financial statements for Solidere and all its subsidiaries on a timely basis as required by the Capital Market Authorities (CMA).
• Manages the relationship with external auditors, oversees the planning and execution of semi-annual reviews and annual audits.
• Manages the relationship with Internal auditors.
• Responsible for proposing solutions to solve all weaknesses and risks stated in the management letters of the external or internal auditors, and manages proper adjustments and corrections as agreed with the management.
• Implement, document and maintain adequate and effective internal controls
• Follows up on tax matters and integrates them in the accounting cycle.
• Responsible of the credit assessment evaluation process performed semi-annually.
• Identifies opportunities to automate and streamline routine activities in an effort to run the organization more effectively as per the company policies.
• Cooperates closely with the MIS and all operational departments to maintain a healthy financial workflow cycle with adequate access control rights, to ensure validity and completeness of the management reporting.
• Keep up to date with the new emerging I.F.R.S. so that the accounting and business process issues are anticipated and addressed proactively.
• Serve as the company’s expert for all accounting matters, partnering with other departments (Legal, Sales, IT, and HR) on structuring policies, and advising with respect to accounting and tax implications.
• Create and implement short- and long-range departmental objectives, policies, and operating procedures.
• Recruit, train, supervise, and evaluate department staff members.
In charge of the preparation of the separate and Consolidated Financial Statements and Accompanying Notes semi annually and at year End.
In charge of the Design and implementation of a computerized Consolidation Process.
Interrelate with the external auditors and Solidere’s upper Management.
Preparation of other financial reports as per management needs.
Maintaining a list of all International Financial reporting standards (IFRS)' and assuring compliance.
Following up on all updates relating to IFRS and implementing appropriate changes.
Coordinating closely with the accounting division team to ensure compliance with IFRS.
In Charge of a group of 10 companies including the holding,
Understanding and defining the business environment and internal controls.
Understanding and defining the major business process and needs.
Understanding and defining the IT environment and system needs.
Designing the chart of accounts that reflects the business needs.
Designing the optimal structure for the accounting section with respect to the budget allocated for accounting staff cost.
Defining the Profile and job description of the accountants.
Assist in interviewing, screening and selecting the potential candidates.
Defining the IT system needs and modules needed.
Defining the access rights in the system modules for each team member to ensure maximum control assurance.
Implementing an optimal work flow with internal control activities.
Implementing the internal controls through written S.O.P. (standard operating procedures).
Defining the work flow within the accounting team and sections, in order to ensure optimal efficiency.
Designing and implementing the financial reports needed (daily, weekly, monthly quarterly, yearly and Consolidated ).
Periodical training for the accounting staff on the International accounting standards.
Periodical review and improvements over the automated reports to ensure validity and completeness of the management reporting.
Defining the work flow that liaise the accounting section with the remaining department, in order to ensure synergy and smooth cooperation.
Maintaining the designed processes and controls through periodic reviews and testing.
Ensuring that the reporting cycle is working properly and reports are being issued and reviewed on time.
Maximizing the cash flow performance of the Company, principally through the efficient management of working capital.
Budget preparation, analysis, and follow up on monthly basis.
Setting up a report calendar to make sure the MOF reports are being delivered on timely basis to avoid penalties.
Following up on tax matters and integrating them in the accounting cycle.
Preparing and conducting feasibility studies when requested by management.
Interrelate with the external auditors and Solidere’s upper Management.
Directs and supervises the activities of assigned personnel in the accounting and financial control department and performs activities related to accounting and financial control.
Provides information to Management and departments regarding budget and Capital expenditures.
Produces timely financial statements in compliance with the International standards.
Prepares the budget, develops and updates financial projections for the ongoing fiscal period.
Ensures accuracy and control in financial practices
Approves the payroll for all AUT full-time and part-time faculty, management and non-academic staff, casual workers, overtime, etc, and ensures that income tax and NSSF contributions and other fees are properly and correctly accounted for and deducted from the payroll.
Assists in Resolving complex problems with students and staff related to deferred payments, deductions from salary…etc. Refers more complex problems to higher management.
Reviews regularly and analyzes inactive accounts and recommends to Management solutions or write-off.
Enforces documents and establishes adequate controls for all revenues and expenses and protection of assets.
Implements proper policies and procedures between the Finance and other departments to ensure the completeness and validity of the financial data cycle.
Assumes managerial responsibility for the selection, recruitment and termination of employment of all accounting and finance personnel. Establishes and maintains effective employee relations
Supervises the financial and accounting operations of the Globe Med group ( i.e.: Globe Med Holding, Globe Med Invest, Globe Med Services, and Medsystems sal)
Ascertains that Globe Med prescribed financial and accounting procedures and standards are integrated and respected by all GlobeMed Operations ( i.e.: G-Syria, G-KSA, G-Kuwait, G-Qatar, G-Gulf, and MedNet Liban)
Periodically, monitors implementation progress and reviews capital investment proposals by various operations.
Participates in the formulation of the financial policies and procedures for all GlobeMed Operations.
Provides accurate and timely financial reports and forecasts.
Provides financial advice on the overall corporate financial position.
Coordinates and supervises all financial and accounting operations e.g. credits, expenditures, collection, sales, purchasing etc…
Ensures accuracy and control in financial practices.
Conducting reviews and evaluations for cost-reduction opportunities.
Ensure proper and healthy cash flow;
Develop budgets and forecasts as well as recommendations to improve cash flow.
Keeps current of all the new legislations, rules, and regulations set by government (Ministry of finance, Ministry of Labor).
Assists Senior Management in setting up an internal audit department with related audit procedures
Preparing companies financial statement analysis and periodic finance positions.
Design and implementation of the cost control function for small size companies .
Performs Audit on companies financial statements.
Advise on the preparation of annual budget .
Preparation of VAT and tax return for small to mid size companies.
Design appropriate accounting workflow at the client's
Develops and improve the performance of the accounting staff.
Develops cash flow reports
Corporate Financial Controller of Le Royal Hotels: Le Royal Amman, Le Royal Luxembourg, Le Royal Hammamet ( Tunis), Le Royal el Minzah ( Maroc ), Le Royal Beirut.
The Corporate structure was still in its early stage of conception.
In addition to managing Royal Beirut Finance dept, the primary duties were as follows:
Implementing proper policies and procedures among the Finance departments in all 5 locations, to ensure the completeness and validity of the financial data cycle.
Leading the restructuring of the financial platform of Le Royal Hotels chain, by implementing a unified chart of accounts, setting up a unified ERP system with appropriate controls, and developing unified P&P’s and financial statements
Providing a commercial and financial input to the formulation of operational strategies and action plans.
Managing all members of the accounting department. ( 22 staff )
Interacting with other Department Heads to ensure that optimum levels of financial and operational control are achieved throughout the hotel
Interaction with hotel’s insurance agents, legal counsel, commercial and government bankers, auditors, tax advisors, Owning Company finance representatives and corporate finance and accounting departments, external customers and suppliers.
Providing functional instruction and guidance for control functions not necessarily under my direct management .
Maximizing the cash flow performance of the hotel, principally through the efficient management of working capital
Enforcing, documents and establishing adequate controls for all revenues and expenses and protection of assets
Maintaining accurate and timely financial and operating information and providing business analyses, interpretations and projections to management as and when required
Providing safekeeping, including proper storage and access for all contracts, leases and other financial records
Budget preparation, analysis, and follow up on monthly basis.
Implementing proper policies and procedures between the Finance and other departments to ensure the completeness and validity of the financial data cycle.
Leading the team assigned to restructure the financial platform of Le Royal Hotels chain.
In charge of the audit engagements in the following industries:
o Banking industry : Arab Bank plc.
o Hospitality industry : Intercontinental Phoenicia, Intercontinental Vendome, Monroe Hotel, Markaziyah Monroe Suites, Sea Rock Hotel, Al Bustan Hotel, Sheraton Coral beach, and Le Royal Hotel.
o Non for profit Organization: St Joseph University
o Small Service / manufacturing industries.: Berytech s.c.a.l., Sodap.
o Others : Izzat al Daouk Co. - Casino Du Liban -
Work Performed :
o Planning the audit engagements
o Assessment of engagement risks and control environment .
o Testing the Internal controls, Business Cycles, general computer controls and the design and implementation of control objectives and control activities.
o Performing substantive and analytical tests.
o Discussing findings with top management.
o Isuing the audit Report, Management’s letter of recommendation.
Managing team members, training junior staff and coordinating with upper management
Preparation of the monthly Financial statements .
Dealing with the Banks .
Cost controller over some operational departments.
Implementation of some control procedures .
In charge of the clients accounting work .
Preparation of the yearly Financial statements.
Training client’s staff .
