Vice President Finance & Group CFO
Atheeb Group
Total years of experience :27 years, 2 Months
Involved and responsible for directing and overseeing all but not limited to following key activities for all KSA and Off-Shore group companies:
Part of the executive team for strategic decisions having financial impact.
Represent Atheeb Group as Board Member for some national and international affiliates and subsidiaries.
Represent Atheeb Group as Audit Committee member for some group companies.
Financing arrangement, negotiation and restructuring for group companies
Projects bids and proposals
New business appraisal and evaluation
All accounting, taxation, treasury, financial analysis, budgeting, financial planning and reporting activities
Statutory compliance.
Development and enhancement of policies and procedures and ensuring compliance
Compliance to US FAR regulations, IFRS and SOCPA standards
Company:
MPC is a multi-billion dollar Ma’aden and SABIC partnership company, operating world’s largest phosphate complex comprising five high-tech production plants, two utilities plants, a seaport and various common support facilities.
Responsibilities:
As a head of the department, I am responsible for overall functionality and management of the finance department, comprising following major activities:
Finance department organization structure.
Financial policies and procedures.
Department’s objectives and KPIs.
Internal control monitoring and improvements.
Financial risk analysis and management.
Short and long-term cash flow planning, loan management and daily treasury operation.
Project and operational accounts payable.
Accounts Receivable.
Fixed Assets accounting.
Inventory Accounting.
Maintaining of general ledger.
Short and long-term budgeting and forecasting, annual and five years business plan.
Quarterly and annual audited financial statements in compliance with IFRS and SOCPA standards.
Financial Analysis.
Product costing.
Project and investment cost monitoring and updates.
Handling all matters related to external, internal, lenders and government audits and ensuring compliance.
Project and operational insurance.
Zakat and tax matters.
Training and development of fresh Saudi staff.
Company:
JUPC is operating a complex of five most advanced petrochemical plants and is an affiliate of SABIC that is one of the largest petrochemical producers and exporters in the world.
Responsibilities:
My prime responsibilities included but not limited to all internal and external financials and management reporting, budgeting & forecasting and financial analysis, as per following synopsis:
Annual Business Plan and monthly forecasts for all five plants considering various operating scenarios.
Financial planning and cash flow projection.
Monthly, quarterly and annual executive reports for board of directors/lenders.
Development of Excel based financial models as and when required.
Product costing on standard cost basis.
Ensuring correctness and segregation of financial activities, accounting and reporting during three phases of plants' activities that are project mode, pre-commercial operation and commercial operation.
Support management with cost vs. benefit analysis, breakeven analysis, profitability analysis, financial ratios and various other financial analysis, schedule, reports and presentations, required for decision-making purposes on routine basis.
Ensuring compliance and improvement of policies, procedures and processes based on business requirements.
Co-ordinate and liaise with external, internal and government auditors and response to audit observations.
Supervision and review of sub-ordinate staff in a multinational environment.
My duties and responsibilities were diverse and were included but not limited to the following:
Preparation of projects’ bids & proposals for submission to US Defense Department.
Participation in negotiating contracts with US Defense Department.
Overhead cost calculation, scrutinizing and submission to Defense Contracts Audit Agency-USA (DCAA).
Liaison with DCAA auditors and responding their audit related and routine queries regarding funding, billing and project status.
Monthly contractual billing to United States Defense Department meeting all contractual requirements.
Financial planning, cash flow projection, daily monitoring of cash and bank position and project financing.
Monitoring and control of contract funding and costs at different work levels.
Monthly and annual package of financial statements and management reports.
Profit & loss annual budget, periodical forecasts and budget variance analysis.
Supporting management by various analyses, comparisons, schedules and other reports required on routine basis for decision-making purposes.
Graphical presentation of company’s monthly and YTD operations.
Supervision for monthly payroll and accounts payable.
Ensuring booking of all transactions on a timely basis in conformity with company policies and according to generally accepted accounting principles.
Liaison with external auditors.
Monthly and annual financial statements
Four-monthly forecasts and annual budget and budget variance analysis reporting.
Monthly and annual cash flow forecasts.
Graphical presentation of company’s monthly and YTD operations.
Supervision of Accounts Payable, consisting over 1200 suppliers worldwide.
Supervision for complete accounting of Fixed Assets Control System, having more than 2000 fixed assets.
Supervision for complete accounting of Inventory Control System, consisting four different store types at two locations with thousands of articles.
Complete accounting and administration of Vehicle Insurance Systems having hundreds of vehicles, and day-to-day dealing with insurance company.
Complete accounting and follow-up for Capital Work-in-Progress and monitoring fixed assets investment budget.
Ensuring booking of all transactions on a timely basis in conformity with company policies and according to generally accepted accounting principles.
Ensuring implementation of company policies and procedures on finance related issues.
Involved in internal controls monitoring and improvements.
Liaison with internal and external auditors and ensuring implementation of their recommendations.
Co-ordination with Personnel, Procurement, Stores, Plant & Service, Construction, Technical and other related departments for smooth running of project’s accounting cycle.
Supervision and review of sub-ordinate staff in a multinational environment.
FCMA - Fellow member of Institute of Cost & Management Accountants of Pakistan.
Bachelor of Commerce