Finance Manager
Stevin Rock LLC & Group Cos.
مجموع سنوات الخبرة :19 years, 7 أشهر
Stevin Rock Group is one of the largest quarrying companies in the world. The Company has been operating since 1975 in the Emirate of Ras Al Khaimah, UAE, with a current production capacity from four sites of over 80 million tons per year of limestone, dolomite and gabbro for the construction industry as well as for the cement, steel and mining industries. Other lines of business are concrete & ready mix, mining explosive & laboratory testing Services. It’s come under IDO, RAK
• Responsible for production of the monthly, quarterly and annual consolidated financial statements for all Group companies as per IFRS according to internal and external requirements.
• Preparation of internal financial statements and results (Flash & MMR) presentations for discussion with management, with appropriate metrics, KPI's and variance analyses to facilitate understanding and decision making
• Responsibility for Credit Control, monitoring accounts receivable and accounts payable, and follow up on late payments.
• Provide internal technical advice on accounting issues for Group businesses and maintain Group accounting policies.
• Review and monitor the preparation and distribution of the annual budget package containing all financial information and budget guidelines to all business units to assist them in preparing their financial budgets.
• Implemented new financial processes and procedures, including preparing annual operating, capital, and manpower budget, ensuring that budget preparation is within time forecast and ensuring they meet cost and profitability targets whilst being realistic and achievable.
• Manage and review budgets to ensure the soundness of the assumptions, accuracy of the calculations of profitability generated from the business, the logic of justifications, and proper segregation of operating, capital, manpower
• Reviewed and monitored the operation of all budgets, prepared a periodic analysis of the budget and variances, and obtained from the Department Head justification for the variances for presentation to management.
• Oversee and provide detailed analysis related to economic factors, company performance, future scenarios, feasibility studies etc., to support the strategic and growth initiatives in order to help in better decision making of stakeholders.
• Provide analysis of revenue drivers and product margin, in addition to benchmarking and competitor performance analysis, to facilitate management for better decision making.
• Monitor and participate in the preparation of management reports, including initiation and development of various reports and analysis for management decision-making on an ad-hoc basis and for internal Departments and internal & external stakeholders.
• Responsible for financial systems improvements across the Group, including ERP systems, reporting systems, budget systems, and further automation of existing manual processes.
• Liaison with banks and other lenders over day-to-day banking operations, testing financial covenant metrics, and generally monitoring the Group cashflows.
• Coordinated with external and internal auditors in performing auditor's duties.
• Setup the budget and planning function from scratch, introducing new budget processes and guidelines and implementing new SOPs and guidelines relating to budget, quarterly forecasts, five-year plan, payables and receivables.
• An expert on accounting ERP systems, I project managed the implementation of multiple Oracle (Hyperion) modules, including finance, planning & forecasting, and projects planning.
• Implemented new financial processes and procedures, including the preparation of annual operating, capital, and manpower budget, ensuring that budget preparation is within time forecast.
• Conducted meetings with Division Managers and Department Heads for discussing their budget proposals, with emphasis on the soundness of the assumptions, accuracy of the calculations, the logic of justifications and proper segregation of operating/extraordinary maintenance/major maintenance/capital budgets.
• Reviewed and monitored the operation of all budgets, prepared a periodic analysis of the budget and variances, and obtained from Department Head/Program Chairs justification for the variances for presentation to management.
• Conducted preparation of management reports including initiation and development of various report and analysis for management’s use as well as special reports requested by internal Departments, stakeholders (ADNOC) & Government Authorities (Ministry of Education, CHEDS, AD Statistics Dept., Accreditation Authorities)
• Produced and presented financial information to senior management, Finance Committee and Board of Directors on specific deadlines.
• Involved in preparation and finalisation of 5-year business plan for the organisation.
• Oversaw the preparation of financial statements, i.e. Income Statement, Balance Sheet and Cash Flow Statements as well as supervising accounts staff for accurate preparation of Ledgers, Trial Balance, Income Statement, Balance Sheet, Daily Liquidity Statements and Payroll.
• Supervised Accounts Receivables & Accounts Payables, creating provisions for bad debts and ageing of accounts for the smooth operation of the accounts system as well as developing and improving the Chart of Accounts.
• Developed and updated Delegation of Authority and contributed to the preparation of Manual of Accounting for The Petroleum Institute.
• Played an instrumental role in pre- and post-merger planning and implementation.
• Coordinated with external and internal auditors in performing auditor’s duties.
• Reviewed, prepared and finalised internal and sponsored research projects.
• Set up the finance function from scratch, developing the Chart of Accounts, establishing the new budget process and guidelines, developing new management reports, implementing financial processes, policies and procedures to ensure smooth functioning of the finance department.
• Managed cross-functional CANIAS ERP implementation, including the implementation of all ERP modules (Purchasing, Sales, Financial, Budgeting, CRM, Stock Management, Human Resources) as well as managing the full automation and barcoding of stock of 10, 000 products (100% stock take of store items consisting of 10, 000 products.).
• Provided leadership for the finance function, setting a direction for up to 18 direct and indirect reports for the management of accounting and reporting activities of four company entities.
• Maintained executive responsibility for financial operations, including working capital expenditures, debt levels, budget and general accounting.
• Produced and presented financial information to senior management and Board of Directors on specific deadlines (daily and monthly) and produced consolidated (4 companies) financial statements for management. Provided analysis and interpretation of financial data in order to recommend changes to improve systems and financial performance.
• Prepared yearly budgets by analyses of the past five years and the current market trend. Directed budget and conducted reviews and evaluations for cost-reduction opportunities including costing and variance analysis for better product pricing
• Supervised preparation of consolidated financial statements, i.e. Income Statement and Balance Sheet and Cash Flow Statements as well as supervising accounts staff for accurate preparation of Ledgers, Trial Balance, Income Statement, Balance Sheet, Daily Liquidity Statements and Payroll Statements.
• Oversaw Accounts Receivable & Accounts Payable, creating provisions for bad debts and ageing of accounts for the smooth operation of the accounts system.
• Established and maintained stable cash flow management policies and procedures and ensured cash resources were available for daily operations and business development. Provided and interpreted financial information; monitoring and interpreting cash flows and predicting future trends.
• Developed and maintained external relationships with appropriate contacts, e.g. auditors, solicitors, bankers, vendor and customers. Dealt directly with banks as needed for facility management and financing requirements.
• Advised a range of clients on various corporate and financial matters including the preparation of financial statements in accordance with IFRS, US GAAP and other regulatory frameworks.
• Reporting to the engagement partner, I supervised and reviewed assignments given to audit staff and documented the audit strategy and plan. Drafted reports on weaknesses in Internal Control and Compliance and made recommendations.
• Conducted implementation of Audit Plan and resolve problems encountered. Reviewed client Accounting and Internal Control System to assess Audit Risks.
• Prepared financial statements in accordance with IFRS, US GAAP and other regulatory frameworks.
• Advised clients on audit, internal controls and compliance matters, creating detailed audit strategies and plans and advising on the implementation of the same.