Business Finance Manager
Ali Alghanim Educational Holding Co.
مجموع سنوات الخبرة :17 years, 1 أشهر
• Applied knowledge of business and marketplace to advance organizations goals.
• Implemented new systems to improve efficiency within the finance function.
• Developed and maintained necessary systems and accounting processes and controls.
• Successfully integrated the company onto Oracle Fusion from the previous software.
• Cleared the backlog of over 6 months of unreconciled and unaccounted invoices, bank entries, petty cash transactions, fixed asset transactions and receivable transactions.
• Conducted detailed analysis of current accounting systems to ensure accuracy of data entry and integrity of information.
• Managed a team of finance professionals responsible for accounting operations including payroll processing, accounts receivable and payable, bank reconciliations.
• Created tools and templates used by finance team members during month end close process.
• Generated weekly/monthly financial reports and presented them to senior management.
• Conducted regular reviews of accounts receivable and payable processes to identify areas for improvement.
• Coordinated with external vendors to ensure timely payments of invoices.
• Developed and implemented financial management strategies to optimize cash flow, reduce costs, and increase profits.
• Led the development of annual budgets and quarterly forecasts in collaboration with department heads.
• Prepared detailed financial statements and presentations for board meetings.
• Prepared presentations outlining key financial metrics for executive leadership team.
• Developed and monitored yearly budgets for multiple departments.
• Collaborated with departments heads and division managers to understand operations and identify areas requiring additional attention or action.
• Provided guidance to departmental managers on best practices in financial management.
• Recruited staff members and oversaw training programs.
• Directed insurance negotiations, selected insurance brokers or carriers, and placed insurance.
• Submitted delinquent accounts to Ministry of Education and outside
agencies.
• Managed relationships with banks and external stakeholders such as auditors, tax advisors, lawyers to ensure timely completion of all required activities.
• Advising on investment activities and provide strategies that the company should take.
• Created a franchise model for the business including a business plan and developed a pricing and cost structure for the franchisee to replicate in their business.
• Analyzed market trends to maximize profits and find expansion opportunities.
• Executed vendor setup and payment, administration of bank accounts and account reconciliations
• Identified partnership opportunities and established favorable business connections
• Gained experience throughout the entire process of sales from prospecting to closing, as well as customer retention.
• Analyzed costs, pricing, variable contributions, sales results and the companys actual performance compared to the business plans.
• Analyzed financial data to identify trends and inform business decisions.
• Assisted in external audit preparation by providing requested documents in a timely manner.
• Managed day-to-day financial operations, including accounts receivable and payable, budgeting, forecasting, cash flow management and reporting.
• Reviewed financial statements on a regular basis for accuracy and completeness of data.
• Prepared annual budgets for review by senior leadership team.
▪ Integrated P&L goal driven results by initiating SOPs: including purchasing, inventory control and accounts payable systems.
▪ Performing numerical analysis of data and formulating conclusions and/or solutions.
▪ Worked closely with owners to focus on best practices to provide the best possible work environment and foster growth.
▪ Maintained banking relationships and negotiating loans with Kuwait National Fund and merchant services for business units.
▪ Ensures all new hire paperwork, benefits, performance appraisals, disciplinary action forms and other pertinent personnel documents are filed appropriately and maintained in accordance with the company HR practices.
▪ Preparing and presenting financial reports for meetings and investors.
▪ Providing direction and training to operational team in areas related to finance, financial reports, internal controls, staff management, payroll, etc.
▪ Implemented cost savings procedures for the brand reducing the cost of food by 8% in two months.
▪ Trained coached and mentored staff to ensure smooth adoption of new programs as well as old.
▪ Negotiated favorable payment terms with vendors when necessary.
▪ Created periodic reports for executive review of financial performance metrics.
▪ Set prices and credit terms for goods and services, based on forecasts of customer demand.
• Identified operational processes inefficiencies and recommended necessary improvements.
• Streamlined and helped in the integration of Middle East level finance operation of finance and HR processes from individual locations over 6 countries to a regional level operation for GE Oil & Gas.
• Worked closely with senior management to establish budgets and assess projected needs of the company based on growth projections.
• Provided financial support and analysis to Operations and Marketing areas for strategic business decisions and cost savings initiatives.
• Analyzed utilization and capacity against performance goals.
• Audited internal financial processes on a quarterly basis; Facilitated month end close processes, invoicing, journal entries and account reconciliations.
• Prepared presentations summarizing findings from various analyses for executive level audiences.
• Analyzed legal documents and corporate contracts to negotiate with banks, insurance companies and contract owners on behalf of the business.
• Facilitated the tax filing of the Oil & Gas Middle East Division on an annual basis together with the external auditors reducing their tax obligation in Kuwait.
• Ensured compliance with applicable regulations through periodic audits of internal processes.
• Analyzed key aspects of business to evaluate factors driving results and summarized into presentations.
• Produced monthly reports on system performance metrics for senior management review.
• Managed project budgets, expenditures, procurements, and projections.
• Coached junior team members in best practices related to business analysis techniques.
• Assessed business requirements to forecast annual budgetary operational costs.
• Utilized strong interpersonal and communications skills to serve customer (KOC).
• Assigned tasks to associates, staffed projects, and updated involved parties to enhance optimal business flow.
• Oversaw and managed timely and accurate preparation of annual tax returns and compliance with state regulations.
• Developed in-depth knowledge of client business and industry through direct interaction while working on various aspects of engagement.
• Performing tax-based audits, risk analysis of processes and evaluation of internal controls Identifying, analyzing opportunities to minimize tax burden on clients by performing accurate research and planning.
• Identified impactful regulations and incorporated changes to comply
with new requirements.
• Researched and analyzed specialized tax laws, rules and regulations and analyze pertinent client, industry, and technical matters to remain current on tax legislation.
• Participated in planning meetings with clients to discuss engagement objectives and develop overall plan for completion of audit engagements.
• Demonstrated strong problem-solving skills by identifying discrepancies between actual results versus expected results during audits.
• Conducted risk assessments to identify potential areas of weakness in organizations internal controls.
• Successfully managing audit teams on jobs of all the key and diverse portfolio of the tax department by managing over 120 clients in a year.
• Taught junior staff how to prepare statements, resolve discrepancies and maximize efficiency.
• Developing relationships with key personnel in the Ministry of Finance, to negotiate & ensure maximum tax relief to the clients.
• Responded promptly to official tax notices requiring clarifications and additional submissions.
• Facilitated communication between clients and tax authorities.
• Involved in financial reporting, risk management, compliance & integration.
courses: Financial Accounting, Management Accounting, Economics
LANGUAGES •English (Excellent); •Arabic (Fair