Finance Business Partner ( controller )
Philips Lighting Saudi Arabia
مجموع سنوات الخبرة :24 years, 1 أشهر
Joined the organization as Group Senior Finance Manager, moved on upward career trajectories, to merit promotion to the position of Finance Business Partner.
Designation Chronology:
• 2017 - Present: Finance Business Partner.
• 2013 - 2017: Group Senior Finance Manager
Key Responsibilities:
• Working alongside the CEO, co-driving business- planning and executing the company’s ambitious growth plan and achieving company goals.
• Proven track record of achieving top line & profitability growth and business partnership with sales, marketing and business teams to improve margin.
• Partnering with Operation Director to build industrials strategic plans, delivering value through rigorous cost management. Providing strategic advice on commercial allocation of scarce capital resources under prudential constraints.
• Responsible for the overall management reporting, MIS, financial planning & budgeting, variance analysis for the entire region.
• Reviewing slow move items and driving actions plans with salesmen, PO management, sales service team to liquidate slow move items.
• Reviewing stock provision report and redesign the process to stop stock increase. Establishing procedure for stock cycle count and review root cause analyses and take corrective action.
• Scrap Committee Member, reviewing and approving scrap quotations.
• Reviewing transfer price and approving it for joint venture sales as inter companies.
• Supporting business through insight & challenge- collating operation & manufacturing monthly reports and evaluating result with budget/forecast to make full analysis for management.
• Creating and cascading annual operating plan (AOP) and forecast for operation and manufacturing based on sales budget.
• Benchmarking main manufacturing items with market and analyzing between manufacturing cost and purchase cost to know the visibility study of localization.
• Analysis expert - reviewing margin with market and sales team, purchase price variances as well landed cost variances to take corrective action to improve it.
• Providing budgeting and forecasting support to Manufacturing, Operations, Sales, Supply Chain, and New Product Development.
• Developing presentation for quarterly board meetings for operation result, stock provision, stock value, slow move items, net inventory, MAT percentage.
• Review calculating ICOS and sales transfer price TP for export sales between JV branches as per JV pricing policy.
• Refurbishing supply chain process to stop increase stock and provision.
• Ownership of the Management Reporting pack of financial and performance data, including comparison of actual results against budget and prior periods, together with comments, revenue recognition and KPIs. Driving the actions with management for inventory, operation, sell & operation expenses, P&L, margin, and balance sheet.
• Working in collaboration with internal and external Auditors, providing financial/ accounting information and addressing queries raised by Auditors.
In 2014 Philips purchased GLC and became JV, General Lighting Company is mother company for 3 famous and big companies in local and foreign market:
1- Saudi Lighting Company
2- Nardeen Lighting Company
3- Inara Lighting Company
And the companies have branches in: Dubai and Egypt.
• Supported and drove JV implementation.
• Instrumental in rebuilding the policies and procedures for accounts department.
Key Responsibilities:
• Directed the finance, accounting and control functions, managed the day-to-day accounting processes, and reported the results of manufacturing operations.
• Developed a controlled and stable financial environment that delivers accurate, timely, compliant reports in accordance with international and local accounting standards.
• Financial oversight and responsibility for reconciliation of inter company, established budget and discussed the sales figures, cost of sales figures and other expenses in P&L
• Monitored and controlled sales expenses, CAPEX and OPEX. Evaluated Actual vs. Budget and recommended arrangements to close gaps.
• Initiated and led analysis of financial performance on key business metrics and report financial highlights to CFO and CEO.
• Produced monthly & quarterly results/ financial statements within deadlines & drive performance improvement through development & delivery of robust/ insightful analysis & action plan.
• Collated monthly reports for accounts payable, accounts receivable, treasury and cash, review the DSO and DPO, consolidate financial reports for group.
• Led AP Manager to increase credit from vendors and AR Manager to reduce credit to customer and increase collection.
• Supported Cost Manager to control inventory, operation variances, provision, slow move items machine rate, items cost, improve margin.
• Superintended the Accounting team. Promoted a culture of high performance, continuous improvement, and exceptional team support that values learning and a commitment to quality.
Accomplishments:
• Played a key role in driving & implementing significant payment process efficiency improvements.
• Supported implementation of new ERP system SAP
• Promoted the use of SAP and new software solutions to support efficiency of invoice processing. As well as reduce paper and cost through automated process in finance department.
Key Responsibilities:
• Followed and enforced expenses and payables policies, billing and payment procedures in a manner that is in the best interest of the company’s standard practices.
• Approved advance payment and enhanced advance payment procedure to make payments more secure and make control for it.
• Led the team in achieving an increased level of efficiency, turnaround times, and meeting internal and external stakeholder payment expectations.
• Authorized to sign all cheques and telex transfers as per company limited for the division.
• Handled vendors reconciliations, checked and approved all payment voucher for petty cash and approve booking entries to correct expenses accounts.
• Established accounts payable procedure and secured approval from CFO.
• Supervised preparation of financial statements / monthly management reports, ensured integrity of net revenue and balance sheet account balances.
• Drove compliance within a robust control framework shared in preparing balance sheet by making accounts payable reports.
• Certified Financial Consultant, Riyadh (2013)