Louay Khraim

• Monitoring and reviewing financial controls, processes and procedures to enable best practice development.
• Developing thorough forecasting and cash-flow management processes to maximize progression and profitability.
• Managing budgets/ Business plans, analyzing financial data, preparing financial reports, and providing strategic financial guidance to higher management.
• Producing financial reports related to account payables, account receivables, expenses etc. Developing long-term business plans based on these reports.
• Managing, execution, sharing and reviewing of all financial documents and tested quarterly or annual reports in cooperation with external auditors.
• Involving in digital transformation projects of Finance department.
• Managing finance team of + 50 employees.

• Financial controller, May 2014 - present .

My responsibilities include;

1- Plant controller (LED Lamps factory):

o Preparing and presenting yearly business plan (includes the financial budget, development plans, manpower plans and etc..).
o Preparing and analyzing monthly reports of variances and deviations (Sales, P&L, Variance analysis, Productivity, Efficiency, Headcount Monitoring, Chances & Risks ).
o Presenting monthly outcomes, budget variances to the executive management and Headquarter with recommending and taking a corrective action.


2- Period-end closing as follows;

o Settling and analyzing service, internal, combined and production orders.
o Monthly calculating and settling Overhead, WIP and variances with results analysis for 8 factories.
o Monthly running of allocation and distribution cycle for 8 factories.
o Reviewing and creating allocation bases for many activities (Activity-based costing).
o Acting as a head for all stock-taking committees of the company.


3- Preparing financial statements ; ( Centralized controlling ):

o Consolidated cash flow for 8 factories.
o Comparing the budgeted disbursements and collections to actual each month and reporting on significant variances.
o Preparing annual Balance sheet & Income statements for the whole organization.
o Presenting analyzed financial statements reports to top management.

4- Cost controlling for services activities in the company; catering, transportation and housing;

o Coordinating with the services activities to build the Budget/Forecast.
o Monthly Reporting implementation (per department, apartment, resident in an apartment, meal and etc.).
o Variance Analysis and corrective actions recommendation.
o Presenting the periodic reports to the executive management.
o Managing Provisions (monthly estimation based on updated scenarios) .
o Preparing forecasts and cost trend reports and comparing them for further planning .
o Performing inventory controls and sell unwanted goods ( for catering and housing ) through auction for extra revenue .
o Guiding other departments by researching and interpreting accounting policy; applying observations and recommendations to operational issues.
o Preparing & analyzing profitability reports for service departments, aiming to support management critical decisions.

5- Others;

o Managing materials inventory, checking & analyzing materials variances.
o Creating policies & procedures for periodic inventory counting.
o Checking, releasing & updating standard costs for all Items (including calculating RM and conversion costs ) .
o Controlling on goods movement at all their stages through SAP system .

• Senior at G/L Accounts, Oct 2008 - May 2014 .

My responsibilities include;

6- Preparing bank reconciliations and reconciliations with subsidiaries.

7- Reviewing letter of credits with full responsibility to follow up with the treasury .

8- Asset controlling including;

o Creating and monitoring a system of controls, procedures, and forms for the recordation of fixed assets.
o Recommending to management any updates to accounting policies related to fixed assets.
o Tracking the compilation of project costs into fixed asset accounts, and close out those accounts once the related projects have been completed.
o Reviewing and update the detailed schedule of fixed assets and accumulated depreciation.
o Investigating the potential obsolescence of fixed assets.
o Conducting periodic physical inventory counts of fixed assets.
o Representing the company during any audits by a governmental entity or external audit that involve fixed assets.

9- Capex Management / Budget controlling;

o Reviewing proposed budget submissions from department managers for accuracy and completeness.
o Examining capital budget requests and issue recommendations to the approval committee.
o Coordinating capital budgeting approvals.
o Propagating the approved budget throughout the organization and explaining issues as requested.
o Comparing actual to budgeted results at the end of each reporting period, and reporting on significant variances.
o Maintaining the budgeting policies and procedures manual.

10- Preparing cash flow statement ; ( Centralized controlling ):

o Consolidated cash flow for 8 factories.
o Comparing the budgeted disbursements and collections to actual each month and reporting on significant variances.

11- Other; ( Centralized controlling ):

o Preparing annual Balance sheet & Income statements for the whole organization.
o Presenting analyzed financial statements reports to top management.

o Studying credit applications (Including preparing recommendations).
o Analyzing financial statements and preparing the credit report, which upon the credit decision is taken.
o Credit analyzing and Collateral analyzing.
o Calculating risk rating for credit process.
o Interviewing customers and meeting upon request.