Chief Financial Officer CFO
AiElements
Total years of experience :24 years, 1 Months
Develops financial well-being of the organization by providing financialprojections and accounting services, preparing growth plans, and directingstaff.
Accomplishes finance human resource strategies by determiningaccountabilities; communicating and enforcing values, policies, andprocedures; implementing recruitment, selection, orientation, training, coaching, counseling, disciplinary, and communication programs; planning, monitoring, appraising, and reviewing job contributions; and planning andreviewing compensation strategies.
Develops finance organizational strategies by contributing financial andaccounting information, analysis, and recommendations to strategic thinkingand direction and establishing functional objectives in line with organizational objectives.
Establishes finance operational strategies by evaluating trends; establishingcritical measurements; determining production, productivity, quality, andcustomer-service strategies; designing systems; accumulating resources;resolving problems; and implementing change.
Develops organization prospects by studying economic trends and revenueopportunities; projecting acquisition and expansion prospects; analyzingorganization operations; identifying opportunities for improvement, costreduction, and systems enhancement; and accumulating capital to fundexpansion.
Develops financial strategies by forecasting capital, facilities, and staffrequirements; identifying monetary resources; and developing action plans.
Monitors financial performance by measuring and analyzing results, initiatingcorrective actions, and minimizing the impact of variances.
Maximizes return on invested funds by identifying investment opportunities andmaintaining relationships with the investment community.
Reports financial status by developing forecasts, reporting results, analyzingvariances, and developing improvements.Accomplishes finance and organization mission by completing related resultsas needed.
- Plan, develop, implement and direct the organization’s operational and fiscalfunction and performance.
- Act as a strategic partner by developing and implementing the company’splans and programs.Analyze and make recommendation on the impact of long range growthinitiatives, planning, and introduction of new strategies and regulatory actions.
- Develop credibility and authority for the finance leadership team by providingaccurate analysis of budgets, reports and financial trends and operational procedures in order to assist the BOD and senior executive team.
- Create, improve, implement and enforce policies and procedures of theorganization that will improve operational and financial effectiveness of thecompany.
- Communicate effectively and establish credibility throughout the organizationand with the Board of Directors as an effective developer of solutions tobusiness challenges.
- Provide expert financial guidance and advice to others within executiveleadership.- Improve the planning and budgeting process on a continual basis byeducating departments and key members of corporate leadership.
- Provide strategic input and leadership on decision making issues affectingthe organization; specifically relating to the evaluation of potential mergers, acquisitions or partnerships.-Optimize the handling of banking relationships and work closely with CFO tofoster and grow strategic financial partnerships.
- Work with finance team to develop a solid cash flow projection and reportingmechanism, which includes setting a minimum cash threshold to meetoperating needs.
- Act as a strategic advisor and consultant offering expert advice on contracts, negotiations or business deals that the corporation may enter into.- Evaluate company’s financial, operational, and sales and marketingstructures to plan for continual improvements and a continual increase ofoperating efficiencies.
•Financial Policies and Reporting Framework - Contribute towards the formulation and implementation of Financial and Accounting Policies framework in line with overall business strategies.
• Functional Leadership - Take complete responsibility of the deliverables of entire Finance Department through the leadership of the finance function. Setting individual objectives, managing performance, developing and motivating staff, provision of formal and informal feedback and appraisal in order to maximize subordinate and departmental performance. Provide career direction, progression and coaching to finance staff in the business. Identifies & develops high potential employees for succession planning.
• Strategic Financial Management - Provide advice to the Executive Management Team, concerning the short term and long-term capital structuring of the business so that the company has funds available to support the achievement of strategic objectives including in particular capital & other liabilities due for repayment.
• Cash flow Management: Complete grip over payables and receivable taking ownership of collection through recovering stuck up money in the market, negotiating and follow up directly with clients and involvement in implementation of credit policies. Managing business growth by being responsible for P&L account and positive cash flows for the business in local and international markets.
• Cost Controls: Develop a cost control and compliance functions with budgets resulting in targeted cost reduction. Risk assessment and Resource optimization in line with Business Plans, Budgets, and Monthly Financial results. Monitoring of Business Performance. Review of legal contracts. Establishing pricing strategies, financial benchmarks. Review of legal contracts, MOU’s, Joint Venture agreements and Contracts
• CEO Interface and Support - Ensure that the CEO is fully informed of the group's financial position and corporate activities with clients, Structuring Business transactions/deals.
• Internal Control, Compliance, Risk Management - Create and implement appropriate financial controls, systems, and processes, internally and externally to have an effective financial controls environment.
• ERP Implementation: Work in close coordination with IT department for the selection and implementation of ERP system, ensure timely data entry and data integrity, and realization of checks & balances through aggressive monitoring of financial report. Process improvement, reengineering, setting up processes from scratch. ERP implementation.
• Planning, Budgeting & Management Reporting - Lead the preparation and accumulation of the financial budgets in line with business plan. Monitor financial performance versus the budget so that the business is aware of anticipated costs/revenues, areas of unsatisfactory performance are identified, and potential performance improvement opportunities are capitalized upon. Keeping a tight control on project spending and asking GM’s of different segments about the reasons for variances and suggesting remedial measures.
• Business Partnering: A support partner for all development and redevelopment projects across the business unit. Oversees the development feasibilities cost and revenue budgets and forecasts as well as project scorecards in conjunction with the development team for approval or update. Ensures the monitoring and reporting on project financial performance (actual vs budget and forecasts) and proactively manage project financial risks and opportunities with the development team to deliver incremental shareholder value. Provide financial and commercial leadership to support business development strategy and execution. Create a process, culture and environment that facilitates decisions that make good economic sense and are aligned with company strategy and its financial position.
•Business and financial strategy and planning, monitoring, management and reporting, including management and development of policies, systems, processes and personnel involved.
•Reporting and accounting as per regulatory and legal requirements including taxation, dividends, annual report and accounts.
•Management of strategy for and liaison with stock market, business press and business analysts community.
•Contributing to strategic planning and development as a member of executive team, and probably keeping and distributing notes and records, reports to executive and management team.
•Sets forth desired objectives, develops procedures, and proposes changes in existing methods;
•Plans, organizes, and directs fiscal and management control functions;
•Directs the planning, organization, and implementation of overall procedures for real estate acquisition and management, fiscal reporting and administration, purchasing and warehousing, risk management, cash management, investments, business licensing, and sales tax administration;
•Directs, plans, and coordinates negotiations for the purchasing, selling, leasing, renting, and disposing of property;
•Responsible for the preparation of the monthly and annual financial reports;
•Directs and participates in management studies, and reports on complex financial analysis and organizational and administrative policies;
•Works with the Law Department in obtaining settlements and in connection with condemnation actions and claims;
•Works with the insurance companies on Risk Management matters;
•Makes presentations as the need arises;
•Demonstrates continuous effort to improve operations, decrease turnaround times, streamline work processes, and work cooperatively and jointly to provide quality seamless customer service.
•Produce Professional Feasibility Studies, Financial Analysis Industries.
•Prepare applications and studies for obtaining financing needed for each project from the governmental agencies and banks.
•Ensure complete use of the feasibility studies to produce tangible results for business partners and clients.
•Perform comprehensive financial analysis to assist and support the preparation of short and long term strategic plans and activities for the business and partners.
•Prepare financial reports for senior management review and analyze other Company activities.
•Follow the progress of investments in order to make recommendations for the determination of optimum investment strategies.
•Conduct comprehensive analysis of potential joint ventures and quantify risk/return relationships for new ventures.
•Analyze financial information to forecast business, industry and economic conditions for use in making investment decisions.
•Organize, control and provide direction to his section.
•Prepare the Budget.
•Prepare monthly and annual income statements.
•Control Cash flow and allocation of Money.
•Prepare and control a system for accounts payable and accounts receivable within the Company.
•Administer and control the “Petty Cash”.
•Provide effective control of operating expenditure for the current period versus the forecasted one as per the approved budget.
•Carry out any other assignments as directed by the Accountable Manager.
-Markets services by asking for referrals from current clients; meeting prospects at community functions; responding to inquiries; developing promotions; presenting financial planning seminars.
-Assesses clients' financial situation by gathering information regarding investments, asset allocation, savings, tax planning, retirement planning, and estate planning; evaluating risk tolerance.
-Develops financial strategies by guiding client to establish financial goals; matching goals to situation with appropriate financial plans.
-Obtains clients' commitment by explaining proposed financial plans and options; explaining advantages and risks; providing explanations; alleviating concerns; answering questions.
-Monitors clients' financial situation by tracking changes in wealth and life circumstances; analyzing financial plan results; identifying and evaluating new financial strategies; recommending changes in goals and plans.
-Provides financial management information by preparing financial status analyses and reports.
-Updates job knowledge by tracking financial markets, general economic conditions, and new financial products; participating in educational opportunities; reading professional and technical publications; maintaining personal networks; participating in professional organizations.
-Accomplishes organization goals by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments.
-Ensure accurate financial, contractual and administrative reporting of the project compliant with government’s rules and regulations, and terms and conditions of the awar.
-Oversee day-to-day coordination of financial activities ensuring cost efficiency
-Maintain and administer an on-site financial accounting and bookkeeping system (QuickBooks) required to assure the integrity and effective performance of financial operations and prepare monthly reports
-Manage all sub-grants, ensuring compliance and financial reporting of sub-awardee, and building their capacity as needed
-Manage project’s day-to-day cash needs, payments, procurement, contracts, sub-grants, reviewing/processing invoices, district office start-up, operation systems, policies and procedures, consultant payments.
-Provide guidance to project team members regarding the financial requirements of the project and office operations in compliance with government procedures and policies.
-Lead the development, monitoring, and review of project budgets; review monthly financial analysis and budget vs. expense reports to determine reasonableness of variances and take appropriate actions, as require.
-Provide guidance, monitoring and support to project team, including procurement for goods and services, logistical support for local and international travel (including expense reports) for staff and consultants, contracts development and management and maintenance of office inventor.
-Facilitate the work of external audits and ensure that financial records are properly maintained and readily available during audit.
-Direct and oversee the monitoring and annual auditing of cost-share requirements, tracking and reporting
Contribute to developing work plans and annual budgets for project activities and local office cost.
-Ensure that government resources are appropriately directed to project priorities and are in line with project work plan.
-Provide financial reports, including pipeline analysis, quarterly project reports, as requested by the donor.
-Mentor, support, supervise and manage a team of highly qualified staff and align their efforts in concert with project goals to ensure rapid and sustainable results.
•Acting CFO position roles
•Financial management and accounting experience, covering policies and procedures and reporting - procedural audit and/or business analysis experience would be an advantage.
•Practice in financial and accounting processes.
•Financial management systems and exposure to business analysis, business process design - exposure to financial management systems design or development at the implementation stage would be advantageous.
•MS Office applications, particularly Excel, Word and Outlook.
•Develop and organize documents and reports for the CEO and the Chairman as needed.
•Carry out all other duties in the area of Finance as and when requested by the CEO and the Chairman
•Business Development and improvements
•Create the new ideas and projects with high financial profit impact.
Credit officer for car, residential, retail, consigning, corporate and Analysis for financial statement .
Auditor, tax consultant, financial counsultant and accounting
Master in Accounting, with an Average (80%), rating (Very good), Arab Academy for financial and bank
Bachelor B.Sc. Degree of Accounting, with an Average (74%), rating (good), Applied Science Universit
General Secondary School Certification (1995/1996), Scientific Stream, with an Average of (73%)