Chief Fainancial Officer
Alkayied Brothers Company
Total des années d'expérience :19 years, 2 Mois
Key Responsibilities :
Manage and oversee financial disciplines, including working capital; expenditures, debt levels, strategic planning, financial budgeting and forecasting, maximizing /optimizing cash flows and management reports to align to the company’s operations.
Communicate effectively with auditors, company executives and functional managers to implement accounting procedures across departments in line with to ensure compliance to applicable GAAP, IFRS, IAS, local accounting and legal requirements.
Supervise and Support company branches.
Secure and maintain adequate banking facilities to accommodate for existing and future company’s growth needs.
Participation in the due diligence, deal structuring, transaction execution and representation at board meetings.
Enabled key business decisions with modeling or case studies and projected scenarios and financial feasibility analysis to facilitate such decisions.
Advise the BOD in financial matters and develop strategic communication to external stakeholders.
Responsible in setting up corporate finance department of the Company from scratch, advice on funds utilization and
treasury management.
Key Achievements:
> Achieve reduction in funding by over 30 Million USD, by analyzing the business plan in depth, proposing new changes to the BOD and optimizing resources.
> Successfully negotiated multimillion dollar facility agreement with multi local banks and obtaining around 144 Million USD
> Design and establish company profile, policy, salary scale, matrix and Budget manuals .
> Delivered 135% of sales and 127% of profit targets: Developed and implemented a comprehensive strategic planning process for the business providing greater definition of targeted customers. Improved alignment of merchandise with numerous defined markets.
> Increased accountability: Championed the development and implementation of a Balanced Scorecard business performance reporting tool to evaluate monthly results against key success measures encompassing financial, merchandise, marketing, selling and support, distribution, customer service metrics, channel performance and information technology.
> Reduced inventory 29%: Credited with the introduction of operating margin analysis by item, contributing to a significant reduction of inventory levels on a 2% increase in sales.
> Streamlined the merchandise planning process: Increased inventory-buying opportunities through the development and implementation of data warehouse and data mining tools.
> Reduced merchandise analysis time by 71%: Developed Analysis Team, implemented Hyperion Essbase data analysis tools for merchandise performance and inventory management and shortened data updating from 7 days to 2. Implemented inventory buying strategies to focus on “never out of stock” programs .
Key Responsibilities:
Prepare monthly analysis of cost of goods sold and operational expenses against prior year and budget, providing explanations and business solutions to help mitigate the risks.
Partner with Product Management and Purchasing Team in determining financial impact due to product cost reductions, new product roll out, etc. and prepare periodic forecasts to update management on projected results.
prepare Budget Variance Analysis including monthly reviews with senior management .
Maintain a safe and clean work environment.
Oversee all financial operations and direct corporate financial planning and structure.
Prepare short and long-term financial forecasts of financial performance for use with internal management and external parties.
Oversee audit and tax functions, coordinate activities with outside audit firms and review firms performance.
Develop, implement and maintain accounting and administrative policies and procedures for a wide-ranging set of activities including financial accounting and reporting, employee relations (hiring/terminating policies) and other corporate policies.
Key Achievements:
Achieve reduction in funding by over $ 5m, by analyzing the business plan in depth, proposing new changes to the BOD and optimizing resources.
Successfully negotiated multimillion dollar facility agreement with multi local banks and obtaining around $ 2 m for the CHEMVET .
Adjust inventory turnover increased sales to 125% in the first year and to 160% in the second and third year .
- Prepare monthly analysis of cost of goods sold and operational expenses against prior year and budget, providing explanations and business solutions to help mitigate the risks.
- prepare Budget Variance Analysis including monthly reviews with senior management .
- Analyze financial performance against key business metrics and document pertinent financial highlights that will enable management to determine progress against budgets.
- Maintain a safe and clean work environment.
- Prepare short and long-term financial forecasts of financial performance for use with internal management and external parties.
- Oversee audit and tax functions, coordinate activities with outside audit firms and review firms performance .
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