Senior Finance Manager
Kuwait Packing Materials Manufacturing
مجموع سنوات الخبرة :18 years, 6 أشهر
➢ Core Duties
• Consolidated financial statements and budget - Monthly, quarterly & annually.
• Business activity reports, historical analyses & forecasts.
• Monitor financial details to ensure the legal requirements.
• Supervise department’s heads & subsidiaries’ financial managers.
• Review the group financial reports and seek ways to reduce costs.
• Managing group auditing works & preparing scheduled dates.
• Responsible of BOD meetings preparation, ordinary /extraordinary AGM’s and the
procedures with all relevant authorities.
• ERP implementation, D-365 Management reporter design & upgrades projects.
- Oversee the consolidation of the annual budget plan including capital expenditure, operating expenditure and manpower planning budgets along with the effective implementation and compliance to the approved budget (tracking, variance analysis, reporting…etc.), and obtain required approval from the Direct Manager.
- Manage the petty cash disbursement, replenishment and reconciliation.
- Oversee the loans and interest payments by ensuring loan installments are paid on time and tracked accordingly.
- Establish good relations with banks for managing bank accounts, monitoring bank account balances, reconciling these accounts, contract and loan negotiations in liaison with the Treasury & Corporate Finance Department.
- Review all financial statements and ensure the accuracy of entries to general ledger accounts, cost centers and documentation of business transactions; maintain general ledger by transferring subsidiary accounts, preparing a trail balance & reconciling entries.
- Ensure the preparation of quarterly and annual financial statements with consolidated statements in a timely & accurate manner.
- Provide CFO with full visibility on financial results, and support in identifying & driving corrective actions to maximize profitability.
- Manage the daily accounting activities including but not limited to: ledger accounting, cost and revenue allocation, accounts receivable and payable, payroll, consolidation and closing to ensure the accuracy and completeness of accounting records.
- Monitor the implementation and maintenance of accounting control procedures and ensure compliance of all activities with local financial authorities’ rules & regulations and International Accounting Standards and Local Financial Reporting Standards.
- Oversee payment related activities: purchasing, staff payroll and salary related issues, manage local, foreign accounts…etc., in addition to ensuring successful resolution and timely completion of the same in coordination with the concerned departments.
- Monitor accounting balances, interpret cash flows and take corrective actions to ensure successful resolution of discrepancies and assist in the implementation period-end closing process, ensuring its completion in a timely and accurate manner.
- Organize the timely and accurate weekly and monthly accounting activities for all departments.
- Ensure maintaining adequate audit trails to permit tracking transactions from end to end.
- Liaise with external auditors for timely fulfillment of requested reconciliations, providing required information, responding to queries and ensuring that annual audits are carried out in a timely manner.
- Oversee the warehouse activities including the receipt, storage and dispatch of all items (raw materials, spare parts, finished good)
- Monitor and control the inventory movement and ensure that the Warehouse Supervisor applies all the required security measures and Safety Policy.
- Oversee and review all orders received from the Purchasing Department to ensure proper inventory control.
- Coordinate with HR Dep. & Administration Department on all recruiting activities.
- Conduct annual employee performance appraisals for the department’s employees.
- Identify the training needs of employees to ensure all relevant experience and knowledge is transferred to employees to ensure a highly skilled and high performance workforce.
- Delegate some responsibilities to appropriate subordinates in order to ensure a smooth flow of the department’s operations.
- Review and present reports on budget activity, including identification of potential problems and recommendations for corrective action, forecasts trends and make recommendations.
- Prepare and submit reports on a regular basis to top management that cover the Finance Department’s activities and outcomes.
- Generate and submit financial reports as needed by top management, other departments or team members.
-Supervise the General Ledger activities in accordance with ACICO’s accounting policies and guidelines and international accounting standards.
-Approve direct journal vouchers (e.g. related to payroll, account payable, accounts receivable, fixed assets…etc.) and batches for entry of financial transactions into the General Ledger.
-Follow up on missing supporting documents pertaining to direct journal vouchers and investigating the same in order to take necessary actions.
-Maintain the reliability of Chart of Accounts, General Ledger and its related processes.
-Ensure that transfers from sub-ledgers to General ledger and the reconciliation between sub-ledgers and General ledger are being performed on a regular basis.
-Oversee and ensure the accuracy and efficiency of period/ yearend/ open/ close processes.
-Supervise the Accounts Payable activities including matching invoices, purchase orders and delivery notes, in addition to investigating discrepancies and supplier’s invoice processing and adjustments including debit/credit notes.
-Approve payment to suppliers including the preparation of bank drafts and wire transfers.
-Ensure that confirmations are being sent to suppliers on a timely basis, and discrepancies are being solved.
-Monitor the periodic reconciliation of petty cash and ensure maintaining a record of all payments made, as well as reviewing monthly bank reconciliations.
-Monitor the processes of billing and collection from clients and review invoices’ discrepancies including debit/credit notes to ensure the proper resolution of discrepancies.
-Ensure that confirmations are sent to clients on regular basis.
-Reviewing accounts receivable aging reports prepared by the Accountant and estimate provisions required for long outstanding receivables.
-Monitor the collaboration between Senior Accountants and HR & Administration Department in order to ensure accuracy of computation and completeness of payroll data.
-Process employees’ payroll and payment on timely basis and administer the resolution of discrepancies related to payroll additions and deductions.
-Perform other duties related to the job as assigned by the Direct Manager.
-Ensure training & development services are successfully and meaningfully being delivered, and provide feedback to the department manager.
-Delegate some responsibilities to appropriate subordinates in order to ensure a smooth flow of the department’s operations.
-Participate in the recruitment, selection, evaluation, and supervision of approved staff.
-Prepare and submit progress reports that cover all accounting activities and other related fields for the
Management as require.
-Executing all the accounting cycles in the company and posting to General Ledger.
-Evaluate performance of stores across concepts and recommend corrective.
-Deportation and follow the movement of inventory.
-Monitoring bank balances and preparing banks Reconciliation.
-Checking &signing of all documents related and entries in the book of accounts (system).
-Revaluation of short and long terms investments
-Contribute to the plan and follow-up sales and direct supervisors in the case of variables domestic and external markets.
-Preparation for monthly &quarter financial statement.
-Preparation for monthly &quarter segments.
-Approve the issuance of purchase orders and follow the movement of purchases with stores.
-Follow-up processes and provide them with observations and points of change in motion a month, through the financial reports.
-Matching the asset register of extras and depreciation with the main system, and determine the policies of depreciation.
-Preparation budget & cash flow and reporting to Management.
-Control of the budget and take the necessary action in case of exit from the budget plan.
-Monitoring the bank transactions & collections
-Evaluate performance of stores across concepts and recommend corrective.
-Provide CFO & CEO with full visibility on financial results - P&L.
-Prepare and submit progress reports that cover all accounting activities and other related fields for the Management as require.
-Monitoring bank balances and preparing banks Reconciliation.
-Checking &signing of all documents related and entries in the book of accounts (system).
-Preparation of payroll for staff & managers.
-Preparation the cash flow of the company.
-Monitoring the Bank transactions which related to the transfers of (LG) etc.
-Preparation for monthly financial statement.
-Preparation budget & cash flow and reporting to Management.
-Manage payables and receivables for all the concepts
-Supervise Banking transactions
-Monitor the income and expenses versus budget, track the variances, recommend corrective actions
-Initiate and develop reporting and tracking systems
-Train and educate the team members about errors / new system developments
-Evaluate performance of stores across concepts and recommend corrective actions.
Executing all the accounting cycles in the company and posting to General Ledger.
• Monitoring bank balances and preparing banks Reconciliation.
• Checking &signing of all documents related and entries in the book of accounts (system).
• Preparation of payroll for staff & managers.
• Preparation the cash flow of the company.
Monitoring the Bank transactions which related to the transfers of (LG) etc.
• Preparation for monthly financial statement.
• Preparation budget & cash flow and reporting to Management.
• Manage payables and receivables for all the concepts
• Supervise Banking transactions
• Monitor the income and expenses versus budget, track the variances, recommend corrective actions
• Initiate and develop reporting and tracking systems
• Train and educate the team members about errors / new system developments
• Evaluate performance of stores across concepts and recommend corrective actions
• Management delegates Sales.
• Following bank balances and preparing banks Reconciliation.
• Executing all the accounting cycles in the Establishment
• Evaluation of inventory and main tainting Costing
• Executing all the accounting cycles in the Establishment and posting
to General Ledger.
• Following bank balances and preparing banks Reconciliation.
• Preparation of payroll for around 25staff
• Monitoring bank balances beside monitoring banks Reconciliation.
• Monitoring the Bank transactions which related to the transfers of (L C's/ BG) etc.