Mahmoud Elsemary, Group Senior Finance Manager & BOD Secretary

Mahmoud Elsemary

Group Senior Finance Manager & BOD Secretary

Kuwait Packing Materials Manufacturing Co

Location
Kuwait
Education
Bachelor's degree, Accounting
Experience
18 years, 10 Months

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Work Experience

Total years of experience :18 years, 10 Months

Group Senior Finance Manager & BOD Secretary at Kuwait Packing Materials Manufacturing Co
  • Kuwait - Hawali
  • My current job since March 2018

known as K-PAK® is a leading manufacturing of petroleum derivative (polystyrene and polypropylene) products in the region supplying quality and innovative packaging solutions for food and retail industries. Key player in Overseeing the
Entire Business and act as Board Liaison, responsible for the management of company's and its subsidiaries’ operations, with following responsibilities:
• Directly reporting to CEO, Group Deputy CEO and the BOD.
• Manage and supervise outsourced functions for the Company.
• Develop and execute the Group's financial strategy.
• The coordinator and facilitator of Board of Directors (BOD) meetings.
• Lead the annual budgeting and forecasting processes of group entities.
• Prepare and analyze financial reports, including consolidated statements.
• Manage cash flow and implement cost-saving measures.
• Assess and mitigate financial risks, including currency and market risk.
• Oversee internal and external audit processes.
• Manage banking relationships and financial investments.
• Lead ERP system implementation and maintenance.
• Lead financial planning and analysis activities.
• Evaluate potential M&A opportunities and perform due diligence.
• Mentor and manage a team of finance professionals.
• Ensure compliance with financial regulations in Kuwait and internationally.
• Support strategic financial decision-making in the organization.

Chief Accountant at Acico Industries for Precast & Construction
  • Kuwait - Al Kuwait
  • March 2016 to February 2018

With more than 25 years of service across the region, ACICO Group established
itself as market leader in the manufacturing of building materials and providing
construction and engineering services. In this role, I handle financial reporting,
budgeting, compliance, analysis, treasury, ERP systems, financial policies, strategic
support, team leadership, cost management, and organized financial recordkeeping. Some of my key achievements are:
• Created holding and shareholder companies from the ground up.
• Contributed to multiple special projects.
• Oversaw the consolidation of the annual budget plan for AIPC including capital
expenditure, operating expenditure, and manpower planning budgets along
with the effective implementation and compliance to the approved budget
and obtain required approval from the Direct Managers.
• Played a key role in revamping the financial policies of an underperforming
industrial firm and offsetting its accumulated losses.
• Designed and put into operation ERP systems starting from the ground up.
• Oversaw the warehouse activities including the receipt, storage and dispatch
of all items including raw materials, spare parts and finished good.
• Oversaw and reviewed all orders received from the Purchasing Department to
ensure proper inventory control.

Accountant Chief Accountant at Al Masaken Int'l for Real Estate Dev. Co. (K.S.C.P) "Associated Co. of ACICO"
  • Kuwait - Al Kuwait
  • April 2014 to March 2016

A Kuwaiti public company that purchases real estate and lands for development
and carries out sales or leasing. Here, my responsibilities included:
• Oversee the preparation of accurate and timely financial statements, including
income statements, balance sheets, and cash flow statements, in accordance
with accounting standards and regulatory requirements.
• Provide financial insights and data to support strategic decisions, such as real
estate acquisition, development, and leasing strategies.
• Collaborate in the development of budgets and financial forecasts to support
the company's strategic planning and decision-making processes.
• Monitor and optimize cost management across various real estate projects,
identifying areas for cost reduction and efficiency improvements.
• Oversee the financial aspects of lease agreements, including rent collection,
lease renewals, and negotiation of lease terms.
• Conduct financial analysis, including variance analysis, cost-benefit and
profitability analysis for real estate development and leasing activities.
• Supervise treasury functions, including cash flow management, ensuring the
availability of funds for ongoing projects and operational needs.
• Establish and enforce financial policies and controls to safeguard company
assets and maintain financial integrity.
• Interact with investors and stakeholders for reporting financial performance,
addressing inquiries, and building trust in the financial management.

Chief Accountant at ACICO Group
  • Kuwait - Al Kuwait
  • January 2013 to April 2014

Here I was responsible for:
• Prepare accurate financial reports, including income statements, balance
sheets, and cash flow statements.
• Collaborate on budgeting and forecasting and provide financial insights for
decision-making.
• Oversee daily accounting operations, including accounts payable, accounts
receivable, and payroll.
• Conduct financial analysis, including variance and cost-benefit analysis.
• Efficiently manage tax compliance and proactively optimize tax strategies.
• Collaborate closely with both internal and external auditors to ensure the
accuracy of financial records.
• Develop, enforce, and continually enhance financial policies and procedures.
• Establish robust internal financial controls to prevent irregularities and enhance
financial integrity.
• Provide valuable financial insights to inform and support strategic decisions.
• Take the lead in mentoring and empowering the accounting team for
professional growth.
• Monitor and skillfully manage costs to consistently improve profitability.

Senior Accountant at Al Ekhlas International Education Co
  • Kuwait - Al Kuwait
  • April 2012 to December 2012

A Kuwaiti educational holding company established in April 2019 that focuses on
acquiring and managing different educational institutions, with a goal of providing
high-quality education to students across the globe. Here, I was responsible for progress reports, covering all accounting activities and other areas of interest for
the Management and provided CFO & CEO with full visibility on financial results.

Chief Accountant at 09 Clinic
  • Kuwait - Al Kuwait
  • April 2008 to December 2012

An associate company of Al Ekhlas International Holding Co providing healthcare
services to the community. My main responsibility was to oversee and manage the
clinic's financial operations, including budgeting, financial reporting, and ensuring
compliance with accounting regulations and standards.

Accountant at Al-Shaheen Center
  • Kuwait - Al Kuwait
  • December 2006 to March 2008

It is an exclusive distributer of ACICO for trading, Kuwait. Here, my responsibilities
included oversees financial records, budgets, and tax compliance, contributing to
the company's financial health and decision-making in the trading industry.

Accountant at n Embassy of Mauritania
  • Kuwait - Al Kuwait
  • August 2005 to November 2006

Here, my responsibilities included managing financial transactions, maintaining
accurate records, preparing financial reports, and ensuring compliance with
financial regulations and embassy policies.

Education

Bachelor's degree, Accounting
  • at Mansoura University
  • June 2005

BACHELOR'S

Specialties & Skills

Cost Reduction
Budgeting
Financials
Leadership
Business Intelligence
Financial Strategy
Organization Efficiency
Financial Reporting
Strategic Planning
Leadership
Business Intelligence

Languages

English
Expert

Hobbies

  • Strategic Planning
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