Financial Controller , Cert IFRS , Strategy,Hedge,Reporting, SAP FICO, Internal Controls,KPIs, Risk)
Saudi airlines (www.saudiairlines.com)
Total years of experience :19 years, 0 Months
Report to CEO
Job Title : Financial Controller
Duties :
Prepare monthly financial reporting including variance Actual V.s Budget and financial statement analysis
Prepare the annual budgeting and recommending planning process. with efficient reporting and preparation of reports on monthly basis to keep controlling in order to achieve budget objectives
Prepare and recommend the setting of financial KPI's Ensures the financial reporting is maintained as necessary
Review and support to optimization of various shared service functions including cash and accounting
Support finance Team simplification or process improvement, and procedures including implementation SAP system
Ensure the highest levels of controllership, compliance and setting of sound internal control procedures, and implement an efficient and timely financial reporting system with recommendation to drive business growth
Work closely with operation and commercial management team for business cases that include services agreement to ensure alignment with business objectives and key performance indictors
Cooperating commercial management team to setting of commission principle and inactive schemes for general sales agent and study of new flight routes for different destinations
Work closely with Different Committees of purchasing, pricing and business cases to provide the financial analysis support and budget controlling
Review the transactions record form finance Sectors for monthly closing purpose
Work with cash and collection team to decrease the day sales outstanding ratio and improve the other financial ratios
Achievements :
Actual saving expenses SAR 4M in Y- 2015
Implement test of SAP- EPR system (FI and MM ) for world station operation which increase invoicing control
Improved the financial data accuracy in cargo spot Sys. Y-2015 to depend on it for financial and business report
Improved business and commercial report financially wise to achieve the business goals Y-2015
Prepare the KSA sales agent incentive Sachem 2015 which increase company revenue and staff incentive amounts
Prepare the new bank guarantee policy for global general sales agent Y-2016
Job Title : Financial Controller
Duties :
Prepare monthly financial reporting including variance Actual V.s Budget and financial statement analysis
Prepare the annual budgeting and recommending planning process. with efficient reporting and preparation of reports on monthly basis to keep controlling in order to achieve budget objectives
Prepare and recommend the setting of financial KPI's Ensures the financial reporting is maintained as necessary
Review and support to optimization of various shared service functions including cash and accounting
Support finance Team simplification or process improvement, and procedures including implementation SAP system
Ensure the highest levels of controllership, compliance and setting of sound internal control procedures, and implement an efficient and timely financial reporting system with recommendation to drive business growth
Work closely with operation and commercial management team for business cases that include services agreement to ensure alignment with business objectives and key performance indictors
Cooperating commercial management team to setting of commission principle and inactive schemes for general sales agent and study of new flight routes for different destinations
Work closely with Different Committees of purchasing, pricing and business cases to provide the financial analysis support and budget controlling
Review the transactions record form finance Sectors for monthly closing purpose
Work with cash and collection team to decrease the day sales outstanding ratio and improve the other financial ratios
Achievements :
Actual saving expenses SAR 4M in Y- 2015
Implement test of SAP- EPR system (FI and MM ) for world station operation which increase invoicing control
Improved the financial data accuracy in cargo spot Sys. Y-2015 to depend on it for financial and business report
Improved business and commercial report financially wise to achieve the business goals Y-2015
Prepare the KSA sales agent incentive Sachem 2015 which increase company revenue and staff incentive amounts
Prepare the new bank guarantee policy for global general sales agent Y-2016
Senior Cost Controller
Costing Dept.
Duties :
prepare the Guides cost analysis process by establishing and enforcing policies and procedures; providing trends and forecasts; determines cost of operations by establishing standard product costs; collecting operational data; explaining processes and techniques; recommending actions.
Developed and maintained product standard costs and maintain SAP system accounts and costing views master data
Release and controlling costing product cost run monthly wise -with analysis of the cost elements (Material- Manpower and other manufacturing expenses for all product component and processing costing level .
Conduct cost-effective analysis, perform costing methods and develop analytic strategies for purchase subcontracting material decisions
Implementation and management of controls to maximize Forecast & Actuals accuracy.
Preparation of operation Utilization Report; to monitor operation facility utilization in processing levels, costing wise and controlling production volumes, capacity utilization and costing recovery with action plan to improve& utilized Capacity in business areas
Preparing and analyzing monthly and quarterly financial information to understand product cost trends and variances, of purchase price, material consumption, and to ensure compliance with accounting standard and company accounting policies. Analyzed & explain manufacturing variances, recommend corrective &Preventive action
Prepare and analysis reports for inventory, labor, overhead, and manufacturing variances. and improved the manufacturing cost rates and developed overhead allocation methodology
Prepare and analysis the profitability report (product, customer, Sales channels )wise
Coordinates for hedging coverage for Metal items related inventory to avoid losses due to change of LME Prices
Setting objectives for the cost control team & monitoring the achievements of their objectives related to department.
Prepare the controlling process time report to be develop process cost and effecting on SAP system
Prepare the non-standard costing calculation and project sales order costing run as per tender costing rate
Prepare monthly meeting with manufacturing managers and agree on the reasons of variances to improve inventory, labor, overhead, and manufacturing rates
Monitor and analysis the production process scrap percent % report compared with stander calculation
Stock controller/ Inventories:
Duties :
Annual Stock Taken Committees Manager of all material and finished product to assure stock accuracy
Conduct periodic inventory physical counts to safeguard company assets
Coordinates with Supply Chain and auditors for inventory reconciliation.
Organizes physical verification of all inventories through cycle counts.
Maintaining an accurate perpetual inventory costing system
Audit stock transactions to ensure proper allocation and documentation
Carry out regular evaluation for obsolescence and excess stock levels and Book necessary provisions In financial accounts after approval from the management.
Protects assets and inventory Stock by establishing and enforcing internal controls and procedures
Achievements :
Build inventory cycle Counting and Increased All Inventory Accuracy Level and Manufacturing plant
Create risk assessment controlling for costing Dept.
Implement material Consumption Cost Report “SAP-ERP system ” at All Manufacturing Cost Level
Implement costing system “ SAP Controlling /Costing “ at “ Cables &Wires & PVC& Wood “ Factories
Saving operation process time Cost Due to Study Actual Process time Cooperating With R&D Section
Duties :
Preparing business plan for five years and making the necessary update of the plan according to any material changes in the business or the regulations which may affect forecasts.
Lead & execute the Financial Planning process (Annual Budget, Quarterly updates and 5-year plan)
Preparing the appropriate templates to prepare the budget by all concerned departments.
Receiving the budget estimates from all the departments of the organization and critically examines them for correctness, accuracy and completeness; and conformance with established procedures, regulations, and organizational objectives.
Prepares annual budgets for all manufacturing and commercial units taking into account planned volumes and utilization.
Prepare reports to be provided to the management on consolidated annual budgets, quarterly forecasts, action plans required and analysis of key drivers
Reviews actual against budgeted performances and prepares reports explaining budget deviations, including engaging in various accounting & costing tasks, annual planning process, compiling, reconciliations, and budgetary control.
Preparing detailed reports pertaining to discrepancies and amendments that occurred in the budget, during the entire financial year
responsible for financial analysis in areas like Sales, Margin, Inventory, Store space, etc on periodical basis and prepare the analytical reports for Management action.
Submitting budget reports to the higher management of the organization for further scrutiny and approval in accordance with the approved policy.
Responsible for cost benefit analysis, studying financial requests and also Review and approve the purchase requisitions
Accounts Payable Duties :
Review and verifying all goods receipt, service receipt and posting vendors invoices .
Manages all Payment vendors within the due date Review and verifying all vendor contracts / Purchase orders .
Develops implements and maintains systems, procedures and policies, including accounts payable functions to
ensure adherence to company guidelines and review the top vendor reconciliations
Interface with management in other departments Month-end, quarter-end and year-end closing section activity
Follow up and prepared the prepaid expense and accrual expense
Respond to vendor inquires and clarification
reviewing and highlight the deviations in the purchase price of raw material references To participate in the cost reduction process to safe the company profitability
Costing and Stock Control Duties
Prepare the manual costing sheeting and making closing activates monthly Basis
Ensures the correct standard costs are established and regularly updated for products.
Established the right cost accounting system for respective products
Measuring Labor cost & measuring material cost monthly wise Effect
Provide management with studies about product’s cost behavior and participate In the cost reduction
process to achieve optimal profitability
Prepare detailed commentary and analysis of manufacturing variances for each factory.
Prepare the aging Stock and dissociation with unit manager to be suitable based Budget .
Prepare non-moving Stock to taken action based on material plan requirement
Duties : General & Fixed Assets :
Ensures safe custody and proper accounting of all fixed assets at various locations.
Organizes physical verification of all fixed assets at least once in 12 months.
Coordinates feasibility studies for new investments in manufacturing units.
Controlling petty cash accounts
Prepare the accrued and prepaid accounts
Reconciliation with Affiliated Company
Duties : Treasury/ Bank Accounts :
Hedging of metals prices
Controlling letter of credited and letter of guarantee accounts
Review and recorded whole bank transaction on system
Prepare bank reconciliation and confirmed
Controlling loans accounts
Factoring and Credit Insurance process
" Training Course"
Certificated in Management Accounting
ACCOUNTING SECTION
