Chief Financial Officer CFO
Akel Trading & Industrial Co
Total years of experience :26 years, 5 Months
Launched enterprise-wide improvements in financial operations, analysis, and control with oversight of SAR 100MM operating budget and 28-person finance team. Partner with financial technology team to build and launch tools to reduce risk, increase accuracy, and fuel organizational growth.
Key Contributions
●Policies Enforcement & Strategy - Achievement of Business Plan and ensuring adequacy of fund to achieve targeted Revenue and profit objective
● Relationships - Establish and maintain lines of communication with banks, , and all other stockholders
● Developed and administered annual budgets following periods of strong analysis and research.
● Developed thorough forecasting and cash-flow management processes to maximize progression and profitability.
● Coached and mentored junior staff to maximize finance department capabilities.
● Cost control for all production stages to reduce cost by 27 %
● Reduced annual business expenditure through careful expense monitoring by more than 35%
● Protected company assets with strategic risk management approaches
Launched enterprise-wide improvements in financial operations, analysis, and control with oversight of $50MM operating budget and 60-person finance team. Partner with financial technology team to build and launch tools to reduce risk, increase accuracy, and fuel organizational growth.
Key Contributions
● Enhanced financial forecasts by reducing errors and report time by 30% and 55%, respectively, after I leveraged available data and built a new reporting model.
● Reduced spending by $3 million by analyzing supplier performance and re-negotiating pricing, as well as terms of service in the span of 4 years
● Captured $5MM in savings over 4 years, streamlining and standardizing accounting and reporting processes to reduce close cycle by ten days.
● Reduced business operational inefficiencies and costs by 160% over 1200 client accounts in the span of 4 years.
● Negotiated client's vendor contracts, thus reducing a total of $30 MM in costs for the company's top 1% clients.
● Achieved consistent 10% YoY revenue
● Prevented a $2 million financial loss by conducting an internal audit which identified 5+ issues with the financial risk and security mitigation systems set in place 4 years.
● Delivered training and development to junior finance employees for progression and best practice improvements.
Launched enterprise-wide improvements in financial operations, analysis, and control with oversight of SAR 500 MM operating budget and 48-person finance team. Partner with financial technology team to build and launch tools to reduce risk, increase accuracy, and fuel organizational growth.
Key Contributions
Direct and oversee all the financial activities of the region including preparation of current financial reports, summaries, and forecasts for future business growth.
● Develop, implement, and lead projects financing & other operations transactions, to decrease financing risk by 35%
● Developed and administered annual budgets following periods of strong analysis and research.
● Identified improvement changes regarding key processes for internal controls and accounting procedures to reduce cost by SAR 3 MM yearly.
● Reduced annual business expenditure through careful expenses monitoring by SAR 16 MM for 4 years
● Built and strengthened productive and valuable industry partnerships to drive collaboration, engagement, and revenue stream development.
● Protected company assets with strategic risk management approach
● Manage monthly reporting of actual financials (Revenue analysis, expenditures, capital expenditures, and cash -flow) and analysis of variances to budget and forecast.
● Monitored and reviewed financial controls, processes, and procedures to enable best practice development.
● Developed and administered annual budgets following periods of strong analysis and research.
● Developed thorough forecasting and cash-flow management processes to maximize progression and profitability.
● Partnered with IT, business development and operations leadership to develop robust financial business plan with detailed benchmarks and action plans.
● Protected company assets with strategic risk management approaches
● Setting financial policies & procedures
● Managing cash balances and controlling cash flow
● Preparing budgets, Variance analysis, financial plans & forecasts
● Report recommendations to management to improve performance
● Dealing with external parties (external Auditors, suppliers, etc.)
● Leading the Accounting & Finance Department in daily operations
● Ensure that appropriate financial processes and systems are in place in accordance with local laws and corporate policies
● Setting and evaluating financial policies & procedures
● Review and approve transactions, payment vouchers and adjustment entries
● Produced monthly & annual reports comparing actual performance to budget
● presented detailed accounting reports to finance manager.
● Accurately documented all cash, credit, fixed assets, accrued expenses and line of credit transactions.
● Analyzed monthly reporting to reconcile production operations and general ledger.
● preparing annual financial statements.
● Analyzed monthly balance sheet accounts for corporate reporting.
● Trained new employees on accounting principles and company procedures.
● Coordinate external audits and relationship with Audit firms
• • Journal reports of (cash & bank, purchases, sales)
• Posting the entries prepared into the ledger
• Preparing bank reconciliation
• Monthly preparing reconciliation & settlements
• Preparing analysis of (exp., sales, purchases & others)
• Taxes settlements
• Auditing for all accounting transactions and journal entries
