Senior Accounting Manager
The Red Sea Development Company
Total years of experience :16 years, 5 Months
Projects Accounting Manager of the Red Sea Giga Project which is 100% owned by Saudi Public Investment Fund
The Red Sea Project (TRSP) is the world’s most ambitious luxury tourism development, offering an exclusive experience of unparalleled diversity for discerning global travellers. The site encompasses an archipelago of more than 90 pristine islands, miles of sweeping desert and dramatic mountain landscapes.
Our ambitious vision to deliver unforgettable, personalized experiences in a stunning environment is also matched by our commitment to:
set a new standard in sustainable development;
protect, preserve and enhance the local environment; and
offer access to some of Saudi Arabia’s most important cultural treasures.
Visitors will be playing their part in preserving and enhancing the region’s extraordinary natural beauty for generations to come. In particular, the Red Sea Project will mitigate carbon dioxide emissions, waste production, and light and noise pollution, maintaining the destination at a level equivalent to a Marine Protected Area.
The destination’s variety of islands and coastline, rare opportunities to enjoy culture and the natural world, together with the highest-quality personalized accommodation and service, will set new standards in luxury travel and position Saudi Arabia on the global tourism map.
ACHIEVEMENTS:
Notable Projects:
-Total Amount: 400 Million USD. 15 Branch projects with multiple diverse clients including Saudi Aramco, Arriyadh Development Authority, Riyadh Municipality, MIC.
-Total Amount: 200 Million USD. KAPSARC (King Abdullah Petroleum Studies and Research Center - Saudi Aramco).
-Total Amount: 250 Million USD KAUST (King Abdullah University of Science and Technology - Saudi Aramco).
Project Management:
-Coordinated with Commercial Team and Project Leaders to ensure accurate and timely financial management of all external projects to assess/report monthly revenue forecast by project/opportunity for each business unit, including preparation of short-term cash flow forecasts and formulation/monitoring of budgets for variances & preparation of monthly/yearly accruals.
-Conducted detailed preparation of Subcontract & Procurement RFQ’s and RFP’s as per client specifications and undertook thorough analysis and negotiation to ensure best-guaranteed price/quality for work/materials all within the assigned project budget.
-Collaborated with Commercial and Technical Teams to verify subcontractors approved quantities and keep progress invoices updated including the revision of approved RFI’s.
-Successfully monitored/controlled project plans, budgets, Actual vs. Estimated Cost and controlled/analyzed Project Accounts (Cost, Revenue, Billing, Un-Billing, Project Status) Payable & Receivable and Inventory accounts, Fixed Assets and Depreciation.
-Achieved continuous timely and accurate management of the invoicing process, for new and existing clients and all billable projects, including preparation of final invoice packaging (draft & final) with applicable back up for approval.
-Consistently monitored capital project spending to ensure approved limits were adhered to and project details and asset listings were provided and reviewed monthly spends against budget for preparing variance analysis reports to assist Project leaders with action plans to present to the Commercial Manager.
-Provided accurate & timely information updates to the Financial Controller.
-Efficiently maintained billing folders with appropriate documents by standard procedures.
-Successfully managed the preparation of relevant financial tools for the entire project process from start to end, including Tendering & Bidding, Initial, Prepayment & Performance Bonds, Cash Flows, Budget & Estimate Cost, Bank Facilities, through to the Awarding stage.
Data Analysis and Financial Reporting:
-Effectively analysed/reported changes to project margins and monthly forecasts and exacted accurate explanations from the Project Leaders.
-Consistently undertook a detailed analysis of WIP balance on all projects to advise on the financial impact to the business and provided month-end reconciliations of general ledger and trial balances for inclusion in and preparation of reports.
-Efficiently generated and distributed bi-monthly receivables reports and monthly profitability reports to support business action plans and assisted year-end auditing process, including research and reconciliation.
-Effectively collaborated with the Finance and Commercial Managers to provide accurate monthly reports, cost-to-cost calculations, and billing.
-Conducted detailed monthly analysis of P&L accounts and prepared balance sheet account reconciles.
Financial Processes and Budgets:
-Consistently prepared proper budget forms and fund summaries for distribution at the start of the budget process.
-Accurately processed accounts payable & receivable, accruals and pre-payments and raising of invoices on completion of project stages.
Customer Liaison and Payment Maximisation:
-Fostered effective client relationships to optimise opportunities for billing, researched unbilled issues to maximise possibilities for each billing period and recommended and implemented process improvements to the billing cycle.
-Successfully managed debtors and pursued outstanding accounts.
Project Accountant
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