Chief Finance Officer (CFO)
GLOBAL AKFA for Commercial Investment Co., Riyadh, KSA
مجموع سنوات الخبرة :16 years, 1 أشهر
GLOBAL AKFA for Commercial Investment Co., Riyadh, KSA, Feb 2013 - till date
Chief Finance Officer (CFO)
• Assisting to perform all tasks necessary to achieve the organization's mission and help execute staff
succession and growth plans.
• Training the Finance Unit and other staff on raising awareness and knowledge of financial management
matters.
• Working with the President/CEO on the strategic vision including fostering and cultivating stakeholder
relationships as well as assisting in the development and negotiation of contracts.1
• Participation for developing new business, specifically: assist the CEO and COO in identifying new funding
opportunities, the drafting of prospective programmatic budgets, and determining cost effectiveness of prospective service delivery.
• Assessing the benefits of all prospective contracts and advising the Executive Team on programmatic
design and implementation matters.
• Ensuring the adequate controls are installed and that substantiating documentation is approved and available such that all purchases may pass independent and governmental audits.
• Overseeing the management and coordination of all fiscal reporting activities for the organization
including: organizational revenue/expense and balance sheet reports, reports to funding companies,
development and monitoring of organizational and contract/grant budgets.
• Overseeing all purchasing and payroll activity for staff and participants.
• Attending Board and Subcommittee meetings; including being the lead staff on the Audit/Finance
Committee.
• Monitoring banking activities of the organization.
• Ensuring adequate cash flow to meet the organization's needs.
• Investigating cost-effective benefit plans and other fringe benefits which the organization may offer
employees and potential employees with the goal of attracting and retaining qualified individuals.
• Overseeing the production of monthly reports including financial statements and cash flow projections for use by Executive management, as well as the Audit/Finance Committee and Board of Directors.
• Assisting in the design, implementation, and timely calculations of wage incentives, commissions, and salaries for the staff.
• Overseeing and controlling Accounts Payable and Accounts Receivable and ensure a disaster recovery plan
is in place.
• Overseeing business insurance plans and health care coverage analysis.
Projects:
• Full-fledged Group of Dental Hospitals named as Dima Dental Clinic Complex, Redwan Dental Clinic
Complex, Dal Miral Dental Clinic Complex with over 50 work bench in Riyadh
• Thimar Al Sultan Import & Export Co. at Riyadh with the sophisticated logistic capacity to handle, import & export of Cooking Oil, Cheese, Pulses & Spices, Perishables, etc.
• Ebram Investments to handle real estate projects, local investment support, at Riyadh.
LULU Group International Co., Kingdom of Bahrain, May 2006-Jan 2013
Regional Finance Manager
• Collaborating with the board to define and articulate the organization's vision and to develop strategies for achieving that vision.
• Conducting feasibility study and prepare budget up to Pay Back period of the project for sales/income/expenses for setting up the Hypermarkets, Shopping Mall, Logistics, Wholesale Operation and presenting it to the Head Office.
• Developing and monitoring strategies for ensuring the long-term financial viability of the organization.
Developing future leadership within the organization.
• Preparing targets on all categories viz Purchase, Sales, Incomes, Expenses, Fund Management, Inventory,
Promotion other activities and to fixing them with General Manager of individual Outlets.
• Evaluating in-place systems, processes & procedures, streamline where appropriate, along with the technology implementation and optimize within budget constraints.
• Signing the Banking & Legal documents as one of company's authorized signatory
Projects:
• LuLu Hypermarkets at Dana Mall, Riffa, Ramli Mall & Hidd in Bahrain with the total area of 150, 000 M2
• Distribution Centre at Al Bandar, Bahrain: 300, 000 M3 Storage Area Distribution Centre with WMS computer
solution from E+P, Germany with modern facilities. Area includes 30, 000 M 3 Cold Storage, 1, 200 M2
Repacking Facility for In-house Distribution
• Fair Star Foodstuff Trading (Whole Sale), Bahrain: Wholesale operation to cater all Fresh/Frozen meat from
India, Australia and other countries to supply sister concerns and outside markets in the region.
Sree Manickam Infrastructure Co Ltd, Chennai, India, Feb 2003-Apr 2006
Director of Finance and Administration
Financial Management:
• Managing the accounting, financial and control reporting of the organization, including the collection, receipt, receipting, deposit and disbursement of all funds.
• Analyzing overall business results with goal of continuous improvement.
• Developing financial reports to track performance and benchmark against peer organizations.
• Preparing financial reports for the CEO and senior team which will also be shared with the Board of Directors and Finance/Investment Committee. Attend meetings of the committee and ensure minutes are prepared and distributed.
• Presenting reports and results of business analysis in a form readily comprehensible by non-financial managers.
• Overseeing accounting and bookkeeping staff and functions, including preparation of monthly closings.
• Maintaining cash management, banking, accounting and financial reporting related to operations of the Conservancy.
• Managing annual budget preparation process, tracking of financial performance and regular reporting to Senior Staff of budget to actual results.
• Monitoring the performance of investments and investment manager (s); prepare reports and act as liaison between manager (s) and the organization.
• Supporting project managers by assisting with the preparation of budgets and tracking performance against budget.
• Managing to prepare and oversee the organization's annual audit, tax returns and other governmental filings and/or reports.
• Monitoring financial systems and controls to ensure accuracy and reduce risk and compliance with tax regulations (federal, state, local, payroll, etc.)
Human Resources:
• Managing benefits administration, including annual review and renewal of employee benefit contracts.
• Ensuring the personnel policies and procedures are in place and followed including employee job descriptions.
Technology:
• Managing relationship with IT service provider to insure systems effectiveness and integrity.
• Ensuring the IT system and security upgrades are implemented as needed.
• Ensuring that staff receive appropriate computer/software training and assist staff in solving technology problems efficiently.
Risk Management:
• Ensuring that the organization's insurance coverage (including property, auto, liability, worker's compensation, D & O and employee benefits) is adequate and current.
• Monitoring adherence to policies related to document retention and destruction.
• Ensuring that procedures are in place to safeguard the security of records and data and those recordkeeping procedures protect employees' privacy.
LULU Hypermarket, Dubai, Feb 1998-Jan 2003
Accounts Manager
• Led efforts in developing & executing best practices & standard operating procedures targeting at organizational excellence. Liaise with the debtors/ vendors while analyzing and reviewing their billings, Vendor Reconciliation, invoices, agreements and other legal documents, ensuring timely payments.
• Designed, developed, evaluated and implemented accounting systems to improve the accounting
procedures and functions followed at the organization.
• Developed management tools to measure and analyze financial and operational information (financial ratios, key performance indicator, sales forecasting platform, integrated budget model)
• Maintained various books of accounts in company accounting system and prepare year-end financial statements in compliance with accounting standards.
• Actively coordinated with the Bank Authorities and prepare Bank Reconciliation Statements for reconciling Cash & Bank balances.
• Maintained Project Accounts, Reconciliation's, payables and receivables
• Actively involved in monitoring statutory books of accounts, bank reconciliation as well as financial statements including Trial Balance, Profit & Loss Account, Income & Expenditure A/c, Accounts Payables and Receivables Statements and Quarterly, Half early & Annual Balance Sheets.
• Kept track of MIS reports to provide feedback to top management on profitability, budgetary control,
credit administration etc.