Mazen Khames

Reporting to the Chairman, reportees includes 36 team members, Deemah is a leading FMCG in confectioneries industry. Key responsibilities are as follows:
 Leading business transformation, directing financial planning, budgeting, and strategy.
 Analysing products costing to optimise “production cost” and SKUs profitability.
 IFRS reporting on financial performance.
 Designing and implementing accounting policies and managing internal controls.  Training and coaching finance staff.
 Assessing, managing and minimizing risks.
 Reviewing forecasts, comprehensive budget, and sensitivity scenarios analysis for business segments.
 Treasury management.
 Overseeing audit and taxes/Zakat courses.
Key achievements are as follows:
 Re-structure budget preparation basis to focus on cost centres tasks cost drivers, and SKUs standard cost basis.
 Implement review mechanism of raw and packaging materials prior purchasing to highlight material coverage days upon delivery to eliminate possible risk of slow moving and obsolescence.
 Implement budget tracking of sales spending in particular key accounts policies and procedures.
 Propose and implement changes on sales target collection basis and salesmen commission scheme.

Reporting to the CEO, managing a team of 17 members in head office and branches, Nashar is a market leader in canned natural cream & ghee. Key responsibilities and achievement are as follows:
 Directing financial planning and strategy;
 Analysing and reporting on financial performance, and IFRS conversion;
 Overseeing audit and tax/Zakat courses;
 Developing and implementing accounting policies, and managing internal controls;
 Analysing sales channels performance to optimise “Cost to Serve” ratios;
 Training accounting staff;
 Reviewing departmental budgets;
 Assessing, managing, and minimizing risk;
 Analysing complex financial data;
 Preparing forecasts, comprehensive budget and sensitivity scenarios analysis;
 Treasury management and foreign currency hedging (i.e. Euro “TRF” deals).

Key achievements are as follows:
 Design and implement policies & procedures, process mapping, and authority matrix (i.e. AR & Sales, AP & Inventory, Fixed Assets, General Ledger, Cash & Banks, Budgeting & LoA);
 Leading the ERP and Sales Forces Automation implementation project (Microsoft Dynamics AX 2012 and Sales Buzz), and HR automation project (MenaMe system implementation);
 Restructure the balance sheet for tax/Zakat purposes, improve working capital cycle by 60%, reduce Zakat liability by 75%;
 Negotiating lower borrowing rates with banks, by 18% and reducing borrowing level;
 Rebuild the finance and IT teams consist of 17 members, through on job coaching and recruitment/ layoff, improve Sudisation ratio to reach 25%;
 Restructure manufacturing costing to support pricing decisions and products profitability;
 Support the CEO, in investment project appraisal and main suppliers’ negotiation.

Reporting to the CFO, managing a team of 25 members in head office and branches, leading the finance function in Saudi business unit includes two legal entities for manufacturing and distribution companies, Plaids Global Co. - Godiva, McVities & ÜLKER is a leading player in confectionery industry.

Key responsibilities and achievements are as follows:
 Prepare business activity reports, financial statements, and forecasts;
 Make sure statutory financial requirements are met. Prepare consolidated accounts;
 Developing financial reporting systems;
 Maintain up to date financial system knowledge;  Find ways to reduce or maintain costs by studying financial reports and business process;
 Analyse products profitability/cost structure to discover business opportunities and maximize profits;
 Support management financial decisions.

Key achievements are as follows:
 Design and implement policies & procedures, and process mapping (i.e. accounts receivable, accounts payable, fixed assets, general ledger, cash & banks, and budgeting);
 Leading the implementation of the ERP finance module (JD Edward);
 Restructure the accounting treatment of consolidated accounts;
 Choco Sandwich “SKU” profitability improvement by 4%, through down-sizing product grams from 25.0g to 22.5g (project team includes finance, production & marketing departments).

Assigned for Arabia Cluster which includes Afia International Co. and United Sugar Company, since 1 December 2011. Arabia Cluster has generated worth U$ 1.7 Billion turnover from producing in basic commodities of branded bottled edible oil and sugar in Gulf and Levant counties.

Since March 2006 till November 2011, assigned for Savola Foods Group as Group Corporate Accounting Manager. Savola Foods has U$ 3.5 Billion turnover generated from producing in basic commodities such as branded bottled edible oil and sugar in 9 counties.
Reporting to group CFO, where main achievements are as follow:

 Leading and managing financial/tax due diligence of Turkey acquisitions (valued for U$ 70 million), including preparing the scope of work “Agreed upon Procedures”, coordinating with consultants and target management;
 Leading the standardisation of accounting treatment and presentation of financial information across the subsidiaries;
 Developing financial policies, systems & procedures, and coordinate with subsidiaries’ finance managers for implementations;
 Preparing processes mapping for Raw and White Sugar hedging, procurements, and accounting treatments;
 Reviewing and implementing group chart of accounts in subsidiaries’ ERP implementation;
 Handling consultants’ requests for valuation & prospectus preparation of Afia’s IPO project.

Responsible for conducting investigative financial due diligence (i.e. M&A deals) analysis of targeted companies, assessing the key issues facing the business and the drivers behind maintainable profits and cash flows, identifying the key financial risks and potential deal breakers of the transaction. Preparing and writing English financial due diligence reports for number of business acquisitions (transactions valued from U$ 20 to U$ 450 million) in various industries (inc. petrochemical, fertilizer, constructions developer, food processing, cans manufacturing, stock portfolio management, stock brokerage services, textile, poultry & others).

In printing industry, responsible for all the company’s management accounting aspects up to preparing statutory accounts, cash flow and business projection, reporting to the operation manger.

Chartered Accountant and Taxation Practitioners
Responsible for a portfolio of clients that included limited companies, partnerships, and sole-traders. Helping the tax department during the busy periods and handling middle eastern client matters.