Financial Planning and Budgeting Team Lead
Saudi Electric Company
Total years of experience :18 years, 10 Months
- Establish the Financial Planning, Analysis and Budgeting function in Finance, supporting Finance Function from transactional to a steering organization.
- Design and implement the new budgeting function, enabling Finance to enforce cost discipline and financial performance targets on all Business and Corporate Units, with the aim to achieve management objectives.
-Establish and lead the Financial Planning and Analysis Function of the Company, effectively interfacing and linking it with Strategic Planning, Business Planning and Capital Planning functions.
-Build in house capabilities for Financial Forecasting of up to 15 years, supporting Strategic Planning and Business Planning Functions. (For both at Consolidated and Business Unit Level)
-Build in house capabilities for performing economic and financial evaluation of Capital Projects of Generation, Transmission and Distribution Business Units.
-Lead the project team for implementing, managing and executing the Integrated Planning Model of ICF International.
-Provide analysis support for IPP evaluations and different joint venture and new business investment proposals.
Perform all activities to support PPIBs mandate for the development of power infrastructure by analyzing and reviewing feasibility studies and tariff determinations of the power projects and preparing; Pre-Qualification Documents, Request for Proposals, Advertisements for International Competitive Bidding and Evaluation of Statements of Qualifications and Proposals etc.
Review term sheets and legal documents of the financing facilities availed by the power projects and assess their coherence with the approved tariff structure, feasibility and other Government requirements.
Conduct correspondence with various regulators and stakeholders of the Power Sector to streamline achievement of key project mile stones and resolve issues between the Power Producers and the Government entities and agencies.
Review and approve working capital funded and non-funded financing requirements of the Power Producers and ensure that the structure and documentation of such financing facilities remain in compliance with Government requirements.
Monitor affairs of Power Companies under Implementation Agreement, Power Purchase Agreement and Fuel Supply Agreement/Water Usage Agreement, in coordination with Government agencies.
Resolve contractual issues between the Government and Power Producers by developing and implementing solutions in mutual consensus with all stakeholders.
Prepare and review power tariff models and basis of determination and adjustments prior to their submission for approval to National Electric Power Regulatory Authority (NEPRA).
Ensure compliance of the Power Producers with the requirements of the Government, from time to time and devise measures to monitor and rectify non-conformities effectively.
Conduct comprehensive operational, financial and legal due-diligence of transactions.
Assess CAPEX and OPEX funding requirements, formulate financing plans and structure appropriate mode of financing.
Manage advisory and financing transactions for; Greenfield ventures, BMR and Expansion phases, Balance sheet restructuring and Acquisition and Mergers.
Develop business and financial models for structuring and testing credit financing, private equity investment, balance sheet restructuring, M&A and other transactions.
Negotiate and structure debt finance facilities in accordance with project requirements, money/capital market conditions, obligor and transaction risk profile and overall conditions in the corporate and investment banking sector.
Present transaction proposals to Internal and external credit & investment committees for approvals.
Ensuring completion of legal documentation as per approved transactions terms and conditions and ensuring completion of all conditions precedent prior to financial close.
Ensure compliance of structured financing proposals with the internal organizational policies and regulations of the State Bank, Securities and Exchange Commission and other Regulatory bodies.
Review, revise and prepare policy framework and business manuals and guidelines on maintaining meticulous compliance with Internal and External Regulations.
Co-ordinate with Audit and Inspections teams from External Auditor and Regulatory Bodies. Provide them with information and explanations and clarify their raised observations.
Prepare Financial Statements for a wide range of clients, as per financial reporting standards and internal guidelines for submission to the Registrar of Companies and Inland Revenue.
Preparation of Business and Financial models.
Plan and Conduct Audits - Evaluation of; Internal Controls and Procedures, applied Accounting Policies and Conformity of the Books of Accounts with the Companies Ordinance etc...
Consultancy Services to the clients for maintaining proper Books of Accounts, Management of Payables, Receivables, Assets, Inventory and Payroll etc...
Implementation of Accounting packages/solutions and their operational procedures.
Management Reporting/Accounting Services such as Budgeting, Variance Analysis, Standard Costing, Job Costing, and Operational Cost Allocation etc.
Sales Tax, Income Tax and Corporate Tax Assessment and Tax Planning Services etc.
UNIVERSITY OF BRADFORD - SCHOOL OF MANAGEMENT, Ranked No. 2 Business School by Financial Times 2005/2006 One of top 58 Universities worldwide accredited with EQUIS, AMBA and AACSB (Triple Crown)
Completed all exams in first attempt by August, 2005. Completed practical experience requirements by December, 2012. Awarded Full Membership in February, 2012.
