Financial Consultant
Freelance
Total years of experience :32 years, 0 Months
Working as a Financial Consultant in many places providing consulting services in Finance and Accounting, systems implementation, Business Analysis and Financial Analysis .
Two of them was agricultural companies .
It is a family business company consists of two main sectors, Foodstuff and Electrical and plumbing tools, I added medical sector later .
Position : CEO ( Chief Executive Officer ) Reporting To Board Council.
Duties include but are not limited to:
Regarding Strategic section .. determining annual gross-profits plans by forecasting and developing annual sales quotas; projecting expected sales volume and profit for existing and new goods; analyzing trends and results; establishing pricing strategies; recommending prices; monitoring costs, competition, supply and demand .
Regarding finance section .. the accounting and finance cycle been restructured and Dynamic AX ERP was implemented .
Regarding admin section .. created excellent policy and procedures .
Regarding commerce section.. the medical sector was added and the company imported through its own brand names .
Regarding partners and stakeholders .. built trust relations with key partners and stakeholders and act as a point of contact for important shareholders
Created an electronic balanced scorecard model and trained department’s headers for using.
(Efforts resulted in significantly more efficiency in performance evaluation& accurate reporting and forecasting)
Designed new processes/procedures, operational authority matrix to streamline business activities and provided inputs for enhancing the efficiency of financial and nonfinancial activities.
Reviewed & advised risk management reporting & disclosure requirements for board of directors.
Topics Related to Banking Activities:
Interacts with Banks/Financial institutions for credit facilities/lines including the negotiating to obtain best conditions, terms and best rates in the market along with minimum risk.
Maintaining relationships with banks at an efficient level.
Monitoring Bank file and reporting about the facilities usage flow.
Manages all transactions relating to Import and export Letters of credit and LG’s.
Topics Related to Treasury Function:
Scrutinize the policy/procedures of Treasury and made amendments to avoid any gaps and communicate the new policy/procedures for all related parties and unified the vision through goal congruence aspect.
Monitoring the cash Management operations, duly ensuring the optimum utilization of funds and maintain the cash forecasts and funds flows on an ongoing basis.
Devising and implementing all aspects of financial analysis and reporting to optimize cash flows, as well as managing investments and working capital requirements.
Topics Related to Strategic and Analysis aspect:
Sharing in the Preparation of long term Business Plan, periodic financial analysis, monthly, quarterly and annual consolidated financial statements, budgets, forecasts & AD-Hoc reports.
Provide comprehensive financial expertise for business decisions by analyzing ROI, ROA, discounted cash flow, capital appropriations requirements, investment opportunities & Investment performance.
Managed investments and working capital requirements, advised higher management on optimal utilization of financial structures and proposed financial strategies with emphasis on financial management, systems and procedures to maximize profit and control cost.
Modifying the payment mechanism and re-assign the payment authorities through written polices and procedures and communicating the new system to related parties to avoid the non-value adding expenditures in all areas and following a sharp and clear system, shrinking the exceptions to the lowest level.
Ensure all applicable insurances are in place to protect company assets.
Set-up suitable financial controls, processes and methodologies and ensure adherence to the same on continuous basis.
Spearheading the development and implementation of financial policies, systems, procedures and guidelines to ensure smooth cash flow and budgets.
Amending the credit limit for account receivables and establishing a grade for each one and keeping the aging report level at the best level and connecting the schema of commission and bonus to the collection in effective manner . ( The Bonus of the sales divisions mangers calculated according to the ROA for each division .
Topics Related to Reporting aspect:
Provide all internal financial reports for the GM and other senior management with assessment of the financial performance of each division.
Establishing comprehensive guideline and schedules for KPI reporting using the Balanced Scorecard method resulting in improved financial performance, heightening productivity and enhanced internal controls.
Topics Related to ERP aspect:
Cooperating with IT to achieve the maximum utilization of the ERP by Activating the idle options such as : Intelligence reporting and report generators modules and .
Played key role in the systems analysis, business process
Duties include but are not limited to:
Formulating strategic and long-term business plans
Implemented and maintained accounting systems, policies, procedures in coordination with organizational goals and objectives.
Assessed comprehensive strategy to integrate financial goals, including risk management and investments.
Analyzing competitors and market trends.
Restructuring of the financial & accounting systems in the agricultural sector as follow :
Establishing New System to insure the group is competent to achieve its key strategic goals by developing annualized operating budgets by division as a part of comprehensive budget and establish a monthly updated forecasting mechanism for management review.
Then Undertake detailed analysis of the monthly management reports highlighting weaknesses and variance from budget and making recommendations for improvement.
Creating agricultural costing system... (Making system analysis then there was full system flowchart submitted to our sister company (IT Systems) to create new costing module .
Spinoff Cargo Co. to be fully independent and designing and monitoring all accounting systems, documentary cycle, system analysis, Team Selection & coordinating with IT Co. Supplier to build new system to be fitting with the requirements of the new activity and in the same time to be homogenous with the main modules. for consolidation reporting purpose .
Spinoff Cooling Co. (Cooling Storing)... (The same scenario was iterated as Cargo Co.)
Prepare instruction manuals and guides for easy reference by personnel and to ensure clarity on every step of the accounting process ( For each company and for the group as a whole )
Duties include but are not limited to:
Manage the accounts, budgets and financial activities of the different operations divisions to meet the information needs of management, the group, government and statutory bodies.
Streamlined monthly, quarterly and annual reports, presented tailored financial business planning and budgeting to board of directors in order to facilitate decision-making.
Direct functional counterparts in operating units as required, and to operating and senior management on matters involving cost determination problems, or issues such as inventory valuation, cost center labor rates and distribution of overhead and product pricing.
Creating full manufacturing Costing system for the marble factory (Zomorodah)/ Petroleum Services Co. (TTS) and Construction Co.
Participate in the development of long-range financial forecasts & related budgets, perform variance analysis to compare budgeted figures to forecasts (Profitability Analysis) & consider alternative scenarios & economic prospects as appropriate to ensure accurate forecasting is achieved.
Liaised with the company auditors and relevant government authorities to identify the best channel and follow-up legal and governmental transactions so as to maximize organizational growth.
Enforced compliance with government procedures (Sales tax, Income tax, Social Security …etc.) for minimal disruptions.
The basic tasks that was fulfilled:
I was responsible for the implementation of all accounting and non-accounting modules.
Prepare and review cost and margin analysis for all jobs. Develop a strong working relationship with management as well as other personnel to facilitate resolution of issues and problems.
Creating a manufacturing Cost System for new diary factory and developing the existing agricultural system.
Direct budget and forecasting activities including cash flow management.
Streamlined monthly, quarterly and annual reports, presented tailored financial business planning and budgeting to board of directors in order to facilitate decision-making.
Analyze and review monthly accounts and develop commentary in conjunction with Affiliates’ finance teams as to variations to benchmarks for all Product Divisions .
I was responsible for Arabian Network Accounts “ Naseej “ and shared in the analysis of subscribers Invoicing systems that have been designed for the net by the Co.’s programmers by visual basic. And was responsible for the practice. Also for the practice of the new accounting system for the company . converting the data directly to the new system ( power builder ) with Sybase then holding all accounting activities (Payroll, Fixed Assets, Cash Flows …… etc )
I charged among many duties during this period (Acct. Receivables, Payable, payroll, .etc.) and I was selected in the team that assigned for implementation the new ERP system in all branches in kingdom and making link among branches and factories and head office to produce immediate consolidation reports covering the food sector in the kingdom.
Special financial analysis reports covering all financial aspects.
It is a small trading Est. importing leather products to be marketing through its wholesales offices and its exhibitions .
Junior Accountant Also got training about 6months in Food Control Dept.
CMA
1989 Bachelor of Commerce , Accounts Section Cairo University .. Egypt