Finance Manager
Al-Khodari Investment Holding Co. - Group of Companies
مجموع سنوات الخبرة :20 years, 8 أشهر
• Determining financial objectives. Designing & implementing systems, policies & procedures to facilitate internal financial control.
• Build strong relationships with banks and financial institutions.
• Handling multiple projects with a value of SR 700 Million.
• Preparing Feasibility Studies, Highest & Best Use Study (Financial Appraisal) for different projects with total value of SR 300 Million.
• Preparing annual budget and forecasting trends.
• Developing reports for top management summarizing the business financial position in areas of income, expenses, capital usage and cash flows, and coordinate the preparation of strategic plans, budgets and financial forecast.
• Developing and updating accounting, finance and management policies and procedures.
• Implementing ERP system (Microsoft Dynamics AX) and delivering training to accounting staff.
• Review and approve the day to day activities of finance and accounting department.
• Negotiating with financial organizations and individual investors after thorough conferencing to acquire finance.
• Manage the lease negotiations including, but not limited to renewals, expansions, re-locations, and build to suit transactions
• Creating and managing facility budgeting, planning and strategy as well as overseeing all tenant improvements, capital improvements, build to suit projects including solicitation of bids and contract approvals
• Coordinate the monthly, quarterly & fiscal year-end financial reporting and budgets including variance reports, reconciliations, capital expense summaries and periodic forecasting
• Taking entire responsibility for the planning of financial issues and sales, rental agreements of the company's growth and construction matters.
• Established and maintained a system of internal controls that accurately keeps track of transactions and fairly represents the financial status of company.
• Arranged the annual engagement of external auditors who examine the financial records of company.
• Established internal financial accounting systems that provide incentives for, and information about, the attainment of company goals and objectives.
• Implemented ERP system (Microsoft Dynamics AX) that accurately serves the financial records of company and reduces work papers flow and procedures by 30%
• Carried out internal audits to ensure regulatory compliance and operational efficiency and accuracy.
• Provide first level approval of cheques and submit them along with payment vouchers for final signature and approval as per the authorities’ matrix.
• Controlled over 100 Projects with turnover of SR 150 Million.
• Managed and developed finance department to achieve established objectives.
• Prepared the annual budget and working with various department heads to review historical activities, trends and future obligations.
• Identified budget issues, provide alternative solutions, and resolve problems.
• Provided instructions and answered questions relating to budget procedures and served as liaison between the Board of Directors and Department Heads.
• Interacted with the Board of Directors and CEO concerning financial forecasts and reports.
• Managed month-end closing cycle. Organized process and procedures to support 40% reduction in month-end close from 10 to 6 days.
• Responsible for due diligence procedures.
• Prepared monthly consolidated financial statements and financial analysis reports, including distributing monthly P&L report to each Business Line Manager.
• Built and developed external relationships with appropriate contacts (auditors, bankers and statutory organizations)
• Developed accounting policies and procedures in compliance with International Accounting Standards and local regulatory requirements (Zakat issues, depreciation rates and filing issues).
• Responsible for planning and managing activities pertaining to the Accounting Department.
• Managed all activities relating to the accounting function including; opening new accounts, approval of accounting entries, chart of accounts validation and consolidation.
• Verified the accuracy of the accounting transactions by reviewing and approving the daily
and periodic work of Accountants in preparing all vouchers, general ledger entries, entries
posting, accounts payables, accounts receivables, fixed assets, account reconciliation,
monthly trial balance, accounting and financial reporting activities.
• Manage, review and oversee physical counts, Fixed Assets Register, fiscal inventory.
• Coordinate and facilitate periodic audits with internal and external auditors by arranging meetings, providing the required information and reports, necessary clarifications, etc.
• Periodically review general ledger entries, to check accuracy and compliance with the established rules and accounting principles and that all entries are supported with valid documentation.
• Oversee and approve the petty cash disbursement, replenishment and reconciliation.
• Manage allocated annual departmental budget by controlling expenditures, cost reduction initiatives and reporting variances versus budgeted, to ensure effective cost management practices.
• Provide guidance and leadership to all departmental staff to achieve agreed upon targeted goals and objectives.
• Oversee the company warehouses in Riyadh, Jeddah and Dammam.
• Reviewed, analyzed and updated standard costs, product margins and cost variances; suggested and deployed actions to improve revenue and profits.
• Developed responsibility accounting review system to compare actual financial performance to plan and provided each regional manager with reports and analysis
• Prepared monthly financial reports (Income Statement, Balance Sheet and Cash Flow Statement).
• Prepared monthly analysis reports to Financial Controller and GM.
• Prepared quarterly analysis reports for internal audit department.
• Preparation of wages and salaries (Payroll).
• Responsible for banks and preparing bank reconciliations.
• Responsible for L/G and L/C
• Responsible for A/R, A/P and purchase orders.
• Follow up on collection and coordinate with collection department.
• Responsible for sister company accounts and preparing monthly reconciliation.
• Monitor sales transaction and W/H stock report.
• Recorded daily transactions (Journal Entries).
• Responsible for petty cash accounts and prepared monthly reconciliations.
• Responsible for accounts receivable and payable.
• Responsible for prepaid expense and accrued expense accounts.
• Prepared salaries (Payroll)