Cost Control Manager
HUTA MARINE WORKS LTD
Total years of experience :25 years, 10 Months
Sister company of Saudi Bin Laden group, a leading Group providing construction, marine works and industrial services to the energy, infrastructure among other sectors. Was hired as Cost control Manager to manage all projects budgeting
•Full responsibility for costing sheets management for the overall Marine work business in & out KSA.
Trusted advisor in the KSA leadership teams through participation in business planning, account planning, reporting, controls and compliance.
•To circulate the actuals v/s planned to all cost center owners and challenge cost center owners on cost assumptions and update them on a monthly basis of cost over runs with a view to flag significant deviations if any and segregate phasing over permanent impacts
•Leading the process around development of the Annual Plan.
•Driving the P&L management within the fiscal quarter and over a rolling 12 month cycle including forecasting and planning of quarterly, annual and long range Implemented a financial reporting system to monitor performance; the flow of funds, adherence to the budget, expenditures, income and other budgetary items, including KPI Monitoring.
•Ensuring strict adherence to key compliance, business controls and policies required to execute business in line with HUTA’s ethical standards
•Influencing change across broad areas of HUTA, by working with and leading a number of key initiatives.
•Oversee the evaluations of existing projects to avoid any deviations.
•Oversee the evaluation of new project bids to provide an assessment of project related financial & operational risks, cost estimates, and margins.
•Controlling all statutory & regulatory reporting.
The company works in processing of Smoked Fish Salmon and Semi-Cooked Fried Seafood in two separate parallel production lines with an annual turnover of 20 Million EGP, market capitalization of over 45 Million EGP, workers of over 650 and a production capacity of over 75, 000 tons/year.
•Product Costing with special emphasis on variable cost. E.g. primary & secondary freight, electricity etc.
•Analyzing process losses & pointing out inefficient areas for improvement
•Control almost 100 tenancy agreements.
•Funds and treasury management
•Monthly closing including accruals, deferrals, etc.
•Liaison with banks and handling all banking matters
•Reviewing Bank Reconciliations
•Reviewing & processing supplier’s method of payment as per Standard Operating Procedures (SOP’s). Addressing vendors queries in a timely manner
•Fixed Assets reconciliation, tagging, and reporting
•Tax reporting (withholding & sales tax)
•Liaising with auditors to ensure annual monitoring Carrey out of hard close and y/e close in a timely and efficient manner, with full preparation of all requested schedules prior to commencement of fieldwork. Act as the first contact point during any internal or external audit and ensure complete follow up on any recommendations raised
•Managing stock counts and reconciled the differences
•Payroll processing of contractual staff
•Landed cost analysis
•Liaison with vendors
A family business started 1980 for manufacturing of denim garments products, since 2000 started as a global industrial trade partnership with European and American traders for brands as ZARA, H&M, Colin’s, LCW, Celio, Levies, Bershka etc.. With the highest quality standards specializes in denim wear products.
•Providing and interpreting financial information includes preparing Monthly Management Accounts/Reports (MIS) on timely manner.
•Preparation & analysis of periodic financial statements including profit & Loss account, Balance sheet, Cash flow, & commentaries
•Monitoring and interpreting cash flows and predicting future trends includes daily working capital management, & monthly cash forecasts/analyzing changes and advising accordingly.
•Formulating strategic and long-term business plans includes preparing feasibility studies keeping in view new business ventures. CAPEX Evaluations
•Researching and reporting on factors influencing business performance
•Analyzing competitors and market trends
•Developing financial management mechanisms that minimize financial risk
•Conducting reviews and evaluations for cost-reduction opportunities
•Managing company's financial accounting, monitoring and reporting systems
•Liaising with auditors to ensure annual monitoring carried out, Smooth closing of hard close and y/e close in a timely and efficient manner, with full preparation of all requested schedules prior to commencement of fieldwork. Act as the first contact point during any internal or external audit and ensure complete follow up on any issues/recommendations raised
•Developing external relationships with appropriate contacts e.g. auditors, solicitors, bankers and statutory organizations
•Oversee the timely, complete and accurate closing of month end process for all companies. Remained a key provider of technical support to the business on all financial accounting matters
•Monthly reconciliation of all B/S accounts ensuring, signed, by the CFO accountability, reconciliations updated each month. Providing clear visibility of any exposures ahead of time. All journals requiring CFO sign off are obtained and filed
•Preparing annual budgets, and monitoring on monthly basis, with special emphasis on Variable costs, & Sales. Preparation of Mid-Year Rolling Forecasts keeping in view current business scenario
•Keeping abreast of changes in financial regulations and legislation
•Develop and support IT Strategy for the operation
Sister company of LAKH investment group, which is mainly specialized in construction for medical field (Turnkey Projects) construction, foundation, Supply and maintenance of medical equipment’s acquire the largest medical equipment’s agencies (DRAGER - respirators & Incubators / HP - X-ray’s / Toshiba - CT scans / etc..) which are the authorized representative / agent in the Middle East
•Maintain and manage all financial records, logs, spreadsheets, and registers
•Ensure conformity of company’ bank account with IFR Standards. Reconciling of bank statements against the GL, and clearing accounts assigned
•Provide inputs and advices recommendation changes that will maximize revenue and profit
•Ensure financial position of the company is well calculated daily
•Check cash transactions, investigate and propose possible resolution for any discrepancies
•Responsible for interest and debt analysis, with provision of relevant information
•Take care of the cash management system of the company and their payment mechanism
•Responsible for following up on financial proceedings and ensuring tasks completed as schedule.
•Ensure the coordination of the statutory audit, year in year out, and resolve all possible queries
Authorized agent dealing in SONY Electronics products - Egypt with an annual turnover of 10 Million EGP, market capitalization of over 40 Million EGP, a manpower of over 100
•Monthly closing including accruals, deferrals, etc.
•Liaison with banks and handling all banking matters
•Reviewing Bank Reconciliations
•Reviewing & processing suppliers’ payments as per Standard Operating Procedures (SOP’s).
•Fixed Assets reconciliation, tagging, and reporting;
•Tax reporting (withholding tax & sales tax reporting);
•Prepare necessary schedules for statutory audits and internal audits
• Follow up and collect audit requirements from different departments as per schedule
•Took part in stock counts as a finance representative, and reconciled the differences
•Payroll processing of contractual staff
•Landed cost analysis
•Liaison with vendors
Class “A”