CFO
Al Dhow for Environmental Projects
Total des années d'expérience :20 years, 7 Mois
Al-Dhow activities are designed with a clear focus on saving the environment in Kuwait with integrated solutions to Air, Water, Solid, and Hazardous Waste Management. AL Dhow is the parent company of three profitable manufacturing entities operating in aggregate production and trading, two are in Kuwait and one in UAE. Al Dhow has environmental contracting division specialized in delivering unique integrated ECO solutions to governmental, local and international clients.
- Plans, organize and direct the financial management of the entity and activities of the finance department.
- Ensures that internal control systems, policies and procedures are adequate and fully functional. Including performance reviews, analysis of performance indicators, controls over information processing, physical controls & segregation of duties.
- Report financial results to the board of directors and answers pertaining queries.
- Ensure that management directives (including BOD minutes of meeting) are executed and actions are taken to address risks affecting achievement of objectives.
- Ensuring timely issuance of interim & yearend financial statements.
- Manages systems for budgeting, financial planning, and performance measurement.
- Setting recovery plans in case of variances.
- Recommends required policy updates.
- Controls and secures defined level of liquidity and monitors cash flow.
- Capital expenditure evaluation.
- Close involvement in commercial negotiations with major customers/vendors.
- Manage the development of bids (including financial model) for all kinds of tenders.
- Ensuring compliance with all statutory bodies requirements.
Financial accounting & Reporting:
•Maintains a thorough understanding of the financial reporting and general ledger structure.
•Evaluating and streamlining process and systems, developing and implementing policies and procedures to achieve operational efficiencies.
•Set up financial dashboard & KPI used in operational reviews and executive management reviews.
•Supervise the preparation of company's financial statements in accordance to latest IAS & IFRS.
• Liaison with the Company's independent audit firm, providing guidance in the conduct of the annual audit.
•Keep abreast of current & latest development in financial accounting international standards.
•Supervise the preparation of general assembly agenda, timeline and minutes of meeting.
Internal Control:
•Ensure that risks (Operational, Financial & Strategic) are appropriately identified and managed.
•Ensure that resources are acquired economically, used efficiently, and adequately protected.
•Ensure that plans & objectives are achieved.
•Ensure that significant information is accurate, reliable, and timely.
•Ensure that significant regulatory issues are recognized and addressed.
Budget:
•Manages the preparation of annual comprehensive budget.
•Prepares five year statement of income projections.
•Prepares five year statement of cash flow projections.
•Provides expert and professional assistance and support to management and staff on budget and other related matters.
•Analyzes revenue and expenditure variances relative to the adopted budget and incorporate it to the monthly management reports including recommendations. Treasury:
•Manage cash effectively & efficiently by decreasing CCC through speeding up collection and obtaining best credit terms.
•Ensure availability of adequate cash to fund operational & investing requirements.
•Forecast daily cash requirements and execute daily financing decisions.
•Evaluate, develop and implement
all financial and accounting operations & review the preparation of the month end closing & ensures proper maintenance & integrity of all ledgers, journals & other records are correctly compiled with.
•Ensure periodical, complete and accurate financial accounts and management reports are prepared monthly.
• Keep abreast latest developments in professional practices related to departmental activities and advise departments accordingly.
• Negotiate insurance arrangements for the company and ensure that claims are settled promptly.
•Review bank reconciliation statements and order follow-up action where required.
•Prepare management reports to CFO in writing, reviewing actual results monthly, including making comparisons with budgets, identifying, explaining and clarifying variances and proposing remedial action where relevant.
•Set and approve standards and procedures for recording the company’s financial transactions.
•Recommend accounting policy and procedures for all areas of the company activities.
•Periodically review for adequacy the internal control over accounting systems.
•Identify level of risk and safeguard assets from unauthorized use or reduction in value.
•Ensure that a good management accounting system is installed to record, analyze and monitor company resources & financial transactions.
•Maintain a system for setting and approving income and expenditure budgets for all company activities.
•Ensure that financial information in capital investment proposals is properly stated and that proposals are realistically approved and their implementation controlled, appropriate capital costing data is prepared and the company fixed assets and inventory records are maintained.
•Develop and keep up to date a chart of accounts.
•Liaise and co-operate with external auditors, ensuring that the audit is carried out efficiently and economically and that corrective action is swiftly taken to eliminate any weaknesses or deficiencies that are identified.
•Plan, monitor and control the company’s financial resources in order to meet its objectives using annual cash flow projections prepared monthly
•Prepares & ensure the timely submission of financial information.
the day-to-day accounting activities to ensure timely, comprehensive and accurate accounts in accordance with the law and the Company’s approved policies and procedures.
•Supervises and closely monitors the work practices and procedures of accounting department personnel to ensure timely accurate and updated quarterly and annual accounts.
•Ensure adequacy of authority for all financial transactions and also approves for accounting accuracy, all accounting transactions processed in accounts.
•Makes available all accounting information for preparing financial reports, MIS and financial analysis reports and clarify on any issue arising thereof.
•Acts as the resource person for all departments and staff on accounts related matters.
•Guides and trains accounting department personnel, in effectively carrying out their responsibilities.
•Create PowerPoint presentations summarizing the results of analyses and present the results to senior management.
- Interacts with auditors to ensure time audit completion and resolve all audit related issues.
the inventory system with integrity and standardization.
•Coordinate physical inventory counts.
•Investigate counting variances and resolve issues.
•Accumulate and apply overhead costs as required by the IFRS.
•Compare standard with actual costs and recognize the over/under applied.
•Validate the cost of goods sold as part of the month-end close.
•Prepare monthly breakeven points report in quantity & KD.
Zara Investment (Holding) Co. (Listed) - Jordan
Zara Investment (Holding) Co. is a Jordan-based public shareholding company that, together with its subsidiaries, operates a number of hotels and holiday resorts across Jordan.
for the accounts of six (6) out of the eighteen (18) investment companies within the ZARA group.
•Keeping an eye on the operations of my designated hotel, through monthly reconciliation of the owner's current account with the hotel and ensuring operations are within budgeted targets.
•Duties include managing the accounting needs of these companies such as journal vouchers; preparation of checks; bank reconciliations; payroll; tax withholdings; FF&E.
•Synchronize the accounts with the Mother company and the other Sister companies.
•Preparing quarterly Inter Company Account Reconciliation between Mother Company and its subsidiaries.
•Assisting auditors as required.