Financial Manager CFM/CertIFR
Al munif Packging
Total years of experience :14 years, 11 Months
Responsibilities:
1-Planning, Studying, and collecting data to determine costs of business activity such as raw material purchases, inventory and labor.
2-Analyzing changes in product design, raw materials, manufacturing methods or services provided, to determine effects on cost.
3-Analyzing actual manufacturing costs and preparing periodic reports comparing standard costs to actual production costs.
4-Making estimates of new and proposed product costs.
5-Apportion costs between manifold units of production (cost centers) .
6-Conduct ongoing pricing, cost and gross margin reviews with management for all products and customers to correct sub-standard margins.
7-Analyse the cost of products, and show the expenses that lead to increase the product cost.
8-Provide commentary and analysis of costs against Budget and previous month’s forecast.
9-Created and refined policies and procedures on inventory control, cycle count and physical inventory.
10-Product manufacturing analysis, and inventory valuation .
11-Summarizes current financial status by collecting information, preparing balance sheet, profit and loss statement, and other reports.
Achievements:
1-Increase profitability by SR 1, 500, 000 SR after the right direction in selling products and customers with high profitability .
2-Saved 1, 000, 000 SR a year in manufacturing costs .
3-Analyzing actual manufacturing costs and gross margin for more than 3000 product .
4-Apportion costs between more than 12 cost centers and analyse the gross margin for Each cost centers .
5-Profit analysis by customer (+1000 customers) activities . sales man, area and product group .
Responsibilities:
1-Spearheaded the development, improvement and refinement of credit policies, procedures and strategies to enhance the company's risk management platform.
2-Reviewed credit applications of current and prospective customers, approving accounts and assigning limits up to 3, 000, 000 SR, recommending higher limits to upper management for approval.
3-Supervised invoice processing, credit memos and payment transactions.
4-Collaborated with the CEO, And sales manager to revamp and innovate bonus structures to enhance and generate maximum performance.
5-Managed all monthly and yearly reporting for credit and receivables .
6-Negotiated payment plans when necessary and take legal action with customers who fail to pay.
7-Assist sales team to ensure finance and sales numbers are reconciled
Developed long term employees to achieve supervisor level.
8-Provided reliable and accurate information to internal / external auditors and management that facilitated preparation of year-end financial statements.
9-Developed "hold" procedures so delinquent customers could not be serviced without management approval resulting .
10-Reviewed collection reports to determine the status of collections and the amounts of outstanding balances.
11-Analyze Overdue accounts and prepare report on high risk accounts including recommendations for resolution .
12-Working with management to develop annual sales plan goals.
Provide support to ERP users and solve the problems they face.
Achievements:
1-Founded Credit Department, developing policy and procedures for all facets of credit and collection.
2-Improved DSO from 120 days to 60 days which dramatically improved cash flow by 10 million SR
Significantly reduced bad debt from 2009 - 2018.
3-from 2% of gross sales to 0.02% of gross sales .
4-Decreased past due receivables by over 95% within one year.
5-Reconciled over 6000, 000 SR in Aged Receivables within a 24 -month period contributing to positive financial standing.
6-Coordinated with sales and distribution departments in the implementation of driver delivery procedures that reduced a major client's unpaid invoices by 99%.
7-Obtained and evaluated credit information about prospective customers.
8-Maintained 100% accuracy in calculating discounts and commissions.
Bachelor’s Degree (B.A.) in Accounting 2008