senior executive
New Financial Flow Investment Company
Total years of experience :31 years, 3 Months
New Financial Flow Investment Company August 2006 - Present
Major Duties and Responsibilities:
Develops and implements accounting policies, coordination of systems and procedures and to the preparation of operating data and special reports as required including interim and year-end financial statements.
Establishes, coordinates and administers as an integral part of management, an adequate plan for the control of operations including profit planning, programs for capitals investing and financing, sales forecasts, expenses budgets and cost standards, together with necessary controls and procedures to effectuate the plan.
Maintaining the company’s systems of accounts and keeps books and records on all company transactions and assets.
Assures protection of the assets of the business through internal control, internal audit.
Serves as a liaison between the company’s legal counsels.
Recommends the appointment of the independent public accountants and overseeing their audit work.
Provides advice on all matters to the managing Director and the president and to board’s
of director as well.
Compares performance with operating plans and standards, and reports and interprets the results of operations to levels of management.
Assists marketing in establishing and maintaining product and services pricing policies.
Coordinates with the External Auditor who audits, reviews and issues consolidated Balance Sheet for the whole group in conformity with generally accepted accounts principles
Maintains the good relations with banks, vendors and clients.
Performs other duties related to my position as may be requested by the General
Manager.
Provides other mangers and departments with information required by them to carry out their assigned responsibilities.
Supervises or coordinates the preparation of reports required by government agencies.
Supervises the work of finance mangers of all the subsidiaries of the company and consolidate the financial statements and reviews the financial ratios and prepares the yearly financial report and recommendations to board of directors.
Prepares the company group budgets on yearly basis for submission to the General
Manager.
Al Faisaliah Group (AFG) is a major diversified enterprise based in Saudi Arabia and established in 1970, the Group is among the top 20 Saudi companies.
AFG operates in six major sectors: food and beverages, consumer electronics, medical equipment, measurement and media equipment, IT and communications, entertainment and multimedia, and specialty chemicals. It boast's of a staff compliment of 5, 000 people.
Responsibilities:
• Verifying credibility of prospective clients by conducting risk analysis with respect to their market exposure. Negotiating contracts, payment terms and collateral securities, in order to establish credit line for new customers.
• Periodically auditing credit account status and cash inflow from existing customers to ensure perpetual organizational liquidity and reviewing the viability of extending or re-negotiating contractual obligations.
• Approving or rejecting sales orders from specific clients depending upon their approved credit limit, recovering payments from customers or liquidating proportional amount of securities on default of payment.
• Performing analysis of audit figures and reporting to the top management on a weekly/monthly basis on the collection, billings and cash flow projections.
• Supervising and delegating responsibilities to a group of financial professionals in maintaining financial books, files, vouchers and records as per international accounting principles and financial policy of the Establishment, also monitoring adherence to procedural norms.
• Validating and verifying all payments and receipts while reconciling the same with balance sheets and cash flow with bank account position every month.
• Co-ordinating all aspects of financial management and inventory control with the Finance Controller and Finance Manager. Preparing the monthly liquidity report for the management.
Achievements:
• Successfully implemented automated credit control and AR functions in the SAP system.
Responsibilities:
• Led a team of auditors in conducting internal audits for various clients and forecasted budgets, supervised cash flows as well as different financial ratios. Planned and devised documents using E&Y methodology.
• Resolved financial procedural non-conformities for clients, like correcting accounting entries in financial statements, ensuring that the accounting standards and practices of the Kingdom Saudi Arabia were implemented.
• Formulated audit strategies and programs, perfected audit methodologies for critical parameters and prepared summary review memo of internal system control for the clients.
• Ensured adherence to optimum performance standards of audit team under supervision, by reviewing performances and recommending modular training or promotions for individuals based on the same.
• Furnished inputs as an acting consultant to the executive committee of the organisation.
Industry accounts managed:
• Major commercial banks.
• Manufacturing industries
• Agricultural and trading group of companies.
Other Professional Training programs undertaken: Audit Accounting (1), Ernst & Young, Abu-Dhabi, UAE, Sept, 1995 Audit Accounting (2), Ernst & Young, Khobar, Saudi Arabia, July 1996. Audit Accounting (3), Ernst & Young, Jeddah, Saudi Arabia, Sep., 1997. Computer tools (FAST, ACL, Word, Excel), Ernst & Young, Riyadh, Saudi Arabia, Advanced Banking, Ernst & Young, Abu-Dhabi, UAE, Oct., 1998 Presentation Skills, Ernst & Young, Bahrain, May. 1999. Back & Middle Office Operation and Risk Management, Ernst & Young, Riyadh, Saudi Arabia, Sep1999. Derivative Course, Ernst & Young, Bahrain, May 2000 SAP-Financials in Government Institution, IBM Education Center, Riyadh 2002. The AICPA’s Comprehensive Course on Professional Ethics Standards. Project New Era Training Course on SAP FICO overview & Navigation Project New Era Training Course on SAP credit & AR control functions. Management of Lending and Recognition of Problem Loans - Institute of Banking. CPT Word Processing Program – International Agencies Limited.
Master of Commerce
Bachelor of Commerce