Finance Manager
NADCO
Total years of experience :17 years, 1 Months
▪ providing and interpreting financial information
▪ monitoring and interpreting cash flows and predicting future trends
▪ formulating strategic and long-term business plans
▪ researching and reporting on factors influencing business performance
▪ developing financial management mechanisms that minimise financial risk
▪ conducting reviews and evaluations for cost-reduction opportunities
▪ managing financial accounting, monitoring and reporting systems
▪ liaising with auditors to ensure annual monitoring is carried out
▪ developing external relationships with appropriate contacts, e.g. auditors, solicitors, bankers and statutory organization’s such as the Inland Revenue
▪ producing accurate financial reports to specific deadlines
▪ managing budgets
▪ arranging new sources of finance for a company's debt facilities
▪ supervising staff
▪ keeping abreast of changes in financial regulations and legislation.
• Collecting, interpreting and reviewing financial information
• Predicting future financial trends
• Reporting to management and stakeholders, and providing advice how the company and future business decisions might be impacted
• Producing financial reports related to budgets, account payables, account receivables, expenses etc.
• Developing long-term business plans based on these reports
• Reviewing, monitoring and managing budgets
• Developing strategies that work to minimize financial risk
• Analyzing market trends and competitors
• Responsible for presentation and analysis of financial reports with provide my recommendations to the Board of Directors
• Advise on investment activities and provide strategies that should be taken
• Analyze costs, pricing, variable contributions, sales results and the company’s actual performance compared to the business plans.
• Conduct reviews and evaluations for cost-reduction opportunities.
• Manage the preparation of the company’s budget.
• Management and guidance of the company's internal audit
• Property sector consists of 5 companies (Real estate co. - Al Motweroon International co. -Engineering consultant office - Farms - catering co, properties portfolio)
• Managed the treasury department through cash flow forecasting and arranging bank facilities for each project.
• Supervised preparation of the master budget on a yearly basis and updating the rolling budget quarterly based on actual results of projects.
• Prepared financial risk mitigation plans through managing cash, reducing overdue receivables, and controlling inventory turnover.
• Developed external relations with external stakeholder as banks, suppliers and clients.
• Controlled internal financial relations with sister companies and corporate office.
• Managed and monitored working capital elements through supervising collections and company’s payments.
• Managed periodic financial closing and reporting procedures.
• Supervise financial statements preparation and analysis to present reports to management committee every month.
• Participated in the company’s strategic planning, budgeting and preparing financial forecasting each year.
• Participated in the company’s risk management plans and work closely with departments’ managers to mitigate significant risks.
• Prepared the company’s Master Budget and work with project control department to monitor the projects progress, expenses and analyze variances.
• Prepared all types of capital budgeting and feasibility studies for new investments.
• Managed cost reporting, control, and periodic financial closing.
• Prepared financial analysis for financial results for the company and per each project and compare it with benchmarks from the Saudi market.
• Forecast cash needs and expected collections and managed payments to vendor, collections from customer, and bank facilities.
• Worked closely with fixed assets department and warehouses department for developing their work, prepare productivity and turnover reports for decision making.
• Prepared the monthly analysis and prepared the presentation for management.
• The core activity is preparing, developing, and analyzing the company’s Master Budget.
• Prepared the necessary schedules and budget manual using spread sheets for each project.
• Collected data from all departments (Technical Office, Procurement, Personnel, and Business Development) for budget preparation.
• Applied sensitivity analysis, flowcharts, and detailed forecast reports for budgeting.
• Monitored and followed up with key persons in projects and in head office to apply and achieve the budget objectives.
• Analyzing all variances between actual results and concurrently with preparing the financial statements each quarter to prepare reports with proposed recommendations.
• Prepared and presented the financial reports and financial analysis for the board of directors meeting on quarterly basis.
• Coordinated between board of directors and top managers to achieve the company’s strategic plan.
• Prepared cash flow forecasting each quarter based on the collected data from projects and company’s departments to manage cash and bank facilities.
• Prepared cash flow forecast for newly awarded projects and arranging for credit facilities with banks.
• Supervised reconciliation of accounts during financial closing each quarter and preparing financial statements after distributing costs of service departments and workshops using appropriate ways and techniques over projects.
• Prepared comprehensive projects status report each quarter to indicate performance and compare with projects progress.
• Prepared projects cost report on a monthly basis, and analyzed costs per each project.
• Supported capital budgeting decisions through preparing analysis for new investments using all the suitable models like DCF.
Acted as Accounting Manager for one year beside my role as Accountant Manager
• Managed the accounting cycle and supervising A/R and A/P transactions.
• Supervised assets and inventory cycle.
• Supervised employee’s vacations, end of service pay, and monthly salary sheet prepared by payroll department.
• Coordinated between all company's departments for any financial transactions.
• Reviewed and restructured financial processes for ISO procedures.
- Ensured timeliness of vendor payments by matching, batching, and coding invoices for
processing.
- Maintained monthly depreciation and amortization schedules.
- Reconciled general ledger accounts and bank statements.
- Prepared necessary adjusting journal entries and period end financial statements.
o Developing inventory analysis reports and analyzing variances
o Assisting in the improvement in internal controls related to inventory
o Verifying accurate standard costs
o Monitoring inventory transactions
o Reconciling inventory accounts to the general ledger
o Preparing monthly journal entries as needed
o Special projects as required
o Perform accounting functions as assigned including, but not limited to book, reconcile and report in-force premium, direct written premium and loss fund balance, retro accrual, cash, cash applied to A/R, bad debt allowance and non-admitted A/R on a monthly basis as well as for any GAAP
o Back-up month-end duties assigned to other Senior Accountants
o Assists in preparation of monthly management report and accompanying schedules, worksheets and narratives, including “Budget vs. Actual” variance reports. Assist in providing follow-up and documentation of significant variances.
o Assist with completion of the quarterly and annual regulatory filings; preparation of assigned Quarterly and Annual Statutory Statement pages/schedules.
o Coordinate and resolve various issues with bank such as cleared check differences, bank fee anomalies, targeted balance calculations and enhancements to online services.
o Monitor positive pay exceptions.
o Bank liaison.
-preparing accounts and tax returns
-administering payrolls and controlling income and expenditure
-auditing financial information
-compiling and presenting reports, budgets, business plans, commentaries and financial
statements
-analysing accounts and business plans
providing tax planning services with reference to current legislation
-financial forecasting and risk analysis
dealing with insolvency cases
-negotiating the terms of business deals and moves with clients and associated organisations
-meeting and interviewing clients
-managing colleagues, workloads and deadlines.
bc of comarce