Finance Manager
F. Hoffmann La Roche
Total years of experience :31 years, 6 Months
a. Finance Manager & Ad interim Compliance Officer - Hoffmann La Roche Ltd - Saudi Arabia.
b. Responsible for Saudi Arabia financial reporting, internal controls and financial analysis in terms of Accounting, Treasury, Business Controls, Budget, Forecasts and Operation Projects.
c. Support Saudi Arabia management in monitoring business performance and financial statements; utilize strong financial background and accounting competencies to provide appropriate financial analysis that support decision making and improve resources utilization in Saudi Arabia operation.
d. Support preparation of annual market business brand plans and assess implementation challenges and return on investment.
e. Working capital management with strong focus on local customers A/R collections, and cash flow, relation with local distributer and debit/credit notes review, booking, reconciliation and settlement.
f. Assess risks and provides alternate solutions and contingency plans to ensure the financial commitments are met.
g. Translates broad strategies into specific objectives and action plans.
h. Sets challenging, but achievable objectives. Allocates resources according to strategic priorities.
i. Makes critical choices that support strategy and ultimately the end-customer.
j. Handles multiple projects within teamwork while monitoring other personnel performance
k. Establishment of work processes map for different functions to facilitate and enhance tasks execution and anticipate bottle necks in planning/implementation.
l. Implementing corporate financial systems in coordination with EEMEA plans and provides required resources to achieve successful roll-out.
m. Handles the compliance function on ad-interim basis, implementation of the company’s compliance policies and procedures, and strengthen the control environment across the organization.
n. Customize HQ SOPs according to local regulations, roll-out and train employees for successful implementation.
a. Distribution Accounts Manager 1999 - 2001;
Handling controls over distribution activities, sales, sales cutoff, collection, customers credit limit, customers aging reporting, inventory obsolescence, inventory controls, Accounts Payable, Bank facilities and hedging of foreign currencies, insurance on assets, annual incentive feedback, Prepare monthly financial deck for management, implementation of BPCS (Business Planning and Control System AS-400 platform).
b. Financial Analysis and Accounting Manager 2001 - 2005;
Responsible for budget preparation, controls over financial reporting, revenue recognition, corporate internal audit preparation and follow-up, SOPs implementation and training to the organization, products P&L and ROI, performance tracking, G/L and Balance sheet review/reconciliations, Distributers debit notes reconciliation, confirmation, settlements.
c. Finance Manager KSA 2005 - 2008:
In addition to the above became responsible for projects, business restructure, local manufacturing initiatives, forecasting accuracy and rolling forecast, accounting system integration (BPCS) with financial analysis through implementation of TM1 upgrade in KSA. Local manufacturing (Tolling Manufacturing) in KSA for mature brands (antibiotics). Responsible for the compliance role in Saudi Arabia, FCPA quarterly review, and elevating the adherence to local laws and regulations, industry code of conduct and company standard operating procedures (SOPs) as well as standards of business conducts and ethics.
d. Financial Analysis ME (added responsibility) 2009 - 2010:
Added responsibility for Budget and financial reporting for the Middle East, based in Jeddah, in this added role, I was covering Egypt and Gulf markets in addition to KSA. Reporting to ME GM, and Saudi GM, with limited supervision, and staff, as a team we were able to effectively implement rolling forecast for sales and inventory, as well as launch of new products in coordination with supply chain, regulatory, medical departments. Being part of ME remodeling team, achieved successful spinout of mature products (mainly antibiotics / anti-infective) in Levant area (Jordan, Lebanon, and Syria) to potential buyer (awarded to GSK).
Responsible for internal audit function in Middle East, covering extensively Saudi Arabia and Gulf Markets, with less emphasis on Egypt. Implementing and customizing global SOPs to local ones, monitor implementation across the markets, strengthening the control environment, review sales and marketing practices in the market, and performance vs. plans, and execution accordance to SOPs. Creation of Inventory and Sales report tracking model to enhance controls over inventory, minimize expiry risk, and enhance forecasting. Enhance controls over in market customers in KSA to minimize collection risk in a volatile market.
Responsible for Audit planning in small to mid size companies, as well as participating in field work audit execution for large scale organizations as Banks, Manufacturing, Retail, Construction and Tourism. Main focus areas were; revenue recognition in accordance with Accounting standards, adequacy of provisions and accruals, review customers classifications and assessment basis, reporting to central bank of Egypt (Banks and financial institutions), valuation of inventory, capital adequacy in accordance to companies low, changes in company legal structure, position of cash flow and ability to mitigate current and future liabilities. Financial Statements presentation in according to industry and accounting standards. Tax position with different tax authorities. Lead audit teams in small and midsize companies and responsible for team reporting, review, training, file management, and preparation of financial statements.
Field work reviews for balance sheets and income statements for different local and multinational industries in Egypt, mainly small to midsize organizations, main focus expenses review, and cost of goods sold, inventory valuation, debit and credit balances, and fixed assets.
Chartered Accountant