Geozone Finance Manager
Weatherford - Saudi Arabia
Total years of experience :19 years, 11 Months
EUPS is a Kuwaiti Oilfield Services company that have operation in Kuwait and Iran, my responsibilities as a finance manager are as per below:
• Finance head covering EUPS business in Kuwait and Iran
• Setting finance strategy and driving the delivery of the daily operation of the company’s Finance activities,
• Monitoring and managing cash flows and predicting future trends
• Working closely with operation and client in order to collect all pending invoices
• Working with HR and management on process improvement project in order to optimize business running cost
• Play a key role in the Audit of financial statements and clear pending backlog
• Introduction of internal audit aspect to the company and ensure compliance
• Project Sponsor of SAP Implementation project
MI CWA is one of the biggest and complex business line, it`s a unique Geo Market mainly due to the multi-country structure (covering 12 countries) it have and high volume of operation. My main responsibilities are to:
• Covering MI SWACO for all central, west and east Africa region (Over 12 countries), a product sale driven business
• Help to align cost to face business downsize and work on cost control measures.
• Work with operation to come up with cost model for each business unit and each country
• Assess and review all business unit and help management on decision making and make sure all set KPO`s are met.
• Work on different Oracle issues and try to eliminate any potential exposure.
• Work with the 12 countries under CWA Geo Market to ensure revenue process in standard and as per SLB procedures
• Preparation of yearly business planning, and quarterly Rolling Forecast.
• Playing a key role to make sure all internal controls are met and ensure full adherence to SOX compliance.
Main achievements:
-Lead several inventory count under my region in order to help to realign inventory level, all exposure being cleared during 3 months of intensive work with operation and store departments across the region.
-Lead AR clearance project, DSO decreased from 80 to 32 days.
-Lead a BSN integration and cleanup project, BSN assessed by EAF HQ committee with no exposure noted and was referred to as one of the best BSN across the region.
• Covering Mozambique as standalone country and different business lines (WTT-MI-SMITH-WSV-WIS-CPS-ALS) for all EAR
• Providing financial, commercial and strategic support to senior managers and help on decision making.
• Key member in tender evaluation, T&C, P&L simulation, client credit assessment, suppliers RFQ and commercial negotiation.
• Presentation of monthly results, budget variances and ad-hoc analysis.
• Planning and design of different project handled by my business Line through the year and follow up until final closure.
• Preparation of yearly business planning, and quarterly Rolling Forecast.
• Identify and develop controls and processes to ensure all risks and opportunities are highlighted.
• Identifying areas for process improvement, cost management to help achieving quarterly KPO and KPI
• Ensure that all financial transactions are recorded in compliance with the SLB procedures and as per SOX compliance.
• Playing a key role in Working capital management by following up with all involved parties
• Ensure adherence to corporate ethical policies and internal controls. Organize internal periodic audits
• Review and approve all Capital Requisitions request (CAR's), and long-term lease commitments.
Main achievements:
- SMITH and MI integration into SLB system and procedures (Task Force on BSN and P&L clean up)
-Introduce Negative cost model and comply with it for the first time in Europe and Africa region, this is help my business line to have high KPO ranking and be a model to follow by others regions.
-Lead multi millions dollars Capex projects in Mozambique, all achieved in time and without any budget excess.
-Win the best DSO performance achievement for MI SWACO Europe and Africa region in 2014
-Lead a cost improvement project through VAT review for Tanzania operation, manage to save $1.4m worth of recoverable VAT from governemt.
• Overseeing all aspects of financial reporting in MEA
• Providing management accounting support for all MEA region covering the HQ in Dubai
• Process improvement project • Managing all aspects of consolidation and financial reporting in MEA region (Covering 16 countries)
• Providing management accounting support for all MEA region covering the HQ in Dubai (Covering 16 countries)
• Leading Process improvement projects in consolidation and reporting fuction
• Standardization of BSN preparation, P&L review and reports for all MEA region.
• Recruiting and assists in the training and coaching of MA`s and R&C analysts (Over 40 employee recruited)
• Ensuring that all financial reporting deadlines for MEA are met and adhered to at all times.
• Managing a team of 16 professional accountant
Main achievements:
- Being part of the core team that set up the Consolidation and Reporting function within Schlumberger's Eastern Hemisphere Shared Service Center in Kuala Lumpur.
-Winner of Lean project competition in 2011 where I lead reorganization of Reporting and Management accounting function for all MEA and Asia region.
-Owner of automated compensation analysis and revenue SOX compliance report that been used by all SLB locations worldwide
• Preparing cost analysis, accruals and prepayments, month end journals
• Responsible of inventory count and others internal control processes
• Business partner to my business line to plan, manage and report their budgets forecasts and variances analysis
• Responsible for monitoring profitability and maintaining accurate company accounting records
• Leading monthly team meetings to review business line cost and work on cost reduction initiatives
• Preparing yearly business plan, quarterly and monthly forecast
Main achievements:
-BSN cleanup project achieved within 2 months, all aged and exposure items has been investigated and closed.
-Selected by regional HQ to participate in internal audit mission as a BSN subject matter expert.
-Creation of yearly budget automated template that allow big flexibility of change during mangers review.
• Control and preparation of general ledger entries including prepaid, accruals, allocations, ect ect
• Provide monthly cost analysis to management and tracking of actual Vs forecast
• Holding monthly meetings to review overhead reports with departmental heads
• Process and Prepare fiscal financial statements through the fiscal ledger of the ERP
• Support external and internal auditor on all request they have
• Prepare different quarterly and yearly tax reports as per HQ requirements
Main achievements:
-Drive base and overhead cost optimization project
-Close 3 years backlog of unaudited financial statement for 2 legal entities.
• Reviews Service Report Log and performs reconciliation between Sales Order and Sales Invoices.
• Creates AR invoices, checks pricing and discounts and ensure all invoices are delivered to client on timely basis
• Subsystem control including DSO reporting, Clients Statement Prepare fiscal financial statements.
• Direct follow up and meeting with client to ensure all invoices are collected in due time.
• Prepare Billing and receivable reports and dashboard in month end and discuss it with managers
• Preparing Bank reconciliation and follow up for closure of all open items
• Follow up with AP team and arranging monthly cash call to meet cash requirement during the month
Main achievements:
-DSO reduction from 172 days to 53 days
-Automate bank rec recon through excel, no open items in Bank rec after 3 months from my assignment.
• Invoices Verification: conformity of the form (Legal entity, complete documentation) and Procedure compliance
• Process AP invoices through ERP
• Provide assistance and month end accrual requirement to MA
• Investigate open and Received Not Invoiced PO`s and provide coaching to SWPS users (Web procurement system).
• Prepare payments (checks or wire transfers) and ensure to record accordingly in system (payment closing)
• Prepare WHT certificates and distribute payments to the proper beneficiary
Main achievements:
-Processing all payment in due time,
-No pending invoices at month end, reduce manual accrual to very limited items
• Processing of sales, purchase invoices and payment to suppliers.
• Updating & entering journals for sales revenue and other P&L transactions.
• Creation of dashboard for management to follow up on AR ageing profile and cash flow projection
• Redesign the document control system in the company
• Preparing Tax & VAT returns.
• Processing of sales & purchase invoices.
• Create an automated excel template to facilitate follow up of employee deduction
• Study and correction of depreciation in sub ledger to be compliant with local GAAP requirements
Accounting, Audit and Internal Controls