Group Financial Controller
Mohamed Yousuf Naghi Group
Total des années d'expérience :23 years, 6 Mois
Leading the financial planning, analysis, and management reporting of the Group, with the reporting to Group CFO.
- Standardizing the financial planning and management reporting processes
- Selection and implementation of a financial planning and reporting tool for the Group
- IPO readiness for the Group and its entities
Managing the operational and strategic planning, analysis, and reporting of the Group, reporting to Group CFO.
Key roles and responsibilities include:
Financial Planning and Analysis
Monthly and quarterly communication to the Steering Committee and the Board on Group’s performance
Analysis of the businesses’ performance, identifying key issues and trends, and suggesting corrective actions
Various focused analyses to support Executive Management’s decision making
Strategic planning at the Group level, alongside helping the businesses on developing the projections
Leading the valuation exercise of the Group companies, with annual updates
Overseeing the annual planning process, including forms, timelines, reviews, and consolidation
Partnering with IT for the optimum use of SAP Analytics Cloud
Corporate finance support for Group’s M&A and bidding activities
Financial Controlling and Reporting
Managing the detailed monthly management reporting of the Group and its companies
Evaluating the financial reporting mechanism of the proposed and concluded M&A transactions
Helping the financial control function on statutory reporting and regulatory matters (zakat, VAT and tax)
Key achievements are summarized below:
Implementation of the Strategic Planning process in the Group
Noticeable improvement in the forecast accuracy of the group companies
Managed the Group’s statutory financial reporting, external audits, FP&A, and management reporting, reporting to the Group CFO.
Key roles and responsibilities included:
Financial Planning and Analysis
Compiling and managing the SAR 1.8 billion budget of the Group
Quarterly rolling forecasts of Group’s financial performance, position, and cash flows
Monthly management reporting, including financial analysis (revenue, profitability, working capital, cash flows)
Providing insights to the management on business direction and financial performance
Financial Controlling and Reporting
External financial reporting of the Group on International Financial Reporting Standards (IFRS) and regulatory framework
Managing various stages of SOCPA to IFRS transition in the Group
Handling annual audits and quarterly reviews by the external auditors
Controlling the chart of accounts and accounting practices of the group companies
Undertaken some projects for enhanced automation and efficient use of SAP
Managed the centralized AP function during the 3-month temporary absence of the Financial Controller
Key achievements are summarized below:
Successful transition of the Group’s reporting from SOCPA to IFRS
Streamlining of accounting by SAP’s customized processes
Led the Financial Planning and Analysis (FP&A) and Accounting and Reporting functions, with the overall responsibility of FP&A, and financial reporting. Reported to Director Finance, and later to CEO.
Key roles and responsibilities included:
Working closely with the executive management on strategy formulation, deployment and monitoring
Supporting management with ad-hoc analysis on financial performance
Developing and monitoring corporate and departmental budgets
Managing product costing and standard pricing for the whole product portfolio
Feasibility studies for and evaluations of various expansion and restructuring proposals
Overseeing financial accounting and reporting, including the compilation of monthly management reporting pack
Member of the steering committee for Oracle implementation, and supervising the financial modules
Member of committees for HR policy formulation and cost rationalization
Key achievements are summarised below:
Introduced budgeting process and controls at corporate and departmental levels
Developed a comprehensive costing and pricing model for an annual tender (comprising over 50% of business), which resulted in awards of 10% higher profitability in two consecutive years
Refined product costing methodology and got better pricing protocols implemented
Supported the management and HR function in job-grading and standardization of benefits
MManaged financial modelling (project finance and decision support) projects, feasibility studies, business plans, financial due diligence, corporate valuations, financial restructuring, and other advisory services.
Major projects are listed below:
Project Finance Models / Feasibility Studies / Business Plans
Financial model and transaction structuring for construction of a Dual Carriageway under PPP (US$80m project)
Business plan for a food-manufacturer to induce foreign investment of US$30m
Feasibility studies for:
Agricultural-cum-industrial setups in six different states by a government agency (avg. project size US$40m)
Fundraising by a private-sector hospital project (US$18m project)
Decision Support Models
Costing of the complete range of medical services provided by a renowned hospital network
Service costing model for a global IT and Geo-Tech service provider
Coal pricing and power tariff determination model for a regulatory body
Valuation and Financial Due diligence
Buy-side financial due diligence for acquisition of two internet service providers by a UAE-based telecom group
Sell-side financial due diligence and deal structuring for a cement company
Valuation of a group of companies in vehicle-tracking, financial and manpower services
Financial Restructuring
Distressed corporate advisory to an FMCG company, including debt-settlement options and working capital management
Financial restructuring of a steel-manufacturing company (US$46m project)
Group restructuring and related consolidation workings for a diversified group of companies
Other Advisory Services
Advisory to a renowned housing authority on the development of 10-year projections and optimal use of financial resources
Consultation to a foreign parent for evaluation of possible divestment options in its subsidiary
Analysis of the financial performance of a large textile company to advise a senior board member on key business decisions
Advisory services for issuance of US$109m Global Depository Receipts (GDR) by a leading cement manufacturer
Supported General Manager Finance in the overall operation of the finance function. Apart from the practical experience of financial accounting, management reporting and budgeting, this experience helped my managerial skills.
Key responsibilities included:
Monthly management reporting and review of monthly payroll
Compliance with corporate and tax laws, including the filing of various returns
Preparation of annual financial statements and liaison with external auditors
Preparation of company’s annual budget
Financial appraisals for new products
Worked as an Audit Trainee as part of mandatory training required for Chartered Accountancy. Participated at various levels of the team hierarchy and accordingly gained valuable knowledge and skills. This experience particularly provided a good command over financial accounting and reporting and induced teaming and deadline-meeting capabilities.
Major audit clients included The Hub Power Company Ltd., Indus Motor Co. Ltd., United Bank Ltd., Pakland Cement Ltd., Haroon Oils Ltd. and Dynea (Pakistan) Ltd.
It is a premier Chartered Accountancy qualification in Pakistan and is equivalent to a Master's Degree.