Finance Director
Jordan Oil Terminals Company
Total years of experience :20 years, 2 Months
Jordan Oil Terminals Company is a new established company in the field of introducing logistic services for the Oil and Gas sectors in Jordan. The main services are storage of crude oil and petroleum products, loading and unloading of Oil and petroleum products, in addition to transportation and other logistic services. The volume of assets is over $ 250 million, and it has a partnership with an international Operations & Maintenance (O&M) company to manage and operate JOTC’s terminals.
In addition, JOTC deals with international consultants to help JOTC to present its based on best international practice.
Main achievement: Setting the financial model for the company which is the base for the pricing system, and which enhance the revenues within two years from JD 1.5 million to JD 9 million.
Achievements and Responsibilities:
- Reported to General Manager.
- Member of a team who establishing the mission, vision, and core values for JOTC.
- Set the financial strategic objectives and tactical objectives that will achieve the mission for JOTC.
- Maintained the financial health of the organization.
- Financially managed the construction of JOTC terminals with an amount of $250 million.
- Developed trends and projections for the firm’s finances.
- Conducted reviews and evaluations for cost-reduction opportunities
- Consulted with representatives of governmental agencies to complete accurate filings and uphold strict compliance.
- Set clear departmental objectives and developed effective strategies to achieve targeted goals.
- Verified compliance of financial policies and accounting procedures against local and governmental regulations.
- Met deadlines by proactively managing individual and team tasks.
- Assessed employee performance and developed improvement plans.
- Recruited, interviewed, hired and trained 6 employees and implemented mentoring program to promote positive feedback and engagement.
- Engaged employees in business processes with positive motivational techniques.
- Uncovered and resolved strategic and tactical issues impacting sales management and business operations.
- Liase with auditors to ensure appropriate monitoring of company finances is maintained
- Correspond with various other departments, discussing company plans and agreeing on future paths to be taken
- Coordinated with international consultants and international O&M operator in the financial issues.
- Established the business and financial model for JOTC that will be used to put the tariff (fees) of the services.
- As one of the start-up team, I set the financial system for the company and its related policies and procedures, and financial authorities' matrix.
- Assisted in setting the HR system which includes: Hiring policies and procedures, benefits and compensation, employee’s evaluation system, code of conduct, SOP.
- Set the procurement system and its related policies and procedures.
- Assessed budget plans and present costs to forecast trends and recommend changes.
- Prepared Request for Proposals (RFP) for insurance on Oil terminals, Audit services, O&M operator, and others.
- Reviewed operations and commercial contracts from financial point of views.
- Supervised installation of ERP system (JD Edwards) in the terminals and headquarters, in addition to integration process between the international O&M’ ERP and JOTC ERP.
- Accounting and financial management of the construction contracts of JOTC projects, the status of those projects, and preparing the financial statements and periodic reports related for those invoices.
- Conducted cost-benefit analyses as required to assist in making management decisions regarding benefits of current and proposed program proposals, capital budgets, etc.; creates financial models using electronic spreadsheets
- Analyzed and study different types of investments based on risk and return analysis.
SAVETO is a leading and trademarked company in the field of manufacturing of building finishing materials. It is fully owned by Rashid Abdulrahman Al Rashid (RAR) Group. SAVETO Group is located at different MENA countries such as Jordan, Egypt, United Arab Emirates, Bahrain, Oman, Qatar and others. Its revenue turnover is about SAR 1 billion, and the number of employees is around 1500.
The main achievement was adopting a costing system that enables the company to track and allocating the cost with a reasonable logic to extract the true cost for each product, and such enhancing the pricing system, and increasing the net income for the company.
Achievements and Responsibilities:
- Reviewed budget to actual reports on a monthly basis identifying any areas of concern
- Monthly /quarterly budget meetings with all departments.
- Approved requisitions and check request verifying budget is sufficient and proper charge codes are identified.
- Assisted department managers with completing yearly budget request and justifications.
- Reviewed operational and financial records and reports and makes recommendation for improvements; works with departments to compile data necessary to analyze and determine operational and financial efficiency
- Advised Directors on general budget performance, alerting of special circumstances or concerns.
- Conducted research necessary to prepare forecasts of future financial/business conditions using multiple scenarios.
- Prepared and periodically updating an analysis of industry financial information
- Worked with Directors to review and analyze budget performance to include a review of actual and budgeted expenses
- Reviewed daily revenue reports to examine and analyze trend
- Conducted cost-benefit analysis as required to assist in making management decisions regarding benefits of current and proposed program proposals, capital budgets, etc.
- Built financial models using electronic spreadsheets
- Built Power Point presentations summarizing results of analyses and presents the results to top management
- Reviewed and recommending different types of investments based on risk and return analysis
- Monitored budget versus actual figures and works with cost center managers to develop strategies to maximize budget efficiencies.
- Produced business performance reporting packages.
- Trained new employees on accounting principles and company procedures.
- Suggested budgetary changes to increase company profits.
- Discovered major instances of fraud, embezzlement and large balances due.
Zahran for operations and maintenance Company (ZOMC) is a leading company in the field of operations and maintenance business. Its revenues turnover is around SAR 300 million. It has a large number of employees in different specialties around 20, 000 employees. In the central area, there were 14 projects with around 7, 000 employees. I was the first one who handle this position in the company.
Achievements and Responsibilities:
- Signed daily banking transactions (checks, transfers) up to SR 200, 000
- Implemented budget and expense controls and financial policies by analyzing income and expenditures.
- Renewed business insurance by scheduling values, including personal and real property, vehicles, computers, equipment, media, and accounts receivable.
- Created budgets and forecasts for management group in alignment with accounting deadlines.
- Managed all areas of accounting, including accounts payable and receivable, general ledger management, banking reconciliations and monthly balance sheet statements.
- Supported change management by understanding and addressing impacts of new accounting policies, financial statement initiatives and non-standard transactions.
- Managed accounting operations, including journal entries, collection efforts, reconciliations and payroll processing.
- Completed monthly payroll for company employees, including calculating taxes, vacation and sick time.
- Organized budget documentation and tracked expenses to maintain tight business controls.
- Collaborated with purchasing department to reconcile vendor invoices and facilitate payments.
- Contributed financial information to strategic plans and reviews and implemented production, productivity, quality, and customer-service standards.
- Prepared financial statements, business activity reports, annual budgets and other records.
- Addressed and resolved complex and unexpected variances.
- Directed gathering of all required documentation and files for account audits and completed reviews.
- Oversaw departmental accounting and budgeting.
- Supervised accounting department operations and team of up to 11 employees.
- Maintained compliance with company standards and legal requirements.
- Used ASCON to complete payroll for 7000 employees and took detailed records of procedures.
- Built and professionally developed highly competent team of 11 accounting professionals.
- Monitored hiring, training, performance and development of on-site accounting leads.
- Implemented cost control procedures and cost management processes, saving company SR 500K within 14 months.
- Maintained cash flow by monitoring bank balances and cash requirements.
- Analyzed financial information and made proactive adjustments.
- Applied mathematical abilities on daily basis to calculate and check figures in all areas of accounting systems.
- Gathered key data and modeled accurately to assist with business forecasting.
- Assisted management with finalization of annual expense plans.
- Prepared monthly reports, including payment and account reconciliations and financial statements.
- Evaluated return-on-investment and profit-loss projections.
- Performed field audits on wide variety of internal operations.
- Developed process improvements to increase efficiency and productivity and presented to management for approval.
- Created and initiated accounting procedures to increase organization.
Pinj is a company works in the field of medical instruments and devices. Its main activity is exporting medical instruments and devices from a reputable international medical companies and sell them in the local market. Its turnover is around SAR 150 million.
Responsibilities:
- Computerized record-keeping systems, initiating and maintaining financial accurate and current tracking in SAP.
- Educated Senior Accountants on forecasting, financial statuses and financial strategies to assist in annual budget creation.
- Processed payroll for 50 employees each month, including commissions, taxes, time off and healthcare benefits.
- Complied with all established policies and performed bank reconciliations, accounts payable/receivable, invoicing, billing, collections, monthly balance records, vendor payments and profit and loss statements for 120 clients.
- Reviewed account documentation for over 150 accounts, rectified issues and contacted vendors about account changes.
- Provided outstanding customer service by quickly and professionally handling issues.
- Analyzed figures, postings and documents to maintain accounting program accuracy.
- Effectively communicated with clients about payment needs and kept updated, detailed and accurate ledgers.
- Implemented new accounting processes to decrease spending and work flow downtime.
- Created detailed expense reports and requests for capital expenditures.
- Maximized client loyalty and satisfaction with prompt, thorough and timely resolutions.
- Streamlined financial reporting by implementing Excel program to create daily spreadsheets.
- Analyzed financial data derived from reporting systems to develop recommendations for operational and performance improvements.
- Entered financial data into company accounting database for verification and reconciliation, maintaining accurate and current accounts at all times.
- Tracked financial progress by creating quarterly and yearly balance sheets.
- Delivered human resources financial support by certifying and processing payroll, completing deposits, performing pay adjustments and promptly distributing checks.
- Designed training program and trained over 3 new clerks on collection, checking for thorough and excellent understanding.
- Initiated remedial actions by decreasing financial inconsistencies, reducing expenditures and eliminating system imperfections through efficient monitoring.
- Improved business direction by prioritizing customers and implementing changes based on collected feedback.
- Compiled budget figures by reviewing past budgets, evaluating estimated income and assessing expenses.
- Identified and suggested remedies for areas of improvement based on detailed daily reports and analysis.
- Organized budget documentation and tracked expenses to maintain tight business controls.
- Developed monthly, quarterly and annual profit and loss statements and balance sheets.
- Managed complex problem-solving for upper management to ensure on-time and cost-effective project completion.
- Managed complex finance projects under direction of senior management to meet deadlines and budget limitations.
- Assisted day staff by completing daily computer backups, virus checks and program updates.
- Applied mathematical abilities on daily basis to calculate and check figures in all areas of accounting systems.
- Strengthened financial operations by conducting bank reconciliations and financial reporting.
I worked as Research and Teaching Assistant in the Hashemite University, and this is for the scholarship to make the Master degree.
- Analyzed statistical data using both modern and traditional methods.
- Recorded data and maintained source documentation following good documentation practices.
- Gathered, arranged and corrected research data to create representative graphs and charts highlighting results.
- Supported design and implementation of survey instruments such as telephone questionnaires to obtain study information.
- Supervised undergraduate students working on research projects.
- Developed macros, special formulas and other actions to produce reliable and consistent statistical reviews.
- Performed statistical, qualitative and quantitative analysis.
- Giving lectures in Accounting Principles to students of accounting department.
- Prepared materials for reports, presentations and submission to peer-reviewed journal publications.
- Summarized search results by preparing written reports, graphs, fact sheets and tables.