Chief Financial Officer CFO
Takween Advance Industries
Total years of experience :16 years, 9 Months
CFO with total experience 20 years in various industries such Construction, Manufacturing, Oil & Gas, Services industries, in different type of organization multinational companies. Building state of the art efficient organization through digital transformation and process re-engineering. Strategic Partner, helping organization designing and implementing strategies to achieve sustainable and profitable growth.
financial strategy, profitability, operational efficiency, financial expertise, leadership, and strategic thinking. It also emphasizes the candidate's goal of delivering sustainable growth, maximizing shareholder value, and promoting financial excellence within the organization.
Have experience in Takween to complete the full Capital increase and right issues including FDD, TDD & LDD.
Good experience in all CMA regulations and working closely with Governance manager to apply all the rules.
Dealing with all local and international bank to manage in total bank facility with total amount SR800 million and making facility restructure between STL and MTL, additional to manage with bank to get new facility additional of SR250M with very difficult situation in the market.
Work with SAP team to automate most of the transactions related to finance and inventory to make sure that all process will be completed in smooth matter without effect on the operations.
Complete the COPA analysis costing report in SAP system and this will help all finance and sales team to understand the Contribution Margin analysis on the spot related Products, and SKUs level by all categories also.
Working on a new project with SAP consultant to implement the Cash & Treasury management risk module Plus the Consolidation and Budging Process CBP to be used for all group.
IFRS-9 before and after COVID-19 impact with consultant and implement the proper master data for all group customers with some initiative like automated Dunning Letters, ECL module and like the data from master sheet in SAP with control on credit risk policy.
IFRS-15 implemented in system to make the cut off sales working smoothly though GIT and sales reports and avoid any manual entries as per days of delivery for each customer.
IFRS-16 to make sure that all lease liabilities transaction and ROU assets to be recorded in a smooth manner.
Assets management program, including validate all FAR recording and reconciliation between list and actual locations for all group including seven plants with tagging all group assets as standard.
VAT Implementation & IFRS Implementation.
Restructure, decentralize and build new team with professional background in different departments like finance, store & cost control to improve and enhance the efficiency of work and complete the work cycle as per the company policy and procedures.
Contribute to built new policy and procedures with DOA “Delegation of Authority” for finance department and some others dep.
Fixed some issues in ERP SAP system and complete the implementation of many modules not used before and increase the usage limited.
Work on over all inventories nonmoving items and reduce it by 15.6 million in six months.
Focus on costing analysis with team and reduce the cost of one big line for plastic produce by increase the capacity and reduce the handling cost and manpower efficiency.
Arrange all budgets work in the group and start to implement in System and link all accounts and operations with SAP system.
Gulf Steel Works (GSW) is a significant strategic business unit and one of the leading Steel fabricators of Process Equipment & Heavy Steel Structure for the hydrocarbon processing industries (oil, gas & petrochemicals), Fertilizers, Process Chemical and primary utilities (Power generation & water desalination) Gulf Steel Works is a subsidiary of Pan Gulf Industrial Investment (PGII) which is a leading industrial investment and manufacturer company based in Saudi Arabia. It consists of eight subsidiaries specialized in steel industry, welding solutions, piping systems, industrial solutions & fabrications, and valves manufacturing & services.
Key Responsibilities:
Responsible for all financial matters and operation and direct reporting to Group Finance Manager / CFO and GM of Gulf Steel Work.
Responsible directly around twenty staff including managerial and senior level all they are working as teamwork and serve “4” four big divisions “Steel Structural, Site Tank, Process Equipment, Skids “.
Support all operation managers and make work flow smoothly with the accounts department by making new procedures which will help the company to finalize the projects on time and without any delay.
Highlights:
Prepare an organization chart and new job description for all the team to be useful with company structure.
Hired a new team in different departments like finance, store & cost control to improve the efficiency of work and complete the work cycle as per the company policy and procedures.
Fixed some issues in ERP system and complete the implementation of many modules not used before and increase the usage limited.
Improved the profitability of Steel Structure division by monitor the production line in factory and remove unnecessary and ideal cost from manpower.
Re organized the painting and cladding division and prepared complete procedures work flow to transfer it from cost center to be profit center serve all other division.
IKTVA prepares for the company with all requirements.
VAT implementation in company.
IFRS new implementation in all divisions with coordination with concern team
Key Responsibilities:
Responsible for all affiliates of Arabian Bemco Contracting Co. as financial controller for financial & managerial matters with coordinate with FM’s and GM’s of each entity.
Scrutinizing and certifying all profit and loss statements, balance sheet, ratio analysis, cash flow, capital budget statements, and ensuring their conformance to all regulatory and legal policies, company adopted procedures, guidelines and GAAP.
Organize quarterly meetings of board members with all affiliates management to discuss and review the result of each entity and focus on major issues like business planning & budget, operation and commercial issues, financial reports & human resources.
The companies responsible for as below list;
o INMA Co.
o GEDAC ELECTRIC Co.
o TRUBA Co. \{Joint Venture\}
o BEMCO SERVICES Co.
o BEMCO STEEL FACOTY.
o BEMCO PIPING FACTORY.
o BEMCO CONSTRUCTION EQUIPMENT Co.
o APINA Co.
o AL SALEM KITCHEN & LIGHTING INDUSTRIES Co.
o MEGA ARABIA Co.
o ALSTOM FACTORY Co.
Make risk assessment on monthly basis for all companies to provide the high management initiate risk problem will face the company before time to take proper action with management.
Audit process complete for all group on many different area on periodic time like \[ Inventory, fixed assets, all treasury assets from cash, bank, LCs, LGs, credit facilities …etc, unbilled revenue, A/R, A/P, cost analysis account for all projects comparing with budget of each project and Estimated total cost variation should be logically and approved form Commercial & Project Manager .
Establish new department in Bemco as Oil and Gas with Dr. Emad Kameel from Zero base to have full staff in all department specially in finance department.
Key Projects to Credit
- King Abdullah Petroleum Studies and Research Center, Project Cost - SAR 400 Mio.
- King Saud University Endowment, Project Cost - SAR 200 Mio.
Played a pivotal role in establishing Oracle R12 to streamline business activities. Ensured successful migration of all relevant data in addition to providing complete support to employees for smooth utilization of the software.
Established close rapport with creditors and extended tactical guidance to enhance business operations which resulted in savings of SAR 10 Mio on account of custom duty.
Aggressively promoted Saudization in the department and recruited more than 15 Saudi national men and women in various departments to achieve Saudization percentage.
Key Responsibilities:
Scrutinizing and certifying all profit and loss statements, balance sheet, ratio analysis, cash flow, capital budget statements, and ensuring their conformance to all regulatory and legal policies, company adopted procedures, guidelines and GAAP.
Verifying weekly/monthly reports like sales invoices, work-in-progress, status reports, turnover/cost reports, performance reports, and updating the management regularly regarding the financial statues of the organization.
Conducting budget vs. actual, revenue vs. expenditure analysis, establishing trends and identifying deviations and devising requisite solutions/options to avoid fall outs.
Analyzing age-wise AR report and developing a meticulous follow-up to receive timely payments, evaluating due invoices and facilitating timely payments to AP while balancing liquidity.
Proactively identifying various sources of raising finance to meet organizations requirements. Mediating extensively with banks and other financial institutions, and administering credit lines, cash flow, short- and long-term debts etc.
Administering routine financial functions - diligently managing and formulating the cash flow statements, maintaining a judicious petty cash register, documenting movement in fixed assets, ensuring sufficient insurance coverage, general ledger, PJ, PB, etc.
Presenting strategic guidance to team members and ensuring that everyone is able to manage their workload and meet targets/deadlines as set down. Orienting, training, delegating, scheduling, coaching, counseling, and disciplining employees.
Offering technical expertise to business managers on brands and profitability and facilitating in effective decision making to accelerate the organizations pace in achieving its financial objectives.
Working in association with department heads - commercial, planning, project managers, and ensuring that they submit relevant reports depicting the stability/liquidity/growth of the organization to board of directors.
Liaising broadly with bankers, auditors, legal/regulatory bodies and working in collaboration with other departments to ensure execution and implementation of planned policies and strategies.
Fostering an environment of internal control, streamlining business processes/activities to fine tune the financial summary and thus ensuring operational efficiency for the organization.
- Al-Jamarat Bridge - Mena Makkah - SAR 635 Millions.
- Princess Norah University - Riyadh - SAR 423 Millions.
Exhibited proficient knowledge of accounting operations like preparations of financial statements/reports, analytical reports, budgeting, bank reconciliation, MIS, AR, AP, GL, forecasting, cash flow, while handling SAR hundred million projects in KSA - Jeddah, Makkah, Riyadh.
Key Responsibilities:
Administered complete finance and accounts operations and cost accounting role and computed various periodic reports/status reports in sync with organizations policies and procedures.
Provisioned budget vs. actual report, compared contrasted and established trends, identified bottlenecks and undertook requisite corrective actions.
Organized and aided tactical resources to ensure completion of projects on scheduled time, budget forecasts and verified that the actual progress of project is in line with general project plan.
Computed profit plan, cash flow plan and forecast cash flow at various stages of project life cycle for strategic analysis and interpretation by top management.
Worked in collaboration with project team members, routinely conducted cost review meetings and updated them regarding project schedule with key emphasis on cost controls.
Liaised broadly with projects managers, commercials managers and construction managers for effective formulation of project work plans, budgets, scheduled activities, and proactively reported any variations to minimize losses.
Established, maintained, and coordinated the implementation of accounting and accounting control procedures, monitored and reviewed accounting and related system reports for accuracy and completeness.
Guided other departments and resolved their discrepancies by researching and interpreting accounting policy, applied observations and recommendations to operational issues