محمد محفوظ

Formed in 1998, Maz Holding comprises of Bed Quarter Trading Company, Bed House Trading Company, Nolte & Bed Quarter Factory Company specialized in imported high quality premium mattresses and bedding accessories, reaching to 42 stores across KSA, UAE, Oman, and Bahrain till date, it also owns manufacturing facility under three international licenses, manufacturing 15 Models of mattresses, various linen solutions, cabinet, Sofa and marble countertops.

My Major Responsibilities and work performed at Maz Holding:
Accountable for reviewing the subsidiaries’ accounting, finance, treasury, and HR with 39 staff. Played an integral role in restructuring the group and the department's hierarchy. Turned around the unprofitable showrooms with profitability by conducting periodic analyses of all showroom costs and expenses.

Key Deliverables:
• Strategic Planning: Conceptualize and implement financial strategies, resulting in revenue growth of 32% and 18% in consecutive years.
• Finance Management: Manage accounting, budgeting, financial & accounting systems, internal controls, decision-making, financial benchmarking, general ledger, and financial analysis. Handle the
• Capital Structure: Effectively handle the capital structure, obtained financing options, and raised capital to support showroom expansion.
• Fund Raising: Obtain additional funding for business expansion, including financing for a new manufacturing facility in Sudair City by streamlining loans and negotiating with banks and the Saudi Industrial Development Fund (SIDF)
• Internal Controls: Enhance financial health by complying with all the regulations and deploying sound financial business controls. Set up and manage effective internal controls and governance frameworks.
• Decision-making Support: Facilitate strategic decision-making by conducting financial planning and analysis and providing valuable insights and recommendations.
• Financials Preparation: Look after formulating accurate and timely financial statements, ensuring compliance with accounting standards and regulations.
• Budgeting: Review monthly financial budgets and reports, including monthly profit and loss, forecast vs. budget by division, and weekly cash flow by division.
• Financial Planning & Analysis: Review financial planning and budgeting processes, analyse financial statements and reports, develop financial models, prepare projections, and perform research and analysis.
• ERP Implementation: Upgrade the accounting system from Microsoft Dynamics AX to Microsoft Dynamics 365 as Team Leader.
• Risk Management: Address and mitigate the financial risks by creating, executing, and enforcing strong risk management strategies and internal controls
• IPO Preparation: Drive efforts in preparing the company for an Initial Public Offering (IPO).
• Feasibility Studies: Conduct and document the new branches' feasibility study.
• Reports & Documentation: Produce valuation reports for the retail and manufacturing sectors.
• Policies & Procedures: Create and execute policies and procedures with an Advisory Corp consultant. Create and enforce the accounting policies and procedures with a financial consulting company.
• Performance Improvement: Enhanced the financial performance by steering the budgeting process and executing the cost control measures
• Compliance: Strictly adhere to financial laws, regulations, and reporting requirements.
• Cost Control: Analyze the cost operations and reduce costs without affecting business operations.
• Team Leadership: Direct the team, including recruitment, performance, and workflow management. Assist the team in handling the past zakat return obligations.

The company was established in 1980 by the well-known Abdullatif Alissa Group Holding Company (AAGH).
Best Rent a Car is one of the leading leasing and car rental companies in the Kingdom of Saudi Arabia, the company operates through a wide network of rental offices that covers all main cities and has a diverse fleet of more than 11, 000 vehicles.

My Major Responsibilities and work performed at Best Trading Co.:
: Manage the accounting, finance, treasury, insurance and credit & collections departments that have 76 staff collectively.
: Preparation and review of accounting directory, financial authorities, financial and accounting policies and procedures.
: Asses the management and respective consultants in preparation process of the operations policies and producers.
: Review of monthly, quarterly and annual financial statements and reports.
: Review of annual budgets and periodic forecasts.
: Improve the pricing module for spot and long-term leas (for both individual and corporate).
: Finalize the business plan for 5 years along with the expansions for the company’s fleet.
: Key leader of operation excellence that eliminated more than SR 2 million of monthly SG&A costs through further organizational restructuring and cost reductions (the spot business line with its conventional approach has been shut down by the end of Dec 2020; mainly due to the deep analysis that been presented to BOD).
: Monitor and control the cost associated with fleet movements.
: Managing and controlling the treasury among the company by monitoring and controlling the cash flow (inflow and outflow).
: Banks borrowing restructuring to match the cash flow plan.
: Team leader in installation and implementation of ERP System “Microsoft Dynamics AX”.
: Set targets for collections department and following up on daily basis.
: Finalize the bank reconciliations for 1 year period that was before I joined the company
: Organize works and activities in subordinate departments in regional offices.

Contracting Company and has trading division.

Responsible for the functions of accounting, finance, HR and IT.
: Preparation and review of accounting directory, financial authorities, financial and accounting policies and procedures.
: Review of monthly and annual financial statements and reports.
: Review of annual budgets and periodic forecasts.
: Monitor projects as to work progress, cash flows, financial control and other matters.
: Following up the collections with the project owner and main contractors.
: Evaluation of new projects opportunities.
: Implementation of VAT system.

Company has 17 restaurants with more than 1500 employees and expanding throughout KSA and gulf area and preparing for IPO at Tadawl stock exchange.

My Major Responsibilities and:
: Preparing the company for IPO and ensuring compliance with CMA requirements "Policy and work performed at Al Nadeg procedures, due diligence, ERP implementation, authority matrix, corporate governess".
: Appointed as project manager for IFRS conversion "conversion plan, consultants selection, requirements, gap analysis and due deliverables".
: Working closely with the CEO to enhance the profit growth performance by monitoring and analyzing the sales in the branches and creating ideas to increase and maximize the sales and profit margin in the current market situation.
: Applying VAT system to the company "appointed as a VAT project manager".
: Designing and reviewing the monthly, quarterly and annual financial and management reports.
: Preparing and monitoring annual budgets.
: Comparing actual vs budget on monthly basis.
: Variances preparing, monitoring and following up with the departments heads.
: I finalized the business plan for 5 years along with the expansions for many branches.
: I prepared several feasibilities for business opportunities.
: I arranged for debt and equity financing and represented the company with investment bankers.
: Key leader of operation excellence that eliminated SR 250 K of monthly SG&A costs through further organizational restructuring and cost reductions.
: I initiated the recipe cards system for all products and linked them with production process for effective cost control.
: I provided several financial solutions in the manufacturing process.
: Analysis of operating expenses and revenues and control company's expenditures and financial status.
: Monitoring of projects under development "new branches" as to work progress, cash flows, financial control and other matters.
: Development the financial strategies, audit and internal controls team in the company.
: Monitoring cash flow (cash balances and cash forecasts) and exploiting surplus cash.
: Ensuring that the company complies with all legal and regulatory requirements
: I designed and led implementation of new financial reporting system and cost accounting.
: Monitoring all open legal issues involving the company, and legal issues affecting the industry
: Presenting to board of directors and audit committee financial presentation which includes
actual performance against budget.
: Managing the finance and costing departments that have 33 staff effectively and efficiently.
: Coordination and follow up with external auditors to conclude the audit.

Al Jubail Development Company is a real estate developer in AlDammam and Al Jubail city. in Eastern Area of Saudi Arabia.(associated company of Dammam Development Company).

My Major Responsibilities and:
: In my role as Director of Finance and Administration, I am responsible for finance and work performed at Jubail accounting, HR & IT. I have since I started in July 2014 made changes to the department that Development Company have resulted in a much more efficient, structured and proactive organization.
: Managing and controlling the treasury among the company by monitoring and controlling the cash flow (inflow and outflow), and suggesting for the board to invest the excess cash.
: Establish new relationships with local banks for current account and borrowing facilities.
: Banks borrowing restructuring to match the cash flow plan.
: Preparing feasibility studies for different projects.
: Managing the finance and administration teams.
: Cost control "work in the minimum cost to operate the company".
: Preparing market study for selected real estate projects.
: Designing and implementation the internal control systems.
: Evaluating investments opportunities and preparing investment proposals for CEO review and Board approval.
: Ensuring company compliance with rules and regulations in relation to real estate development and sales.
: Adopting complete process for annual budget review and approval.
: Developing the departmental accounting policies and procedures and ensured the financial management information systems are compatible and in accordance to the company's policies and procedures (when I was in Dammam Development Company).
: Developing of complete reporting system of the company which helped in, monitoring and controlling timely reporting of business transactions and performance.
: Maintaining appropriate registers and records for original contracts, title deeds and other important documents.
: Designing the forms related to finance and administrative to implement the internal controls and the accounting system.
: Preparing and filing Zakat return for the company and following up with the DZIT.
: Presenting to CEO, board of directors and other committees the monthly detailed report which includes financial reports, budget and forecast and other information.

AlDammam is a real estate development company managing real estate investments locally and GCC countries and investing in many companies.

RealCAPITA is a real estate investment brand dedicated to offering a wide range of aligned real estate products and investment opportunities in Bahrain, Morocco and France.

Dammam Development Company and RealCAPITA Company signed audit consultation agreements with different companies under their groups and I am providing internal audit and consulting services for the following companies:

Bayt Al Mal Al Khaliji. - (Saudi Arabia)
Real Maroc - (Morocco)
House Invest - (Morocco)
Real Estate Investment Management (Morocco)
Real Palais - (France)
Bois Salve - (France)
Jubail Development Company - (Saudi Arabia)
Amwaj GateWay Co. - (Cayman)
Amwaj Gateway Development Co. - (Bahrain)
Real Lands - (Bahrain)

My Major Responsibilities and: Financial & Operational Audit: (major responsibilities)

work performed at the companies in the group:
: I have established the internal audit department in DDC and it's the related companies which include all function infrastructure "audit policies, procedures and internal audit charter, Audit plan".
: Planning, organizing and managing the internal audit function for all the related companies.
: Reporting on timely basis for audit committee, management and the BoD on the results of the conducted audit for the companies being audited. The audit report includes highlights of suspected fraud and major deficiencies and risk assessments of business and support functions.
: Following up the implementation of the recommended points by having periodical meetings with companies' management.
: I played a major role in reducing the cost and extra expenses, I have reduced the cost of the main project under Amwaj Gatway Company by BD 11 million (SR 110 million).

Non-Audit (major responsibilities):
: Board member of Jubail Development Company
: Board member of Amwaj Gateway Company
: Board secretary for RealCAPITA Company.
: Audit Committee member of RealCAPITA
: Audit Committee member of Jubail Development Company.
: Team leader in installation and implementation of ERP System "Microsoft Dynamics AX".
: Coordinating with lawyers and other parties.
: Representing the chairman or vice chairman in the AGM and BoD as requested.
: Assisting in preparing the Human resource policies and procedures of AlDammam Development Company
: Preparing of the operations procedure for some departments in BMK and Jubail Development Company.
: Monitoring the projects of the companies.

Al Oula is one of the biggest real estate developers in the Middle East and it has respected reputation in the region. Owned by Al Muhaideb group, Al Fouzan Group & SUMO Holding.

My Major Responsibilities and: Financial & Operational Audit: (major responsibilities):

: I have established the internal audit department which include all function infrastructure.
: Preparing internal audit manual
: Preparing and following the implementation of the audit programs and plans
: Preparing the audit programs and ICQ's
: Auditing Al Oula group including Al Oula itself and its subsidiaries and associated company.
: Preparing the authority matrix schedules.
: Preparing operating procedures for all departments
: Preparing the purchases manual (polices, procedures and forms)
: Assist in developing the financial and management reporting system for the company
: Following up the implementation of the recommended points by having periodical meetings with sectors top management.
: Reporting on timely basis for audit committee on the results of the conducted audit for the company and its subsidiaries.

Quality Management System Audit: (major responsibilities):

: Managing the internal audit of ISO 9001:2000
: Formulating and managing the development and implementation of goals, objectives, policies, procedures and systems pertaining to the quality assurance and regulatory functions.
: Documentation Management which related to Quality System guidelines
: Train all company employees in the requirements, documentation and maintenance of the corporate Quality System.
: Report on timely basis for executive management on the performance of the quality system, any non-compliance issues and recommended actions.

A member firm of Deloitte Touche Tohmatsu International)

In my previous assignment with one of the foremost accounting and auditing firms in the Middle East. I have acquired a very wide exposure to international and Saudi business practices. I have been planning and conducting audit engagement throughout Saudi Arabia. Also, coordinating with firms senior partner and management and client executives with respect to preparin g and issuing financial statements, letter of engagement, risk and planning memos and letter of recommendation. I have been assigned to most major clients due to my proficiency in both English and Arabic. (i.e. Contracting, Trading, Industrial, Investment and Insurance)
Zakat and Taxes: I have acquired significant experience in preparation and filing zakat and tax return on behalf of most the firm's clients. I am also familiar with the return filing requirements of the zakat and tax
department in Saudi Arabia, responding to queries raised by them from time to time. Attending the field inspection which is done by the Department of Zakat and Income Tax Committee and attending the Preliminary and Higher Appeal Committee on behalf of our client

My Major Responsibilities are to:
: Performing pre-engagement activities (Asses and Respond to Engagement Risk)
: Performing Preliminary planning
: Developing and performing audit plan and programs.
: Preparing audit and engagement activities report
: Performing financial statement review and evaluation results.
: Discussion with the Company's owner/partners accounting policies and procedures and assist in other areas that might arise.
: Advising our accounting matter
: Taxation services
: Recruitment services to our client (Accountant & Administration personnel)
: Preparing letter to management which includes significant internal control deficiencies, recommendations for correcting them and business advice development.