محمد المزمل رکن الدین

Financial Accounting & Reporting: Management of group centralized GL function and overseeing the process of monthly books closure as per applicable IFRS, IAS and policies ensuring the month close is completed on time, in line with the reporting calendar, and that all checks & controls are performed, and that monthly MIS reports are produced accurately on time

Management Accounting & Reporting: Responsible for generating periodic management accounts. Viz. Flash Report, P&L Report, Monthly Finance Pack on agreed time schedules and acting as decision support system for top management

Audits: Ensuring Financial statements are prepared, audited and signed as per agreed timelines

Treasury: Lead the cash management and forecasting process. Responsible for presenting monthly and quarterly cash flow forecast for working capital management and overseeing the credit facility utilization and trade financing

VAT Compliance & Filing: Overseeing that the Group is VAT compliant by ensuring monthly filing of VAT returns as per the statutory timelines and regularly updating ERP system by implementing the latest amendments in VAT regulations

Corporate Income Tax/Zakat/Withholding tax/Transfer Pricing and Economic Substance Reporting Compliance: Responsible for corporate tax & zakat compliance by the business, ensuring the periodic filing of withholding tax and annual zakat and Income tax returns as per the statutory timelines and compliance of newly introduced Transfer Pricing law in KSA and Economic Substance Reporting in UAE

Payable Management: Management of the group centralized AP functions by ensuring that the suppliers (foreign and local) are paid within their due dates

Financial Modelling: Creation of Excel based templates for management accounts, revenue and margin analysis, expenses, monthly/Quarterly cash flow and treasury reporting

Treasury and Tax Leader
Successfully managed JV integration budget and reporting of pre-incorporation financial to JV partners
Played important role in implementation of ERP system for the JV by leading the UAT and successfully setting up a clean and compliant supplier master data base
Lead and Successfully performed Inventory and Fixed Assets valuation as part of JV formation
Developed the process for doing business during “Black out” period and lead KSA finance team during black out and infant care period
Lead and successfully implemented inventory provisioning policy, AP and AR process in alignment with Cummins global standards for the JV
As Treasury and Taxation Leader
Management of short term and long-term cash flow projections to analyse funding requirements and negotiation of credit lines with banks
Management of VAT compliance for Cummins Arabia JV entities in KSA and UAE
Tax/Zakat Compliance: Ensure Group is fully compliant with Income tax, Zakat, withholding tax and Transfer Pricing regulations by the company
Responsible for preparation of timely and accurate financial reports including P&L, balance sheet, cash flow and board reporting packs along with commentary, analysis and KPIs within the company to ensure timely, accurate and reliable information is available to the management and acting as decision support system for top management
Preparation of long-term strategic plans, annual operating plans and forecasts on overall company level as well as bottom up planning at geographical location level, cost center wise budget allocation and monitoring against actuals.
Key Achievements:
Successfully managed joint venture integration activities for smooth business transition
Successfully Lead VAT implementation project for KSA and UAE entities
100% achievement of timelines for submission of monthly VAT, Withholding tax returns and annual tax & zakat return

As a Chief Accountant Lead the team of 6 members. Key tasks of this role included
Responsible for managing periodic (monthly, quarterly, half yearly and annual) closing activities. It includes key activities of ensuring accurate revenue & margin, amortisations, provisions, balance sheet reconciliations, inter-company balance confirmations, periodic reconciliations with suppliers and bank reconciliations.
Lead the preparation of timely and accurate financial reports including P&L, balance sheet, cash flow, Management report and board reporting packs along with commentary and analysis and analyse key financial data and KPIs within the company to ensure timely, accurate and reliable information is available to the management.
Responsible for preparation of monthly flash and submission to management along with commentary and analysis.
 Overall responsibility of managing foreign payable and group treasury funding including hedging foreign currency through forward cover.
Overall responsibility of maintenance of fixed assets, inventory accounting. To ensure that accounting activities comply with relevant legal and professional standards. Benchmarking against best practices and implementing improvement actions. Presented business case for change of inventory provisioning policy from historical aging based policy to more forward-looking demand based provision.
Successfully Conducting annual physical count of inventory and fixed assets across 9 branches in KSA and Kuwait for five years within the given time frame.
Overall responsible for sys System interface between Automaster and MFG Pro and training team members in finance team.

Key Achievements:
100% achievement of timelines for submission of month end and year end results.
Successfully implemented Inventory Binning Module in Automaster within the given time frame.
Redesigned and developed Fixed Assets Register, TB & GL templates for MFG/Pro and Inventory and Sales reports for Automaster as part of system improvement and process automation.
100% track record of managing foreign supplier payment without delay.

Business Process Reengineering Analyst (For ORACLE Implementation Project)
Lead the team of two process analyst.
Key responsibilities included
 Understand & analyze AS-IS, TO-BE process developed by Deloitte and relate the gaps/weakness points.
 Reengineer To-Be process ensuring compliance with relevant legal and professional standards. Benchmarking against best practices and implementing improvement actions.
 Implementation of organizational policies and standard operating procedures across all departments and entities.
 Training of employees across all departments to ensure compliance with organizational policies & procedures.
 Successfully carried out data cleansing activities and designed base template for creating customer and suppliers master data across all entities.
 Developed KPI's for performance evaluation of a division, department and individuals across the organization.

Key Achievements
 Successfully implemented organizational policies and standard operating procedures.
 Successfully conducted training of employees across all entities.
 Successfully developed customer and supplier master records.

Credit & MIS Analyst and SAP support.
 Monthly MIS Reporting of All businesses in compliance with Shell global policies and adhering to strict deadline with a view to assist management in critical decision-making process.
 Timely generation and dissemination of Customer Exposure reports which include: Ageing reports, customer overdue reports and DSO analysis on a monthly basis.
 Prepare Monthly & Quarterly Performance Management reports and packs to the businesses and Global Credit function.
 Monitoring and reviewing monthly accruals and provisioning of all businesses and providing forecast.
 Report company’s performance for GPMR against the budget and forecast.
 Overall responsibility of maintaining Customer Data base/Record in system.
 Worked closely with SAP/GSAP implementation team as the focal point for credit data migration.

Key Achievements
 100% achievement of timelines for submission of monthly & quarterly performance reports.
 Successfully carried out data cleansing exercise for SAP/GSAP implementation.
Successfully managed customer migration of credit data base into SAP.

Handled and involved in the statutory Audit as per generally accepted audit standards in India.
Examines, on a test basis, the client’s books of accounts and other evidences supporting the amounts and disclosures in the financial statements to check the validity of transactions, to verify compliance with the applicable tax regulations and to determine whether transactions are recorded in accordance with the Indian GAAP.
Handled and involved in the internal Audit, Assessed and recommended in strengthening the internal control procedure.
Conducts a review of clients’ internal controls and prepares an “Internal Control Memorandum” for those issues identified which are in relation to the internal control weaknesses.
Handled and involved in the internal Audit, Assessed and recommended in strengthening the internal control procedure.
Conducts a review of clients’ internal controls and prepares an “Internal Control Memorandum” for those issues identified which are in relation to the internal control weaknesses.
Performed Fixed Assets verification.
Review the company’s financials and calculate key financial ratios to analyse the financial condition of the company.
Handled physical verification of Stock for statutory audit purpose
Lead the team in statutory audit assignments

Responsible for Maintenance of books of accounts.
Tax Compliance.
Tax Assessment