GeoMarket Financial Controller
Schlumberger
Total years of experience :14 years, 5 Months
Manage 40 finance professionals in handling financial operations for all business units with this $1B revenue and over 1, 600 employees. Performing long-term business planning, budgeting and strategic forecasting. Develop and institute key financial and internal processes to address treasury challenges.
- Successfully implemented a complete P2P (Procure to Pay) process improving payment on time by 30%; also coordinated strategic client tendering and business forecasting in both short and long term timeframes.
- Efficiently reduced operating costs by rationalizing projects and improving processes despite shifting market conditions in the oil & gas sector - Various projects in facilities, logistic and compensation leading to 150bps profitability improvement
- Developing strong finance team (On job training, internal promotion and development plans)
Responsibility of the Financial department (including Treasury, Tax, Project Finance and transactional departments) managing a team of 20 employees with over financial responsibility for all business segments in the country (Turnover $400M+ and Head Count 400 employees)
Achievement :
• Reducing the Days Sales Outstanding Receivables (DSO) by 40% from historical trends during 2011 and 2012.
• Maintaining profitable margins for the business by applying various cost measures despite higher market inflation (Over 40%) and changes in the mixture of revenue sources
• Setup strong internal controls procedures across all locations
• Successful achievement of acquisition process for the business.
Essential Responsibilities and Duties:
• Responsible for the overall financial management, profitability, forecasting and budgeting
• Responsible for monitoring the working capital within the country by keeping DSO, Capex, Inventories and Liquidity indicators at optimal levels
• Develop and direct financial plans to the strategic business plan
• Assess creditability of the new clients and ensure secured collectability
Responsible for Qatar Finance Center and all related accounting and financial transactions for Qatar along with overlooking on Yemen business and provide the Financial Support required. Activity participates in two main projects for internal / external outsourcing for Accounts payable and Management Accounting.
Achievement:
• Establishing a strong internal controls for location which results to have no major findings in the Internal Audit performed by HQ in 2011
• Having smooth transition for Accounts Payable outsourcing with no impact on suppliers' payments
• Successful move of Internal centralizing to the Management Accounting function
• Setup various country specific procedures for effective internal control in procurement, Finance and IT department
• Reduction of 35% from base cost by effectively coordinate with all department for better utilization of resources and alternative cost measures.
Essential Responsibilities and Duties:
• Consolidation and reporting of monthly/quarterly financials to management and area
• Monitoring cash flow, collection forecasts, and various finance key performance indicators - payment on time, open purchase orders reports, day’s sales outstanding, internal invoicing days.
• Formalizing and review of the yearly internal control questionnaire across all functions and business segments, implementing action plan and close out of open items, in line with company policies
• Dealing with clients and vendors as and when situation demands
• Liaising with banks, internal and external auditors
• Team Management - Accounts payables, Accounts receivables, Treasury and Management Accountants
Responsible for overall financial management and coordination of couple of the company's segments in Oman by assessing business trends, developing root causes of business issues, complying with Segment's accounting practices and identifying opportunities for reduced costs and improved productivity/efficiency.
Achievement:
• Promote the level of support to operation team and act as business partner in all related decisions.
• Awarded multi-segment tender expanding 50% of one type of business
• Setup of new base and ensure all Financial procedures are followed
• Improvement of the Inventory controls and cycle counts and minimize the usage wastage
Essential Responsibilities and Duties:
• Responsible for the overall financial management and profitability.
• Responsible for monitoring the working capital within the Segment such as Asset efficiency measurement/tracking and optimization of inventory level.
• Understand store and inventory processes to ensure optimal store' level by category of M&S and assessment of future business needs.
• Ensures that all financial transactions are recorded in compliance with the SLB policies and procedures. Ensure adherence to corporate ethical policies and internal controls.
• Reviews all major tenders (risks and opportunities), contractual terms and evaluate impact on IBT associated with pricing in bids vs. optimization of people/resources
• Coordinate the preparation of all financial forecasts and ensure that the goals are challenging but realistic relative to overall market expectations and available resources.
• Review and examine the financial impact of new and existing investment opportunities with a view to maximizing the Segment's return on investment (ROI).
Responsible for taking actions that ensure transactions impacting the financial reports are properly monitored, controlled and posted to the general ledger in the proper period by review the balance sheet accounts, and P&L preparation with full control over systems
posting and reporting.
Essential Responsibilities and Duties:
• Participation in physical count (inventory, fixed assets) and reconciliation with subledger.
• Performing treasury reporting, controlling currency risk and associated exposures
• Performing monthly analysis for countries’ major segments income statement and balance sheet notes.
• Monthly consolidating and reporting for the company’s branch financial results, all management and overhead reporting.
• Tax accountant by following up with all tax issues in Syria and Jordan (fiscal accounting, monthly tax Payments, Final Settlements, Withholding tax, tax assessments…etc.)
• Performing the monthly bank reconciliations and cash reports
• Performing Interim and Final Audit for Trading, Manufacturing companies and Non- profit organization.
• Preparation Letter of Recommendation Addressed to Management.
• Preparation of Financial Statements
Final Thesis: Fundamental Analysis for Oil & Gas equipment and services companies.
