Chief Financial Officer CFO
Al Amjaad Trading and Manufacturing Company
Total years of experience :16 years, 8 Months
- Review and analyze financial statements and management accounts to identify trends, patterns, and anomalies.
- Prepare concise and informative reports for senior management and the board of directors to support strategic decision-making.
- Collaborate with stakeholders to develop and implement pricing strategies that maximize profitability.
- Work with the ERP and finance teams to automate financial processes and minimize disruptions to the business.
- Prepare and present the annual company budget to the board of directors for approval.
- Conduct feasibility studies for new projects and investments, and provide recommendations to senior management and the board of directors.
- Assess manufacturing capacity needs to support business growth.
- Manage cash flow to ensure that the company has the funds necessary to meet its obligations and pay dividends.
- Prepare and issue monthly, quarterly, and annual financial statements and management accounts.
- Coordinate with auditors to ensure compliance with all statutory audit requirements.
- File VAT, Zakat, and WHT returns on time and in accordance with all applicable laws and regulations.
- Maintain the general ledger, oversee all accounting and finance activities, and prepare and post month-end journal vouchers, cost control, and revenue optimization.
- Prepare budgets and issue comparative performance reports.
- Manage treasury and cash flow, including accounts receivable and accounts payable.
- Maintain fixed asset registers and implement and enforce internal controls.
- Identify and implement process improvements.
- Oversee and monitor contractual risks.
- Manage a team of seven direct reports and maintain adequate controls over the supply chain across the Kingdom, including three remote warehouses.
- Manage relationships with auditors, banks, major customers, and suppliers.
- Review the bill of materials with management to make strategic decisions about:
- Reducing production costs
- Deciding whether to continue or discontinue products
- Setting product prices while maintaining adequate margins
> Serve as the main point of contact for:
- External auditors
- Compiling and filing documentation with tax authorities
- Banks and financial institutions
- The General Authority for Zakat and Tax Administration (GAZT/ZATCA)
> Partner with:
- The commercial team to integrate internal controls into processes
- The commercial team to determine the appropriate revenue recognition approach
- The purchasing team to adopt best practices for the purchase process
- The production team to understand the production process and identify ways to reduce process and regular waste
- The HR team to identify cost-saving initiatives by reducing workforce requirements in the factory and administration
> Costing:
- Provide detailed costing and variance analysis of various production centers
- Create, implement, and manage the company's cost tracking activities to provide timely and accurate information to senior management for effective decision-making
⮚ Periodic closure of books and uploading in Hyperion
⮚ Periodic reconciliation of accounts
⮚ Responsible for ensuring accounting transactions are accurately recorded as per requirements of
IFRS
⮚ Employing E-sox methodology to plan, execute and finalize various audit activities.
⮚ I Performed annual Sox Gap assessment, Compliance, transactions/process walkthrough & testing
for Carrier entities in GCC (Saudi Arabia, Dubai, Kuwait, Qatar, Egypt, Lebanon).
⮚ Reviewing the conformity of financial statements with IFRS and US GAAP
⮚ Responsible for ensuring and implementing proper revenue recognition guidelines across the
region.
⮚ Review of taxation requirements and assessment across the regional entities.
⮚ I was involved in the WHT calculation and assessments.
⮚ I had the lead role in implementing VAT requirements in Saudi and Dubai entities.
⮚ Reviewed and approved controls in place during SAP implementation (Cash
payment/disbursement and Revenue cycle).
⮚ Review of contracts before finalization by management and booking in the system.
⮚ Liaising with external bodies (custom / DZIT) for any audit / verification work.
⮚ Liaising with external auditors
⮚ Helping in reduction of process timing by using ACE tools. (ACE is the combination of 7 basic tools
of quality and six sigma)
⮚ Guiding in finding root causes and implementing smooth process flow using ACE tools ensures
that internal control requirements are fulfilled.
⮚ Performing overall analytical review on financial statements
⮚ Performed Branch Audits for Carrier in Saudi Arabia and Dubai.
⮚ I assisted in the field audit for safety and Compliance.
⮚ Planning and conducting supervision of store and stock counts are various locations (planned and
surprise visits)
⮚ I was conducting quarterly branch visits.
⮚ Responsible for overseeing, planning, and executing the full scope of internal audit activities
(Financial, operational, Information technology, and Compliance), risk assessments, financial risk reviews.
⮚ Involved in International Audit Assignment (Audit of entities in Singapore and Thailand)
⮚ I Performed annual Sox Gap assessment, Compliance, transactions/process walkthrough & testing
for Saudi Arabia and other Otis entities in the Gulf region for Dubai and Kuwait.
⮚ Executing audit assignments in line with international standards on auditing
⮚ Identifying and reporting issues arising during the audit, rating them, and communicating the same
to the stakeholders and the regional management
⮚ Preparing reports highlighting internal control weaknesses, their implications and providing
guidance on how to rectify the same.
⮚ I ensured that the companies followed the regulatory, internal, and external requirements.
⮚ After discussing with the management, I have compiled and finalized the internal audit reports and
assigned the risk rating accordingly.
⮚ Implemented and executed the internal controls over financial reporting for accurate reporting to
the Head Office and the external auditors.
⮚ I have ensured the improvement of processes and procedures and ensured compatibility with the
UTC policies.
⮚ Successfully set up procedures required for performing branch audits.
Position : ASSISTANT MANAGER Role : Managing Overall Audits Business Type: Audit, Consulting
●Activities:
⮚ Develop general strategy, audit plan, budget, audit programs, and Audit Summary Memorandum ⮚ Ensure application of new technical pronouncements and identify areas of potential risk
⮚ Delegate work to the staff, perform reviews, and give appropriate directions for work progress
⮚ Team management and evaluation of staff performance and active roles in promotions and ratings of the staff member
⮚ Address and resolve significant accounting and auditing issues raised
⮚ Obtain an understanding of Client's Accounting and Internal Control System
⮚ Analyzing KPIs for various entities
⮚ Preparing reports and consultation memos on audit working papers, differences in opinions, and Compliance with GAAP requirements and regulations
⮚ Preparing annual and limited scope financial statements for the statutory purposes
⮚ Obtain appropriate audit evidence through substantive analytical procedures through the use of various tools
⮚ Handle quarterly and semiannual analytical reviews of a large clients' financial statement.
⮚ Prepare Individual and Consolidated Financial Statements
⮚ Perform budgetary analysis of engagements, including planning, revenue recognition from an engagement, accounts receivable follow up and revenue budgeting, and analysis of work in progress
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