Head of Commercial Project Management GT GS Siemens, Saudi Arabia.
Siemens
Total years of experience :18 years, 10 Months
Key Job Responsibilities
Working as a head of Commercial Project Management Organization managing the financial aspects of Turnkey Projects of more than 900` MEURO as a portfolio.
• Strongly involved in integrating the accounting principles and processes from IFRS to US GAAP in the following areas;
- Revenue Recognition Principles
- Project Costs and P&L View
- Project Hedge & Forex Accounting
- Purchase Price Accounting Reconciliation
• Partner with Project Manager & Operation Team to achieve the financial targets for Sales, Cash In, Past Dues and Retentions.
• Enable factoring and look for factoring opportunities by improving pre-billing & billing lead time.
• Ensure timely & US GAAP compliant Revenue Recognition supported by proper documentation.
• Ensure full compliance with contract T&Cs including billing and collection (LC, payment against documents)
• Support closing team in analyzing the reporting activities for receivables, unbilled, Contract accruals
• Prevent WIP/ CTC aging in closeout projects.
• Active collaboration with local and Hub management for preparation of BU budgets for the year.
• Monthly review of actual cost and comparison with budget to compute and keep record of the variances.
• Optimizing and monitoring sales, profit and cash flow.
• Manage financial and contractual obligations & contingencies.
• Analyze the work in progress and review the actual cost and commitments of the Projects.
• Monthly, quarterly & annual financial closing of BU.
• Monthly, Quarterly and Annual Forecasting & Reporting of KPI’s, Risks, Opportunities & budget variances to Management.
• Preparation & presentation of financial dashboard, commitment & cash exposure analysis in the monthly KPI review meetings.
• Full responsibility to coordinate for internal & external audits especially for projects.
• Provide support to bidding team in preparation of financial proposals.
• Review for exposure of BU open Bank Guarantees.
• Claim Management
• Changes / Variations Management.
Key Job Responsibilities
• Project Controlling:
• Team member as a project controller for following projects,
Mirfa 400/220/33 KV Grid Station worth 99 MEURO
Mahawi 400/132/33 KV Grid Station Worth 106 MEURO
Shamka 400/132/33 KV Grid Station Worth 85 MEURO.
• Close coordination with the project managers & teams for the timely execution of turnkey project within the budgeted time frame and cost (Avoidance of Liquidated Damages, Direct & Indirect Damages)
• Controlling and updating of project cost, risk, billing, provisions, accruals & project reports.
• Monitoring and updated monthly Man hours cost for proper booking.
• Monthly update of projects status in PLATO and PMTC +.
• Provide accurate and timely costs i.e. Revenue Recognition Method (POC).
• Preparation of Project Budgets, Monthly and Quarterly Estimates for Revenue, cash flow and receivable.
• Follow-up with customer for the release of payments and expired bank guarantees.
• Claim and change Management.
• Assistance in internal and external audits.
• Prepares project reviews, participates in risk mitigation actions and estimates to complete.
• Responsible for Project Setup i.e Project Creation with detail Networks and WBS creations in SAP. Along with that also responsible for Cost and Revenue Planning.
• Supply Chain:
• Support Project Manager in Supplier negotiations especially with respect to commercial / Contractual (Back to Back) terms and conditions.
• Evaluation of Supplier’s Prequalification process.
• Responsible for Timely issuance of Purchase Orders, GR / Service Entry Sheets in SAP.
• Assistance to Bid and Proposal Section:
• Assisting Proposal Team in Pricing, Costing, Finalizing of Commercial Terms and Conditions, Analysis of Legal and financial matters of Projects Funded by Donor Agencies i.e. ADB, World Bank, JBIC to NTDC/WAPDA & Private Clients.
• Contracts Drafting / Management:
• Contract Drafting Keeping in view FIDIC clauses for a balanced contract.
• Management of contracts made with customers and vendors. Also includes negotiating the terms and conditions in contracts and ensuring compliance with the terms and conditions, as well as documenting and agreeing any changes that may arise during its implementation or execution.
• Managing Contracts mainly for the purpose of maximizing financial and operational performance of the Company and minimizing risk.
• Prepare & Review annual O&M/Service contracts of private IPP.
• Project Controlling:
• Close co-operation with the project manager & team for the timely execution of turnkey project within the budgeted time frame and cost (Avoidance of L. D, Direct & Indirect Damages)
• Monitoring controlling and updating of project cost, risk, billing, provisions, accruals & project reports.
• Provide accurate and timely costs i.e. Revenue Recognition Method (POC, CCM) / Matching Principal.
• Preparation of Project Budgets, Monthly and Quarterly Estimates and Forecasts and asset management (receivables and inventories).
• Cost Controlling. Comparison of Plan Cost Vs Actual Cost and necessary corrective measures. SG&A Controlling
• Follow-up with customers for the release of payments (A/R) and expired bank guarantees.
• Claim Management.
• Conduction of In house Trainings on Commercial / Contractual Terms and Conditions to employees.
• Assistance in internal audits of the company.
• Prepares the Business Financial Execution Plan consistent with internal, contractual and regulatory objectives.
Managing all Commercial/Financial matters at Business Unit level. Brief Job Description includes:
• Meetings with Industrial Customers & Vendors especially on Commercial /Financial terms and conditions e.g.
Payment Terms
Mode of Payment
Margins/Profitability
Delivery Terms
Securities/Bank Guarantees
Advances/Balance Payments
• Commercial/Financial Evaluation of offers, Tenders, Contracts, & Purchase Orders.
• Commercial/Financial Correspondence with Clients, Vendors & Internal Deptts.
• Monitoring & Controlling of Sales Margin & Overheads.
• Monitoring & Controlling of KPI’s and ensure meeting the Budgeted Targets.
• Follow-up with customers for release of Payments and Bank Guarantees.
• Preparation & submission of claims against LC.
• Liaison & Follow with Banks regarding different matters of LC & Bank Guarantees
• Claim Management.
• Risk Management.
• Fixed Assets Administration.
• Arrangement of Seminars for product promotion and product awareness in different sectors of market
• Compliance of all Business Operations Guidelines and ensure successful completion of Internal & External Audits.
• Coordination for Inventory Audits.
• Ensure Compliance of Export Control Regulations.
• Ensure Compliance of Company Signature Mandate.
• Implementation of Compliance Program at Business Unit Level.
• Liaison with Finance Department regarding Payments of Vendors.
• Quarterly Risk & Opportunities Reporting to Management.
• Monthly, Quarterly and Annual Forecasting & Reporting of KPI’s
especially New Orders, Sales, EBIT, and Cash Flow to management.
• Working on “Systems Applications and Products (SAP)” for
Order Booking.
Turnover Booking.
Invoicing / Billing.
Dispatch Notes.
Issuance of Purchase Orders to Vendors.
GR/IR.
Analysis of Financial Reports:
a) COPA
b) OCC
c) Income Statement
d) Balance Sheet
e) Cash Flow Statement
f) Bank Guarantees
g) Accounts Receivable.
Level 1
GPA 3.66 Eleven A Grades
GPA 3.74 Four A Grades