Head of Finance and Administration
Al Osais Inabensa Co. Ltd
مجموع سنوات الخبرة :10 years, 2 أشهر
Achievements:
• Developed Strategic Financial Plan in order to improve working capital and profitability which helped to increase projects profit from 5% to 9%.
• Developed Financial and Risk Strategies
• Successful Implementation of New accounting software.
• Development of Finance Department Policies which helped to improve governance and profitability of the company.
Main Responsibilities
Budgeting and Financial Planning and Modeling:
• Prepare business plans and financial strategies of the company.
• Prepare financial plan of the projects
• Prepare Quarterly and a yearly budget of the company.
• Prepare Monthly cash flow and forecast with the liaison of banks, client, suppliers, and departmental heads.
Treasury Functions:
• Negotiate with the bank regarding the facilities for projects, commission and interest charges etc.
• Responsible for company’s treasury function like cash Management, Loan Management, post financing etc.
• Coordinates with the banks regarding the financing of the projects and facilities such as LC, Hedging, invoice discounting, Advance payment, retention, guarantees etc.
Financial and Management Reporting:
• Prepare and analyze Financial Statement with commentary for Executive Management.
• Preparation and presentation of monthly management accounts to the executive management within strict deadline along with the re-forecasting of the following 12 months.
• Monitor and control budget variance analysis on monthly basis and investigate the reason of those variances and recommended the corrective measures.
Risk Management:
• Assess the liquidity, Operational, Financial, compliance, and business Risk Company may face and prepare the appropriate strategy in order to mitigate the risk.
• Responsible for Negotiation with banks about banking facilities, including loans, discounting, post financing etc, decreased debtors day and increased creditors day in order to avoid the exposure of liquidity risks.
• Developed policies and procedures for effective compliance in the business and maintained the strong internal control on Cash, Assets and other resources to mitigate the operational risks.
• Negotiate banks for project financing, facilities in order to avoid financial risk such as Exchange rate risk, Interest rate risk, and Cash flow risk.
• Deals with DZIT, Insurance Companies in order to mitigate compliance risk by providing the timely submission of Tax and Zakat submission, getting the appropriate insurance for the Staff and property etc.
Operational Activities:
• Maximize the working capital of the business at all time.
• Monitor month end process including accrual, Revenue properly recognized and critically analyses the trail balance.
• Review Monthly Opex cost and takes appropriate action accordingly.
• Manage financial and administration team in order to achieve company’s financial goal. Ensure all regulatory requirements of all statutory bodies are met regarding all the company’s financial affairs.
Annual Audit& Zakat and Tax:
• Preparation of financial statements for external auditors.
• Prepare annual tax and zakat return.
