Finance and Accounting Head
ACWA Power - RAWEC
Total years of experience :17 years, 6 Months
RAWEC, a multi-billion dollar project company, is wholly owned & managed by ACWA Power which produces power, desalinated water and steam for Petro Rabigh Complex, a project of Saudi Aramco and Sumitomo Corporation.
In this role my core responsibilities are as follows:
- management reporting \[ executive management, board, and shareholders\]
- budgeting, forecasting and business planning
- ensuring budgetary compliance for O & M Co
- managing company taxes
- ensuring corporate compliance
- managing company finances and making short term investments of free cash
- ensuring compliance with financial covenants
- managing accounting operations in SAP accounting environment
- managing audits - statutory audit, internal audit and tax audit etc.
- assist to update operating model and review from the accounting perspective
- maintain and ensure compliance with accounting policies and procedures and IFRS
- Secretary to the Board of Directors
- Secretary to Board Audit & Risk Management Committee
Achievements:
SAP implementation
VAT implementation
IFRS convergence
Restructure management reporting
Resolved preceding years tax assessments
Set KPI based performance monitoring of the department
Updated accounting manual in line with VAT and IFRS
Al Rashed Food Co is group company of Rashad Al Rashad Group, a leading manufacturing and FMGC company expanded its operation in Saudi Arabia and UAE.
In that role as Accounts and Finance Head reporting to Finance Director, my role responsibilities were as follows
Supervise accounting operations (revenue generation, expenditures, payable, receivables, fixed assets, inventories) in Oracle accounting environment.
Build cost for new products and advise pricing strategy to sales and marketing department
Perform financial analysis to set procurement strategy
Monthly management reporting to executive management and group Head Quarters
Annual budgeting and monitoring of budgetary compliance to keep tight control over costs
Manage cash flow through tight credit policies in line with company policy and timely disbursements to suppliers
Manage audits - internal audits, statutory audits
Key Achievements during that role:
- Revamped financial and operational controls to improve control environment, reduced operating costs and increase efficiency and effectiveness of operational activities
- Implemented Oracle-JDE accounting System
- revisited costing strategy for existing and new SKUs
Adam Milk Foods is a manufacturing and FMCG company, a market leader in cheese and dairy products in Pakistan.
As CFO was reporting to CEO where I have led accounting, finance, costing, taxation and corporate functions of the company more than 3 years.
During this period, we have achieved the following major milestones.
- improvised control environment reduced operating costs and increased efficiency and effectiveness of the processes.
- introduced and monitored departmental performance through structured KPI’s.
- financing cost reduced through better financial planning and re-negotiation with banks for better interest rates
- member of strategic planning committee assisted executive management with SWOT analysis for new projects.
- Had been key contact for all the major stakeholder (financial intuitions, insurance companies, customs, tax department, supplier and key customer) during the period
- Implemented In-house developed financial information system
During the period of approximately four (4) years with “Ernst and Young”, I was involved in various assignments in Business Advisory Services. These assignments include GAP analysis, Business Control Reviews, Process Re-engineering, accounting manual preparation, enterprise risk assessments, internal audits, external audits, SOP’s Development, Transaction reviews, review of internal controls over financial reporting (ICFR) and special assignments. During the period, I have worked on the following sectors:
Business Sector:
Power Generation Power Distribution
Construction Real Estate
FMCG Manufacturing
Health Care Education
M.Com E
Chartered Accountant Associate Member of ICAP
1. Public Finance Accountant 2. Fellow Member of PIPFA