Budgeting, Planning & Performacne Analyst
Saudi Arabian Mining Company - Ma’aden
Total years of experience :15 years, 1 Months
Worked with all level of the organization management to develop and implement successful consolidation processes for the enterprise’s long term strategy, 5 year business plan & performance reporting ~ $2.9B Assist CFO in providing critical budget consolidation and analytical reports. Key areas of emphasis included:
Developed and successfully implemented budgeting tools on Hyperion.
Partner with industrial and consulting experts to develop corporate financial model for standalone and consolidate financial projections.
Prepare variance analysis for Ma'aden monthly, quarterly and yearly for Audit Committee and Board of Directors.
Managed and improved companywide budgeting and planning processes by providing guidelines, tools, financial models and training.
Identified key strategic drivers and worked with the businesses to cascade the drivers into budget and business plans.
Conducted cost and benefit analysis report for different projects and advise management accordingly.
Worked with consultant for implementation of Hyperion Strategic Finance.
Supporting actively in development of yearly KPIs & value tree.
Prepare cash cost analysis of all companies and comparison with budget along with variance analysis.
Work with Strategic business Units (“SBU”), McKenzie Consulting, and corporate functions to develop presentation of financial transactions and analysis for management.
Contribute to the determination, assessment and communication of internal factors that determine the economic outlook of the company.
Prepare Ad-hoc analysis and reports for management.
Coordinate with all business for key production related assumptions and critically evaluate the reasonability of those assumptions.
First time adoption of integrated 1+4 years budget and business plan process and successfully implementation after Board approval.
Assist central treasury department of Ma’aden in projecting cash flows surplus and deficits.
Support Strategy team for enterprise strategy development.
Prepare consolidated financial statements and managing group GL for the Group as per International Financial Reporting Standards and SOCPA regulations.
Incorporated three companies (Areab, MTN & Mbeet) as successful startup and ensure the smooth running of Financial and Accounting operations.
Managing Financial Reporting of Projects valuing Sulay Warehouse (SAR. 118M), Danah Plaza Hafr Al Batin (SAR. 22M), Chandelier Riyadh (SAR. 32M), Maqsad Riyadh (SAR. 18M), Al Srha Makkah (SAR. 40M).
Analyze current and past trends in key performance indicators (Variance analysis), in all areas of revenue, cost of sales, expenses and capital expenditures.
Supervising the work of VAT as per KSA Law to ensure timely submission of VAT returns and also resolve the VAT Authority queries.
Built with cooperation of Tiraz Real Estate detailed Project Finance Models utilizing a variety of financing structures and incentive policies for Villa Project (Shared project of Danat and Tiraz Co.).
Responsible to facilitate external auditors in conducting statutory audit of all group companies and Zakat filing.
Develop and update valuation models and perform cash flow, transaction analysis for comparison.
Responsible for managing group General Ledger including Accounts Receivable / Accounts Payable and periodic closing of General Ledge on monthly basis for the purpose of reporting.
Implemented ERP System in all companies, responsible for ERP system of the group, recommend changes to ERP modules for reports and review the recommended changes by ERP consultants.
Manage working capital of Group companies by ensuring that all suppliers are paid accurately and timely, all revenue collected within agreed terms and cash positions reflect banking terms.
Manage the continued development of Budgeting, Financial Forecasting, Operating Plan and Modeling tools.
Responsible for managing group General Ledger including Accounts Receivable / Accounts Payable and periodic closing of General Ledge on monthly basis for the purpose of reporting.
Supervising the work of Receivables and payable executives to ensure smooth operation of relevant tasks.
Assisting CEO in the development and implementation of transfer pricing policies in Group companies.
Implemented and used Cloud based ERP system (XERO) for companies as per management requirement to always have updated Financials for their decision-making.
Provide on time all financial information that will assist senior management in making Strategic decisions at the right time.
Reporting directly to the Group Chief Financial (CFO) of the Company.
Monitoring the Reliability of Financial Reporting, Compliance with Laws & Regulations and Safeguarding of Company Assets.
Preparation of Monthly, Quarterly, Half-Yearly, and Annual Financial Statements
Conducting the Month-End Closing Activities with the Preparation of Management Accounts (MIS) and a Detailed Analysis and Commentary on Notable Variances.
Dealing with all Contractors (Rabya) and Sub Contractors (Zuhair Fayez) regarding the payments issuance on timely basis.
Coordinate with Project Management Services (CIMS) on Contractors and Sub Contractors completed work invoices and resolve underlying issues.
Making the Payment Order as agreed with and getting it signed by Management to make sure only completed work has been paid.
Mediating with External Auditors, while assuring conduct of Audit in streamlined manner and within present timelines.
Timely payments of With Holding Tax at month end to make sure tax department requirement are fulfilled.
Compiling and analysing the Monthly Management Reporting supported with Analytical Reviews (Financial Performance Management) to satisfy the Stringent Deadlines.
Steering the consistent responsibility to Control Costs and Enhance Efficiency, while ensuring extraction of Purchasing Procedures with the most concessions from suppliers.
Handling Annual Budget & Cash Flows preparations and offering advice on suitable Allocation of the Shared Costs and Revenues, thereby ensuring actual reflection of Unit Performance in the Management Accounts.
Ensuring a full backup to CFO and assisting COO in daily operations of the Bank.
Maintaining good relations with the Bank to recommend Opening and Closing of Bank Accounts and surveying the Market for Best Rates of Short-Term Placements (as required).
Managing Staff Payments, accurate and on-time Supplies and Social Security, verifying consistent Supplier Reckons, while approving the same.
Preparation and verification of the staff payroll and making sure the timely payments.
Handling Accounts Payable Management, Dealings with Vendors, and Development of Chart of Accounts.
Keeping close eyes on ageing of payable and receivables and maintain record for follow up.
Monitoring the Reliability of Financial Reporting, Compliance with Laws &Regulations and Safeguarding of Company Assets.
Supervising the Preparation of Monthly, Quarterly, Half-Yearly, and Annual Financial Statements.
Ensured effective Planning & Co-ordination of Assignments to meet Stringent Deadlines, encompassing Supervision, Training, Review, and Motivation of Team Members, being a Senior Member of Himont Group.
Coordinating closely with the Senior Management in the role of a Consultant, via provision of Advice, Guidance, and Influence over complex Decision-Making Processes like New Division launching, Analysis of various Market Factors including salt demand in market
Compiling and analyzing the Monthly Management Reporting supported with Analytical Reviews (Financial Performance Management) to satisfy the Stringent Deadlines.
Interacting with the Group Companies for Inter-Company Invoicing and Reconciliations.
Keeping records for outsource accounting assignment and keep updating records and reporting to client
Preparing outsource client payroll, Bank Reconciliation Statements, Income statement, Balance Sheet and Cash flow statements.
Preparation of planning and strategy documents for audit engagement
Prepared lists of fixed assets existing in Enterprise Resource Planner (ERP), tagging Code for audit purpose.
Designing and implementation of cost audit using different cost model.
Perform variance analysis and stating reasons, vouching and tracing Cash Payments, Expenses, Bank Payments and Receipts