Chief Financial Officer (CFO)
AK Group
Total years of experience :28 years, 1 Months
• Operations management: oversees all financial transactions, forecasting, and budgeting for both short-term and long-term business planning.
• Financial reporting: prepare and supervise all financial reports, including monthly, quarterly, and annual reports for submission to the Board of Directors.
• Cash flow management: handle cash flow monitoring and forecasting, including managing bank facilities.
• Strategic planning: direct the implementation of strategic business plans to ensure the company's goals are achieved.
• Performance measurement: develop effective performance measures, such as (KPIs), for each department\ company within the Group.
• Operational best practices: Develop and implement policies and procedures to ensure that financial transactions are processed securely in compliance with current legislation. Additionally, review \ approve the authority matrix over the system to ensure operational best practices are implemented..
• Employee benefit plans: Review \ recommend employee benefit plans, focusing on maximizing cost-effective benefits for employees.
• Acquisition process: oversee the acquisition process, including due diligence and negotiation of acquisitions.
• Auditing and compliance: liaise with auditors and supervise audit requirements to ensure the proper submission of final financial report and fill zakat and tax ontime. as well monitor any legal issues related to the organization and ensure compliance with all regulatory requirements.
• Insurance coverage: negotiate \ maintain appropriate insurance coverage for the group.
• Corporate/Operational Finance management (Focused on overseeing financial operations within the company).
• Accounting, Contracts, and Procurement (Managing financial transactions, contracts, and procurement processes).
• Treasury, Zakat, Taxation & VAT (Handling treasury functions and ensuring compliance with zakat, taxation, and VAT regulations).
• Ensuring the company complies with all legal and regulatory requirements.
• Risk Management (Identifying and managing financial risks within the organization).
• Assisting in formulating the company's goals and supporting tactical initiatives.
• Preparing strategic business plans for potential new projects and analyzing their feasibility.
• Monitoring and directing the implementation of strategic business plans.
• Managing the capital request and budgeting processes.
• Cash flow and cash forecasts management and managing bank facilities.
• Developing performance measures that align with the company's strategic direction
• Negotiating and approving appropriate insurance coverage.
• Investors, Auditor Relations (Maintaining relationships with investors and external auditors).
• Maintaining relations with external auditors and investigating their findings and recommendations.
• Assigns, reviews, and evaluates the work of the examination, analysis, and modification of ERP-System implementation.
• Prepare company’s strategic plan in the most effective and efficient manner, articulated annual business plans, and presented the same to the Board for approval.
• Monitor overall performance and management of the company’s business under delegated authority from the Board.
• Maneuver the existing business forward by identifying new, profitable opportunities and converted them into commercial contracts to achieve/surpass the established KPIs.
• Ascertain that proper internal audit processes/procedures are in place, and devised risk management plans to minimize business and finance risks.
• Monitor the execution of strategic sales/marketing plans targeted at capitalizing existing client base within established time frames/budgets.
• Scrutinize budgets, overheads and implemented key strategic decisions to reduce costs. Maximized leverage of brand equity by shelving products with low margins and introducing new products.
• Spearheaded the entire gamut of operations of all departments including HR, sales, marketing, finance, purchase, production and logistics, and ensured smooth execution of the work.
• Monitor performane different divisions respective budgetary guidelines, effected cost reductions, monitored logistics, controlled cash flow, negotiated payment and credit lines with financial institutions, customers, outsourcing agents in close coordination with heads of various departments.
• Keep close tabs on market dynamics. Collated information and formulated strategies to optimize performance parameters and business outputs.
• Prepared annual budget guidelines to optimize projects cash flows, managed working capital requirements, and reorganized processes for optimal utilization of financial structures..
• Scrutinized operational and maintenance cost estimates, whilst ascertaining achievement of established KPIs included in the budgets.
• Formulated and implemented financial and administrative policies/procedures with primary focus on establishing internal controls to ensure optimal utilization of company resources.
• Provided consultative support to planning and policy-making. Developed and directed the implementation of strategic business operational plans, projects and programs to include budgeting, real estate, inventory and conservation of assets.
• Analyzed capital structure, determined best mix of debt, equity and internal financing, resolved issues surrounding capital structure, identified/assessed areas of risk or control weakness and took actions to mitigate loss.
• Identified requirement of workforce, conducted training sessions to develop highly proficient accounting/finance team to achieve defined targets.
• Evaluated revenue and expenses to determine accuracy and ensured all transactions are managed appropriately.
• Directed the preparation of policies, procedures, statutory, quarterly accounts and maintained support records for consolidated financial statements/accounts for the entire department in line with standard accounting practices.
• Planned, organized, reviewed and evaluated all accounting procedures and policies to ensure transactions are efficient and accounting is accurate and complete.
• Supervised the preparation of annual budgets, business plans, quarterly business review, tariff feasibility analysis, and variance analysis while enabling smooth finalization of accounts for annual Audit.
• Improved monthly management accounts cycle and forecasting cash flows. Streamlined monthly, quarterly and annual reports, presented tailored financial business plans and budget to the management to facilitate decision making.
• Ascertained comprehensive strategy to integrate financial goals, including year-end tax and provisions for provisional and final tax declaration.
• Established and enhanced strong systems and processes in line with business needs, forecasted weekly/monthly cash-flow projections, and administered all payrolls, A/R, A/P, and cash management.
• Scrutinized/evaluated the adequacy/effectiveness of internal controls and quality of performance in carrying out assigned responsibilities and in line with organizational policies, plans, procedures, laws and regulations.
• Streamlined and controlled budgeting process in liaison with business managers, ensured timeliness and accuracy, analyzed variances, and suggested corrective actions.
• Developed forecast and budget models, performed trend/cost-benefit analysis, and provided financial consultation for credit control and debtors management.
• Controlled operating cost, monitored stock movements, implemented inventory building strategies to focus on "never out of stock" programs.
• Supervised all staff under purview to ensure financial responsibilities of the organization are carried out efficiently.
• Oversee and guide a team of highly qualified financial professionals in the management of all financial transactions.
• Led the development and implementation of standardization of accounts, systems including GL, A/P & A/R, cost accounting and financial reporting.
• Calculate estimates of operating and maintenance costs.
• Develop budgets and implement cost reduction measures in coordination with executives to maintain adherence to goals.
• Prepare and review profit and loss and associated financial statements, summaries, and other cost-benefit analyzes and draft all financial reports including cash flow, financial benchmarks, and long-term financial forecasts.
• Oversee human resources, administrative issues, compliance, security and safety, and management in accordance with regulatory standards.
• Oversee all critical elements of HR success. These are front-end and needs analysis, job postings, sourcing, and Salary scales.
• Manage all aspects of administration, liaising extensively within and outside the company to resolve issues related to facilities and operations.
• Collect and analyze data to detect deficient controls, duplicated transactions, extravagance, fraud, or non-compliance with laws, regulations, and management policies.
• Prepare detailed reports on audit findings.
•Inspect accounting books and systems for efficiency, effectiveness, and use of accepted accounting procedures to record transactions.
•Examine and evaluate financial and information systems, .
•Inspect Inventory, cash on hand, notes receivable and payable, negotiable securities, and canceled checks to confirm records are accurate
July 2001: Master in Accounting, Al-Albyte University, Amman, Jordan
Jan, 2000: Charter Accountant, , , , American Academy Financial Management, Colarado, USA.
Jan, 1995: Bachelor: Major \Accounting, , , , Minor\ Computer Science, Yarmouk University.