Financial Reporting Manager
TheRig.
Total years of experience :18 years, 10 Months
• Establish and maintain financial policies and procedures for the company.
• Review financial data and prepare monthly and annual reports
• Present financial reports to board members, stakeholders, executives, and clients in formal meetings
• Seek out methods for minimising financial risk to the company
• Contract outside services for tax preparation, auditing, banking, investments, and other financial needs as necessary.
•Managed financial data for all Fixed assets and CWIP which included
requisitions and inventories as per applicable Accounting Standards
(IFRS, SOCPA ).
• Managed Fixed Assets Registry (FAR).
• Ensured application of Fixed Assets and related policies
• Supervised CBUs in adherence with related policies and procedures
• Coordinated with related departments (Project, Fixed Assets, Asset
Management, Warehouse Management) to develop and apply
needed financial processes in order to maintain appropriate Fixed Assets
registry.
• Recommended to management any updates to accounting policies
related to fixed assets.
• Served as a member of the working committee including PwC
consulting that is creating a robust financial fixed asset register to meet
IFRS requirements. The role included assessing and reconciling all
available sources of fixed asset data (FAR, eAM, GIS) and creating data
collection and verification approach and plan, supervising above
ground assets, performing physical verification and tagging at
equipment level (as per the ARM), assessing the technical asset listing
that reconcile with the physical installed assets, CWIP (Capital Working in
Progress) cleansing process review and reconcile withproject data and
quality assurance of activities and deliverables.
•Ensure timely closure and reporting of the monthly management accounts.
•Lead and mentor the finance team, manage and appraise a robust and driven finance team to support the operation.
•Confirm the compliance with all statutory and tax reporting requirements for the assigned legal entity including acting as focal point for annual audits, tax returns and other legal filings.
•Prepare and analyze all financial planning (forecast and budget) in line with corporate schedules, and as per ad hoc requests of business unit lead and VP Finance.
•Act as business partner to general manager and operational managers to develop tactical business plan and maximize growth opportunities.
•Support the commercial aspects of the business for deal reviews when required, analysis of risk versus reward in commercial value terms, as well as budgeted costs pricing and margins.
•Contribute to continual process improvements to develop and streamline existing processes and to ensure robust controls exist across the Business Unit (including control points managed by non-finance personnel).
•Ensure strict adherence to the Delegation of Authority policy and travel and expenditure policy.
•Verify that balance sheets are fully reconciled on monthly basis.
•Provide operational finance expertise to general manager and operational managers in the reporting unit by analyzing the manufacturing and service data (material costs, direct and indirect costs, overheads allocation, efficiency, overtime, lead-time, asset utilization, etc.
Prepare quarterly/annual budget and financial plans/presentations for regional management.
Work with Fabrication Yard to identify the cause of significant variances from budget and forecast to actual results and report on significant variances.
Update the budget model as requested by the respective operating units to account for significant changes in the business environment.
Formulate the budgets relating to capital purchases, monitoring and reporting of budgets to corporate and local management. Further, liaising with operations managers to understand drivers of variances and agree monthly reforecasts.
FP&A
Act as liaison between operating groups and the Financial Planning and Analysis department to receive timely budget and forecast submissions.
Prepare management reports and other ad hoc reports derived from financial information, transforming data into information usable by all levels within the organization.
In-depth financial analysis coupled with preparation of periodical well designed MIS reports at the end of each reporting period for effective presentation and understanding of financial position.
Coordinate and ensure completeness of data load to Hyperion Financial Management system.
Responsible for initiating discussions on lending requirements with local lenders, including documentation and communication requests for financing. Review and execute banking documentation, including confirmation of compliance with conditions precedents and terms of financing, as well as communicating the same to the finance department for on-going monitoring. Review and submit required information to existing and prospective financiers in collaboration with Corporate Finance and Finance department team members. Assist Corporate Finance and Finance departments in completing required transactions related to bank accounts or portfolios. Complete monthly reporting, forecasting, balance sheet, and profit and loss statements. Prepare bank, payables, and receivables reconciliation, as well as analyse complex financial reports and records. Support annual audits, and communicate and adhere to closing schedules, reporting and filing deadlines.
Promoted to accounting supervisor, deftly negotiate amendments to financing terms and documentation presented based on a review of initial terms and input from the Corporate Finance department.
Maintain and develop productive, long-term professional relationships with key personnel at all levels within existing and prospective banks to ensure flawless execution and comprehensive follow-up.
Deftly support Senior Supervisor and Finance Manager, ensuring efficient and accurate operations at all times.
Integrated software solutions to more effectively verify petty cash/reconciliation, prepare/submit withholding tax application documentation, complete depreciation entries, align with fixed assets register, and review purchases, journal, and cash entries for errors.
Make key recommendations based on in-depth analysis and status evaluation of reserves, assets and expenditures.
Issued and renewed resident permits (Iqama) and work permits.
Wrote Arabic authorizations letters to the government authorities.
Issued a single and multiple exit- re-entry visas throw muqeem or absher.
Analyzed Quarterly P&L and Balance Sheet summary Actual vs. Budget vs. Reforecast submission and provided findings to Senior Financial Analyst.
Assisted Senior Financial Analyst with planning, preparation and review of all budget and quarterly update submission including all related presentation packages.
Assessed competitors to enable the company to make the necessary changes in their value delivery mechanisms.
Handled audits and workings for client information support services.
• Followed rules and regulations to ensure the safety and operation of plant and equipment
• Supervised activities of construction and maintenance activities
• Identified tools and equipment needed to perform an complete projects in an efficient manner
• Collaborated with Power Plant and Chemical Plant Operator on various projects as requested
Relevant Coursework: Advance Financial Reporting/ UK Taxation/ Financial Tools for Planning & Decision Making. Clubs/Activities: ARU Finance Club. Relevant Projects: Threats to Auditor Independence: The Impact of Non-audit Services After The Enactment Sarbanes-Oxley Act of 2002 / Starbucks -Strategic Management Analysis