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Nowshad Haroon, Group Director of Finance & Strategy

Nowshad Haroon

Group Director of Finance & Strategy·Swiss International Group

United Arab Emirates

Doctorate, Doctor of Philosophy in Corporate Finance (PhD)

Work experience

Total years of experience: 20 years, 6 months

Group Director of Finance & Strategy

August 2021 - Present

Swiss International Group

Ras Al Khaimah, United Arab Emirates

August 2021 - Present

Presided over financial operations and strategic management for MEA portfolio of 27 business units ($50M+ p.a. revenue). Led talent, performance, and compensation evaluations of 37+ multinational and cross-functional senior finance professionals; delivered insights to Group President and CEO and to SBU managers to provide strategic oversight and ensure performance against KPIs. Partnered with executives to drive annual operating and capital budgeting processes and assess the feasibility of new programs/investments. Oversaw financial and management reporting and commercial finance activities for two core divisions.

• Enforced robust reporting structures for pre-launch and reopened business units, consolidating disparate reporting systems and embedding internal governance processes with SOPs for budgets, financial reporting, and accounting
• Coordinated organisational project management on initiatives spanning financial reporting/controls, labour control and cost and profitability management; drove portfolio development, expansion, and re-branding initiatives
• Drove continual system enhancements such as creating a specialised chart of accounts for new properties aligned to IFRS system to standardise accounting and reporting; installed new ERP to strengthen accountability
• Conducted investment appraisals, financial modelling and financial analytic decision making to ensure optimal deployment of capital investments, engineer growth and achieve target return on equity
• Set financial strategic initiatives to accelerate EBITDA growth: increased sales via strategic sales planning and helmed performance benchmarking, process improvement identification and inventory management optimisation
Company industry:
Hospitality & Accomodation
Job role:
Accounting and Auditing

Interim General Manager

June 2020 - August 2021

Royal Swiss Lahore (Unicorn Prestige Limited)

Lahore, Pakistan

June 2020 - August 2021

Orchestrated CFO /property management duties for $6.5M p.a. revenue business, overseeing financial performance, budgeting, forecasting, strategic planning, service initiatives, balanced scorecard performance and corporate policy compliance. Managed 11 HODs and 550+ associates to deliver business goals and led sales teams to maximise revenue growth/corporate client satisfaction. Analysed operational performance, productivity, and efficiency gaps to identify solutions to enhance value creation capabilities.

• Steered business through COVID-19 via crisis management and led post-COVID business re-opening strategy
• Set competitive strategies to cut operating expenses and grew post-COVID net profit margin from 11% to 23%
• Overhauled performance levels to attain GRI (Global Review Index) score increment of 96% (exceeding 80% average)
• Chaired key projects: built loyalty program generating $750K revenue in eight months and launched two new outlets
• Devised push/pull promotional strategy to increases market share by 35% and market penetration by 125%
Company industry:
Hospitality & Accomodation
Job role:
Hospitality and Tourism

Chief Financial Officer

February 2019 - August 2021

Unicorn Prestige Limited

Lahore, Pakistan

February 2019 - August 2021

Oversaw financial operations for a $100M multi-channel firm. Owned finance and accounting functions, presiding over organisational financial monitoring, C-Suite reporting (reconciliations/cash flow forecasts/financial statements), fiscal reporting, KPI implementation, risk management, investment decision appraisal, internal audits, cash and liquidity management, fundraising evaluations, goal setting/tracking, strategic budget management and financial accounting (general ledger, fixed assets, accounts payable and accounts receivable). Served on the leadership team to communicate strategic recommendations to CEOs/BODs and shape long-term financial planning. Devised all operational objectives, margin maintenance, and expense control strategies and aligned the development/implementation of operational plans with the company’s vision, mission, and corporate objectives. Led stakeholder relations with financial institutions and suppliers.

• Built financial/administrative functions for financial reporting, set policies and procedures to secure sound financial management/control and developed IFRS compliant financial reporting platform to ensure regulatory compliance
• Grew revenue from $25.3M ($3.4M operating loss 2017/18) in 2019/20 to $27.6M+ ($4.8M EBITA) and embedded scalable operations to support sustainable market growth whilst surpassing company revenue forecasts for the year
• Restructured departments and built new policies/processes to reduce payroll by $500K and overheads by $150K
• Headed all financial, purchasing, IT and HRD functions and coached and improved cross-functional team of 45
• Supervised revenue generation, expenditures, and strategic planning to ensure business lines operated within budget; optimised forecasting and met revenue projections ($25.9M 2019/20) and net income target ($1.7M above forecast)
• Guided major development project from startup phase: prepared operational budget, five-year capital budget plan and operation projections, set up ERP, prepared job descriptions and trained finance and allied department employees
• Carried out key initiatives: attracted and developed finance talent, consolidated finance activities in tax, treasury, and corporate accounting and accelerated cash flows by $120K via improved tax planning (20/21 financial year)
• Utilised financial planning, contracts/procurement, debt, and capital raising experience to facilitate business growth
Company industry:
Real Estate
Job role:
Accounting and Auditing

Group Director of Finance

July 2017 - February 2019

Sun Africa Group

Nairobi, Kenya

July 2017 - February 2019

Served as a transformative financial leader overseeing multimillion-dollar budget management and effective resource allocation to exceed profit and revenue goals. Monitored expenditure, cash flow and financial investments, interpreted complex financial data, chaired financial activities and ensured overall tax/regulatory compliance for seven strategic business units (SBU business portfolio)

• Spearheaded turnaround of hotel enterprise generating $14M revenue; increased revenue +14%, gross margin +13% and operating income +100%, surpassing productivity goals by $2.7M
• Reduce operating expenses by $1M via cost centre restructure by leading operational excellence programme
• Led and streamlined corporate team, reducing workload by 30% and headcount by 40% ($320K p.a. savings)
• Formed centralised procurement team to accomplish $700K+ savings (2018)
• Conceptualised labour efficiency initiatives with unit GM to increase productivity 13% YOY; reduced inventory holding cost by 35% to enable higher ROI and guided strategic initiatives to secure EBITDA growth of +12% YTD
• Set new accounting procedures to reduce close cycle timeline by 50% and rolled out unit-wide financial reporting systems, forecasting, budgeting, and cost containment procedures to reduce month-end reporting time by 50%
Company industry:
Catering, Food Service, & Restaurant
Job role:
Accounting and Auditing

Regional Financial Controller

November 2016 - June 2017

Sun Africa Hotels Group

Mombasa, Kenya

November 2016 - June 2017

• Held accountability of day-to-day accounting functions, integrated finance operations, managed forecast, budget as well as tax matters. Developed financial reports and ensured overall financial stability. Evaluated technical accounting issues for regulatory compliance.

• Managed all aspects of financial statement preparation, including monthly close process, trial balance, balance sheets reconciliations, and audit support, and preparing and presenting reports to management
Company industry:
Catering, Food Service, & Restaurant
Job role:
Accounting and Auditing

Group Financial Controller

May 2015 - September 2016

Al Kuwari International Group

Doha, Qatar

May 2015 - September 2016

• Co-managed business franchise ($8M revenue) and constructed group growth strategy covering 11 diverse SBUs
• Managed $18M+ high-growth investment portfolio and directed $8.7M acquisition/expansion of franchise business
• Transformed through financial restructuring and rolling out a new operating philosophy that ramped-up operating margins from 31% to 53%
Company industry:
Retail & Wholesale
Job role:
Accounting and Auditing

Finance Manager

April 2012 - March 2015

Saudi Arabian Trading and Construction Company

Riyadh, Saudi Arabia

April 2012 - March 2015

• Achieved all investment objectives and reduced operating expense by 21% annually utilizing a highly analytical and strategic thinking approach
Company industry:
Construction & Building
Job role:
Accounting and Auditing

Senior Financial Accountant

October 2008 - October 2011

Renaissance Service SAOG

Muscat, Oman

October 2008 - October 2011

Tracked company's financial status and performance to identify areas for potential improvement. Sourced methods to minimise financial risk. Researched and analysed financial reports along with market trends. Offered insightful information and expectations to senior executives to aid in long-term and short-term decision making. Measured financial data and prepared monthly and annual reports.
Company industry:
Catering, Food Service, & Restaurant
Job role:
Accounting and Auditing

Financial Accountant

May 2005 - September 2008

Bin Jarallah Group

Riyadh, Saudi Arabia

May 2005 - September 2008

Supervise financial department staff, including accountants and financial assistants. Offered updates and improvements for accounting systems such as payroll and invoicing. Assisted CFO in presenting reports to senior executives, stakeholders, and board members.
Company industry:
Manufacturing
Job role:
Accounting and Auditing

Education

Management And Science University

December 2022

December 2022

Doctorate, Doctor of Philosophy in Corporate Finance (PhD)

Malaysia

Cardiff Metropolitan University

October 2022

October 2022

Master's degree, Master of Law in International Business (Corporate Finance)

United Kingdom

Corporate Finance Institute

January 2022

January 2022

Bachelor's degree, Certified Financial Modeling & Valuation Analyst

Canada

Cardiff Metropolitan University

May 2018

May 2018

Master's degree, Master of Business Administration in Financial Management (MBA)

United Kingdom

GPA (rating): Excellent

GPA (rating): Excellent

The Institute of Chartered Accountants of Sri Lanka

December 2017

December 2017

Master's degree, Postgraduate Diploma in Business Finance & Strategy

Sri Lanka

Skills

Budgeting
Expert
Budgeting
Expert
Risk Management
Expert
Risk Management
Expert
Financial Analysis
Expert
Financial Analysis
Expert
Financial Planning
Expert
Financial Planning
Expert
Corporate Finance
Expert
Corporate Finance
Expert
Accounting
Expert
Accounting
Expert
Financial Planning and Analysis (FP&A)
Expert
Financial Planning and Analysis (FP&A)
Expert
Fundraising
Expert
Fundraising
Expert
Business Intelligence (BI)
Expert
Business Intelligence (BI)
Expert
Business Planning
Expert
Business Planning
Expert
Financial Accounting
Expert
Financial Accounting
Expert
Internal Audit
Expert
Internal Audit
Expert
Advanced Excel VBA
Expert
Advanced Excel VBA
Expert
Business Analysis
Expert
Business Analysis
Expert
Real Estate
Expert
Real Estate
Expert
Auditing
Expert
Auditing
Expert
Budgeting
Expert
Budgeting
Expert
Corporate Finance
Expert
Corporate Finance
Expert
External Audit
Expert
External Audit
Expert
Fixed Assets
Expert
Fixed Assets
Expert
International Financial Reporting Standards (IFRS)
Expert
International Financial Reporting Standards (IFRS)
Expert
Financial Audits
Expert
Financial Audits
Expert
Financial Modeling
Expert
Financial Modeling
Expert
Interpersonal Skills
Expert
Interpersonal Skills
Expert
Leadership
Expert
Leadership
Expert
Management
Expert
Management
Expert
Management Accounting
Expert
Management Accounting
Expert
Analytical Skills
Expert
Analytical Skills
Expert
Dashboards & Data Visualization
Expert
Dashboards & Data Visualization
Expert
Financial Analysis
Expert
Financial Analysis
Expert
Managerial Finance
Expert
Managerial Finance
Expert
Mergers & Acquisitions (M&A)
Expert
Mergers & Acquisitions (M&A)
Expert
Business Strategy
Expert
Business Strategy
Expert
Business Valuation
Expert
Business Valuation
Expert
Cash Flow
Expert
Cash Flow
Expert
Data Analysis
Expert
Data Analysis
Expert
Food & Beverage
Expert
Food & Beverage
Expert
Financial Reporting
Expert
Financial Reporting
Expert
Forecasting
Expert
Forecasting
Expert
Generally Accepted Accounting Principles (GAAP)
Intermediate
Generally Accepted Accounting Principles (GAAP)
Intermediate
Working Capital Management
Expert
Working Capital Management
Expert
Internal Controls
Expert
Internal Controls
Expert
Process Improvement
Expert
Process Improvement
Expert
Risk Management
Expert
Risk Management
Expert
Strategic Planning
Expert
Strategic Planning
Expert
Team Management
Expert
Team Management
Expert
Treasury Management
Expert
Treasury Management
Expert
Uniform System of Accounts for the Lodging Industry (USALI)
Expert
Uniform System of Accounts for the Lodging Industry (USALI)
Expert
Start-ups
Expert
Start-ups
Expert
Microsoft Excel
Expert
Microsoft Excel
Expert
Project Finance
Expert
Project Finance
Expert
Relationship Building
Expert
Relationship Building
Expert
Taxation
Expert
Taxation
Expert
Profit Optimization
Expert
Profit Optimization
Expert
Portfolio Management
Expert
Portfolio Management
Expert
Payroll
Expert
Payroll
Expert
Revenue Recognition
Expert
Revenue Recognition
Expert
Team Leadership
Expert
Team Leadership
Expert
Corporate Governance
Expert
Corporate Governance
Expert
Pre-Opening
Expert
Pre-Opening
Expert
Chief Financial Officer
Expert
Chief Financial Officer
Expert
Finance Manager
Expert
Finance Manager
Expert
Pivot Tables
Expert
Pivot Tables
Expert
GAAP
Expert
GAAP
Expert
FMCG
Expert
FMCG
Expert
Finance Director
Expert
Finance Director
Expert
Financial Controller
Expert
Financial Controller
Expert
Problem Solving
Expert
Problem Solving
Expert
Retail
Expert
Retail
Expert
USALI
Expert
USALI
Expert
SOP
Expert
SOP
Expert
CIMA
Expert
CIMA
Expert
Facility Management
Expert
Facility Management
Expert
MBA
Expert
MBA
Expert
Hospitality Finance
Expert
Hospitality Finance
Expert
CPA
Expert
CPA
Expert
Hospitality
Expert
Hospitality
Expert
IFRS
Expert
IFRS
Expert
Microsoft Office
Expert
Microsoft Office
Expert
Variance Analysis
Expert
Variance Analysis
Expert
Hotel Pre-Opening
Expert
Hotel Pre-Opening
Expert
CFO
Expert
CFO
Expert
ESG
Expert
ESG
Expert
Income Statement
Expert
Income Statement
Expert
month end
Expert
month end
Expert
planning
Expert
planning
Expert
analysis
Expert
analysis
Expert
annual budgets
Expert
annual budgets
Expert
sales tax
Expert
sales tax
Expert
marketing
Expert
marketing
Expert
erp
Expert
erp
Expert
operation
Expert
operation
Expert
Director of Finance
Expert
Director of Finance
Expert
General Management & Operational Leadership
Expert
General Management & Operational Leadership
Expert
Fintech
Expert
Fintech
Expert
Microsoft Dynamics
Expert
Microsoft Dynamics
Expert
Strategic Corporate Finance
Expert
Strategic Corporate Finance
Expert
Transformative Financial Leadership
Expert
Transformative Financial Leadership
Expert
Process Optimisation & Internal Financial Control
Expert
Process Optimisation & Internal Financial Control
Expert
Senior Stakeholder Engagement
Expert
Senior Stakeholder Engagement
Expert
Organisational Budgeting & Forecasting
Expert
Organisational Budgeting & Forecasting
Expert
Cross-Functional Team Leadership (70+)
Expert
Cross-Functional Team Leadership (70+)
Expert
Corporate Strategy
Expert
Corporate Strategy
Expert
Strategic Financial Planning & Analysis
Expert
Strategic Financial Planning & Analysis
Expert
Risk Management
Expert
Risk Management
Expert
Financial Planning
Expert
Financial Planning
Expert

Languages

English
Expert
Arabic
Intermediate
Tamil
Native Speaker

Memberships

Chartered Institute of Management Accountants (CIMA)

Associate Member

July 2019

Institute of Certified Management Accountant (ICMA)

Certified Management Accountant (CMA)

February 2020

Chartered Institute for Securities & Investment

Associate Member

August 2018

Training and Certifications

Certifications
The Board Directors program
Apr 2022
Training
Business Intelligence & Data Analysis (BIDA)™
Corporate Finance Institute
Jul 2021
Commercial Real Estate Finance Specialist
Corporate Finance Institute
Aug 2021
Certified Financial Modeling & Valuation Analyst (FMVA)®
Corporate Finance Institute
Aug 2021
The Emerging CFO (Strategic Financial Leadership Program)
Stanford Graduate School of Business
Jul 2021