Nowshad Haroon, Group Director of Finance & Strategy

Nowshad Haroon

Group Director of Finance & Strategy

Swiss International Group

Location
United Arab Emirates - Dubai
Education
Doctorate, Doctor of Philosophy in Corporate Finance (PhD)
Experience
18 years, 6 Months

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Work Experience

Total years of experience :18 years, 6 Months

Group Director of Finance & Strategy at Swiss International Group
  • United Arab Emirates - Ras Al Khaimah
  • My current job since August 2021

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

Interim General Manager at Royal Swiss Lahore (Unicorn Prestige Limited)
  • Pakistan - Lahore
  • June 2020 to 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%

Chief Financial Officer at Unicorn Prestige Limited
  • Pakistan - Lahore
  • February 2019 to 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

Group Director of Finance at Sun Africa Group
  • Kenya - Nairobi
  • July 2017 to 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%

Regional Financial Controller at Sun Africa Hotels Group
  • Kenya - Mombasa
  • November 2016 to 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

Group Financial Controller at Al Kuwari International Group
  • Qatar - Doha
  • May 2015 to 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%

Finance Manager at Saudi Arabian Trading and Construction Company
  • Saudi Arabia - Riyadh
  • April 2012 to March 2015

• Achieved all investment objectives and reduced operating expense by 21% annually utilizing a highly analytical and strategic thinking approach

Senior Financial Accountant at Renaissance Service SAOG
  • Oman - Muscat
  • October 2008 to 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.

Financial Accountant at Bin Jarallah Group
  • Saudi Arabia - Riyadh
  • May 2005 to 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.

Education

Doctorate, Doctor of Philosophy in Corporate Finance (PhD)
  • at Management And Science University
  • December 2022
Master's degree, Master of Law in International Business (Corporate Finance)
  • at Cardiff Metropolitan University
  • October 2022
Bachelor's degree, Certified Financial Modeling & Valuation Analyst
  • at Corporate Finance Institute
  • January 2022
Master's degree, Master of Business Administration in Financial Management (MBA)
  • at Cardiff Metropolitan University
  • May 2018
Master's degree, Postgraduate Diploma in Business Finance & Strategy
  • at The Institute of Chartered Accountants of Sri Lanka
  • December 2017

Specialties & Skills

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

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

Business Intelligence & Data Analysis (BIDA)™ (Training)
Training Institute:
Corporate Finance Institute
Date Attended:
July 2021
Commercial Real Estate Finance Specialist (Training)
Training Institute:
Corporate Finance Institute
Date Attended:
August 2021
Certified Financial Modeling & Valuation Analyst (FMVA)® (Training)
Training Institute:
Corporate Finance Institute
Date Attended:
August 2021
The Emerging CFO (Strategic Financial Leadership Program) (Training)
Training Institute:
Stanford Graduate School of Business
Date Attended:
July 2021
The Board Directors program (Certificate)
Date Attended:
April 2022