Project Financial Consultant
KPMG
Total years of experience :16 years, 6 Months
Managing a team of five finance professionals and in-charge of providing financial advisory services to one of the biggest food manufacturing companies in the KSA with an asset base of SAR 1billion, and an annual turnover of SAR 500million. The company operates through four branches spread across the kingdom and the engagement covers all branches and the head office.
The company is being Privatized and a consortium of consultants and lawyers are engaged to provide a wide range of services that covers the entire process of privatization, this includes conversion from cash to accrual basis and adherence to IFRS standards, due diligence procedures, and an array of services.
Major responsibilities are as follows :
· Monitoring and providing support to the financial function of the company.
· Adhering to accounting policies and procedures as well as IFRS standards.
· Advising on complex accounting treatments.
· Examining the accuracy of accounting records and opening balances.
· Closely monitoring and checking for the accuracy and completeness of the monthly financial statement closing process.
· Crosschecking accuracy of all accounting records and the related systems and ledgers i.e. fixed assets, sales, and inventories.
· Cross checking sales and (VAT) account balances accuracy.
· Examining inventory records and checking the accuracy of recorded figures in terms of issuances, costing, provisions, and period end stocktaking and valuation.
· Examining and Reconciling related party balances.
· Preparation of the financial statements of the company on a quarterly basis in accordance to IFRS.
· Providing financial performance and business analysis on each profit center and to the company as a whole.
· Detailed investigations of the factors effecting fluctuation in sales and market performance in relation to competitors, as well as reasons for price variations sales mix and volume changes.
· Detailed analyses of costs fluctuations in relation to normal levels and compared to activity levels.
· Proactively conveying variances and occurring issues to the management of the company for corrective action.
· Acting as a point of contact with external parties such as external auditors and financial consultants.
· Providing additional reports on an ad-hoc basis as needed.
· Transferring knowledge to the existing finance team.
•Provided finance advisory service to organizations, including business valuations, feasibility studies, management consulting, and other engagements
•Led the advisory practice at senior level, including managing roles for maintaining quality standards and conducting engagements according to office global practice
Fulfilled my MBA degree requirements with merit
•Worked on a wide range of private equity deals in several business sectors such as trading, real estate, aviation, financial services and brokerage, logistics, and others. This involved transactions with in-depth due diligence covering all areas including financial forecasts, valuation, business plans, investment structure, and calculations of returns to investors (IRR, NPV, Payback)
•Managed daily funding and portfolio reporting requirements for internal and external purposes, along with managing a venture capital portfolio (The National Investment Fund Portfolio) targeting SME services and manufacturing as main target sectors.
•Co-managed an educational sector focused fund (Kuwait Education Fund) with value of KD 50 million.
•Managed and restructured the information database for a multi-sector fund (Kuwait Private Equity Opportunities Fund) with a total committed capital of KD 13.5 million and an investment portfolio of 35+ companies.
•Took part in the establishment of a USD 200 million multi-sector, multi-region, Sharia based fund.
•Structured hybrid investment arrangements, including mezzanine financing, pure equity financing, convertible debt and equity arrangements.
•Prepared quarterly and monthly performance reports to regulatory bodies, as well as supervised the business plan preparation process for potential investments including startups and expansions.
•Performed internal preliminary due diligence on potential investments. Reviewing and preparing financial projections and models, as well as following up on the legal due diligence process for all potential investments.
•Monitored investments performance through regular meetings with our senior management and micro monitoring of financial issues.
•Screened and assessed investment opportunities in sectors including industrial, telecom, healthcare, education, financial services, and real estate sectors
•Developed real estate projects mainly in Saudi Arabia, with typical structures of Islamic Sukook.
•Handled two major projects; Zamzam Tower and Bakka Tower, assessing the placement memorandum, underlying assumptions, forecasts of business activity, valuation and returns to investors.
•Managed part of the placement process for a real estate development project Bakka Tower in KSA for a total value of KD 80 million.
•Heavily involved in the placement process for a real estate development project; Mehrab Tower KSA.
•Prepared financial models and feasibility studies for potential projects as part of the business development process and monitored the performance of investments on hand, including presentations to investors for new PE products as part of product placement.
•Managed audit engagements, supervised junior staff, planned audit engagements, performed fieldwork and drafted financial statements in accordance with latest IFRS.
•Worked within the external audit team and handled a number of audit engagements in many sectors covering financial services, aviation, industrial, trading and others.
•Handled activities related to the engagement in several companies in Kuwait such as Kharafi Group of Companies, Hassan Abul Company.
•Managed audit engagements, supervised junior staff, planned audit engagements, performed fieldwork and drafted financial statements in accordance with latest IFRS.
•Worked within the external audit team and handled a number of audit engagements in many sectors covering financial services, aviation, industrial, trading and others.
•Worked with high profile and key clients in Jordan including Royal Jordanian Airlines, Housing Bank, Export and Finance Bank, Movenpick Hotel, and Alpha-Beta Food Factory.
Internship in a medical center, training with audit firm PWC, freelance minor accounting jobs
MBA-Finance
Certified Private Equity Specialist
Certified Public Accountant (CPA)