CFO Middle East
Thyssenkrupp Elevators - United Arab Emirates
Total years of experience :25 years, 1 Months
HIRED TO
• Manage all finance aspects of the TKE in the Middle East (UAE, KSA, BAH, QAT, JOR, EGY, KUW + Regional HQ)
• Lead local SSC, Finance dep’t, IT dep’t, Purchasing dep’t, Legal dep’t and Compliance function (120 FTEs)
KEY ACHIEVEMENTS:
• Significant reduction of the G&A Costs (EUR2m/year) by moving the back-office functions from countries to regional SSC
• Building new regional departments for Financial Analyses and Consolidation.
• Strongly improved the efficiency of the FSSC, (50% increase of the documents processed)
• Building the professional KPI assessment tools and the continuous improvement system in the SSC
• Added new functions to the existing SSC (procurement, IT, client management, collection)
• Implemented open and merit style of working as well as transparency in the supervised departments
• Dramatically reduced the time of the month close process (-7 days), increasing the quality of the prepared reports.
• Started providing services to the countries from outside the region (AUSTRALIA + NZ), now preparing for South-East Asia
• Implemented new tool for collection department controlling, - reduced overdue receivables by 20% in 12 months
INTERNATIONAL CFO/EMEA HEAD OF FINANCE
International projects for: INPOST Finance, NUTRAL Corp,
Currently International CFO for ASTEK Group based in Dubai (B2B consulting business 200mEUR sales)
HIRED TO
• Establish ad develop International Businesses for Astek (China, Poland, Canada, USA, Australia, Mauritius, Middle East)
• Create the entities from scratch and building local operational structures
• Design, develop and execute an expansion strategy, identifying new areas of service/business
• Led ongoing continuous improvement process, change management, implementation of a new ERP system
• Establish, procedures budget, forecast and reporting. Produce consolidated actual, forecast and budget process delivery, Liaise with the Global Leadership,
• Change the Finance Department in France to be able to control international business, Create the Finance Department.
• Moving the Accounting function from the external companies back in-house. Creation of the Shared Service, serving all international entities
Regional Finance Director/Business Partner/Deputy MD - TYCO Middle East, Jun 2012 - Nov 2013
TYCO (NYSE: TYC) world's largest dedicated fire protection and security manufacturing company. $10+ billion revenue, 69000 employees in 50 countries.
• Profitably controlled $150M+ in P&L in all Middle East Countries + North Africa, Turkey and Caspian Countries - (Kazakhstan, Azerbaijan); includes overseeing 30 staff. Focused on pricing/margin strategies for business expansion. Developed strong relationships with key stakeholders, explained complex financials in a simpler form, challenged assumptions made by decision makers. Acted as a sparring partner to management. team on all finance, compliance and internal controls matters.
• Coordinated all financial reporting functions for whole MENA region: accounting and bookkeeping, financial reporting, tax planning and investment analysis activities. Ensured that regional financial statements are accurate, complete and in accordance with country requirements, corporate policies and industry practices. Completed financial statements: balance sheet, P&L and Cash Flows.
• Identified risk and opportunities in the retail P&L and delivered effective operational analysis and reporting
• Lead, guide and advice unit management teams to ensure precise budget, forecast, and smooth monthly operations as well as smooth cooperation with the global SSC in India. Diagnosed the causes resulting in problems with SSC
• Effectively steered the creation of local (Middle East) TYCO HQ and consolidating of all TYCO divisions in the region in order to improve efficiency and standardized approach to a client
• Reported directly to TYCO senior executives on financial performance of assets, execution of business plans and compliance with portfolio strategic vision and direction
• Implemented of TYCO policies in the recently acquired Turkish BU and supervision over the process of smooth transition from the local Turkish company onto the TYCO BU carrying out its operations in the growing market
• Modernized the controlling environment to provide high quality data to executive management quickly whenever it is necessary and elimination of delays in preparation of monthly reports
• Organized unified reporting standard for all TYCO divisions in the Middle East (5 divisions)
Global Operations Finance Director, TYCO Fire & Security EMEA, Nov 2009 - May 2012
• Profitably controlled $350M+ in P&L in EMEA; includes overseeing of 11 countries (FR, SP, GR, DK, SW, FI, NO, PL, HU, CZ, SK) and 70 staff, Manage division dashboard and balance scoreboard to identify major financial metrics, business opportunities and risks for all finances.
• Coordinated all financial reporting functions for whole EMEA region: accounting and bookkeeping, financial reporting, tax planning and investment analysis activities. Ensured that regional financial statements are accurate, complete and in accordance with country requirements, corporate policies and industry practices. Completed financial statements: balance sheet, P&L and Cash Flows.
• Gathered all data for monthly management reports and reviewed various internal and external reports published to different groups. Assisted other departments in pro-forma modeling of business case interpretation, provide assistance to divisional management and justify capital expenditure requests
• Established and executed cost reduction and working capital improvement initiatives as well as process improvements: Reviewed and improved sales practices to ensure that only projects with reasonable margin are accepted and that sales reps don't give unreasonably long payment dates or too long warranty periods, Diagnosed and implemented improved controls in a job costing system to ensure its permanent analysis so inefficiencies at country level are eliminated
• Motivated staff and develop relationships with peers, executives and clients through effective communication skills. Monitored professional development and region staff productivity to ensure meeting of training, professional development and project needs,
• Reviewed staff performance annually. Addressed employee performance issues as per company personnel policies,
• Led the cross-functional ad-hoc overseas projects intended to simplify procedures throughout the organization and to improve rigor in key finance processes,
• Prepared and led implementation of the restructuring plans of 8 countries in the region to adapt the size of BUs to the changes in the economic environment, and immunize those BUs from the future turbulences.
Finance and Administration Director, TYCO Russia & CIS (Former Soviet Union) Mar 2008 - Nov 2009
• Profitably controlled $30M+ in P&L in Russia and Former Soviet Union (Caspian Countries - Azerbaijan, Kazakhstan, Georgia); includes overseeing of 4 BUs, 25 staff. Based in MOSCOW and BAKU.
• Coordinated all financial reporting functions for whole region: accounting and bookkeeping, financial reporting, tax planning and investment analysis activities. Ensured that regional financial statements are accurate, complete and in accordance with country requirements, corporate policies and industry practices. Completed financial statements: balance sheet, P&L and Cash Flows.
• Supervised and managed not only Finance but also HR, IT and administration departments,
• Rebuilt of the local accounting dep't and control and reporting environment in Russia and Azerbaijan from a scratch to ensure efficiency, compliance with SOX, Tyco internal policies and with the FCPA (Foreign Corrupt Practice Act)
• proactively built and anchored a control culture among RUSSIAN and CIS locations through establishing solid relationships with process executives and involving them in promoting internal controls, Code of Conduct and other corporate policies
Corporate Global Internal Audit Manager, FAURECIA PARIS Mar 2007 - Mar 2008
Faurecia is a global automotive supplier, EUR15+ billions of revenue, 95000 employees, 320 manufacturing sites, 30 R&D centers in 34 countries.
• Reporting directly to Audit Director, managed 8 persons audit staff on the global projects (China, US, and Europe)
• Initiated change of the audit approach from substantial testing onto risk-based audits (control reliance strategy)
• Implemented the increased use of the automated tools in all areas of audit methodology,
• Diagnosed the lack of standardized audit evidence (working papers) and initiated works on the creation and implementation of the new Internal Audit Evidence standards
EMEA Internal Audit Manager, ENERSYS NEWPORT Jan 2005 - Mar 2007
EnerSys (NYSE: ENS) is the largest industrial battery manufacturer in the world, operating globally - $2bn revenue, >9000 employees
• Built from scratch and led the EMEA Internal audit dep't of $2b global US manufacturing company,
• Reporting directly to the VP of Audit, worked with top senior management. Managed the financial and fraud risk assessment process. Controlled the EMEA Internal Audit dep't budget
• Steered the SOX implementation in EMEA + APAC; managed 10 dep't staff, covering the 30 countries in EMEA + ASIA PAC (10 production facilities and 30 distribution BUs) .Led transformation of SOX from project into a standardized process in 2nd and 3rd year
• Led ad-hoc global projects focused on the inefficiencies and fraud detection. Transformed the Internal Audit Dep't into the internal consultancy delivering added value in all levels of corporate,
• Developed audit programs and executed audits of various domestic and international functions, departments and projects. Motivated staff and Monitor their professional development needs to ensure proper training,
• proactively built a control culture among European locations through establishing solid relationships with process executives and involving them in promoting internal controls. Acted as a sparring partner to top management on compliance and internal controls
• proactively ensured updated knowledge of internal controls for Internal Controls team to support up to date services for the business groups and acts as the information centre for continual improvements to the program
AUDIT Senior - Deloitte Audit Services, Warsaw, PL 2002-2004
AUDIT Senior - Ernst & Young Audit Poland, Warsaw, PL 1999-2002
• Led audits of giant global groups: Coca Cola, France Telecom, Raisio Foods, ABB, Renault, HBO, Warner Bros
