Founder & Consultancy Manager
Rafat Mohammed Garoub Management Consultancy Firm
Total des années d'expérience :29 years, 8 Mois
- Business Consulting and Advisory
Applying Risk-Based methodology, with a history of the business audit with one of the BIG-4 (ANDERSEN since 1996), and strong potency of financial management and managerial accounting.
A blend of talent and exposure enabling to provide diverse professional services:
1) Business Governance, Risk Management & Compliance
2) Management Accounting, Financial Management
3) Business Audit Risk-based (Internal Audit, Operational Audit, Financial Audit)
4) Forensic Audit
5) Business Corporatization Transformation Plan
1) Providing CFO services
- Assigned as VP Finance, reporting to the President
Ministry of Sports, Saudi Sports Club Corporatization 2030 Vision Plan
- Conducted in preparation of club strategy plan in compliance with MoS governance guidelines.
- Maintained the continuity of availing MoS financial support (5M per quarter) continuously for (6) quarters by raising the accumulative level of governance quality to meet (B) score.
2) Providing Business Audit services
- Assigned as Internal Auditor, and reporting to the Initiative President
Ministry of Housing, Building Technologies Initiative (BTI)
- Prepared BTI Financial Statements, working capital worth SAR 3 Billion.
- Prepared Corporate Governance, accounting, and procurement aspects.
3) Providing CFO services
- Assigned as VP Finance, reporting to the CEO and to the Corporatization Director (Changi Airports Int'l.)
Ministry of Transportation, GACA, Dammam Airports Company (DACO)
- Prepared finance department Strategy, Work Plan & KPI's for one year (July 2017-2018).
- Prepared FS as of 31/07/2017 IFRs-based.
- Analysis of the Aeronautical (LPTS) and Non-Aeronautical (space) Concession.
- Prepared Online banking Delegation of Authority and implementation of B2B platform.
- proposed amendment of Finance, Planning, and Budgeting Blueprint Manual (Policies and Processes).
4) Providing Business Audit services
- Assigned as Internal Auditor, and reporting to the CEO
Ministry of HR, NPO registered in Al-Madinah Province
- Toured all 81 registered organizations, and provided on-job training for 350+ staff members
- Prepared 243 Internal Audit reports and 81 Financial Statements.
- Developed risk mitigation covering 50+ common risks (risk factor, the root cause, and mitigation plan)
- Created NPO KPIs
5) Providing Business Audit services
- Assigned as Internal Auditor, and reporting to the CEO.
Um Al-Qura University, Faculty of Social & Continence Education
- Established Internal Audit Departments (full governance manual)
- Executed over 300+ transactions, 48 Internal Audit reports
- Drafted year-end FS
- Reporting to the Partner
1) Prepared 500+ Audited Financial Statements - Risk Based (Entity & Consolidation), 100+ Fraud Reports, 10+ Liquidation Reports, 10+ SWOT Reports, and 10+ Due Diligence
2) Tailored client business needs to cover various professional tasks such as:
-IPO, 2nd PO & PPM Prospects
- Business Transformation Plan
- Due Diligence, Business Analysis, Business Valuation & SWOT Analysis
- Cost Reduction Assessment
- Business Governance (Public & Corporate)
- Fraud Assessments
- ERP Solution Implementation
- IFRS, IPSAS & VAT Implementation
- Reporting to the Chairman
1) Prepared Private Placement Memorandum for fundraising of $15M, as well as road-show presentation for potential Investors.
2) Managing Day-to-Day Operational Transactions (Accounting, Finance, Administration, Sales, Marketing, procurement, and Cash Flow).
3) Developed revenue streams, Customer Loyalty Program, and CRM application.
4) Established and maintained a good relationship with the stakeholders such TVTC, trainers, and vendors.
- Public Company (under foundation), 3rd Land Line Operator
- Reporting the CFO
1) Managing Day-to-Day operational transactions of Accounting, Finance, Procurement & HR
2) Fulfilling assigned tasks by the international consultancy firms. (Verizon, OWayman & Nielson)
3) Member of both Supplier & Bid and Investment & IPO Committee
4) involved in analyzing the financial proposal of the project Capex worth US $1.5 Billion
5) Member of Investment Committee involved in negotiating with financial institutes for project financing for short term and long term options.
6) Member of IPO Committee involved in preparation of the IPO prospects.
- Reporting to the CEO
1) Successfully design, develop, implement, and operating SCMA practicing license of Assets Management & Custodian worth $ 13.5 M.
2) Successfully conducting in developing Murabah Investment Fund in Saudi Riyals & US Dollars (Islamic Instrument Base) and obtaining SCMA approval.
3) Successfully implementing Oracle Assets Management ERP (compiled with SCMA requirement) applications of Investment Fund Management (with complex parameters), Custodian Management, Accounting, HR, CRM, & Crystal Report.
- Reporting the CEO
Involved in preparation of business strategy and governance with ERP solution implementation as well as preparation of Private Placement Memorandum, for the following mega projects:
1) Family business Sector - Business Transformation Plan, Retail / Wholesale.
2) Manufacturing Households Sector - Business Processes Re-Engineering.
3) Training and Education Sector - Investment Fund-Raising
Projects Summary
1) Business Transformation Plan, Retail / Wholesale, Family business, Jeddah
i. Shifting the management from the founder generation to the 2nd generation of a family business company that is operating for 50+ years.
ii. Conducting diagnostic business analysis to assess the As-Is.
iii. Design and develop business processes, plus implement and finally monitor the implementation with proper on-the-job training.
iv. Comprehensive deliverables such as organization structure, job description, authorization matrix, and corporate governance.
v. Conducting hiring for the key positions.
vi. Building RFP of ERP SQL-based solutions, plus implementation.
vii. Warehouse full turn-key renovations project for best space utilization and stock management.
2) Business Processes Re-Engineering, Furniture Factory, Jeddah
i. Conducting a diagnostic business analysis of the finance department, and preparing As-Is report.
ii. Comprehensive deliverables of finance department governance, authority matrix, and developing KPIs and business analytical report.
3) Investment Fund-Raising, Training & Consultancy Company, Jeddah
i. Preparing PPM for $ 3 M fundraising, plus conducting an investment roadshow.
ii. Providing CFO services.
- SAMAWAT Consortium, 2nd Cell phone Operator Bid
Assigned as Finance & Administration Manager
A- The Consortium
Reporting to the Consortium Project Manager
1) Prepared Consortium’s Capital Structure of $ 40 M.
2) Prepared policy and procedure of procurement and vendor selection criteria.
3) Prepared bank reconciliation statement, contribution, and expenditure statement of account.
B- Business Setup & Development
Reporting to the CEO
1) Conducting in preparation the conceptual design for the setting up of a retail company with a number of 700 outlets (10% owned and 90% franchise), as a distribution channel for the 2nd Cell Operator.
2) The conceptual design covers the arena of financial, administrative, sales, legal, technical, headhunting and training, and outlet identity in terms of theme, design, and size.
3) Defining the corporate identity, copyrights (statement, mission & vision), and business strategies.
4) Conducting in preparation of the franchise manual.
5) Conducting in designing the operations assumptions scenarios.
6) Preparing a three-year Budget zero-based.
7) Drafting financial statement.
8) Conducting in preparing the PPM fundraising, and investment road show.
9) Conducting in preparing an RFP for ERP SQL-based solution that covers Accounting, HR, CRM, POS applications, and Crystal Report.
C- Acquiring Project
Reporting to the CEO & Consortium Project Manager
1) Preparing acquisition analysis for acquiring a retail corporation with 27 outlets
2) Running physical count of the 27 outlets for comprehensive evaluation from legal, administrative, hr, assets and market value aspects.
3) Preparing due diligence.
4) Drafting FS for the last 3 years.
A- Accounts Receivable Division Head
Reporting to the CFO
1) Managing Day-to-Day operational transactions.
2) Drafting of the Financial Statement 2001 & 2002.
3) Managing over negotiate table for claiming a prior year un-build invoices worth ($20 M) by 50%.
4) Reducing medical claim preparation to an acceptable level of 10 days.
5) Reducing medical claim rejections to the tolerable error of 5% of total billing.
B- Cash Flow Enhancement Project Manager
Reporting to the CEO.
1) Conducting a diagnostic review of business processes and ERP solutions.
2) Preparing GAP analysis for the A/R, Eligibility, Admission, Discharge, Out-Patient, In-Patient divisions, and Cash Points.
3) Gathering Customer requirements (Medical - Administration - Financial - Accounting).
4) Preparing the cash in-flow barriers report with recommendation for improvements and implementation plan.
5) Obtaining CEO approval and assigned as project manager.
6) Designing, developing, implementing, and monitoring A/R business processes.
7) ERP SQL-based solution upgrading from DOZ to WINDOWS application.
8) Cash In-Flow Enhancement Plan Results:
i- Cash In-Flow before implementation worth $0.5M.
ii- Cash In-Flow in the first month of the implementation worth $1.5 M.
iii- Cash In-Flow in the second month worth $4.5 M.
iv- Perpetual earnings worth $6 M.
- Audit Experience Senior (Promoted Audit Senior on September 29, 1998)
- Accounting Services Sector, International Audit, Accounting Firm " Big-4 "
- Reporting to the Audit Manager
1) Preparing over 300 Audited Financial Statements on the Entity & Consolidation level.
2) Executing the audit work by applying Andersen's technical standards and methodologies for both external audit adequacy assurance arms (Accuracy, Valuation, Completeness, Existence and Ownership), and internal controls assurance arms (Authorization, Custody and Recording).
3) Adopting Audit - Risk Based approach which focuses on defining the root cause of the risk and mitigating the risk rather than correcting and adjusting the error caused by the risk.
- FMCG Sector, International Unit
- Reporting to GL Division Head
1) Recording, reclassification, and posting daily transactions of Sky Sales, Medical Services, Catering Unit, and Head Quarter Divisions.
2) Preparing the aging payable report on a weekly basis and obtaining CFO approval for payment processing with an average monthly payment of US $ 12 M for local and international vendors.
3) Enhancement of payment process to avoid fraud, and upgrading the filling system..
4) Establishing and maintaining a good relationship with the banks and related local and international vendors.
2008 candidate
Certified Private Equity Specialist, the preparation course will sophisticate my knowledge and skills to understand and mange an in-depth private equity techniques required to conduct an effective and profitable private equity deal from inception to exit. Additionally, handling a "successful IPO" as one of the private equity exit strategy.
The CCC preparation course provides me with the knowledge and skills required to manage and understand the framework of the total quality management in terms of: productivity analysis, ABC reporting concept, planning & scheduling, and project management.
the CIPA preparation course provides me with the knowledge and skills required to manage and understand the Islamic financial management and consultancy in terms of Shari'a standards and the accounting, auditing and governance. Also, the statement of financial accounting and financial reporting standards for the Islamic financial institutions.
GPA 3.37 of 5