Ramzi Ali,  CFA, Section Manager, Financial Policies and Procedures

Ramzi Ali, CFA

Section Manager, Financial Policies and Procedures

Saudi Telecom Company STC

Location
Saudi Arabia - Riyadh
Education
Diploma, Chartered Financial Analyst
Experience
27 years, 11 Months

Share My Profile

Block User


Work Experience

Total years of experience :27 years, 11 Months

Section Manager, Financial Policies and Procedures at Saudi Telecom Company STC
  • Saudi Arabia - Riyadh
  • My current job since February 2015

• Moved from AR department to Policies and Procedures department to be part of technical team handling convergence project of accounting standards from SOCPA to IFRS.
• Assigned project management of preparing operations and financial processes for future application of IFRS 9 and IFRS 15.
In addition of handling IFRS convergence project, as Policies and Procedures Section Manager:
• Manages the development and implementation of the Financial Policies & Procedures plans in line with the corporate objectives.
• Created policies and procedures for structured investments, short-term investments for excess cash, credit and collection, Bad Debt, Capitalization, Non-equity partnerships, and Merger and Acquisitions.
• Prepared models for provision for bad debts using roll rate, fixed assets impairment test, and loyalty program liability and fair value calculations.
• Prepared accounting treatments applying implemented standards of SOCPA and IFRS (e.g. Investments using equity method, loyalty program, government grants, IRU revenue recognition, and sales for devises)
• Interprets and guide the change in the Chart of Accounts Section providing guidance and support, necessary for continuous improvement.
• Manages the identification of new financial activities and responsibilities to develop the need for new financial policies and procedures.
• Manages the revision and update on financial policies and procedures to meet changing business needs and professional standards.
• Communicates financial policies and procedures implemented across STC.
• Defines goals and key performance indicators for each member of the team and ensures effective application of the STC performance management process.

Part time Instructor for CFA Levels I and II at Money Experts Institute
  • Saudi Arabia - Riyadh
  • My current job since January 2013

• Providing training courses for CFA level 1 to prepare the candidates in the preparation for the exam. Subjects covered are FRA, Corporate Finance, Equity Investments, Fixed Income Investments, Alternative Investments, and Derivatives.
• Conducting training programs for public and in-house trainings for institutes.
• Provided CFA level I courses for Capital Market Authority (CMA) and big Investment Company employees covering the subjects of FRA, Corporate Finance, Equity Investment, Fixed Income, Alternative Investments, and Portfolio Management.

Section Manager, AR Closing, Reconciliation and Reporting at Saudi Telecom Company STC
  • Saudi Arabia - Riyadh
  • January 2014 to February 2015

• Participates in the development and implementation of the AR plans in line with the corporate objectives.
• Directs and manages the Section mandates, providing leadership and facilitating work processes in order to achieve high performance standards.
• Interprets and implements change in the Section providing guidance and support, necessary for continuous improvement.
• Ensures compliance with organizational policies, procedures and quality standards in the Section.
• Verify the control of correctness and completeness of recording and verification of AR documentation to ensure accuracy of various accounting positions.
• Manages the process of reconciliation between STC Collection Channels, Oracle and Billing Systems in order to ensure that payments are processed smoothly and on time.
• Performs variance analysis to detect deviations and unusual operations in the accounts receivables processes.
• Liaises with external and internal auditors as well as the Public Audit Bureau to ensure statutory compliance of the AR processes with existing standards.
• Defines goals and key performance indicators for each member of the team and ensures effective application of the STC performance management process.
• Ensures high level of employee engagement and capability development by providing on-going feedback and coaching team members within the Closing, Reconciliation & Reporting Section.

Financial Advisor at Saudi Tel;ecom Company STC
  • Saudi Arabia - Riyadh
  • January 2010 to December 2013

• Analysis of STC-KSA trial balance and accounts and those received from subsidiaries.
• Analysis of sector's direct expenses reports.
• Prepare comparative financial reports and analyze the variations; monthly, quarterly and annually.
• Support and review feasibility studies.
• Handle the accounting treatment of loans provided to subsidiaries.
• Interpret accounting standards in affiliates' countries.
• Respond to the inquiries from other departments and management.
• Applying financial modeling and VBA in analysis and preparing reports.

Accounting Manager at AZADEA GROUP
  • United Arab Emirates
  • July 2007 to December 2010

• Ensure timely and accurate financial reporting; for 40+ companies in UAE; according to the Group’s PPM and IAS.
• Negotiating with financial institutions to bring and maintain financial facilities for the organization.
• Cooperate with other departments to enhance the control over financial related transactions.
• Ensure the compliance of accounting department with Franchise agreements signed with Franchisors for financial related matters.
• Prepare financial feasibilities and Capex needs for new shops to be opened.
• Enhancing the effectiveness and productivity of the accounting team members.
• Improved the operations' cycle in cooperation with OPS manager especially financial related transactions.
• Conduct risk management for foreign currencies exchanges through hedging activities using forward and option contracts.
• Provide "Finance" trainings for shop and brand managers.
• Managing and supervising 26 accounting team members.

Chief Accountant at ARAMEX International Courier
  • Bahrain
  • July 2005 to July 2007

• Managing both the accounting department and credit department (7 persons).
• Preparing monthly reports (income statement and its supporting schedules and analytical reports) plus quarterly reports (balance sheet and its schedules).
• Preparing yearly budgeted Income Statement and Cash flow.
• Direct reporting to the head office in Jordan for financial issues.
• Local reporting to the Country Manager.
• Average daily transactions of 300 and yearly turnover of $ 8.7M for BAH station.

Senior Credit Controller at ARAMEX International Courier
  • Bahrain
  • April 2003 to June 2005

• Responsible of granting the credit facility to the new customers and in charge of collecting the due amounts from them.
• Making reconciliations of accounts with the customers regarding disputed amounts.
• Monitoring the credit limits and credit terms of clients.
• Preparing daily, weekly and monthly reports and analysis to the Country Manager and to Head Office in Jordan.
• ACP reduced from 58 days in 2002 to 51 days in 2004.
• Receivables above 365 days reduced to zero by end of 2004.

Senior Audit Supervisor at Al Mezan Bureau
  • Bahrain - Manama
  • May 2002 to March 2003

* Provide annual audit of the accounts for clients in accordance to international standards & compliance with statutory laws.
* Providing management consultancy services (e.g. feasibility studies, incorporation of companies & registration of quality marks).
* Acting as Custodian or liquidator appointed by court and accounting expert in litigation.

Chief Accountant (Position of Finance Manager) at Bahrain Light Industries Co. B.S.C.
  • Bahrain
  • February 2001 to April 2002

* Responsible for the accounting section contains 4 accountants and a purchasing employee.
* Direct reporting about the company’s financial position, receivables, payables and cash flow to the General Manager.
* Improve the cost accounting procedures for company’s behalf with cooperation with all other departments.
* Prepared a Financial System that describes the work cycle for all departments.
* Review the accounting entries and transactions made by accountants.
* Prepare annual budget and projected cash flow for the company.
* Contact with bankers for financing.
* Participate and cooperate with KPMG (External Auditors) in preparation of the company’s Financial Statements for the year ended 2000.
* Started from the beginning of July 2001, preparing all company’s records & operations for a liquidation process cause the company sold to another party & during this time I worked in addition to the accounts work as Administration Manager & supervisor for all departments to hand over the company to the buyer & all reports submitted to the Board of Directors.
* I am carrying on with the company until the liquidation process is completed & I am the only person who is working, to settle down all pending issues on behalf of the company (e.g. suppliers’ settlement, workers settlements, any pending issues for customers, Etc.)

Chief Accountant at A. Rajab & A. Silsilah Co. (Proj. Div.)
  • Saudi Arabia
  • August 2000 to February 2001

* Responsible for the project department at the company.
* Reviewing all the entries and accounting issues concerning the expenses and revenues for projects.
* Prepare monthly and quarterly statements and making analysis concerning the revenues and expenses for the Financial Manager.
* Coordinating with other departments in preparing the quarterly financial statements for the company.
* Participated shortly in preparing end of year Financial Statement for the year 2000.
* Implementing new accounting software (Great Plain Dynamics / by ORACLE).

Senior Accountant at Jordan Securities Commission
  • Jordan
  • May 1996 to August 2000

* Responsible for the expenditures section in the financial and administrative department.
* Controlling the A/R accounts for the institution.
* Prepare most of the accounting entries concerning the transactions of the institution.
* Prepare the payroll for employees.
* Make financial analysis for JSC’s accounts.
* Prepare the annual budget and financial statements and the monthly reports.
* Prepare the Saving Fund accounts for employees

Education

Diploma, Chartered Financial Analyst
  • at CFA Institute
  • June 2012
Bachelor's degree, Finance & Banking Sciences & Accounting
  • at Yarmouk University
  • January 1996

* Study of 132 hours containing different courses in the fields of Finance, Economics, Banking & Accounting. * Grade 86.4%, Excellent, Top of my colleagues.

Specialties & Skills

Managerial Finance
Microsoft Office
Computer Skills (Office)
Financial Statements Analysis
Analytical Skills
IFRS Standards
Financial and Strategic Planning
Financial Modelling

Languages

Arabic
Expert
English
Expert

Memberships

CFA Institute
  • Member
  • September 2009
CFA Arabia
  • Member
  • June 2011
IABFM
  • 44760
  • November 2013

Training and Certifications

Certified Financial Modeler Masterclass (CFM) (Certificate)
Date Attended:
November 2013
Valid Until:
December 2014
Chartered Financial Analyst (CFA) (Certificate)
Date Attended:
December 2008
Valid Until:
August 2012