Finance Manager
Saudi Factories For Pipes ( Al Munif Pipes )
Total years of experience :21 years, 7 Months
• Restructure of the finance dept. and initiate the Industrial costing dept.
• Supervising the issuance of the monthly, quarterly & yearly financial statements.
• Set up the monthly comparison between standard cost reports and actual to measure the efficiency on the production lines & calculate left overs cost.
• Maintaining excellent relationships with different tax authorities & banks.
• Handling and finalizing all the deals with vendors and established a long-term relationship.
• Provide financial reports and interpret financial information to managerial staff while recommending further courses of action.
• Close monitoring over the cash flow situation to guarantee smooth on time payments.
• Advise on investment activities and provide strategies that the company should take.
• Maintain the financial health of the organization.
• Analyze costs, pricing, variable contributions, sales results and the company’s actual performance compared to the business plans.
• Conduct reviews and evaluations for cost-reduction opportunities.
• Oversee operations of the finance department, set goals and objectives, and design a framework for these to be met.
• Manage the preparation of the company’s budget.
• Lease with auditors to ensure appropriate monitoring of company finances is maintained.
Correspond with various other departments, discussing company plans and agreeing on future paths to be taken.
• Apply restricted internal control & collection policies.
Accomplishments:
•Restructure of the finance Dept.
•Apply restricted internal control policies.
•Transfer the process and generation of finance & performance reports from manual to automatic computerized environment.
•Lead the implementation of a full integrated computerized system across the all business activates.
•Play an integral role in the developing of other operational dept.
•Enhancing the IT activates up to converting to online sales and resourcing.
• Close monitoring on the production cost and report any divisions.
•Applying an active collection policies.
•Monthly issuance of the financial and statuary costing reports.
•Maintain a solid business relationship with Banks, vendors and taxation authorities.
•Forecast cash flow positions, related borrowing needs, and available funds for investment.
•Participate in target costing activities to create products that meeting predetermined price goals.
•Manage the capital budgeting process, based on constraint analysis and discounted cash flow analysis.
•Create additional analyses and reports as requested by management.
•Report to management on variances from the established budget, and the reasons for those variances
•Assist management in the formulation of its overall strategic direction
Accomplishments: • Granting the Membership of the ISO 9001 application committee. • Updating the authority matrix and documents cycle through maximizing the benefits of the ERP solutions. • Leading and developing the activities of automatic integration through the system across the company’s departments. • Setting & authorizing the Finance Dept. Policy and Procedures, and ensuring the implementation of adequate controls. • Preparing & updating the 5 year business plan to align with strategic plans of the group. Main Duties: • Authorizing the monthly closing activities and issuing the monthly / yearly financial & performance reports. • Close monitor on every property regarding expenses control, profitability & Receivables collection. • Participate on negotiation of new investments & development opportunities. • Leading the analysis of every existing balance and authorizing the rectifying entries on the spot. • Setting the KPIs for the finance dept. and monitoring the accomplishment level. • Leading the renewal of existing facilities lines with banks and negotiate new facilities lines with existing & new banks. • Monitoring the monthly Receivables aging reports and lead the follow up with the concerned operation side. • Close monitoring of the company cash flow ( actual & forecasted ) • Applying the internal Audit prospective within the Finance dept. • Leading the annual auditing of Financial Statements with the external auditor. • Leading the Budget preparation activities and authorizing\ the compiled budget before submitting to the Holding company. • Controlling all Payments transactions. • Working closely with operation side regarding all business related matters towards achieving our cooperate goals.
Accomplishments:
• Team member for tailoring a customized ERP solution for installment and lease sales activity October 2008 - May 2010.
• Trainer in Balubaid Training institute, conducting the following trainings :
1- Professional Accounting and financial skills - Jan 2009 - Jeddah.
2- Trade Finance skills - May 2009 - Jeddah.
3- Oracle ERP - AR finance module training - September 2009 - Jeddah.
4- The 8 Habits Training Course - Feb 2010.
5- Negotiation Skills - June 2010.
• Member of the Finance Recruiting Committee, in which I prepared the main accounting exam for Accountant, senior accountant position and conducting the interviews.
• Saudi Monterey new laws compliance Project Manager, in which new financial and operation changes were designed and implemented.
• Group Credit Committee member since 2007 - 2014 ( credit limit 25 M SR )
• Group Credit Committee Vice president 2009 - 2011.
• Group Finance Committee member 2010.
• Yearly Budget Committee member (Group Wise) 2007 - 2013.
• Finance modules Super user for the ERP Oracle implementation process since June 2008 - May 2010.
• Membership of the ISO 9001 application committee.
• Rebuilding all the company’s policies and procedures.
• Conduct & finalize 34 securitization deals ( total amount of 1.9 Billion SR )
• Designing, implementing and maintaining financial process, procedures and internal control tools with compliance to the country laws & Accounting standards.
Main Duties:
• Validating the month closing activities and ensuring a smooth closing as per schedule.
• Leading the preparation process of the projected IS BS and Cash flow for 3 & 5 years strategies.
• Validating and authorizing the monthly Financial Statements and analytical Securitization deals & current facilities with Banks.
• Leading the yearly negotiation with Banks upon renewal of facilities.
• Validating the Variance analysis reports, including actual vs. budget, actual vs. last year actual vs. last month and actual vs. forecasted.
• Auditing & Authorizing reviews, with working paper file review.
• Annual Budgets, including Sales, Expenses, Material budget, IS, BS and Cash flow.
• Rolling forecasting, monthly and Quarterly.
• Preparing forecast Cash Flow on monthly basis, comparing actual vs. forecast, developing action plans for differences.
• Leasing with External and Internal Auditors to complete their requirements with mapping file between system Financial Statement and Audited Financial Statement.
• Implementing process improvement initiatives to enhance existing processes and accommodate business changes.
• Recommending benchmarks for measuring the financial and operating performance of divisions and departments
• Reviewing and approving day to day transactions, related to: Payments transactions, e.g. Checks, treasury vouchers, petty cash re-impressments, transfers, etc.
Other Activities within the position:
My role as a super user in Oracle Implementation project:
• Defining, analyzing, assist and documenting the as is process and procedures.
• Communicating the as is process and procedures to the implementing contractor through several meetings and workshops.
• Exploring the Oracle applications and understanding the basic functionalities.
• Suggesting new screens or concurrent programs to apply the basic business scenarios or designing a new process cycles to comply with Oracle logic and functionalities.
• Assigning the security rules within the oracle systems to suit the internal control procedures.
• Performing the UAT phase. ( User Acceptance test )
• Designing the basic needed business reports.
• Delivering the basic setups like approval hierarchy, limits, .etc.
• Leading the final test of the solutions.
• Documenting the end user manual.
• Training the end users.
• Performing the post go live support and maintenance.
Reviewing and posting all the accounting entries to the GL.
Supervise the accounting functions over the 6 branches & HQ
Authorizing the issuance of Cheques.
Review and reconcile vendors' accounts.
Leads the monthly closing of the books.
Internal group accounts reconciliations.
Preparing the year-end financial statements.
Coordinates with the external auditors.
Issuing operation evaluation reports ( weekly inventory report, Collection status report)
Preparing the daily banking facilities report.
Handling the securitization of receivables deals with banks.
Prepare all Financial Analysis Reports.
Follow up and maintain a moderate cash policy in which insures the best utilization of cash to face banking and vendors financial commitments.
Main vendors' reconciliations and follow up with inventory Dept.
Inter companies' reconciliations.
Central banking reconciliations and follow up with the concerned depts. for the pending items.
Responsible of establishing the POS systems and reviewing the transaction recording process.
Preparing various corporate reports ( Assets turn over report, corporate banking facilities position report, …etc.)
•Authorizing issued cheaques.
•Mentoring the credit and debit Bank accounts.
•Recording the payables cheaques into the integrated accounting system.
•Preparing the monthly ahead financial commitments report.
•Auditing the daily cash report and authorizing the daily deposits.
•Providing the foreign currencies from the local market.
•Handling the received cheaques by directing them to the suitable Banks accounts (Collection or Guarantee).
•Maintaining a good relationship with the Banks employees.
•Preparing the daily Banks position report.
•Mentoring the client's cheaques counter collection.
•A member of the committee of choosing a long term retailing car loans bank as a strategic partner.
•A member of the committee of choosing a new Accounting software under Oracle database.
•Asset in the decision making of Forward & Spot FX deals with banks through issuing a daily FX report stating the fundamental conditions of the international FX market a long with a primary Technical Analysis of the Euro/Dollar Chart.
•Asset in the Preparing of the Financial Statements.
•Auditing the daily cash report for one of the car service centers. •Monitoring the spare parts warehouse for the same center through the specified computerizing system. •Dealing with vendors concerning there accounts. •Responsible of the international spare parts accounts with the international brand companies including settlements, correspondences and attendance of meetings held in Egypt. •Member of the negotiation team of taking over other companies (two companies). •Responsible of the clients accounts reconciliation. •Responsible of the all the financial & accounting aspects of the service center as a separate costing center. •Performing the year-end inventory physical count. •Responsible of the big Clients' credit accounts of the whole company concerning auditing, tracing collections and financial negotiations regarding long term service contracts. •Preparing the Sales Tax monthly report. •Sharing in the preparing of the yearly financial statements concerning the service center accounts and the consolidated payables and receivables for the whole Company.
•Negotiations with 5 stars hotels and touristic companies concerning long and short term agreements ( from the financial point of view ).
•Auditing the consolidated daily cash report for the 3 offices.
•Full cash management to face the short and long term liabilities.
•Dealing with vendors and important clients.
•Dealing with the Governmental authorities.
•Auditing the monthly payroll sheet.
•Authorizing & auditing permanent and temporary loans against invoices.
•Measuring the efficiency of the activity through on going mental judging the out-coming figures of income and expenses and suggesting the corrective actions.
•Increasing the No. of clients through preparing offers which still financially profitable.
•Providing the foreign currencies.
The same as mentioned before in the same positon.
•Auditing the Bank Statements.
•Issuing Cheaques.
•Preparing the daily Bank and funds position.
•Up dating the collected cheaques report.
•Prepare the monthly Bank Accounts Reconciliation.
•Up dating the accounting system with the related bank transactions.
•Issuing Certified Cheaques, Initiate International Transfers with the related Banks.
1 year diploma
B. Sc in Accounting from the major universty in Egypt
3 year diploma
1 year course - 3 levels
3 levels