Salman Siddiqui

Spearheading the finance team in Saudi Arabia with full responsibility for management reporting, statutory compliance, budgeting, and forecasting. Lead the implementation of Oracle R12 and IFRS 15/16 modules, improving compliance, audit readiness, and reducing reporting cycle times by 30%.

Key Achievements:
▪ Developed financial models for CAPEX/OPEX investments, optimizing allocation and ROI.
▪ Delivered SAR 8m reduction in OPEX through deep-dive variance analysis and corrective action plans.
▪ Supported strategic business expansion by providing scenario planning and risk analysis.

Key Responsibilities:
▪ Financial Reporting: Leading the preparation of financial reports for management, highlighting key performance indicators and variances, and providing insights for strategic decision-making.
▪ Forecasting & Budgeting: Developing financial models and preparing budgets and rolling forecasts to assist management in evaluating CAPEX and OPEX expenditures, aligning with expansion strategies and margin enhancement goals.
▪ Budget Monitoring: Monitoring adherence to budgets, reporting on variances, and recommending corrective actions in coordination with stakeholders.
▪ Project Cost Tracking: Tracking project performance from a cost perspective, identifying cost overruns, and addressing concerns proactively.
▪ Expenditure Reporting: Collaborating with departments to ensure accurate and unbiased reporting of expenditures.
▪ Performance Analysis: Conducting detailed business performance analyses for individual business units, highlighting financial and budgetary issues, and reporting on financial performance for senior leadership.
▪ Audit Coordination: Coordinating with internal and external auditors to ensure compliance and effective audit processes.
▪ Variance Investigation: Investigating significant variances to support effective performance and cost control.
▪ Team Management: Managing relationships with shared services and internal teams to ensure consistency across the company.
▪ Process Implementation: Implementing departmental policies, processes, and systems in line with company and international standards.
▪ Best Practices: Identifying and applying best practices to internal processes to drive greater efficiency.

Successfully established the FP&A framework and played a key role in implementing ERP system during a temporary assignment.

Key Achievements:
▪ Introduced standardized reporting packages, embedding process automation, and reducing management review cycles by 40%.

Key Responsibilities:
▪ Management Reporting: Prepared and delivered detailed reports and analysis packages for monthly management reviews, tailored to executive management requirements.
▪ Data Management: Oversaw the setup of data collection and compilation processes across multiple departments to ensure accurate and reliable information.
▪ Cost Control Guidelines: Provided guidelines for standard cost-control approaches to support strategic business decisions.

Managed a team of accountants and responsible for financial reporting, budgeting, forecasting, and performance analysis. Acted as a key business partner to factory leadership, providing insights into operational efficiency and profitability.

Key Achievements:
▪ Improved cash flow forecasting accuracy by 20% through enhanced treasury processes.
▪ Partnered with factory management to identify annual cost savings of 5% across materials and labor.
▪ Built profitability and pricing models for new products, influencing commercial strategy.

Key Responsibilities:
▪ Financial Reporting: Prepared comprehensive financial statements and analyzed deviations from budget and forecasts.
▪ Budgeting & Forecasting: Developed quarterly forecasts and annual budgets to guide financial planning.
▪ Cash Flow Management: Reported weekly rolling cash flow forecasts to ensure liquidity and financial stability.
▪ Performance Analysis: Conducted monthly performance reviews, identified improvement opportunities, and analyzed variances in raw materials, labor, and overheads.
▪ CAPEX & OPEX Tracking: Monitored capital and operational expenditures to ensure alignment with financial goals.
▪ Integrity Checks: Performed regular integrity checks on Bill of Materials (BOM) and unit costs to maintain accuracy.
▪ Audit Compliance: Ensured compliance with internal and external audit requirements.
▪ Pricing Models & Profitability: Supported the development of pricing models and conducted profitability analyses for new products.
▪ Procurement Liaison: Worked with the procurement department to report on procurement savings.

Advanced from Senior Accountant into a dual FP&A role. Oversaw financial analysis, reporting, and forecasting, while driving improvements in accuracy and insight quality.

Key Achievements:
▪ Developed profitability, sales, and margin analyses across customers, products, and segments.
▪ Prepared presentations for the Joint Venture Board meetings.
▪ Reviewed contracts for IFRS 15 compliance, improving revenue recognition and governance.
▪ Managed payroll, sales incentives, accruals, and prepayments with 100% accuracy.

Key Responsibilities:
▪ Analytical Reporting: Developed multi-dimensional analytical reports for internal stakeholders, including customer profitability matrices, sales productivity and gross margin analysis, OPEX analysis, and profitability assessments at segment and business unit levels.
▪ Financial Projections: Contributed to the preparation of periodic financial projections, including annual budgets and quarterly forecasts.
▪ Board Presentations: Prepared financial reports for quarterly reviews with the Joint Venture Board.
▪ Revenue Recognition: Reviewed contracts to ensure accurate revenue recognition and compliance with IFRS 15 standards.
▪ Payroll Reconciliation: Reconciled monthly payroll and ensured accurate journal entries.
▪ Sales Incentives: Calculated and processed sales commissions, ensuring timely payments.
▪ Financial Statements: Prepared initial financial statements and reports.
▪ Expense Monitoring: Monitored CAPEX and OPEX expenditures against budgets to prevent cost overruns.
▪ Purchase Approvals: Approved non-stock purchase requests and ensured accurate cost allocation.

Served as a Finance Business Partner to the Factory Manager, focusing on cost optimization and operational efficiency. Ensured data integrity, resource optimization, and accurate reporting for decision-making.

Key Achievements:
▪ Reduced factory costs by 7% YoY through variance analysis and BOM reviews.
▪ Conducted monthly reviews with leadership, aligning production with budgetary goals.
▪ Supervised cycle counts and inventory reconciliations, reducing reporting errors by 25%.
▪ Calculated and validated incentive payments for 200+ production staff.

Key Responsibilities:
▪ General Ledger Reconciliation: Reviewed and reconciled general ledger accounts to ensure data accuracy.
▪ Sales & Margins Analytics: Prepared and analyzed monthly sales and margin reports.
▪ Cost & Profitability Analysis: Calculated costs and profitability for new products and services.
▪ Bill of Material Integrity: Conducted regular checks on the Bill of Materials (BOM) to maintain data integrity.
▪ Cost Monitoring: Ensured accurate weighted average costing and monitored landed costs.
▪ Variance Analysis: Performed cost variance analysis comparing standard to actual costs for each component.
▪ Audit Compliance: Met internal and external audit requirements.
▪ OPEX Reporting: Prepared and analyzed operating expenses (OPEX) reports against budget and forecasts.
▪ Inventory Oversight: Supervised the cycle count team and approved inventory adjustments.
▪ Scrap Management: Conducted valuations and approved sales of scrap materials.
▪ Procurement Liaison: Coordinated with the procurement department to report on procurement savings.
▪ Production Financials: Led monthly meetings with the Factory Manager to review the financial impact of production activities and recommend improvements.
▪ Incentive Calculation: Computed monthly incentives for over 200 production staff, ensuring accuracy and timely payments.

Supported month-end closing processes, inventory management, and petty cash controls. Reconciled purchase orders with stock receipts and ensured accurate variance reporting.

Supported in a start-up environment with responsibility for reporting and analysis. Contributed to profitability analysis, pricing strategy, inventory reconciliations, and preparation of tax filings.