chief financial officer
Overseas marine logistice
Total years of experience :26 years, 3 Months
• providing leadership, direction and management of the finance and accounting team
• Providing strategic recommendations to the CEO/president and members of the executive management team
• Managing the processes for financial forecasting and budgets, and overseeing the preparation of all financial reporting
• Advising on long-term business and financial planning
• Establishing and developing relations with senior management and external partners.
• Reviewing all formal finance, HR and IT related procedures.
• Performing risk management by analyzing the organization’s liabilities and investments
• Deciding on investment strategies by considering cash and liquidity risks.
• Manage vendor relationships
• Prepare reliable current and forecasting reports
• Set up and oversee the company’s finance IT system
• Ensure compliance with the law and company’s policies
Financial Planning and Management:
• Providing leadership, direction and management of the finance and accounting team
• Providing strategic recommendations to the CEO/president and members of the executive management team
• Managing the processes for financial forecasting and budgets, and overseeing the preparation of all financial reporting
• Advising on long-term business and financial planning
• Establishing and developing relations with senior management and external partners and stakeholders
• Reviewing all formal finance, HR and IT related procedures.
• Prepare monthly /quarterly and yearly consolidated group financial statements as per International Financial Reporting Standards (IFRS)
• Prepare group level financial analysis, executive summary and presentation for Senior management/board meetings.
• Lead and manage all financial system implementation and enhancement
• Define the policy, procedures and internal systems of the accounting and finance department, verify accounting treatment accorded to complex business transactions (local and international) and ensure accountability and transparency in reporting.
• Direct the finance team with overall control of the company’s accounting and finance function to optimize the company’s financial performance and strategic position.
• Coordinate and direct the preparation of the budget, financial forecasts and report variances; forecast cash flow positions, related borrowing needs and available funds for investment.
Cash Flow and Treasury Management:
• Monitor treasury operations closely and maintain sufficient cash to meet the daily business operational needs.
• Conduct Duration Gap Analysis to understand timing of cash inflows and outflows and finalize risk management strategy.
Capital Budgeting:
• As part of capital budgeting, analyse the visibility of prospective projects and finalize profitable ventures for business growth; review capital requirements, liaise with banks to secure short-term and long-term finance as per funding needs.
• Review variance in budget with projects management. Monitor operational expenditure limits, exercise effective budgetary control and recommended corrective measures to check variance during the budget cycle.
Accounting Procedures and Record-keeping:
• Monitor accounting data, maintain accounting records for each transaction, ensure appropriate preparation of general ledgers, trial balance and financial records and keep accounting filing system as order.
• Coordinate the preparation, maintenance and preparation of projected P & L Account & Balance Sheet as required by bank authorities and other financial institutions.
Audit:
• Interact with external auditors for audit procedures and establish and maintains appropriate internal control safeguards.
• Review and analyse the monthly project reports from the internal departments with a view to assess the reasonableness and accuracy of billings, claims.
Financial Procedures and Controls:
• Interact with other department/division managers to provide consultative support to planning initiatives through financial and management information analyses, reports, and recommendations
• Supervise and monitor the team in ensuring the full implementation of ERP system and make sure that its complying with control and risk assessment procedures and guidelines .
Continued From Previous Section...
Key Responsibilities:
Disbursement of Accounts Payable /Receivables :
• Track account payable/Receivables and monitor the ageing and apply the best procedures to collect the dues from client and pay the vendors systimatically,
Accounting Procedures and Record-keeping:
• Monitor accounting data, maintain accounting records for each transaction, ensure appropriate preparation of general ledgers, trial balance and financial records and keep accounting filing system as order.
• Coordinate the preparation of financial statements, financial reports, and special analysis and information reports.
• Review and approve payroll to ensure accuracy and that costs are correctly allocated.
• Oversees the approval and processing of revenue, expenditure, and position control documents, department budgets, salary updates, ledger, and account maintenance and data entry.
Audit:
• Interact with external auditors for audit procedures and establish and maintains appropriate internal control safeguards.
• Review and analyse the monthly project reports from the internal departments with a view to assess the reasonableness and accuracy of billings, claims, variations and to monitor the level of certification by the employers on projects.
Financial Procedures and Controls:
• Interact with other department/division managers to provide consultative support to planning initiatives through financial and management information analyses, reports, and recommendations
• Supervise and monitor the team in ensuring the full implementation of ERP system (EPICOR) in the company and its subsidiaries
• Develop and implement finance, accounting, and billing procedures.
• Perform reconciliation of individual accounts and strengthen of the internal control procedures for the entity.
* • Ensured that accounting procedures are in adherence to GAAP and that internal controls are in place so that financial reporting is carried out reliably and in compliance with regulations.
*Determined the levels of financial risk within organizations and ensured that financial reports and records are accurate and reliable.
Key Responsibilities:
Financial Management and Control:
• Developed and administered the policy and procedures of the accounting & finance department.
• Coordinate and directed the preparation of the budget, financial forecasts and report variances; forecasted cash flow positions, related borrowing needs and available funds for investment.
• Prepare financial statements and reports, performed ratio analysis to understand liquidity and profitability position of the company, analyzed turnover ratios to highlight the effectiveness of credit policy, payable schedules, collections management etc.
• Evaluated credit worthiness of existing and potential customers, checked their credit history for approval of credit sales; took decisions on credit policy and credit limits to be extended.
Responsibilities :
* ensure compliance with all group policies and procedures.
*Ensure timely and adequate period end closing and reporting.
* Manage the accounting and finance team within the department.
* Manage the relationship with external and internal auditors with coordination with the head office.
Business Partnering:
* Provide the business managers with a financial insight into their business’s performance - profit and loss
Liaise with departmental managers, providing support on finance related matters; dealing with queries and issuing procedures.
* Work with other members of the local Management Team to plan the future direction of the business and ensure that the strategic jobs are fulfilled.
* Production and development of business KPIs and follows up the efforts to adhere to them and improve the overall performance.
* Translates business strategies into financial plans in partnership with various departments in the company.
Supports the management team in the achievement of the profitability target.
* Revisit current and existing processes and highlight possible improvements.
Reporting and Analysis:
* Manage and provide support in the budgeting and forecasting process - guiding management through the process, and consolidating the results for submission.
* Ad hoc management reporting and analysis in such areas as margins and profitability for local management and other business stream.
Treasury and Cash:
Manage the cash activities and closely monitor the cash flow of the company
Work closely with banks on day to day operational transaction with coordination with the (Treasury Head.
* Directly reports to the General Manager .
PREVIOUS ASSIGNMENTS:
• Branch Manager, Beit Al Maal for Saving & Investment, Amman, Jordan, Sep 1995 - Dec 1997