CFO
Alsawari Holding
مجموع سنوات الخبرة :36 years, 1 أشهر
Key responsibilities
a. Budgeting for all group sectors “per sector, per company & per project” annually and the quarterly updates
b. Member of the tendering commiitte to study, review and approve the pricing of the new projects
c. Review & approve all contracts with clients & sub-contractors and POs issued to suppliers
d. Review & maintain the bank facilities and controls the issuance of the required bank guarantees and LCs for imported material
e. Cash flow management for all sectors “per sector, per company and per project”
f. Liaise with companies GMs & Project Managers to ensure projects billing milestones have been met “the invoicing effeincy” and the invoices collection status is healthy
g. Review & approve the monthly/quarterly/annually financial closing for all companies & monitering the financial performance of each company & each project
h. Liaise with the Auditors “KPMG, MAZARS” to ensure quarterly & year end financial statements milestones have been met and all tax annual return have been submitted
i. Liaise with different departments to ensure that the finance department is properly supporting the needs of the operating businesses.
j. Implementing a new ERP system “SAP-S4/HANA” for all companies of the group to enhance the controls & the consolidation reporting
Key Responsibilities:-
a. Cash flow management per project
b. Review the financial performance of the projects
c. Liaise with Operation Director & Project Managers to ensure projects billing milestones have been met.
d. Liaise with Operation Director & Project Managers to evaluates the unbilled work “WIP” monthly using POC and ensure the proper accounting treatment.
e. Supervising, reviewing & approving contractual relationships with business parties, JVs partners & consortium partners
f. Liaise with Auditors “KPMG” to ensure quarterly & year end financial statements milestones have been met
g. Liaise with different departments to ensure that the finance department is properly supporting the needs of the operating businesses.
h. Supervising a finance team of 22 accountants
Key responsibilities
a. Implementing an ERP system “GL, AP, AR, project costing & progress billing, procurments, inventory, LGs, LCs, HR, payroll & personnel”
b. Ensure that the internal controls and financial policies & procedures are strictly complied with
c. Cash flow management monthly, quarterly & annualy “per project & for the corporate”
d. Managing banks relation and negotiating a new bank facilities and/or increasing the current facilities.
e. Negotiate a bank facilities for the new JV & Consortium projects
f. Review & Control the financial performance of the Joint Ventures & Consortium projects
g. Liaise with Operation Directors & Project Managers to ensure projects billing milestones have been met.
h. Liaise with Operation Directors & Project Managers to evaluates the unbilled work “WIP” quarterly and ensure the proper accounting treatment.
i. Supervising, reviewing & approving contractual relationships with business parties, JVs partners & consortium partners
j. Ensure accuracy and integrity of quarterly & year end consolidated financial statements
k. Ensure all taxes regulations are strictly complied with
l. Prepares a monthly reports package to analyse corporate consolidated financial performance
m. Liaise with Auditors “KPMG & E&Y” to ensure quarterly & year end financial statements milestones have been met
n. Liaise with different departments to ensure that the finance department is properly supporting the needs of the operating businesses.
o. Managing & supervising a finance team of 33 accountants
The duties are including "and not limited to"
(A) operating & financial management duties
»Ensure completion of all monthly financial reporting requirements within required deadlines including review of P&L and Balance Sheet
»Analyse monthly financial results projections
»Production of monthly management reports
- Profitability -vs- budget and analysis of variances
- Productivity and actions required to be taken
- Major Work In Progress reasons / milestones / expected invoicing
- Overdue debtors and actions required
»Monitor and approve the cash requirements forecasting “Cash Flow”, ensure all bank accounts are reconciled and that authorisation requirements are followed
»Periodic review of major client performance
»Identify opportunities for cost savings and operational efficiencies
»Ensure finance staff are trained in the accurate coding and processing of accounts payable and receivable documents
»Monitor monthly invoicing to ensure maximum possible invoices are produced and sent to clients on a timely basis
(B) monthly accounting reporting to the Middle East Financial Controller
»Responsible for the accuracy, content and reconciliation of all general ledger accounts and subsidiary ledgers for cost centres
»Ensure contribution to groups annual statutory reporting process is provided in an accurate and timely manner
»Liaison with external auditors “Deloitte, Ernst &Young” in regards of the annual & interm audit of the Company
(C) taxation responsibilities
»Ensure compliance with country’s income tax and indirect tax legislation and rulings, and GHD guidelines (VAT, GST, WHT, etc)
»Ensure that all tax reporting processes are accurately completed and submitted within required timeframes
»Ensure all transactions are dealt with in the correct manner for income tax including:
(D) Implementing the ERP system "Great Plains"
(E) all the personnel / admin. duties
-Responsible for all the financial aspects .. budgeting, cashflow, banking, cost control, taxation and coordinating with auditers
-Reviewing and approve all the claims of the sub-contractors & the consultants and ensure the availability of cash needs as per the approved cash flow
-Ensure the clients installments are collected as per the sales contracts “collection efficiency”
-Implementing and customizing “4S financial application” including all financial modules (GL, AP, AR, FA, cost control, inventory, procurments, payroll/personnel)
-Supervises all the finance staff and delegate responsibilities.
-Responsible for reviewing all payments, managing bank accounts
-Supervise preparation of daily treasury and monitoring cashflows
-Reviews bank reconciliations
-Supervises closing of monthly and year-end accounts for parent corporate and shareholders
-Prepares monthly, quarterly & annual financial statements
-Safeguards contracts and other legal documents
-Arranges for the external audit of the company’s accounts and provides the required reports and information to the auditors.
-Managing an accounting department, including the day to day operations and delegate responsibilities
-Responsible for reviewing all payments, managing bank accounts
-Supervise preparation of daily treasury and monitoring cashflows
-Prepares monthly bank reconciliations
-Responsible for the monthly and year-end accounts closing
-Responsible for monthly and year-end reconciliations of accounts
-Prepares monthly, quarterly & annual financial statements
-Implementing and customizing the ERP applications for the company's MIS
...for example... the EMIS 2000 system running on Oracle database including 10 modules (GL, AP, AR, FA, distribution, cost control, inventory, procurments, payroll/personnel)
Auditing the public sector companies and monitoring / evaluating the company's management performance / accomplishments during the financial year
maintaining the GL journals and the monthly trial balances + ensuring the accuracy of all the financial data in the MIS