group financial controller
Future group - al jazera paints HG - 6 companies in profile
Total years of experience :35 years, 3 Months
Acting on all financial aspects, to organize old individual companies, transferring them into a holding group work environment as subsidiaries under the group umbrella, forming the working policies & procedures for the group on a corporate governance basis.
Managing all financial activities for the 6 different subsidiaries while maintaining each business model needs, helping the owner to run the business as per Budgeting & Forecasting, Strategic Thinking, Financial Strategy, Stakeholder Management, Board Presentations.
TSC tinting Systems Company
Future steel factory
Future construction Tools Company
Future paint Tools Company
Future for blocks factory
Future for pigment factory
Finance controller for managing all 11 Affiliate companies
& consolidation
BOD secretary
Ex-Com secretary
Partner with the CEO on all operational and strategic issues as they arise, provide strategic recommendations to the CEO, Ex-com, BOD, based on financial analysis and projections.
Oversees the accounting function and develop detailed accounting procedures of the group and ensures that these are properly rolled out across the group subsidiaries.
Oversee budgetary periodic planning in alignment with the long-term Company strategic plan.
Develops and owns the chart of accounts and ensures these are rolled out with appropriate training across the group, Owns and leads any changes to the chart of accounts
Leads the understanding and implementation of the GAAP changes, IFRS and keeps abreast of SOCPA requirements
Develop and maintain relationships with the local financial community (auditors, zakat fiscal office, banks) to serve the best interest of the group business.
Highlights
• Experience in Multi Business models / MNC environment
• Experience in Manufacturing & Distribution business
• Experience in preparing business strategic plans, financial budgeting and forecasting and interpreting business performance, KPIs, Dashboard.
Responsibilities:
• Managing the financial activities for falcon industry, including 4 subsidiaries, and consolidation.
• Managing the Oracle ERP system implementation.
• Managing the internal control unit
• Managing the accounting system, insuring adherence to the group SOP, proper application of the GAAP, IFRS & SOQPA compliance.
• Implement appropriate internal controls and procedures to protect and preserve the company’s assets and ensure accurate accounting and reporting of the company’s business performance.
• Controlling, the company Dashboard, insuring proper financial reporting system,
• Review the standard periodic performance reports, also design & prepare nonstandard periodic and ad-hoc management reports and presentations ,
• Monitoring and interpreting the companies’ business performance, including insightful variance analysis and commentary.
• Preparing the KPI of the company,
• Provide business consultancy advice and assistance to the companies’ senior management as required to achieve financial targets and improve business and financial performance, including product and service costing vs. pricing strategies, etc.
• Financial due diligence on the new business acquisition and evaluation of such acquisition.
• Assist the companies’ management teams to identify and implement action plans required to correct adverse business and financial performance, corrective and preventive action plans.
• Involve and participation in the new projects undertaken by the entity in terms of budgeting, planning and execution of the project.
• Provide strategic, business and financial input into the periodic Business Plan
• Coordinating business with internal and external audits, Prepare the annual audited financial statements in co-ordination with the Group
• Prepare & demonstrate the BOD presentations. Provide the GM with appropriate financial consultancy advices to assist in decision support making and future business strategic presentations.
• Prepare & demonstrate the internal audit committee business follow up reports.
• Oversee all the preparation of business plans and financial forecasting (including applicable feasibility studies to support business development, and new investments).
• Managing the costing department and the inventory control unit, to Advice management on the optimum inventory levels, identification of non-moving and obsolete inventory items to minimize the losses. Also advice on disposal of such inventory,
• Supporting revenue recognizing and recording activity as well as cost reduction and cash inflow/outflow optimization.
• Strong MIS competencies with a focus on planning and budgeting, financial reporting and fiscal analysis.
• Design the COA & C.C listing,
• Reengineering the SOP of the company,
Responsibilities:
• As the group CFO the chief financial officer, and it is the top finance position of group holding company.
• Responsible for the accounting departments over nine companies, budgeting, reporting, audits& control, financial business practices, -undertaking in compliance with each industry standards, and ensuring the company is financially sound for meeting its business goals.
• Responsible for the finance strategy in the company on the basis of market trends, projections, forecasts and in consensus with other senior members of the company.
• The complete group relies on my expertise as a CFO to handle the investments of the company as well, financing, visibility studies,
• As the CFO, I'm reporting to the CEO, GM, and the board of directors.
• The complete organization is responsible to analysts for which the CFO is the key driver. In short I myself considered the Accountant Extraordinaire.
• As CFO by qualification I have a formal accounting degree with a masters in Accounts, finance or business, a CMA qualifications, over 20 years field related experience and in-depth knowledge of developments in the industry.
• As CFO with over 20 years relevant experience in a leadership role, with right attitude, sound leadership skills, team player, decision maker, sound business and industry sense .
• My vision is In view of leadership approach as Peter F Drucker once said, ‘Management is doing things right, leadership is doing the right things.’ Both CFO&CEO being critical functions will require working in synergy to drive all the results & to achieve all group milestones.
• Responsible for ERP shifting & setting up all the infrastructures of the project.
• Assesses investment worthiness of potential new projects and proposes best funding resources.
• Performs financial evaluations for store investment and divestiture decisions.
-Providing accounting and operational standards guidance within the Commercial and Administration Finance group, .
-Strong foundation for usage of electronic & on line banking systems
- Establish a strong legal foundation of the company while shifting from limited liability to public share holding company >
- increasing the capital structure from 4.3 up to 124 million SR,
Responsibilities:
• Reviewing and devising monthly / annual financial statements, controlling and focus on income growth,
• Directing an expert team of highly qualified financial professionals in planning, organizing, directing, controlling and evaluating the operation of financial department.
• Designing budget guidelines to optimize cash flows, managing investments and working capital requirements, advising higher management on optimal utilization of financial structures within the company to enhance ROI.
• Analyzing business performance reports to manage short and long term debts, cash rollover, investment proposals.
• Examining collection reports to determine status and recommend changes in current collection practices and policies accordingly,
• Analyzing credit policy feasibility in view of revenue generated and profits. Initiating recovery processes through respective agencies.
• Liaising with the principal clients, vendors, financial and banking institutions on related activities and supporting top management on contractual negotiations that effect company’s financial or non-financial obligations.
• Held total responsibility for all negotiation with banks to minimize interest rates and foreign currency exposure,
• Responsible for developing and executing financial strategies on an annual basis.
• Evaluates the financial performance at year-end, and reports to the CEO & GM
• Develops and maintains financial planning and budgeting systems & processes to ensure the efficient and effective management of the company’s resources towards achieving its Goals.
Key Projects/Highlights:
• GSN (global supply network) project - served as the finance manager
• GMS (global manufacturing & supply) Worked as the CFO deputy for finance - costing - internal control and operational excellence "in view of execution of responsibilities for Egypt and Algeria.
• Awarded the lean sigma, green belt certification.
• Awarded the Bravo recognition - 2005
• Spearheaded the development and implementation financial policies, new ERP systems, procedures and guidelines to ensure smooth business flow,
• Prepared year-end schedules for audit and liaised with external audit companies (GIA, PWC) to respond to specific queries. Executed the annual audit plan for Cairo and Algeria site.
• Prepared and reviewed P&L associated financial statements, summaries, other cost-benefit analysis and financial management reports drafted as per GAAP standards. Analyzed general ledger accounts to determine their accuracy and ensure all funds are managed appropriately.
• Evaluated financial reporting systems, accounting procedures and investment activities to effect requisite modifications. Controlled CAPEX & FA.
• Supports annual and long term strategic planning processes 3&5 years ahead
• Prepared year-end schedules for audit and assisted in execution of financial audits.
•Conveyed all business risks to management, prepared the risk assessment report, along with recommendations. Controlled all business at risk items and write offs.
•Controlled all company fixed assets and performing monthly allocation, annual planning, foretasted and performed monthly matching of actual vs. plan variances.
•Designed, implemented, directed and monitored processes to attain inventory accuracy, inventory investment, transportation cost and manpower planning objectives.
• Responsible for developing and executing financial strategies on an annual basis.
• Convey business strategies into financial short term plans among various departments in the company
Highlights
• Awarded the employee world cup by Master card international in view of exceptional over All performance - 1998
• Was recognized for efforts made in promoting the bank's mutual fund stocks and conferred the "extra effort beyond duty" recognition - 1995
Responsibilities:
• Used key system audit tools to maintain a close tabs on account payables, account receivables, due diligence for financial accounting and year end closing.
• Aided in creating a comprehensive guideline and schedules for internal audits to ensure minimal nonconformity reports from external auditors.
• Part of a team to evaluate organizational requirements initiate standard operating procedures, best practice tools, and key performance indicators.
• Controlled the monthly credit cards affiliate balances, reported on the same to the MD and the credit cards centre.
• Managed the inventory physical count and prepared the monthly reconciliation for the whole department.
Certified Management Accountant from IMA international
usage of automated information systems in different commercial business fields
Other Job Related Courses / Trainings Attended: • The 7 Habits of Highly Effective People • Lean sigma advocate training -Green Belt . Leading & Managing Lean Sigma . Building the Next Generation of Leaders . Leadership edge • Money & investments study at the financial institution for 6 months. - Misr Bank • Training on Advanced Banking & Economic Investments -Misr Bank • Training on detection of money & documents forgery by minister of internal affairs. - Misr Bank • Other specialized courses in Islamic Banking Affairs - Misr Bank