Group Director of Finance
Shoaibi Group
مجموع سنوات الخبرة :28 years, 2 أشهر
Reviewed, designed and initiated changes to the Finance department to build a platform for a professional and value adding function. Introduced key structural changes to Accounting processes to overcome reporting difficulties and identified risks and opportunities in relation to tax, zakat and regulatory matters
Designed and implemented a complete new MI system covering both financial and operational aspects including KPI's, improved data collection and streamlined and integrated processes and procedures. Led the process of changing employment T&C's to enable the company to better manage resources and make the company more cost competitive in the market place
Stabilised and managed the finance team during a period of uncertainty and led the transition of transactional accounting to a FSSC. Reduced overdue debtors by 75% and became the global expert on AR setup in SAP and identified flaws and solutions to assumptions underlying the FSSC processing model. Project to assess the company’s readiness and capability to implement the Corporate Strategy
Business support during SAP implementation project and support to Divisional FD. Developed consolidated and automated divisional data analysis tool to compare, contrast and drill-down into companies, product lines and functions across the division. Promoted an enhanced weekly divisional cash forecasting model
Initial forensic accounting role to unravel service charge accounts for a newly acquired property portfolio. Original contract of one month expanded to include ongoing accounting and extended four times to eventually last twenty-one months
Implemented new procedures to improve retail and wholesale forecasting and stock control. Introduced improved communications and review process and actions to reduce stock levels by 20%. Supported and advised UK MD on strategic review of all retail outlets.
Managed finance teams across eight locations and delivered a restructuring to reduce costs by 20% whilst improving overall quality and capability of Finance team. Developed plans to reduce period end reporting time by 40% and initiated new procedures to identify, drive and monitor profitability improvement plans.
Employed to “kick-start” improvements in quality of information. Optimised cash-flow management and enhanced the reporting and forecasting process, which highlighted critical focus areas. Launched a revised process for project control and identified major development needs in the product costing process leading to a re-implementation of the MRP system and revision to existing commercial pricing decisions. Member of the senior team developing the five year strategic plan
Various small Financial consulting roles
Responsible for leading all budgeting, forecasting consolidation, and reporting both internally and externally to joint UK and US shareholders.
• Managed treasury and FX exposure and effectively delivered a £3M (10%) profit improvement through guiding procurement on optimum currency decisions in negotiations.
• Increased net cash flow by £6m (25%).
• Negotiated increased bank borrowing facilities, at no-cost, by demonstrating detailed understanding and forecasting accuracy for daily cash flow fluctuations.
• Challenged conventional thinking and redirected attention to focus on the £1.5m of products damaged within internal distribution process.
• Developed, presented and implemented restructuring plans to reduce finance headcount by 20% whilst improving business support and finance team career development opportunities.
• Recommended a new customer orientated approach to multiple failure products that would both save money and enhance customer experience.
• Resolved long-standing stock control issues and initiated system changes to standardise the MRP system across four sites and improve the quality of management information. Reduced operating costs by £300k immediately, increased system flexibility and provided detailed information on £4m per annum of previously unidentified stock “losses”.
• Redesigned a group-wide integrated forecasting and reporting system with enhanced analysis capability that improved cross-functional understanding, supported business modelling and reduced non-value added preparation time by 40%.
• Delivered a system capable of efficiently and reliably managing and reporting three separate sets of budgets, forecasts and actual results at any one time to satisfy three stakeholders with different budget requirements, reporting under both US GAAP and UK GAAP.
Managed and developed all Finance for Manufacturing, R&D, Quality and Procurement functions covering four manufacturing sites, 50+ Finance staff, and £400M per annum spend.
• Introduced the concept of Total Cost Productivity and supported manufacturing teams to deliver productivity improvements of 7.5% while improving quality by 20%.
• Built and validated a model to predict warranty failure numbers to provide enhanced information to improve forecasting and manpower planning. Released £3.4m (25%) of warranty provision to the P&L account as a result of improved understanding/assumptions.
• Generated cash improvement of £2m and a 42% NPV benefit by negotiating a sale and leaseback agreement for R&D software.
• Managed the integration of two separate accounts payable teams into one, following company merger, and reduced headcount by 50% saving £250k per annum.
• Introduced best-practice uniform standard costing, accounting, reporting and operational KPI’s across multiple sites following a merger to ensure common approach and enable direct comparison and internal benchmarking and to support ongoing improvements.
• Created a clear and supportive environment for recruiting and developing Finance talent leading to increased capability and motivation which three years later was source of four of top six roles below FD and achieved whilst reducing headcount by 18%.
• Introduced a number of reporting systems to accurately and reliably track, monitor and forecast purchase price variances.
• Improved capital planning process to enhance project control and maximise utilisation of available funds.
Responsible for all Financial Accounting and company secretarial duties for parent company and all UK and European subsidiaries
• Reduced statutory accounts timetable by over 85% through improved processes, procedures and automation.
• Identified causes of stock discrepancies and developed specification for changes to the MRP system to remove causes of problems and ensure validity of information.
• Managed all accounting and legal requirements and liaised with international lawyers for two foreign subsidiaries and ensured compliance with complex double-dip leasing agreements to obtain full financial benefit and avoid risk of double taxation.
• Rebuilt a £1B fixed Asset register and introduced revised accounting and operational procedures to improve ongoing management and control of fixed assets.
Responsible for Oracle Financials ERP System and all Finance aspects for a planned international night train service.
• Primary Finance lead supporting the project team on a four country multi-currency £1B rail project. Managed the business plan and advised on currency issues, system requirements for a complex revenue sharing agreement and chaired tax reviews of international VAT experts considering the complex VAT requirements of cross border trains.
• Developed finance clauses and incentive proposals to drive quality performance for a £25m catering contract, presented to management and following acceptance became lead expert on whole contract both briefing lawyers and as a member of the contract negotiation team.
• Improved the understanding, efficiency and performance of the finance ERP system through education and training and implemented a fully integrated multi-currency approach.
Reported to Finance Director and provided financial information and support for the Fleet Engineering team across three maintenance depots.
• Validated an operations manpower planning model and advised operations management to take into account model inaccuracies that were causing resource requirement to be overstated by 20%.
• Independently assessed a new BR system and then wrote and presented a training session to brief twenty other Finance Managers on its various problems and effective solutions.