Group CFO
Balsharaf Group
Total years of experience :28 years, 4 Months
Managing all aspects of Finance for 6 entities across Saudi Arabia which includes 14 warehouses, 2 retail Units 2 Manufacturing Units, Diversified distribution portfolio, Key Accounts and Wholesale and Van Sales
Handling relationships with and discussions on re-structuring of long outstanding liabilities with Banks
Risk Analysis of the group and its resolution
Giving Planning & Reporting service as outsourced resource for multiple non-group entities
Handling the process of re-structuring of long-term loans with the Banks
Financial feasibility of project designs, new land purchases, Saleable Area optimization and monitoring of project progress.
Reporting and recommending changes to optimize revenue on ongoing and completed projects.
Providing focused financial support services including accounting and budgeting, financial analysis and planning, internal audit, risk management (Insurance), financial systems management, creditors’ payments and the collection of debts thus operating to the highest possible standards of financial management
Overseeing the management and coordination of all fiscal reporting activities for the organization including: organizational revenue / expense and balance sheet reports, reports to funding agencies, development and monitoring organizational policies & budgets.
Developing and maintaining systems of internal controls to safeguard financial assets of the organization.
Analyzing various processes and recommending process modifications to enhance operational efficiency.
Analysing and streamlining the existing systems and procedures; reporting important irregularities for follow up action and rectification.
Managing the funds of the Company and liasoning with Banks
Finalising Annual Accounts and Annual Reports
Managing all activities of Insurance.
Handling Annual Business Planning and Performance Monitoring.
Spearheading the commercial function in the factory.
Controlling raw material procurement and planning.
Managing pricing and profitability
Forex fluctuation risk management
Development in association with Stern Stuart & Co., Consultants, an EVA based performance evaluation system to achieve higher EVA through cost reduction & increased contribution from products.
Served as a part of the Cost Implementation Group in association with the company’s Consultants, Mckinsey Inc. & Co. for implementation of Cost Reduction wave TOP (Total Operational Performance).
Analysed the Working Capital of the company for the special task force on Strategic Cost Reduction.
Assessed the Wages System.
Involved in the reconciliation and recovery of long outstanding advances.
Commenced a structured Business Planning Process.
Ø Overall Annual Business Plan of Tata Steel
Ø Evaluating, analyzing and reporting on the performance of all the Strategic Business Units of Tata Steel .
Ø Evaluation of outsourcing and other projects.
Ø Ensuring timely preparation & finalization of Monthly & Annual Accounts of the Division, liasoning and ensuring completion of Statutory, Internal and Tax audits.
Ø Monitoring of Working capital & monthly working capital report to Profit Centre Council
Ø EVA analysis for the Division .
Ø Developing the cost and maintaining the overall profitability picture of the division.
Ø Making the monthly and weekly EIS for the Dy. MD.
Ø Developing the Annual Business Plan for division.
Ø Providing decision support for all aspects of cost and profitability such as, whether to Produce / sell a particular product, whether to accept a particular order, the price at which to sell etc.
Ø Valuation of stocks with the division, with its conversion agents and its branches.
SPECIAL ASSIGNMENT:
To function as a part of the Cost Implementation Group in association with the company’s consultants, Mckinsey Inc. & Co.
Involved in the starting of the Business Planning process in Tata Steel - job responsibility consisted of development of a model for determining stage wise and product - wise cost of Steel for forecasting and sensitivity analysis - this model is still operational and is frequently used for critical decision making.
Ø The job consisted of a full understanding of the steel making process to develop a user friendly spreadsheet to calculate the steel cost and profitability.
Ø Regular analysis of the performance of the company down to the parametric level for use at various forums including the MD’s presentation to the Board of Directors.
Ø National & International benchmarking of cost and related operating parameters in the steel making process.
Ø Formulation of the Annual Cost reduction plans.
Ø Viability studies of various products and divisions of the company. Based on such studies various closures and changes were made .
Ø Providing the cost of the company’s products on a weekly basis aiding the management in taking timely corrective actions.
SPECIAL ASSIGNMENTS -
Study of the Working Capital of the company for the special task force on Strategic Cost Reduction. A number of suggestions were accepted and implemented.
Ø Audit of projected and actual savings of the company’s TOP programme with
Ø The company’s consultants, Mckinsey Inc. & Co.
Ø A study of the EVA of the company.
Ø Product mix optimisation of the company’s bearings division.