Manager, Construction Finance
Emaar - Saudi Arabia
Total years of experience :14 years, 0 Months
Constructon Finance & PMO Role:
• Provided Governance, Oversight and Controls over the Operational Readiness portfolio of projects
• Created consolidated Overall KAEC Construction S-curves (baseline schedule, earned values and actual cost EVM analyses)
• Created PMO department polices such as Approval workflow matrix across the organization.
• Created all workflow charts as per the updated PMO policies.
• Forecasted overall projects completion based on the actual progress.
• Verified supervision consultant progress reports based on the breakdown structure & upcoming
milestones.
PROFILE
I have Over 13+ years of Accounting, Finance, IT and Construction Industry experience in various areas of Financial Accounting, Project Costing, Accounts Payable, Monthly Reporting and Project Monthly Dashboards. Experience in various areas including, but not limited to capital and operating budgets, financial analysis, f and reporting, Accounts Payable policies and procedure with established ability to lead projects and initiatives that drive performance.
• Created Exectuve Project Reports for all the projects worth SR 1 billion
• Business Control knowledge and proficiency in developing budgets and forecasts
• Overall Variation Orders tracking & their evaluations
• Managed Overall KAEC Construction Deductions & Penalties based on the contract terms
• Implemented KAEC Construction Projects Risk Dashboard for overall Construction Department
• Managing Supervision Consultant Staffing plan and evaluating their performances
• Performed cost tracking and Earned Value analysis with internal and external reporting and briefing.
• Implementation of the project cost tracking system to monitor and analyze budget, commitments, actual cost and cost variances.
• Reconciled all the project historical transactions and re-aligned with the respective projects. Accounts Payable & Reporting Activities:
• Approved overall KAEC CAPEX IPC’s and verified overall financial data and progress data based on
the contractual terms.
• Created Ad Hoc Reports as per required by the Top MGMT
• Created MGMT CAPEX Dashboard report for Economic City of Author ities, G-CFO & G- CEO
Accounts Payable & Month End Closing Activities:
• Manages accounting functions including maintenance of general ledger, accounts payable, and project accounting; ensures accuracy and timeliness
• Develops implements and maintains systems, procedures and policies, including accounts payable functions to ensure adherence to company guidelines.
• Provides accounting assistance to project managers and operations staff; responds to financial questions/concerns to meet business needs
• Managed month end closing tasks for all Accounts Payable related accounts
• Reallocated job duties for staff to improve workflow by focusing on individual's strengths / responsibilities, which reduced duplication of effort and resulted in 85% reduction in account errors
• Completed month-end closing deadlines. Reviewed unposted accounts payable entries and made coding corrections as requested by G/L department
• Established / supervised process to address / rectify errors in prepaid, asset / accrual acco unt allocations, resulting in major time reduction by GL staff for accurate reconciliation
• Managed monthly Accounts Payable reconciliations and tele all entries with General Ledger
• Reconciled all complex transactions in the system and in the monthly reporting for audit queries. Fixed Assets & Month End Closing & Reporting Activities
• Designed and prepared reporting package for fixed assets and lease.
• Ensured compliance to all policies and procedures for fixed asset accounts..
• Managed month end closing along with reporting activities.
• Provided an efficient interface between finance and operations.
• Reviewed and capitalized all new and present assets.
• Reviewed and managed over SR 1.6 billion worth of assets.
Cost Control & Reporting Activities:
• Created Project master budget from the scratch with advance budget VS Actual reporting module on excel
• Established budget and cost control procedures to ascertain the tracking of all project cost
• Handle the tasks of monitoring cost control activities of the project like project scope control, changes and transfers
• Identified and reported cost overruns/under-spends so that project management can take appropriate actions.
• Regularly visited sites to collate data and to review cost control performance
• Facilitated effective interaction with corporate and technical functions
• Working with various operations and support units to ensure that accurate and timely cost data is available for preparation of cost reports
• Reviewing & processing for payment the invoices covered by technical & administrations contracts & work orders issued according to company approved policy, regulations and procedures and authority of limitation
• Prepared monthly cost reports for projects; provide cost till date and forecast cost and variance at completion. Highlighting areas of concerns and give recommendations to limit the variances
• Reviewing cost estimates by engineering firms at each stage of design & Monitoring and compare cost estimate for each element against approved budget
• Perform cost data processing and analysis to provide management with project status, forecasts and definition of alternatives
• Aided budget forecasting process and evaluated weekly staffing reports
• Outlined cost reports and guided management and discipline personnel
• Coordinated with Project Director with regard to results of analysis
Procurement Activities:
• Negotiating price and terms of products with suppliers
• Reviewing all contracts/agreements to achieve ‘best price/best quality’ purchasing
• Making recommendations & advising senior management on all purchasing issues
• Managing, developing & improving the purchasing team
Contract Administrator Activities:
• Negotiating and managing external and internal procurement and contracting arrangements
• Identify procurement opportunities and ensuring these opportunities are evaluated and progressed
• Making amendments to contractual documents
• Prepared/defending/assessing most types of contractual and extra contractual claims, such as the more complex variation claims, claims for extensions of time, delay and disruption, delay costs, loss of profit, & damages
• Provided independent expert reports on issues concerning contract administration, construction claims, variations, extension of time, delay disruption, global claims and professional conduct of project managers, construction managers, superintendents and contract administrators
• Handle the tasks of monitoring cost control activities of the project like project scope control, changes and transfers
• Responsible for preparing cost report updates and report generation for review by Boards Members
• Working with various operations and support units to ensure that accurate and timely cost data is available for preparation of cost reports
• Perform cost data processing and analysis to provide management with project status, forecasts and definition of alternatives
• Working closely with the projects teams to identify cost impacts of proposed changes and incorporate those impacts into the Project Work Plan
• Developing of organization breakdown structure & standard work breakdown structures for projects(WBS)
• Reviewing cost estimates by engineering firms at each stage of design & Monitoring and compare cost estimate for each element against approved budget
• Creating and updating of reports to accurately reflect current budgets, invoices and committed costs, cost to complete estimates, and budget variances
• Prepared monthly cost reports for projects; provide cost till date and forecast cost and variance at completion. Highlighting areas of concerns and give recommendations to limit the variances
• Reviewing and analyzing project execution plans and periodic project reports prepared by projects. Identify problem areas and risks, monitor and identify risk, provide recommendation to mitigate risks.
• Created Ad Hoc Reports as per required by the Top MGMT
• Prepared master budget for divisions and financial briefings to internal senior leadership and external stakeholders (Chief Executive Officer & President, and Vice Chairman)
• Plans, develops, implements, and maintains budget and financial systems. Analyzes program and budgetary guidance, Provides interagency policy and procedures, budget formulation assumptions, and formats and schedules to service organizations for budget submissions
• Formulated effective recommendations for cost reduction measures, maintained/consolidated budget and accounting systems, and produced financial reports to senior management
• Performed Scenario Analysis to align operational and financial resources with growth objectives
• Assisted in the preparation of what-if analysis; costing models; development of multi-year financial projections; and development, preparation, maintenance and distribution
• Developing numerous forecasting models to examine company’s projected short- and long-term growth based on key indicators, sales projections, cash flow analysis, valuation, assets, liabilities, and credit risks
• Provide management with analysis of impact of new launches, programming changes and cancellations by creating business models reflecting strategic direction, business needs and operational requirements.
• Worked with Divisional General Manager to create quarterly, annual, and long-term financial forecasts
• Track and review sales group’s performance, examining revenue trends and assessing market conditions on weekly basis
• Attend weekly meetings with department heads to evaluate key indicators, including market conditions, sales projections, and emerging opportunities based on competitive analysis
• Analyzed profitability of the top accounts to determine best strategies for improving each customer-s spending and revenue generation. Worked closely with sales and operations to ensure profitability strategies were successfully executed
• Prepared and submit the group’s monthly financial results, budget and quarterly rolling forecasts and complete the reporting requirements to the company
• Performed detailed account analysis and corporate month-end processing and reporting
• Collaborated with various groups to research, escalate, and clear cash and settlement exceptions in a timely manner
• Forecasted non-capital expenditures and budget and reconciled with actual for the functional group; prepared monthly accrual, G/L, , and account reconciliation
• Reviewed, analyzed and updated standard costs, product margins and cost variances; suggested and deployed actions to improve revenue and profits
• Prepared profitability analysis and evaluated new products including pricing relative to the market as well as setting up appropriate markups
• Developed monthly internal financial reporting package including unit/revenue/average sales price, income statements, cash flow, & balance sheet
• Developed responsibility accounting review system to compare actual financial performance to plan and provided each responsible manager with reports and analysis
• Supervised employees in the Finance and Administration Department and was responsible for the overall direction, coordination and evaluation of this unit
• Track and review gross and net sales including gross margins in producing forecasts and trend analysis on an on-going basis
• Provide financial support and analysis to Operations and Marketing areas for strategic business decisions and cost savings initiatives
• Analyzed and identified underperforming assets which reduced waste, improved purchase and sell decisions, lowered expenses 5%, and increased cash flows
• Reviewed the monthly Business Activity Statements and review all monthly balance sheet reconciliations
• Prepared and reviewed variance, cash flow and KPI reports
