Chief Financial Officer CFO, GFC
Integral Group Holding (IGH)
Total years of experience :19 years, 2 Months
• Development and preparation of the annual, quarterly, and monthly accounting reports along with the preparation of budgets and forecasts for the projects to understand and review performance against goals and objectives.
• Provides management with timely reviews of the organization's financial status and projects progress in its various planned programs and activities.
• Proficient preparation of financial reporting in accordance with International Financial Reporting Standards (IFRS).
• Communicate business risks with upper management; and going deeply through financial statements, analysis and financial ratios such as liquidity, which help the management to know the strength and the weaknesses of the business. And find appropriate solutions to improve the situation.
• Analyses monthly financials and budget variances and prepare monthly variance reports while ensuring that all of our accounting systems and processes meet business and regulatory requirements in order to look forward to ways to improve the accuracy, efficiency of the workflow.
• Prepare and conduct reviews of variance, cash flow, and KPI reports
• Provide timely management reporting and project analysis, including the development and maintenance of KPI and analytical tools.
• Assist with the development of new policies and procedures to provide recommendations for continuous improvement of accounting processes and procedures.
• Review and recommend the preparation of standard and recurring adjusting journal entries for cash, A/R, A/P, inventory, prepaid expenses, accrued expenses, payroll, and structure the documentation for the general ledger system.
• Conduct project financial reviews to understand project performance and initiate appropriate actions to reduce financial variances (non-conformance costs) and meet project objectives.
• Coordinates and produces financial analysis during the project tendering phase and review the contractual terms of the project (deliveries, duties, penalties, financial terms, etc.)
• Project financial follow up during the contract execution with the support of cost controllers.
• Maintain excellent relationships with Banks related to the general facilities such as LC’s/ LG’s, and project financing.
• Manage the periodic forecasting schedules including direct accountability for all costs for the purpose of providing accurate budgeting, variance analysis, and financial reporting.
• Oversees all Audit and internal control operations.
• Coordinate the External Audit for consolidated and standalone financials of the Group and Subsidiaries.
• Responsible for the financial operations of all the manufacturing facilities. Manages and directs the development, interpretation, and reporting of financial data to support the attainment of plant/workshop.
• Maintain fixed asset systems and provide guidance for accounting for acquisitions, transfers, and disposals.
• Leading a team, which was consisting of 2 Finance Managers, 1Accounting Manager, 2 Chief Accountants, 6 Sr. Accountants, 22 accountants, 4 administrative officers.
• Development and preparation of the annual, quarterly, and monthly accounting reports along with the preparation of budgets and forecasts for the projects to understand and review performance against goals and objectives.
• Provides management with timely reviews of the organization's financial status and projects progress in its various planned programs and activities.
• Proficient preparation of financial reporting in accordance with International Financial Reporting Standards (IFRS).
• Communicate business risks with upper management; and going deeply through financial statements, analysis and financial ratios such as liquidity, which help the management to know the strength and the weaknesses of the business. And find appropriate solutions to improve the situation.
• Analyses monthly financials and budget variances and prepare monthly variance reports while ensuring that all of our accounting systems and processes meet business and regulatory requirements in order to look forward to ways to improve the accuracy, efficiency of the workflow.
• Prepare and conduct reviews of variance, cash flow, and KPI reports
• Provide timely management reporting and project analysis, including the development and maintenance of KPI and analytical tools.
• Assist with the development of new policies and procedures to provide recommendations for continuous improvement of accounting processes and procedures.
• Review and recommend the preparation of standard and recurring adjusting journal entries for cash, A/R, A/P, inventory, prepaid expenses, accrued expenses, payroll, and structure the documentation for the general ledger system.
• Conduct project financial reviews to understand project performance and initiate appropriate actions to reduce financial variances (non-conformance costs) and meet project objectives.
• Coordinates and produces financial analysis during the project tendering phase and review the contractual terms of the project (deliveries, duties, penalties, financial terms, etc.)
• Project financial follow up during the contract execution with the support of cost controllers.
• Manage the periodic forecasting schedules including direct accountability for all costs for the purpose of providing accurate budgeting, variance analysis, and financial reporting.
• Oversees all Audit and internal control operations.
• Coordinate the External Audit for consolidated and standalone financials of the Group and Subsidiaries.
• Responsible for the financial operations of all the manufacturing facilities. Manages and directs the development, interpretation, and reporting of financial data to support the attainment of plant/workshop.
• Maintain excellent relationships with Banks related to the general facilities such as LC’s/ LG’s, and project financing.
• Maintain fixed asset systems and provide guidance for accounting for acquisitions, transfers, and disposals.
• Leading a team, which was consisting of 2 Accounting Managers, 2 Chief Accountant, 2 Sr. Accountants, 7 accountants, 2 administrative officers.
• Responsible for the preparation of the annual budget, budget reviews, business plans and financial forecasts in coordination with divisional and departmental managers.
• Supervise and assist in the preparation of project costs to ensure that the costs are in line with the budget.
• Prepare revenue vs expenses comparatives with budgeted figures to ensure accuracy and compliance while investigating the variances to take necessary actions.
• Manage the preparation of monthly, quarterly & yearly financial forecasts and present the results to the CEO.
• Responsible for an accurate and timely closing of months and years in complying with applicable IFRS while ensuring all accounting entries are supported with valid documents.
• Responsible for reviewing the accounting entries for expenditures allocation for projects (Project cost code) while ensuring the completeness, accuracy and timeliness of accounting reports.
• Prepare and review the monthly bank reconciliations for all companies
• Coordinate the external audit for consolidated and standalone financials of the Group and Subsidiaries.
• Coordinating with local banks to get banking facilities to ensure smooth conduct of the projects by facilitating with facilities such as LG’s & LC’s.
• Coordinate with divisional managers and subordinates for the preparation and timely summation of Revenue/Income invoices in order to manage the Cash Flow.
• Ensure the timely collection of receivables by monitoring aging to ensure a healthy cash flow while maintaining a good relationship with customers.
• Ensuring that the accounts payables are processed on a timely basis in an accurate and efficient manner.
• Implement controls to ensure the proper calculation of payroll while considering the proper reimbursements and deductions.
• Identify financial problems and provide solutions.
• Develop business plans and financial impact analyses for new projects. Identify risks and opportunities, understanding base assumptions for strategic growth of the departments.
• Leading a team of 3 Accountants. 1 Sr. Accountant 1 Clerk/Cashiers.
• Direct and manage day-to-day financial operations, including budgeting, cash flow management, and financial analysis, ensuring optimal financial performance and adherence to financial regulations.
• Successfully liaise with banks to secure credit facilities, such as letters of credit, advance guarantees, and performance bonds, facilitating smooth funding for various projects.
• Implement robust systems and procedures for cost allocation, enabling accurate tracking and allocation of costs to specific projects and job orders.
• Prepare comprehensive financial and regulatory reports for submission to regulatory bodies and boards of directors, ensuring compliance with industry standards.
• Proactively produce monthly and periodic management accounts, along with ad hoc reports, to provide valuable financial insights and support strategic decision-making.
• Coordinate and collaborate with external auditors for seamless semi-annual and yearly audits, maintaining accurate financial records and facilitating smooth audit processes.
• Maintain strict control over accounts payables and receivables by diligently monitoring monthly aging reports, ensuring timely payments and collections.
• Foster effective communication and collaboration with branches in UAE, Cairo, and Qatar site offices to implement proper financial controls and ensure timely delivery of shipments.
• Engage with stockholders and prospective investors, collecting and providing essential financial information to support capital raising initiatives.
• Successfully negotiate insurance agreements and diligently select insurance brokers and carriers to mitigate risks and safeguard the organization's assets.
• Lead a team of 7 professionals, including accountants, administrative staff, and officers, promoting a collaborative work environment and achieving departmental objectives.
• Effectively managed daily financial transactions, including accounts payable/receivable, general ledger, and bank reconciliations.
• Oversaw various transactions, such as 'Sift Wire Transfer, ' 'Qatar Central Bank deposits, ' 'Internal Fund Transfers, ' 'Local Checks, ' and 'Fund Deposits.'
• Monitored and updated monthly asset purchases, ensuring accurate depreciation and amortization entries.
• Participated in tax reports preparation and monthly tax declarations to ensure compliance with regulatory requirements.
• Conducted monthly reconciliations for Capital Expenses, Security Deposit, Sundry Debtors, Accounts Receivable, and Retention Money on Projects, coordinating with Reconciliation Section for outstanding items.
• Validated the payroll process and staff entitlements, ensuring accuracy and adherence to company policies.
• Reviewed new contracts and verified payment terms and financial conditions before obtaining approval from management authorized signatories.
• Coordinated and reviewed insurance contract renewals, ensuring adequate coverage for bank assets and properties, as well as health insurance for bank employees.
• Verified approvals for expenditure payments in branches, ensuring compliance with budgetary constraints.
• Administered and processed bank staff benefits payments in alignment with the Bank's policy and employment contracts, collaborating with the Human Resources Department.
• Worked closely with internal and external auditors during financial and operational audits, ensuring the accuracy and completeness of customer accounts details.
• Prepared periodic reports, including shareholders' dividends and provisions, as well as explanatory reports required by the Board of Directors.
• Developed and delivered quarterly budget reports, providing presentations in both English and Arabic.
• Led a team of 2 clerks and 3 accountants, fostering a collaborative and motivated work environment.
• Responsible for the preparation of the accounts payable and receivables and analyzing the aging report to ensure timely payments and collections.
• Coordinated various bank transactions, including LC's, LG’s, deposits, payments, and reconciliations, ensuring accuracy and adherence to financial regulations.
• Prepared financial analysis reports, cash flow statements, and expenditure reports to assist management in decision-making processes.
• Implemented effective cost control measures, monitoring project costs, and ensuring compliance with project budgets and Bill of Quantities (BOQ).
• Handled depreciation calculations for fixed assets and amortization for intangible assets to accurately reflect the company's financial position.
• Tracked subcontractor contracts, including payment certificates and project completion percentages, ensuring timely payments and project progress evaluations.
• Collaborated with external auditors, providing necessary details and support to facilitate the completion and issuance of financial statements.
• Prepared and reviewed monthly journal entries and account reconciliations, maintaining accuracy in financial records.
• Conducted variance reviews of Selling, General, and Administrative (SGA) expenses and other company costs, identifying root causes and implementing action plans for improvement.
• Managed payroll processes, including preparing payroll reports and processing leave applications for employees.
• Played a pivotal role in process improvements and process documentation throughout the accounting cycle.
• Ensured accurate review, verification, and processing of subcontractor and general condition-related payments for assigned projects.
• Communicated effectively with project teams, vendors, subcontractors, and external parties to address job cost requests and contract-related requirements.
• Led a team of 2 accountants and 1 cashier, providing guidance and support for optimal performance.
• Maintained daily and monthly job order costing reports, closely monitoring production costs and material sourcing for customer/client orders.
• Implemented job order costing sheets for each order, categorizing expenses into direct material, direct labor, and manufacturing overhead to effectively track expenses.
• Consolidated and analyzed financial data, ensuring alignment with the company's financial performance targets and objectives.
• Supported the team by conducting comprehensive studies on previous, future, and comparative performance, identifying trends, and developing forecast models for informed decision-making.
• Determined accurate and competitive pricing strategies, considering product objectives and market dynamics.
• Established and maintained inventory accounting controls at the factory level, introducing special programs for daily reporting to promptly address and correct problem situations.
• Conducted internal audits for inventory movement and stock balances at the end of each accounting period, ensuring accuracy and compliance with company policies.
• Conducted special studies and analyses as requested by factories or division management, providing valuable insights to enhance operational efficiency.
• Managed various accounting tasks, including payroll, sales invoicing, accounts receivable, accounts payable, and stock control.
• Handled bank transactions, including guarantees and reconciliations, as well as applications for tenders, LCs/LG, collections deposit and clearing payments.
• Prepared comprehensive financial reports, including the trial balance, income statement, cash flow statement, and balance sheet.
Bachelor of Economics and Administrative Sciences in Accounting.
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