Finance Director
ARKAZ Al sharq (ARKAZ) one of Khalid Al turki Holding group
Total years of experience :26 years, 1 Months
Finance & Strategy
- Manage financial planning activities including the development of capital finance strategy and implementation plan.
-Develop financial forecasts based on the strategic and business plans.
-Working with CFO and FC of the Holding Co. in the creation and development of corporate financial policies, processes and procedures.
-Review detailed financial due diligence for proposed partnerships, and filter most suitable opportunities.
-Provide all divisions the proper support from a financial perspective in order to ensure more financial control and alignment between all team.
-Provide executive management with advice on the financial implications of business activities.
- Maintain the working capital cycle days in healthy level.
Budgeting & Forecasting
-Oversee the Preparation of quarterly forecast (3+9), (6+6) and (9+3).
-Manage the Preparation of annual budget for next year.
-Manage the preparation of Balanced Business Plan (BBP) for coming years.
-Prepare the department budgets in coordination with the individual departments.
-Participate with sales head estimating of proposal business case.
-Participate with high management putting the 2025 strategy.
General Accounting
-Supervising the accounting and finance team, ensure the team is geared towards providing the necessary support; actively mentor and develop the team members.
- Oversee the accounting department to ensure proper maintenance of all accounting systems and function (ERP Microsoft dynamics AX ).
-Direct the execution of all accounting activities to ensure that all financial transactions are treated in an appropriate manner according to internal and statutory controls and financial information is made available in an accurate and timely manner.
External, Internal Audit, tax, Zaka and Legal affaires
-Coordinate and lead the annual audit process, liaise with external auditors and assess any changes necessary and implement these after approval from Executive Committee.
-Manage the Computation and Filing of regular Income Tax, withholding tax and Zakat Tax with local authorities.
-Ensure that the company’s tax returns and reports are filed in a timely manner and that tax and zakat payments are made within the stipulated time.
-Liaise with Legal department for any payment failure case or any related case.
- Manage the implementation of VAT in 2018 from IT and Accounting perspective.
Management Accounting & Reporting
-Oversee the Preparation of weekly flash reports.
-Prepare the monthly financials presentation for Executive committee.
-Manage and keep expenses within budget.
Treasury & Credit Control
-Develop and manage the cash management cycle and manage credit control, including all cash-in/cash-out activities and borrowings, and implement controls and internal procedures for credit control and treasury, in order to guarantee an effective short-term working capital cycle days management.
-Liaise with banks to identify, source and negotiate appropriate financing schemes.
Human Capital Management
-Support HR department on establishment of payroll procedures and appraise them of the various payroll compliance requirements (social security, tax etc) and of all employees’ compensation.
-Acting Managing Director, in order to maintain the stability, strategies of the company and the relationship among managements during MD absence.
-Reporting to executive VP required financial reports .
-Planning and managing on going projects from financial perspective.
-Produce monthly financial statements & cash flow in accordance to Company requirements, polices, and GAAP standards in a timely manner.
-Maintain integrity of Accounting system (software), ensuring it remains effective and operational at all times.
- overseeing and approve preparing the cheques or Bank transfers for overseas and local suppliers according to the agreed payment terms.
-Review, discuss and produce year-end trail balance for holding, subsidiaries and sisters companies.
-Manege relationships with banks, external Auditors, suppliers and clients from financial point of view .
-Dealing with Banks Trade Finance Operation departments related to Letter of Credit and Preliminary Bank Guarantees.
-Monitoring, updating and preparing weekly cash position.
- Filing the zakat returns in a timely manner, the zakah certification issuing.
- Assets in the contractors classification certificate .
- Budget preparation and budgetary control for divisions & departments within the company.
- Managing banks facilities and exploring new sources structure of finance to optimize profit & reduce risk.
-developing financial management mechanisms that minimize financial risk.
-working with various departments of the business to help them plan their budgets.
-Manage cash flow of the company to maintain healthy liquidity position.
• Overseeing the daily accounting activities required to maintain the company's general ledger.
• Supervising, directing and reviewing the work of the accounting staff (including, but not limited to, bank reconciliations, accounts receivable transactions, fixed asset activity, payroll, accounts payable transactions, recording of revenue and expenses, etc.
• Cash management activities
• Maintaining organized set of detailed records and files to document financial transactions.
• Reviewing general ledger on a monthly basis to ensure accuracy of posting.
• Coordinating monthly, quarterly, and annual closing activities.
• Preparing monthly, quarterly and annual financial statements and ad hoc financial reports.
• Developing and managing annual budgets and forecasts.
• Developing and managing the financial accounting, monitoring and reporting systems.
• Recommending and implementing improvements to the accounting processes and procedures.
• Developing external relationships with appropriate contacts, e.g. auditors, lawyers, bankers, etc.
• Liaising with senior management and other colleagues
• Controlling income and expenditure as well as monitoring and interpreting cash flows and forecasting future trends
• Conducting financial reviews and evaluations
- Follow the movement of accounts receivable (debit and credit) and make adjustments after the approval.
- Closing out the procurement advance and be sure from the validation of invoices and it is approved by the administration.
- Review lists of wages and salaries and be sure that its right before the exchange.
- Preparing daily records for all types of accounts.
- Entering the daily records on accounting program.
- Preparing the annual, half-yearly and quarterly financial reports.
- Preparing the final accounts and financial statements of the company.
- Monthly and yearly closing performing taking into consideration the adjustments, balances confirmation & functional external audit.
Satisfactorily passed the examinations of the Arab Society of Certified Accountants at the November session 2000, Currently I hold (ACPA) as an Arab Certified Public Accountant science (April 2003) , approved by Arab League .
B Com degree in Accounting by the Faculty of ECON & ADMIN, SCIENCES.