Chief Financial Officer (CFO)
Paxxal Inc.
Total years of experience :21 years, 3 Months
Value Added: successfully developed financial planning process & Systems, including the introduction of budgeting, forecasting, variance analysis. Dexterously managed the Credit line Exposure with Banks and credit entities, budgetary control including analysis of sales budget, targets, achievements and variances. Directed all corporate departmental purchasing functions including strategic planning, project deployment and auditing, managing senior level projects related to finance, budgeting, account management. Managing legal and Human Resources matters. Leaded SAP FIORI project in which successfully implemented, training the staff on the new; Developed Financial Model and business plan for our USA barge rental and KIZAD Manufacturing Plant.
Key Deliverable:
Strategic Support: Analyzing profitable opportunities and reworking the business models to achieve organizational and growth objectives. Developing and implementing controls and processes. Formulating realistic plans to foster commercial innovation programs to sustain and accelerate the future growth of organizational initiatives
Budgeting: Designing an effective and realistic annual plan, involving detailed monthly budgets for all line items, using a zero-based approach, prepared monthly cash flow and profitability projections
Finance & Accounts Management: Providing direction to all financial operations (company, project and subsidiary) to provide accurate & timely corporate financial data, to maximize cash &assets and to implement accounting systems. Supervising the execution of accounts receivable, accounts payable, bank reconciliation and independent audits while ensuring financial statements compliance as per the internal policy and external regulation. Restructured finance department, solving all pending problems such as issuing of the FS, activating the ERP system, Tax & Zakat filing and bank facilities, etc.
Business Advisory Services: Rendering Business Advisory Services, exploring profitable opportunities and reworking the business / finance models to achieve organizational and growth objectives
Statutory & Compliance Management: responsible for monitoring changing legislation, codes, etc. and taking timely action to protect group interests; obtaining updates from Regulatory Agencies, market place regarding changes to laws, regulations, and rulings; disseminating related information to relevant departments for implementation
Liaison & Coordination: Coordinating activities related to managing major business variances with relevant business functions. Interact with bankers, auditors, customers and suppliers based on business as well as operational requirements.
Team Management: Developing team on on-going basis, including but not limited to professional development, performance planning and management, etc. Guiding team in preparation of financial statements as well as reviewing and making improvements and making presentations for board of directors
Value Added: Instrumentally evangelized the transformation of Business & Financial outlook drove business commercials and growth strategies. Designed and developed short term & long term business plan and annual budget; defining and implementing business plans encompassing annual business plans, business forecasts and interpreting financial results.Constantly monitors operating costs to determine where savings can take effect, Provides expert analysis on all matters of potential financial impact under relevant business activities particularly in costing, profitability, product lines evaluation, cash generations and ideal utilization of funds.
Key Deliverable:
Established and implemented short, medium and long ranged departmental goals, objectives, policies and operating procedures. Interacted with other managers to provide consultative support to planning initiatives through financial and management information analysis, reports and recommendations.
Worked as financial controller/in-charge of 4 companies (Contracting / Labs & NDT / Industrial Security Services/ Core lab) involving in supervising the day-to-day activities of the finance team. Ensured that appropriate systems and internal controls are implemented and maintained along with management of cash &treasury, monthly consolidated P&L and balance sheet
Value Added: Spearheaded financial systems, planning, investor relations contract negotiations, reporting, financial controls, strategic planning, managing Bank (Credit facilities & Investments) . Worked on SAGE ERP implementation project in which successfully implemented.
Key Deliverable:
Started career as Accounting Manager and Acting Finance Manager, directed accounting functions for a big Diversified Multi business lines company.
Directed and guided a team of 12 accountants and oversee financial analysis, financial audits, G/L, A/R, I/C, PJC, Banks, A/P and fixed-asset accounting in accordance with SOCPA standards
Accountable for developing and managing external financial relationships (e.g., banks, insurers, auditors) and derived ways to strengthen overall financial performance
In charge with planning auditing processes, assigning tasks to junior staff, conducting risk assessments, submitting reports to audit managers, and finding ways to increase compliance.
Identify and communicate potential issues and opportunities for audit efficiencies and process improvement to Managers and Partners.
Supervise Audit Associates and Interns on engagements and providing coaching, timely feedback, and reviewing their audit documentation.
Planned efficient audits resulting in 10% reduction of audit cost.
