Finance Manager
FCA Fiat Chrysler Automobiles (for Iraq operations)
Total years of experience :29 years, 9 Months
• Managing Iraq dealership operations
• Monitor and direct the implementation of strategic business plans
• Develop financial and tax strategies
• Manage the capital request and budgeting processes
• Develop performance measures that support the company's strategic direction.
• Drive the Group’s financial planning
• Participate in key decisions as a member of the executive management team
• Maintain in-depth relations with all members of the management team
• Manage the accounting, investor relations, legal, tax, and treasury departments
• Oversee the financial operations of subsidiary companies and foreign operations
• Oversee the company's transaction processing systems
• Implement operational best practices
• Supervise acquisition due diligence and negotiate acquisitions and partnership
• Train the Finance Unit and other staff on raising awareness and knowledge of financial management matters.
• Oversee the maintenance of the inventory of all fixed assets, including assets purchased
• Work with the CEO on the strategic vision including fostering and cultivating stakeholder relationships on all levels, as well as assisting in the development and negotiation of contracts.
• Oversee the issuance of monthly reports including reconciliations with funders and pension plan requirements, as well as financial statements and cash flow projections
• Understand and mitigate key elements of the company's risk profile
• Monitor all open legal issues involving the company, and legal issues affecting the industry
• Construct and monitor reliable control systems
• Maintain appropriate insurance coverage
• Ensure that the company complies with all legal and regulatory requirements
• Ensure that record keeping meets the requirements of auditors and government agencies
• Maintain relations with external auditors and investigate their findings and recommendations
• Decide on investment strategies by considering cash and liquidity risks
• Sets department long and short term objectives and business plans, and communicates them to the subordinates to ensure high quality achievement of the goals in a cost effective and efficient manner.
• Maintain a very good relation with the all internal and external banks to ensure providing the best financial services with the lowest cost. As well as a good connection with the insurance companies.
• Forecast cash flow positions, related borrowing needs, and available funds for investment.
• Set up the necessary systems and procedures to provide the necessary inter¬nal control.
• Ensure that sufficient funds are available to meet ongoing operational and capital investment requirements.
• Use hedging to mitigate financial risks related to the interest rates on the company's borrowings, as well as on its foreign exchange positions.
• Liaise with the external auditors “PWC” audit and review annual financial reports, in accordance with the IFRS.
• Trains, motivates, evaluates and develops the department staff to ensure the achievement of company's objectives.
• Ensures annual budgets are prepared in line with corporate strategic objectives and annual plans.
• Develops and communicates financial Key Performance Indicators (KPIs) and prepares annual financial reports.
• Coordinates between external auditors and Audit Committee for the external audit.
• Supervises the activities of subordinates to ensure their effectiveness and compliance with set standards as well as the company's approved policies and procedures.
• Manages tax optimization issues and advises Management on necessary actions and/or adjustments.
• Engage in ongoing cost reduction analyses in all areas of the company.
• Assist in the determination of product pricing in relation to features offered and competitor pricing.
• Review the performance of competitors and report on key issues to management.
• Involve in benchmarking studies to establish areas of potential operational improvement.
• Ensures that CIC's taxation policies and practices are consistent with local governmental laws and regulations.
• Establish an Internal Audit department with overall responsibility in a compliance with the internal audit standards.
• Evaluate system of internal control, effectiveness of governance processes, and report any weaknesses observed to the BOD and CEO.
• Appraise risk management strategy and framework.
• Manage the audit team all around the company’s branches in Kurdistan region as well as Baghdad and Basra.
• Liaise with the external auditors “Ernst &Young” and review annual reports prior the submission, in accordance with the IFRS (International Financial Reporting Standard).
• Supervise all KPI’s reports concerning operation activity.
• Participating with the CEO and other departments in preparing the yearly projected budget.
• Monitor all financial, liquidity, turnover ratio.
• Analysis all financial reports on a daily, weekly, monthly and quarterly basis.
• Auditing the monthly reconciliations of the banks accounts and control all bank expanses and LCs interest and charges.
• Review cash management reports including:
1- Quarterly, yearly operation budget and identify the variances.
2- Cash follow projection reports.
3- Treasury management.
4- Inhouse financing through the group and sister companies.
• Evaluate and asses HR department reports concerning:
1- Employee’s smart objective.
2- Labor turnover rate.
3- HR KPI’s.
• Review the annual tax report.
• Assess the annual inventory movement reports to monitor the slow movement and dead stock categories in order to lead and drive changes.
• Conduct audits risk strategies and risk assessments.
• Coordinate with the accounting manager to develop internal regulations.
• Supervise the accounting and financial statements of the company.
• Review and make recommendations on accounting processes and systems.
• Operational performance and compliance with the adopted policies and procedures of the company.
• Ensure that the statues, strategy, resources of the internal audit function are aligned and are consistent with the organization's objectives and governance policy.
• Evaluate information security and associated risk exposures as well as regulatory compliance with consultation from legal counsel.
• Raise the recommended corrective actions regarding non-conformities.
• Communicate and present the results of internal audit to the Board of Directors and CEO.
a) Assist the Managing Director in all Financial and Administrative issues and act as MD during his absence.
b) Supervise the departments of Finance, accounting, Administration, logistics & governmental relationships.
c) Act as a representative of the company in dealing with local & external banks & insurance companies.
d) Set up the necessary systems and procedures to provide the necessary inter¬nal control.
e) Prepare business plan, budget, cash flow & monthly performance reports to general Motors.
f) Review the quarterly & yearly financial statements.
g) Present training courses on related subjects to staff functions.
h) Liaise with the external auditors in auditing all financial records "Deloitte& Touche" in accordance with the I.F.R.S ( International financial Reporting Standards)
i) Auditing all KPI’s reports required by G.M Head office
j) Preparing the final financial statements.
k) Ensure that budgets are kept, financial goals are met.
l) Prepare the Spare parts movement reports to monitor the slow movement and dead stock categories in order to lead and drive changes through the spare parts management.
A) Responsible for a team of accountants with over all responsibility in managing all financial transaction and journal entries.
B) Ensure conformity with all company policies & procedures.
C) Preparing all the below KPI’s reports required by G.M Head office, concerning the activity of :
• Spare parts Department: K.P.I Report (Key Performance Indicator), to measure the spare parts sales, gross profit, inventory turn over
• Work Shop Department T.P.R Report (Technician Performance Report) to measure the Labor activity (Productivity, Efficiency, Utilizations) comparing with GM standard.
• Vehicle Department: D.O.R Report (Dealer operation report), to measure the department operating, profitability, sales and gross profit analysis, Leasing and rental activity.
D) Responsible for the monthly payroll of over 90 persons in both Damascus and Homs branches.
E) Manage the changes through the business within the KPI’s reports result.
F) Preparing the Monthly Income statement showing the net operation income per the period, in order to prepare the monthly consolidations financial statement with the holding company in UAE (Sister Company).
G) Preparing the weekly cash position for all treasury accounts.
H) Participating with the other departments in preparing the yearly projected budget.
I) Preparing the Monthly report for the earned interest for the installment sales.
J) Re-calculated the monthly debit interest registered by the banks for the overdrafts accounts ( either for internal and external accounts)
K) Liaise with foreign experts, concerning the company reports and budget.
L) Responsible in managing the accounts of eight main dealers, with the total turn over of five million dollars.
M) Preparing the cost analyses report for the monthly purchasing, to reduce the cost by the maximum.
N) Auditing the monthly reconciliations of accounts with the Banks statements.
O) Preparing the interim confirmation of accounts with the all venders and receivable
Title: Barcode and Swap Coordinator: for Syriatel fixed assets through all Technical sites and the company location.
Duties and responsibilities: p) In Charge of a team of employees with over all responsibility in managing inventory and fixed assets.
q) Improving procedures and managing more than 15000 fixed assets items (GSM equipments, IT Equipments, Furniture.)
r) Custodial management: allocating and monitoring and recovering assets allocated to each employee (one thousand two hundreds employees)
s) Track movements between technical sites and update the cost center of each location (the average value of the equipments of each of the 1100 sites is around $ 175 000), the total value of the company's fixed assets is US $ 315 771 388 as of 31-12-2004 balance sheet.
t) Prepare monthly reports on assets managements, and updating the inventory and cost center of each site.
- HABI Tex Factory for exporting cotton goods: From 18.06.2003 until 13.05.2004.
Title: Deputy Head Finance Officer, Head of accountancy of costs and materials.
Duties and responsibilities: a) Managing the team of the four warehouses of raw materials and finished goods.
b) Calculating and analyzing the unit cost of products, the cost flow, and the avoidable cost, through the job order & process cost system.
c) Managing the inventory in the warehouses with the total value of over one million US $.
d) Studying and tracking the bottleneck points, and create effective ways to avoid it.
- Modern Technology Trading Company: From 17.05.1996 to 17.06.2003
Title: Chief Accountant.
This company is the Agent of NISSAN, SUBARU Japanese vehicles, PROTON Malaysian vehicles and HITACHI Japanese company for home appliances.
Duties and responsibilities: a) Responsible for the team of twelve persons in the accountant department.
b) Responsible for the monthly payroll of 45 persons.
c) Preparing the final accounting statements.
d) Liaise with external auditors in auditing all financial records.
e) Calculating the cost of imported goods and analyzing the breakdown of their cost.
f) Preparing the yearly income taxes report and the yearly financial report of the company.
g) Following up all the clearing procedures for the imported goods through the custom department.
Delta Electronics: From 01.03.1994 to 15.05.1996.
Title: Accountant.
This company is specialized in importing telephone exchanges (Siemens) and selling them to the Governmental sector, foreign companies and Embassies.
Duties and responsibilities:
a) Managing the account of each governmental contract, and calculating it's expenses, taxes, income, and it's net profit.
b) Following up the clearing procedures for customs exempt companies and embassies.
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Have a Certificate of Certified Accountant (ASCA).
BA. In Economics, Accountancy Damascus University 1997.