Group Chief Financial Officer
Ritaj Investment / Holding Group
مجموع سنوات الخبرة :28 years, 5 أشهر
Perform key functions which involve financial and managerial accounting, investments, operation, business support, and debt restructuring
Directly report to the chief executive officer, chairman, and Board of Directors
Manage company accounting practices encompassing accounting department oversight, budget preparation, financial reporting, as well as tax and audit functions
Administer business investments and fundraising along with feasibility study
Apply strategic approach in evaluating and reporting on trends, opportunities for expansion, and future company growth projection
Fulfill multiple roles including investment and credit valuation committee executive member, secretary of board of director, as well as financial consultant
Formulate budgeting procedures and reporting process for parent, subsidiaries and associates
Assess and streamline policies and procedures manual for best practice of business flow, controls, capital market and Central Bank of Kuwait requirements for the group
Managed the execution of corporate resolution and amendments requirements by capital market authority as project manager
Career Highlights:
Successfully created the Triple R strategy which helped with the following initiatives:
- Restructured credit facilities at Egypt two subsidiaries influenced 13 million EGP saving
- Rationalized cost at Egypt two subsidiaries gained 32 million EGP.
- Reviewed portfolio of products and sales mix by sectors increased profit margin by 13% overall products.
- Restructuring of Wakala payables realized gain by K.D. 720k. as a debt discount;
- Asset swap against debt Wakala that realized K.D. 120k. gain on swapped assets; and
- Rationalization of asset swap against debt Wakala that realized K.D. 120k. gain on swapped assets
Promotion History
Acting CEO (delegated by Barwa Bank for 6 months )
CFO and COO in-charge of Operation Department
CFO
Due diligence team leader assignment for Barwa Bank acquisition and coordinated for listing prospectus
Developed financial strategies and provided support in the creation of business strategies
Collaboratively worked with the CEO and vice chairman to promote the company’s vision and mission
Performed key responsibilities encompassing handling financial strategy, business investments, & fundraising
Keenly reviewed various opportunities for expansion as well as created new methodologies in evaluating staff performance
Made use of cost center technique in budget and performance reporting
Maintained active communication with president, vice president of sales, and department executives
Functioned as head of assets liabilities committee and member of steering committee for the software selection, credit committee, non-performing debts committee and investment committee
Career Highlights:
Served as driving force in the successful re-modification of the Financial Control Department into sections
Spearhead operational practices, such as ECC system and central bank reporting
Drove efforts in decreasing provisions by QAR 600M and increasing collection of Non-Performing Loans by 23% through the development and delivery of the Electronic Check Clearing System project in conjunction with Qatar National Bank
Played an integral role in executing new tool for collection of point-of-sale debit and credit card, which significantly optimized collection by 9%
Succeeded in maintaining QAR 400M securitization transactions with Qatar Central Bank
Accomplished a Syndicated loan by USD 100 million
Earned letter of recommendation from senior management in 2011 for demonstrating exceptional performance
Promotion Histroy:
2008 Senior Financial Controller for The Holding Group
2007 Financial Controller
2006 Financial Manager
2005 Chief Accountant
2004 Group Supervisor
Headed the creation and interpretation of managerial financial reports
Tracked all operational and accounting functions and maintained standards
Took full charge of issuing and upholding 27 centralized services subsidiaries; preparing projections, budgets, and report variances; as well as producing new product for Wethaq Insurance Company
Carried out Purchase Price Allocation assignments in cooperation with E & Y London and PwC Kuwait
Held accountability in strategizing policies and procedures; determining weak performance/control areas, and offering recommendations to mitigate associated risks
Led all daily activities related to general accounting, staff supervision, and communication involving other department heads
Employed keen attention to detail in collecting audit and review financial information for the group
Career Highlights:
Played an integral role as project champion for the Oracle 11i Financial Implementation
Made substantial contributions in dividends scenarios “dividends in kind” and realized KD 22million net profit from dividends.
Project member of Austin Martin Acquisition
Earned letter of recommendation from senior management in 2006 for demonstrating exceptional performance
A consulting firm that performs business advisory and assurance services worldwide. It is one of the big 4 firms worldwide.
Experience Senior (External Auditor)
Responsibilities
•• Planned, led, and coordinated the audit engagements of various sizes, industries, and complexity.
• Understand the business; identified, sourced, and prioritized all anticipated business risks.
• Assessed the internal control effectiveness level.
• Determined the materiality for the engagement based on the planning.
• Designed appropriate procedures and audit programs to minimize the risk to an acceptable level.
• Maintained a business performance review via analytical procedures (financial ratios understand variances against benchmarks), developed hypotheses when required and broke down broad-based problems into their essentials.
• Ensured proper application of IFRS and compliance with regulatory associations such as the Ministry of Commerce, Stock Exchange, and Central Bank.
• Maintained the presentation of the management letter to top management and performed problem-solving techniques.
• In charge of Kuwait airways audit team.
A consulting firm that performed business advisory and assurance services worldwide; merged with Ernst & Young in 2001.
Experience Staff (External Auditor)
Responsibilities
• Performed external & internal audit planning.
• Assessed internal control effectiveness.
• Performed test of control.
• Performed substantive tests.
• Prepared the audit files, financial statements, and management letter.
• Supervised two staff level.
Americana company is Egyptian shareholding company listed at ESE. It is jointly investment between Kuwaiti partner and Egyptian partner. It has many subsidiaries, mainly manufacturing and agriculture companies that serve and supply the main office in Egypt & Kuwait.
Managerial Accountant (Planning & Controlling Department)
Responsibilities
- Prepared the budget for local restaurants.
- Prepared the performance reports to Pepsi Co. Int. in Dubai.
Grant Thornton is a consulting firm that perfomes business advisory and assurance services world wide. It is considered one of the biggest audit firms worldwide.
Auditor (External Audit - Banking Group)
Responsibilities
- Reviewed credit process (worked on United Bank issue)
- Ensured complying of credit requirments and Central Bank Regulation.
- Reviewed credit process (worked on United Bank issue).
- Ensured complying of credit requirments and Central Bank Regulation.
June 1993 - Sep. 1993
Yousef Al-Kadi auditing firm is a local auditing firm specialized in tax services and external audit.
Summer Training
Trainee at external audit Dep.
Trainee at external audit Dep.
Certified Financial Consultant
Exit with a Diploma Degree 2013
1992 - 1996 Ain Shams University, Egypt Faculty of Commerce Bachelor of Commerce Major: Accounting. Grade: Good