Group Commercial & Finance Controller
AlMansoori Petroleum Services
Total years of experience :34 years, 11 Months
Leading UAE company in oilfield service sector providing Well testing and related services. The company is providing servicing in UAE, Oman, Saudi Arabia, Egypt, Libya, Yemen, Tanzania and Bangladesh.
June 2010 - Present (promoted to the position of Financial Controller (in June 2010) and Group Commercial & Finance Controller (in May 2013), implying responsibility over all service group companies)
- Directly reporting to the CEO and simultaneously co-ordinate with the CFO to operationalize appropriate financial policy frameworks to assist in strategic decision-making
- Work with individual Business Unit Leaders to prepare Business Plans and Annual Budgets
- Continuously evaluate business activities to identify opportunities to drive business growth through new market penetration
- Participate in the Tendering process and develop pricing strategies with Business Unit Leaders
- Source / Deal with banks for financing facilities (for working capital requirements as well as Project financing)
- Lead development of CEO-board presentations, including critical components such as consolidation of accounts as per International Financial Reporting Standards
- Coordinate the preparation of financial statements and information reports by Business Unit Finance Heads
- Guide Business Unit Finance Heads in managing working capital and cash flow
- Oversee the financial management of foreign operations and implement financial policies and procedures.
- Monitor the Receivable positions on a weekly basis
- Review / Control Capital (Equipment) Purchase Requests and analyze related Projects for Return on Investment
- Evaluate all the cost parameters of each Business Unit and continuously attempt to discern possible cost reductions
- Develop workflow to reduce paperwork and promote a paperless environment via IT solutions
- Worked on Data security and defining corporate procedures for controlling IT functions across business units
- Dealt with Consultants and Due Diligence auditors to look for investor to fund the company expansion / divestment of current holding
- Preparing IPO related Business Plan and other procedural requirements of Corporate Governance
April 2006 - June 2010 (worked as Business Unit Finance Head for one of the Business Units)
- Managed the Accounts, Finance, Tenders and Administration departments
- Prepared monthly Financial Reports and analyzed the same against the Budget
- Prepared pricing analyses for Tenders, prior to discussion with the Business Unit Manager, CFO and CEO
- Conducted Return On Investment analyses for Capital (Equipment) Purchases (prior to submission for board approval)
- Tracked the actual performance of each Project against proposed Budget / Business Plans
- Monitored and managed the daily cash position
- Reviewed the Tender contractual terms, and conditions and negotiated of Contract awards
- Negotiated with Suppliers for pricing and payment terms
- Liaised with External and Internal Auditors during the Audit process
- Responsible for the implementation of ERP software
100% locally owned UAE based company, specializing in managing the investments of its private shareholders
- Reported to the Managing Director, providing support in the implementation of corporate procedures and systems
- Evaluated daily stock movements at the Dubai and Abu Dhabi Stock Exchanges to identify buying / selling strategies
- Restructured the accounting system and provided training to accounting staff in order to improve financial accounting and reporting
- Monitored and guided the accounting department for monthly reports, prior to board presentations
- Prepared feasibility study reports for making investment decisions in international exchanges such as NYSE
- Managed joint venture operations, as well as guided the marketing/sales team in achieving sales targets
- Applied for financing facilities for working capital purposes and Project financing
- Coordinated with Finance Houses and reviewed the investment choices on offer
Canadian Group of Companies engaged in Metals-trading across Canada, USA, Europe and India.
- Reported to the President of the Group, supporting the management of accounts and finance
- Worked with existing as well as new banks to obtain any new credit facility requirements
- Prepared forecasts/projections for submission to the bank
- Liaised with banks on a daily basis in order to administer credit facilities and monitor fund utilization
- Prepared detailed analyses for tax/payroll audits
- Correlated with external auditors for the annual audit
- Prepared the daily hedging and commission report for commodities traded via the Metal Exchange
- Communicated with overseas customers for collection follow ups
- Consolidation of the accounting statements of the various group entities
Business Process Improvements:
- Worked with one of the largest printing press in the Middle East as a key in-charge of finance and MIS departments.
- Worked towards an effective financing ie. credit control, inventory management, feasibility analysis, budget preparation and regular activities like managing funds flow, evaluation of financial ratios.
Production Management:
- Implemented effective company-wide production control system. Developed detailed job costing process, employee productivity analysis, machine utilization and waste reduction efforts.
- Coordinated detailed activities such as resolving material availability issues with Material Management Group and monitoring purchased parts with Receiving Quality Assurance Group.
Cost reduction efforts:
- Sought and reviewed detailed supplier cost structures including supplier selection, production and process capability evaluation.
Quality Control Systems:
- Led the implementation of ISO 9002 certification effort as a Management Representative. During the process of implementation, effectively utilized techniques to comply with ISO regulations and guidelines on the shop floor as well as office management level.
- Comprehensive experience with various facets of ISO certification process such as design and documentation requirements.
Systems Development:
- Worked on Informix 4GL (Unix platform). Involved from the grass root stages of defining systems specs to systems programmers and follow up during designing, testing and implementation stage to ensure completeness of the system.
Worked as management trainee for hands on exposure to manufacturing industry.
