Wael Al-Hassan

Chief Financial Officer CFO at Al-Wazzan Industries

• Kuwait - Al Kuwait
• My current job since March 2019

Finance Manager / Director at Compass Business Incubators

• Kuwait - Al Kuwait
• My current job since January 2018

 Mentoring and guiding to make strategic plan for the financial futures.
 Facilitate the development of a strategic business plan for the business, which includes long-term developments, investments & projects.
 Re-forecasts profit expectations with the management accounts team to highlight most-probable performance on a periodic basis.
 Assess performance results for accuracy & use information to interpret & build models for future performance.
 Provide employees in the department with a work environment that is open and conducive to sustained high performance.
 Provide strategic support and direction to one’s subordinates in managing their performance by providing appropriate feedback and counselling
 Implemented the company's infrastructure and financial and administrative skills.
 Analyzed costing elements and provide the training for work team.
 Analyzed pricing model and implemented pricing policy and flexibility.
 Implemented the finance and accounting control policy and supervised the compliance.

Key achievement

 Effectively completed feasibility analysis for SMES, resulting receiving approval from KNF for projects financing with amount of KD 5.7 M.

 Implemented rescue-plan and business re-structure and train for some borrowers from Kuwait National Fund authority, those accounts are SMES subjected to Kuwait national fund authority.

 Maximizing profit by strengthening institutions in the areas of revenue and expenditure management.

CFO at Global Azure for General Trading & Contracting

• Kuwait - Al Kuwait
• January 2014 to January 2018

 Implemented and enforced appropriate financial policies and procedures.
 Managed outsourced functions such as: IT, HR, Legal and insurance.
 Analyzed risk management activities through company functions accounting, audit, and treasury) and understanding the risks and then finding ways to moderate or work with the identified risks.
 Implemented of monthly / Quarterly MIS report.
 Analyzed pricing model and implemented pricing policy and flexibility.
 Implemented the finance and accounting control policy and supervised the compliance.


Key achievement
 Made feasibility study and evaluations for acquisition purposes, accordingly.
a- Established subsidiary education company. MIA academy- Pre-school - (KD500 K Paid Capital)
b- Established subsidiary recycling company.
(KD100 K Paid Capital)
c- Obtained cash loan from the local banks for complying with company plans. (KD 1M).
 Trained the staff of company and the subsidiaries. (Qunt.15).
 Increased company’s assets.
 Increased company’s net profit.
 Saved Administrative expenses.
 Increased company’s owners’ equity.

Finance Manager at First Qatar Real Estate Dev. Com (K.S.C.C

• Qatar - Doha
• March 2009 to July 2011

 Implemented the finance and account control policy and supervised the compliance.
 Implemented the procurement policy manual and supervised the compliance.
 Performed valuation reports due diligence reports.
 Managed cash flow and obtained financial and bank facilities for the company.
 Trained directed the supervisors and accountant(s).
 Implemented ISO and supervised the compliance.



Key achievement
 Due to the financial crisis and lack of liquidity, the company was unable to reach the completion of its project in Doha - Qatar, where the main developer almost withdrew the project from the company, which would have led to the company losing the largest of its assets in addition to the loss of shareholders' equity. Rescue plan was must for save and protect the company assets plus shareholders equity, the company's project percentage of completion was 78%.

I secured cash inflow for the company to cover salaries and rents and sub - contractors’ payments by:
a- I developed the purchase agreement with a new payments scheme which increased the sales of units on map 20%.
b- Cease sales commission payment. (Agreed by all).
c- Negotiated with the main developer to extend the project delivery date.
d- Negotiated the main service providers such as (water and elect, A/C) for connection with postponed payment.
e- Negotiated the main contractor to complete construction with postponed payment.
f- Accordingly, then; I used the purchase agreements as a collateral for the bank which enable me obtained QR 120M - 200M from QNB.
g- Now, the company is going on with a potential asset and investments and has a strong financial position which guaranteed the company good revenue.
The owners’ Equity had been increased with around 23% and the Assets growth up with around 200%.

Financial Controller at Kuwait Dynamics Limited for Contracting (K.S.C.C

• Kuwait - Al Kuwait
• March 2004 to January 2009

 Worked with subsidiaries executives in order to design and create the quarter report for management reporting purposes plus the auditing.
 Monitored third party activities handling outsourced treasury functions on behalf of the company.
 Global Investment Com. for KDL.
 NBK Capital, for KDL.
 Funding strategy complying with management operation plan.
 Provided executive project support, administrative help, and financial data tracking.
Key achievement
 Implemented the funding strategy complying with company business plan, KD 64M was obtained from local bank(s).
 Accomplished new policy for procurements which saved KD1, 2 M.
 Re-structured administrative expenses and projects direct cost by buying assets instead of lease, which minimized the company expenses:
 Saved projects direct cost KD1, 1 M.
 Saved administrative cost KD500 K.
 Increased company fixed assets. (Vehicles, Heavy Equipment’s and Tools): by transferred leasing agreements into lease to own made the assets growth up aggressively from KD14K to KD3, 5M within 3 years.

 For accuracy of interest cost, I prepared calculation sheets based on bank facilities agreements conditions which lead to cut interest costs by 2%, and accordingly.

 I received back KD 73K (refunded Interest).

 Established specialist companies as sub-contractors for main works, to be subsidiary of company, which increased the company turnover around 23% and keep the cash flow in group circle.
 KMIX company for ready mix
 Action Electro-mechanical com.

Senior Auditor at BDO-International

• Kuwait - Al Kuwait
• January 2000 to January 2004

Audited and consulted more than 100 company with variety activities and objectives such as:
 Financial Sector.
 Real Estate Sector.
 Trading & Contracting Sector.
 Service Sector (Education & Medical).
 Service Sector (Food & Beverage and Hotel Management)

Key achievement

 One of my clients - Education Company - has an institutes and training center, i advised and implemented the management business plan and executed shifted the legal entity of the company into holding listed company and transferred each institute division into a subsidiary company.
The purposes for this plan was to receive free money from shareholders and participants for expansion target.
The result was:
a- KD15 M cash inflow.
b- New University was opened in Kuwait.
c- Share market value is KD3, 5 per share.

 Other client - Contracting Company - has losses, I was assigned to make the due diligence and set up the solution. I found that costing some project(s) was wrong and had no control on procurement.
a- I sited up control policy and procedure.
b- I sited up new policy for costing the projects.
c- I supervised completion of control policy and procedure plus accounting procedure.

The Result was:
a- company eliminated loss and shifted to profit.

Accounts Manager at Kuwait Real Estate Company (K.S.C.C.) Listed

• Kuwait - Al Kuwait
• June 1995 to December 1999

Accountant at Mohamad Abdulrahman Al-Bahar- •(General Electric

• Kuwait - Al Kuwait
• August 1989 to October 1994