Group CFO&COO at Multi Million USD Saudi Family Group
Raddah Holding
Total years of experience :30 years, 2 Months
Raddah Holding is a well establish business group located in Kingdom of Saudi Arabia and United Arab Emirates serving diversified sectors including real estate, construction, contracting and infrastructure, manufacturing, trading, minerals, food & beverages, logistics, hospitality and healthcare with a defined mission and vision that govern its business growth strategies.
The Group invest in dynamic small to medium sized businesses, working in partnership to create companies that deliver excellent returns to all shareholders. The group has key alliances locally and internationally that have a considerable impact in enhancing its deal flow as well as extending regional and global accessibility.
Achievements:
Reporting to CEO, successfully leading the group to a period of rapid growth.
• Controlling all subsidiary companies and Managed resources allocation to improve the group turnover;
• Directing the group’s finance, accounting, banking and treasury, IT, auditing, budgeting and planning, risk management, cost control, international investment, business development, new acquisitions and joint ventures;
• Actively participated in groups' expansion and diversification within and outside Saudi Arabia;
• Compiled group business plans, business valuation and investment mandates to make the group well-positioned and well-integrated to achieve 40%+ annual growth;
• Managed acquisition and establishment of new business lines i.e: mining, manufacturing, food & beverages, industrial housing and healthcare;
• Initiated and implemented backward integration to build manufacturing capabilities to penetrate lucrative markets horizontally and vertically.
• Expanded the operations and achieved regional and international presence.
• Installed holding and subsidiary companies to enhance management efficiency and transparency, ensure brand impact and market acceptability, and to prepare for IPO floatation
• As advisor to MD, led group-wide resources allocation (marketing, technical, managerial, financial and human resources) to achieve initiated corporate expansion, diversification, and restructuring
• Installed central treasury and consolidated financial management functions across the subsidiaries.
• Fed the exponential growth through timely arrangement of funds from Saudi and regional banks, SIDF, institutional and private equity.
• Restructured IT functions and rolled out ERP automation across the board.
• Recruited qualified managers to manage the expansion. Introduced employee benefits, medical insurance, employee loans, automated payroll, and training programs.
The company is an Investment Bank licensed by Capital Market Authority. Recruited at start-up phase under direct reporting to CEO. Successfully set-up the bank and led to rapid growth. Key achievements are:
Back Office Operations
Overhauled and professionalized the entire back-office operations including settlement, custody, accounting and internal and external financial reporting.
Developed systems for accurate NAV calculation, revenue recognition, budgeting, forecasting, cash management, payroll and disbursements to handle 100% real-time operations. Accomplished zero adjustments in statutory audits.
Finance & Accounting
Devised financial policies and systems and processes to provide CEO & Board with accurate MIS reports (including financial statements) for them to be able to take timely decisions.
Achieved 4 consecutive satisfactory audits from KPMG auditors with no observation.
Prepared financial statements as per IAS & IFRS. Achieved 100% on-time delivery to all stakeholders including Investors, Shareholders & Regulators.
Treasury Management
Negotiated best rates to the company for managing over SAR 100 million funds portfolio; resulted in increase of 100% profits over previous years.
Provided company with liquidity to run business at market leading rates for credits securing SAR 70 million facilities on favorable terms.
Regulatory Compliance
Devised mechanism for regulatory reporting to Capital Market Authority (CMA)
Ensured license maintenance requirements stipulated by CMA at all times.
Strategic Initiatives
Prepared five-year business plan supported with tangible cash flows and projections.
Piloted risk management. Improved insurance coverage by 45%. Reduced premium costs by 20%.
Gained substantial cost economies in business processes whilst improving customer focus, asset utilization, employee productivity.
Delivered savings upto 30% on major contracts through vigorous negotiation.
Listed Funds with Tadawal, Saudi Stock Exchange
The company is an Investment Bank licensed by SEC Pakistan primarily focusing on investment funds and wealth management. Recruited at growth phase under direct reporting to CEO to manage back office operations and control accounting, budgeting, treasury, taxation, investors and management reporting functions. Key achievements were:
Capital Markets & Banking Relations
Raised Rs. 700 million in 2 separate transactions from public & corporate entities.
Enabled access to Rs. 1+ billion capital at low interest rates and under favorable terms by building and cultivating multiple banking relationships.
Prepared company for IPO. Finalized engagements with investment bank; initiated communication with SEC Pakistan for approval and subsequent IPO events.
Back Office Operations
Overhauled and professionalized the entire back-office operations including settlement, custody, accounting and internal and external financial reporting.
Developed systems for accurate NAV calculation, revenue recognition, budgeting, forecasting, cash management, payroll and disbursements to handle 100% real-time operations. Accomplished zero adjustments in regulatory & statutory audits.
CRM - Customer Relationship Management
Established Call Centre for interactions with customers, clients and sales prospects.
Acquired dedicated IT CRM system to organize, automate and synchronize business processes. Achieve 150% increase in client base with 0% complaints.
The SEC is a securities regulator in Pakistan established in 1999 to protect investor rights, maintain fair, orderly and efficient markets and facilitate capital formation. Recruited at start-up phase to strengthen regulatory compliance, detect violative conduct and enforce actions as warranted. Key achievements were:
Audit
Set up Audit & Inspection Department for newly taken over non-banks.
Delivered Audit Plan with allocable budget & staff.
Devised Audit Report with recommended enforcement actions.
Achieved SEC recognition and became the youngest Director after promotion.
Successfully finished complex audits within budgeted time and resources of investment banks, discount houses, asset management companies, mutual funds / collective investment schemes, etc.
SEC Filing
Played active role in formulating SEC Financial Reporting.
Administered SEC accounting and disclosure requirement.
Monitored SEC periodic filing and ensured regulatory compliance.
Deloitte offers integrated services including Audit, Tax, Consulting and Corporate Finance. Recruited at growth phase under direct reporting to Director, Corporate Finance to undertake consulting assignments. Key achievements were:
M&A, Valuation, Corporatization & Due Diligence Corporatized High-profile leading state-run insurance company.
Executed 2 transactions for Valuation & Due Diligence.
Played key role in 1 major transaction for M&A.
The World Bank Project was initiated to structure Central Bank of Pakistan for strengthening its regulatory role of banking supervision & inspection. Inducted at start-up phase under direct reporting to Director, World Bank Project to extend support to Resident/Visiting World Bank Consultants. Key contributions were:
Advisory on
Banking Supervision Drafted Offsite & Onsite Inspection Manual.
Prepared Model Inspection Report for Banks & Non-Banks.
Introduced Confidential Bank Rating System in Pakistan.
Attended various courses & training on Banking Supervision.
Recruited in Audit & Inspection Department. Key contributions were:
Audit & Inspection
Gained exposure in inspecting Banks & Non Banks.
Monitored Banks & Non-Banks operations through offsite surveillance.
Prepared Audit Reports with warranted actions.
Involved in preparing monthly accounts for foreign reporting. Also engaged in preparing various statements for the management in connection with budgetary control, cash flow, cost control/reduction, summaries for store & spare consumption, summary of personnel; and different schedules in liaising with external auditors.