Waleed Tibi

The Group is a leading Dermatology, Plastic Surgery & Skin and Body Treatment Supplier and is the largest importer of cosmetic laser equipment in the Middle East region and operates in 12 countries in the Middle East, through eight permanent offices spread all over the region.

Highlights:
• Successfully managed finance department and build department’s manpower requirements with responsibilities to handle the statutory financial information, regulatory reporting, and budgetary reporting and management information, having significant involvement in financial planning, monitoring and analysis for the Group as a whole.

Key Responsibilities:
• Directing the organizations financial policies, setting and leading strategies that increase the financial health of the business and making actionable recommendations for branding of the finance department.
• Managing company's cash flow, annual budgeting, forecasting, financing & structuring financial strategies to ensure accurate and timely reporting and compliance that help the management to take rational decision.
• Devising customized turnkey strategic business solutions for commercial decision making, in addition to overseeing risk management, including negotiations and timely renewal of policies, agreements and contracts.
• Liaising with agencies/representatives, banks, insurance companies and other outside organizations to ensure cycle of efficient operational processing, as well as liaising with auditors as needed on research/resolution of complex accounting issues.
• Preparing commentaries/executive summary, working capital projections and budget variance report, submitting month-end, quarter-end and year-end financial statements, management accounts and other reports/information to MD.
• Interpreting financial reports, resolving accounting issues, maintaining monthly P&L, B/S & Cash Flow statements and identifying associated risks and opportunities.
• Performing internal controls evaluations in accordance with compliance mandates/ regulatory guidance and recommended on business best practices, methodologies, and tools to mitigate any deficiencies or weaknesses identified.

The company is a leading IT trading company that provides high quality and innovative solutions in geometric & engineering, office automation, business software, networking & security solutions. Established in 1996, serves as agent for several brands from Europe, United Kingdom and Japan, such as Leica, OKI, Contex, DIS, KIP, Mutoh, Sedco, Fujitsu, NVSSoft and Eset.

Highlights:
• Joined the organization as a Chief Accountant and worked the upward career trajectories to merit promotion to the position of Finance Manager.
• Conducted cost and financial studies pertaining to new investment, dividend, and working capital decisions, researched market scenario/trends, performed competitor’s analysis and devised appropriate business plans for the whole group to explore new business opportunities.

Key Responsibilities:
• Provided strategic analysis and inputs to finance in creating and implementing turnkey financial solutions for joint ventures and new investments.
• Supervised preparation of annual budgets, business plan and quarterly business review and variance analysis, presented tailored financial business planning and budgeting to the management in order to facilitate decision-making.
• Governed the organization’s operating, capital budgets, A/R, A/P and Cash Management systems.
• Ensured availability of funds at all times, arranged for the short term and long term funds, negotiating for a better credit terms with banks and suppliers
• Evaluated system effectiveness and transformed procedures for some departments in the company to guarantee the segregation of duties, insuring the existence of proper internal control and compliance with regulations.
• Warranted that all accounting processes, financial reports, status reports, capital budget statements, are in conformance to all regulatory and legal policies, organization’s adopted procedures and according to IFRS standards.

Key Responsibilities:
• Computed an array of financial and cost accounting functions, approve payment vouchers, prepared reports, reconciled bank cash flow statements, issued trial balance on monthly/quarterly/yearly basis, and assessed its accuracy, completeness, and conformance to reporting and procedural standards.
• Prepared financial statements, drew up financial reports reconciled and maintained balance sheet accounts, oversaw general ledger, payables, payroll, property, budget reporting, and statistical accumulation.
• Scrutinized figures, postings, and documents for accuracy and conformance to various accounting/organization/legal standards, policies and procedures. Maintained financial security by establishing internal controls.
• Supported the external audit and annual review process by preparing various schedules necessary and coordinating and implementing the year end closing process and procedures to complete year-end audit.
• Prepared a variety of financial statements/summaries, and established appropriate accounting procedures, departmental guidelines, and regulatory requirements.
• Lead accounting professionals and entry level accounting data and support the staff, provide technical accounting support and interpretation to management and employees.

Key Audit Assignments Handled:
• Kuwaiti United Investment Company (Holding) for the period of 2 fiscal years.
• Regency Park Hotel for the period of 2 fiscal years.
• DHL for the period of 3 fiscal years.
• Rain Bow for the period of 2 fiscal years.
• Seif El Sham (Rover Cars Agents) for 1 fiscal year.
• Conducted several feasibility studies for local and foreign companies.
• Participant in court expertise.

Key Responsibilities:
• Established audit plans, objectives and scope of work in alignment with organizational goals; undertook responsibility for the overall execution and finalization of Financial Audit and Consultancy engagements through team management and final report delivery.
• Comprehended client's industry and marketplace, managed client engagement/expectations to deliver quality service by reviewing internal control systems and reporting of potential key issues and risks.
• Prepared detailed reports on audit findings and made recommendations to improve organizations accounting and management practices, provided inputs for areas of improvement, writing reports, documenting findings, and follow up on recommendations to ensure suggestions are implemented.
• Carried on audit assignments, from the planning stage through delivery, developed audit strategies, schedules and programs, prepared summary review memo, detailing reports as well as recommendations for the board of directors and audit committee.

Other Relevant Experiences:
• 1997 - 2001: Accountant for Sabbagh Trading Co. (dental supplies).
• 1997 - 1999: Accountant for Sarah Corner Shop (retailer).
• 1997 - 1998: Accountant for Sarah 2 shop (retailer).
• 1996 - 1998: Accountant for Master Sign Co (advertising agency).