Waris Farooqui - FCMA, Senior Financial Controller-Head of Finance

Waris Farooqui - FCMA

Senior Financial Controller-Head of Finance

KSA

Location
Saudi Arabia - Khobar
Education
Bachelor's degree, Finance
Experience
30 years, 0 Months

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Work Experience

Total years of experience :30 years, 0 Months

Senior Financial Controller-Head of Finance at KSA
  • Saudi Arabia - Khobar
  • My current job since July 2012

Presently working with renowned MNC in construction & infrastructure industry, having contracts all over the Middle East, UK, USA, Australia, Hong Kong, and South Africa.

Being Head of Finance responsible for the overall function of Finance, Accounting & Tax in KSA including:
• Strategic business planning & evaluation with related action plan and short term /long term financial planning for major projects .
• Internal control procedures to ensure financial discipline and assets safe guard.
• Detailed monthly business performance/cost analysis reports for overall company performance identifying the major variations compared to budgets / forecast for each region together with recommendations to UK top management.
• Monthly Financials pack including BS, P&L, and Cash flow statement in accordance with IFRS/SOCPA
• Monthly tax returns for VAT /WHT & proper recording of corporate tax / deferred tax
• Review & finalization of budgets /forecast and corresponding financial planning
• Dealing with banks, Trade Financing & overall cash flow management.
• Co-ordinate with external auditors (Deloitte / E&Y) for finalization of Audited Statements.

Group Financial Controller at SAF Group
  • Saudi Arabia
  • January 2010 to June 2010

SAF Group is one of the fastest growing multi diversified business groups in the Eastern Province of Saudi Arabia dealing in Oil & Gas services, waste water treatment projects, Granite & Aluminium products manufacturing, Warehousing & Logistics.

Major responsibilities include:
•Strategic Group business planning & evaluation with related action plan and short term /long term financial planning for major projects .
•Performance Evaluation Report for group companies with recommendations.
•New business /projects/JV evaluation and alignment recommendations for decision making.
•Top Management financial & performance management reporting including Consolidated Financial Statements in accordance with IFRS /SOCPA/GAAP
•Dealing with banks for fund arrangement including Maturity Gap Analysis, Bridge Financing, and Liquidity Risk Management through monitoring & synchronization of cash flows .
•Liaison with commercial managers for contract negotiation and for effective cost control measures through various cost accounting techniques to ensure profitability.
•Internal control measures through implementation of financial policies & procedures to ensure accurate & timely availability of financial data.
•Finalization of budgets and controlling of project CAPEX and other major revenue expenditures.
•Coordinate with external auditors, zakat department, and all taxation returns /issues.
•Supervision over HR & administrative affairs of the company and other activities as per SLA.

Manager at Rashid A.AL Rashid Steel
  • Saudi Arabia
  • August 2006 to December 2009

Al Rashed steel is one of the largest steel manufacturing company in KSA, producing different kinds of construction steel rods, wire mesh, galvanized wires & tapes, and stainless steel with annual sales of more than SR. 500 million.

Major responsibilities include:
• Supervision over periodical closing of Accounts & preparation of Financial Statements in accordance with
IFRS / SOCPA
• Analysis of Financial Statements to identify & strategically analyze the key performance indicators and other
activity based information together with detailed cost /variance reports to give recommendations to the Top
Management required for Decision Making.
• Cash flow Management and AR (avg. more than SR. 55 million), AP ( avg. more than SR. 60 million) monitoring
including periodical review of credit policy to take aligning actions if required.
• Preparation of master budget of the company and issuance of various cost reports with detailed reasoning
• Supervision over Stores & Inventory accounting (avg. inventory more than SR. 80 million).
• Coordinate with External Auditors for audit of Accounts and Zakat finalization.
• Direct supervision over HR & Govt. relation department.

Deputy Chief at SUI SOUTHERN GAS COMPANY
  • Kuwait
  • December 2001 to August 2006

Largest State Owned Gas Transmission & Distribution Company in Pakistan having annual sales of more than USD. 790 million.

Budget Controller at MIMA GROUP
  • Pakistan
  • June 1997 to December 2001

One of the leading export oriented business group (whole sale & Retail) in Pakistan dealing in manufacturing of textiles & leather

Chief Accountant at JAFSONS & CO. LTD
  • May 1992 to June 1997

“A” class Govt. contractors for MEGA Construction Project in Pakistan .

Senior Financial Controller
  • to

Education

Bachelor's degree, Finance
  • at FCMA
  • January 1997

Specialties & Skills

Financial Reporting
Strategic Financial Planning
Financial Regulation
Cost Control
taxation
ACCOUNTANCY
ADMINISTRATION
BUDGETING
BUSINESS PLANS
CASH FLOW
CONTRACT MANAGEMENT
COST ACCOUNTING
COST CONTROL
DECISION MAKING
FINANCE

Languages

Arabic
Expert