Wesam Maraqa CPA, Chief Financial Officer

Wesam Maraqa CPA

Chief Financial Officer

Bin Butti Holding Group

Location
United Arab Emirates - Dubai
Education
Master's degree, Professional Accounting
Experience
20 years, 2 Months

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Work Experience

Total years of experience :20 years, 2 Months

Chief Financial Officer at Bin Butti Holding Group
  • United Arab Emirates - Abu Dhabi
  • My current job since June 2020

• Managing the processes for financial forecasting and budgets, and overseeing the preparation of all financial reporting of the Group.
• Advising on long-term business and financial planning.
• Establishing and developing relations with senior management and external partners and stakeholders.
• Analyzing and advising on any new investment opportunity and providing recommendation on feasibility studies conducted by the group.
• Managing and monitoring the cash flow for the Group.

Finance & Admin Manager at Habtoor Leighton Group – Al Jaber Engineering WLL Joint Venture
  • United Arab Emirates - Dubai
  • September 2015 to December 2019

Company overview
A joint venture between Habtoor Leighton Group and Al Jaber Engineering for the design and construction of the New Orbital Highway and Truck Route (PO23). This 60 kilometers project is the largest of four contracts which make up the New Orbital Highway - stretching from the existing Mesaieed interchange to Salwa Road.

Responsibilities
•Responsible for the financial and administrative guidance of this expanding QR 6.2 billion project for the development of a new orbital highway connecting Qatar major roads together (NOH3 Project).
•Responsible for overseeing the Departments of Finance, HR, and IT managing 54 personnel residing in different site locations.
•Restructured the existing credit facilities with banks and managed to secure additional QAR 400 million line of credit through invoice discounting and commodity murabaha agreements.
•Assessing manpower needs for project activities in accordance with the budget and negotiating rates with manpower suppliers.
•Reviewing the accuracy of the daily and weekly reports from all the concerned departments and submit the analysis to Project Director for discussion.
•Developing and maintaining timely & accurate financial statements and reports.
•Updating and implementing all necessary business policies and accounting practices; improve the finance department’s overall policy and procedure manual.

Finance & Admin Director at TUV Intercert GmbH - Dubai
  • United Arab Emirates - Dubai
  • March 2013 to August 2015

Company overview
TUV Intercert GmbH - Dubai is a business consultancy service provider offering a wide range of services mainly in specialized management-auditing services and third party inspection on behalf of TUV Intercert Germany in the Middle East and Arabian Gulf States.

Responsibilities
•Responsible for the proper maintenance of all accounting systems and functions.
•Ensured maintenance of appropriate internal controls and financial procedures.
•Coordinated for the development and monitoring of budgets.
•Developed and maintained timely and accurate financial statements and reports.
•Performed gap analysis and developed business process mapping for our clients’ to help them obtain ISO certification.

Chief Financial Officer (CFO) at Multiforms LLC
  • United Arab Emirates - Dubai
  • October 2011 to February 2013

Company overview
Multiforms LLC designs, manufactures, supplies, and installs architectural façades in the United Arab Emirates and the GCC region. The company provides integrated façade solutions, including unitized curtain wall systems; stick curtain wall systems; sliding, casement, folding, and pivot doors and windows.

Responsibilities
•Responsible for overseeing all Multiforms’ accounting practices including the accounting department, preparing budgets, financial reports & statements and audit functions for both UAE and KSA operations.
•Implemented the first annual budget by orchestrating budget process with all departments and senior management concluding in the presentation of a final budget approved by the CEO and the Board of Directors.
•Provided company with liquidity to run business through negotiating and refinancing over AED 100 million in multiple bank credit facilities, achieving favorable terms and avoiding payments defaults for UAE and KSA banks.
•Established gross margin profitability reports and ratios analysis that identified projects budgeting issues resulting in increased contracts value.
•Reduced the monthly closing of financial reports from 25 to 16 days.

Finance Director at HMBS Group
  • United Arab Emirates - Dubai
  • October 2008 to September 2011

Company overview
HMBS is in the business of manufacturing, trading and distribution of food products mainly in the Iraqi market. The company’s portfolio of products currently has over 250 items which are either imported or produced by HMBS.

Responsibilities
•Directed the financial strategies, investments, planning and forecasts.
•Prepared daily consolidated financial statement for HMBS group and its subsidiaries and performed ratios analysis for the results.
•Responsible for developing, monitoring and reviewing all the Group policies including the HR Employment Policy, the Financial Policy and the Control’s Procedures Manual.
•Liaised for the yearly audits and acted as a point of reference/ technical advisor for the Financial Statements preparation in accordance with IFRS.
•Performed Due Diligence studies on the intended to acquire companies and discussed findings with company’s Board of Directors.

Manager at PricewaterhouseCoopers (PwC)
  • United Arab Emirates - Dubai
  • September 2003 to August 2008

Company overview
PricewaterhouseCoopers is a multinational professional services network headquartered in London, United Kingdom. It is the second largest professional services firm in the world and is one of the Big Four auditors. PwC has been ranked as the most prestigious accounting firm in the world for seven consecutive years, as well as the top firm to work for in North America for three consecutive years.


Responsibilities
•Responsible for defining and managing projects, e.g., resource requirements and project workflow, etc., to meet engagement/project objectives and budget.
•Responsible for the quality of the team’s work products and addressing the needs of the client, the Firm and other stakeholders including compliance.
•Prepared financial statements in accordance with International Financial Reporting Standards (IFRS).
•Responsible for recognizing ineffective strategies and recommending alternative approaches and solutions to capitalize on change.
•Responsible for reviewing the systems of internal controls, both manual and computerized, and suggesting recommendations for improvements.

Education

Master's degree, Professional Accounting
  • at Canisius College
  • December 2002

Master of Business Administration in Professional Accounting 2000 - 2002 Canisius College: Buffalo, New York.

Bachelor's degree, Accounting
  • at University of Jordan
  • January 1998

B.A. in Accounting, Faculty of Business Administration 1994 - 1998 University of Jordan: Amman, Jordan.

Specialties & Skills

Consolidation
Financial Reporting
Budgeting
Internal Controls
ACCOUNTANCY
BUDGETING
CUSTOMER RELATIONS
FINANCIAL STATEMENTS
MANAGEMENT
CONTRACT MANAGEMENT
FINANCIAL
HUMAN RESOURCES
NEGOTIATION
Strategic planning
budgeting & Forecasting
consolidation
Internal Controls
Cash Flow analysis
Financial Reporting

Languages

Arabic
Expert
English
Expert

Memberships

American Institute of Certified Public Accountants
  • CPA
  • October 2006

Training and Certifications

Certified Public Accountant (Certificate)
Date Attended:
October 2006