Group Financial Controller
AIC Steel
Total years of experience :12 years, 8 Months
Key Responsibilities
Financial Analysis
• Following a cost reduction and efficiency enhancement philosophy to bring down costs across all areas of the corporation to steer growth & profitability.
• Keeping close tabs on the performance of competitors and sharing key insights with the management team to support strategic planning & decision making.
• Setting KPIs for individuals and encouraging them to adhere with them through attractive rewards & recognition programs.
• Analyzing financial statements to gauge profitability, liquidity and solvency whilst sharing key areas of concern with the Management Team to enhance productivity & performance.
• Assessing existing systems & processes to identify bottlenecks and recommending practical measures to reduce cycle time and enhance throughput.
• Deploying target costing methodology to develop products that are in sync with predetermined pricing objectives to assure certain minimum level of profitability.
• Applying the concept of perceived pricing to set prices based on consumer willingness to pay instead of the traditional cost plus pricing model to meet profitability targets in a short span of time.
• Leveraging capital budgeting tools (NPV, IRR & Payback) to evaluate multiple projects and recommending those projects that have the potential to enhance value of the corporation.
Budgeting
• Collaborating with Divisional Heads and preparing the annual budget in alignment with the corporate vision, growth goals and additional established targets.
• Comparing actual figures with budgeted figures to assess and rectify major variances.
Funds Management
• Forecasting cash flow requirements and associated borrowing needs to earmark funds for investment.
• Developing multiple sources to assure that sufficient funds are available to meet ongoing operational and capital investment requirements.
• Maintaining cordial relations with banks to acquire funds at lower than market interest rates and at favourable terms and conditions.
• Determining the optimal capital structure where the mix of debt and equity gives the lowest cost of capital and arranging for debt and equity financing.
• Investing excess funds and recommending appropriate dividend issuance in line with historical dividend patterns and expected cash flows.
Accounting Operations
• Ensuring that accounting operations are in sync with applicable financial reporting standards and the accounting personnel adhere with the established accounting policies & procedures to give a true and fair view of the financial standing of the corporation.
• Supervising operations of the treasury department including an organizational structure adequate for achieving goals and objectives.
Internal Controls & Compliance Management
• Keeping track of internal control procedures to provide reasonable assurance whilst assuring that the company delivers on it financial and operational KPIs.
• Assuring unscathed business operations by meeting regulatory requirements associated with taxation, filing of returns and other statutory regulations.
• Developing strong relations with tax regulators, accounting regulators and key players in capital markets and other regulatory bodies to fortify operations and financial control systems.
ERP Implementation
• Planned, developed & implemented entity wise ERP system to provide technological edge against competition; provided direction to the development team to confirm alignment of technology solutions with operational needs.
Other Relevant Experience:
Feb 2009-Aug 2011: Accounting Manager, Energya Cables, Jeddah, Saudi Arabia
Dec 2002-Jan 2009: Senior Auditor, KPMG, Cairo, Egypt
Financial Accounting
4 years