CHIEF FINANCIAL OFFICER (CFO)
MANARAT AL OMRAN
Total des années d'expérience :27 years, 2 Mois
Being in the foundation period of the company, was an interested challenge that makes me stand against several extra tasks; as participating in the establishment of other departments within the company, such as Procurement, Warehouses, Admin & HR, contributing to the formulation of the related policies & procedures, in addition to the main task of establishing the Financial Department.
- Building & implementing the chart of accounts according to the nature of the company activities & needs.
- Creating the chart of the materials of warehouses with codes, categorizing in groups & levels.
- Setting up & customizing the costing of projects (accounts & cost centers), beside the billing forms.
- Establishing the basic financial data base for monthly & quarterly reports for management & owners throw the Holding Group.
- Monitoring & reporting the funding & cashflow.
- Building up the fixed assets records & calculation templates of depreciations.
- Setting up the cycle of financial documents in the company & preparing the related templates that matched the Holding Group’s ones.
- Creating the communication links methods between Finance Department & other departments.
- Building up the calculation templates of payroll, overtime & the related taxes.
- Prepared the first Payroll Tax of the company (1st half of 2022) & execute the related payment to authorities.
- Expanding the Finance Department by adding new members as per scheduled recruitment plan; preparing special tests & making interviews with candidates in several levels to have the most suitable choices.
- Distributing the duties between the finance team members, as per the prepared chart & job descriptions. According with continues motivating, observing & explaining of all tasks to all team members.
- Inspecting the trial balance, TB, balances, reconciliations Banks sister companies, suppliers.
- Monitoring the warehouses movements & balances.
Depending on previous experiences allowed me to speak the languages of finance and accounting, operations, sales, marketing, human resources, and research & to play the role of GM besides my duties of being responsible for Finance, Admin & HR.
- Reviewing the performance, managing daily operations, organizing & scheduling work of the organization.
- Developing and executing continuous improvement plans.
- Planning and implementing processes to improve efficiency and cost-effectiveness.
- Coordinate with key functional managers & work with team members to increase individual performance and set realistic improvement goals.
- Following up the site works at the project with the project director & the engineers, managing the investment cost control (soft, hard & infra cost).
- Developing and analyzing financial reports to determine progress in achieving business objectives.
- Monitoring budgets and forecasts & analyzing diversions with actual figures.
- Preparing several specific reports & analyses for the Board of Directors & EXCOM.
- Responsible for the PR activities.
- Observing customers satisfaction by measuring and evaluating service levels offered to customers.
- Participating in specific sales operations & managing negotiations to finalize the deal.
- Managing the execution of short- and long-term marketing strategies.
- Defining employee functions and keeping individuals on task and evaluating employees’ performances.
(From 2014 Being also in charge of ADMIN & HR MANAGER)
- Responsible for preparing the Monthly Management Report to headquarter.
- Reporting to Dubai government through headquarter on a quarterly basis.
- Responsible for operational and master budget preparation including the process of integrating all sub-budget in the master budget.
- Responsible of calculate & control the revenue recognition along with the percentage of completion and installment methods, besides all related transactions.
- Monitor all cost accounts to assure proper classification of costs between project components & phases.
- Management of the annual corporate audit. Including preparatory and overseeing the whole audit process.
- Reviewing financial statements and ensuring prompt submission to the finance and audit committees.
- Responsible as a final reviewer & authorized to sign all sales contracts.
- Reviewing the Payment Certificates for contractors, Suppliers & the payments to Finance Directorate against Taxes (With-Holding Tax & Stamp Duty & wages and salaries taxes).
- Monitor performance & collection procedures from customers.
- Review the status report for all running contracts on monthly basis.
- Review the Bank Position & Cash Flow Reports.
- Review the bank’s accounts & the related reconciliations.
- Supervise the overall accounting process & validate all accounting transactions on the accounting system (Receipts, Bank Deposit, Payments & Journal Vouchers), along with reviewing all company accounts (accruals, prepayments, employees’ advances...etc.).
- Maintain the fixed asset records/registers and related depreciation accounts, and ensure that all transactions relating to fixed assets are properly reflected in the accounting books & records along with the Company’s accounting policies.
- Monitor obtaining the requested insurance for the company.
- Perform the payroll of the staff and ensure that the salary is given in a timely and accurate manner.
- Monitor all HR issues related to hiring, recruitment, compensation, promotion, termination, career development, or retirement, beside the related data, records, reports, statements & files, Books & Registers are properly prepared, issued, updated & maintained as per company’s HR policies and procedures.
- Monitor all Job Contract / Appointment Letters for new hires are properly made, issued, filed, and updated as per recruitment policy.
- Reviewing and revising HR policies in compliance with changes or new legislation.
- Collecting ongoing information regarding satisfaction of employees on salary packages and wage, working conditions, etc. & receiving their complaints and acting accordingly to resolve them.
- Responsible for all accounts of the major suppliers & the shareholders; including the monthly reconciliations & interests & provisions.
- Make the follow-up & correspondence with the major suppliers & shareholders.
- Review & validate the bookkeeping procedures (the computerized method by ORACLE), and the entries of monthly closing, besides the With-Holding Tax (Applicable percentage & Verify calculation).
- Preparing special financial reports related to the VIP unit.
- Supervise VIP unit subordinates and distribute duties & daily work between them.
1998 - October. 2004
1999 - November. 2003 (Part Time)
- Preparing both technical & financial offers for public & private sector.
- Planning the company's marketing & promotion strategies (Approach, Exhibitions, publications and other promotion channels).
- Preparing comparison lists with other competitors products.
- Analyze sales reports & forecast sales.
- Make special researches for new products according to customer’s order (& tenders), then start correspondences & negotiations with manufacturers to have agency agreement.
- Representing company at specialized fairs (Local & International).
- Preparing status and progress reports for senior management and pass recommendations on solving day-to-day issues.
- Responsible of L/Gs accounts with banks, (Letters of Guarantee).
- Preparing purchase orders to import machines from manufactures & following up the shipments status.
- Assist management in cost reduction assignment.
- Preparing periodic branch financial statements (monthly, semi-annual).
- Preparing the annual branch financial statements.
- Responsible for the reconciliations with head office & other branches.
- Review book keeping procedures (dual system, both manual and computerized methods), to insure compliance with bank Policey & Procedures.
- Review the daily cash box statements.
- Chairman of the Branch purchasing committee.
- Preparing Tender Offers for Governmental nongovernmental
- Commercial correspondence.
- Promotional items ideas and Marketing publications.
- Marketing during Specialized Local Fairs.
- Translating Catalogues
B.S. in Accounting