Achievements
? Completed and successfully integrated two acquisitions in 2017.
? Reduced operating expenses 45 % in 2014 without effecting revenue growth.
? Designed monthly KPI reports identifying trends in financial and operating metrics provided direction for improving performance and achieving goals
? Prepared Business Models for new Product development launching.
? Provided financial analysis, such as Net Present Value, Internal Rate of Return and Discounted Payback Period, for operation projects.
? Successfully launched new Enterprise Level Software System (MS Dynamics AX) across the Group. Trained all employees on new systems, migrated data from old system, streamline programs, synchronized with product/reporting needs in co –ordination with the Consultants.
? Awarded Certification of Appreciation from the CEO for the excellent execution of Microsoft Dynamics ERP Project which has standardized the work flow and improved the overall Performance in Kuwait Packing Materials Manufacturing Company.
? Accelerated the month-end closing process to the tenth calendar day of every month to provide timely and accurate financial reports on operating entities and capital projects.
? Successfully developed MIS reports on Raw Material consumption and influenced the management to take corrective action 2014.
Areas of Expertise
? Cost Accounting
? Management Accounting & Reporting at Group level
? Cash flow management
? Business Plans
? Automated Systems Implementation & Centralization of activities
? Treasury & Working Capital Management
? ERP & IT Development
? Product Costing and Pricing.
? Budget & Forecasting
CAREER ACCOUNTABILITIES
A Premier Flight Catering Company- KSA
Finance Manager Group-January 2019 to March 2019
Accountabilities:
• Reconstructed the whole Finance department and streamline the reporting aspects viz; Monthly PL reports/Sales and revenue reports/ Cash flow reporting etc.
• Developed forecasting model obtaining 95% accuracy from Gross Revenue to Net Revenue using daily and weekly monitoring techniques.
• Manage all accounting operations including Billing, A/R, A/P, GL, Cost Accounting, Inventory Accounting and Revenue Recognition
• Monitor, analyse and review cost allocations and updating methodology as required.
• Develop budgets and financial plans for the Group of Companies based on research and data reports to achieve the Objective of the Group.
• Proactively Manage cash and provide recommendations to CEO on actions to be taken to meet the potential commitments.
• Performed ad hoc analysis for operational analysis and senior management
• Developed detailed margin and EBIT analysis by customer, by SKU to understand customer profitability and develop strategic P&L improvement strategies.
• Developed and maintain timely and accurate financial statements and reports that are appropriate for the users and in accordance with generally accepted accounting principles.
• Developed and implemented internal financial and accounting policies and procedures.
Kuwait Packing Materials Manufacturing Company K.S.C. C (K-PAK), KUWAIT
Group Finance Manager –December’ 2012 to November 2018
Kuwait Packing Materials Manufacturing Company (K-PAK) has been a leading Manufacturing Company of Foam extruded expanded disposable foam products in the region supplying quality and innovative packaging solutions for the food industry, retail, catering, supermarkets, hypermarkets and fast food service industries since 1986. The company is listed on the Kuwait Stock Exchange, and Head quartered in Kuwait. It has subsidiaries based in United Arab Emirates (U-PAK), Saudi Arabia(S-PAK) and Jordan(J-PAK).
Accountabilities:
• Leading and directing overall Finance department of the Group, review& approve the Budgets, Plans and Performance.
• Created individual financial statements for each of the 6 divisions within the Marketing organization. Presented monthly variance analysis to CEO, division VPs and Chief Marketing Officer for the ultimate achievement of the KWD 1 million annual Marketing expense operating plan.
• Provided financial analysis, such as Net Present Value, Internal Rate of Return and Discounted Payback Period, for operation projects.
• Proactively Manage cash and provide recommendations to CEO on actions to be taken to meet the potential commitments
• Prepared feasibility studies and successfully help company start its operations in Iraq in 2014.
• Monitored company’s financial performance and identified areas for potential improvement resulting in cost reduction by 45%.
• Designed monthly KPI reports identifying trends in financial and operating metrics provided direction for improving performance and achieving goals
• Prepared Business Models for new Product development launching.
• Act as key partner to the CEO, and maintaining strong, collaborative working relationships with the seniorleadership and executive management team.
• Overseeing the external and internal audit functions, review and analyze results and recommend for approval of the audited financial statements by the Board of Directors and Shareholders.
Consolidation of Financial Reports
• Revamped consolidated KPI management reporting to balance operations performance to financial results.
• Timely Consolidation of monthly financial reports for all operating regions of the Organization.
• Prepare monthly Performance reports with detailed analysis of performance for the month comparing its performance over a period.
• Ensure smooth year quarterly review and year end closing and liaising with auditors for the yearend audit on group consolidation level.
• Develop audit template for all subsidiaries to facilitate timely consolidation and completion of Audit.
Budgeting and Forecasting
• Prepare yearly consolidated budget (Financials, Manpower, KPI’s) based on the individual regions inputs and
Presenting to the management.
• Prepared annual budgets, monthly forecasts and 5 year strategic views.
• Performed in-depth gap analysis to address variances from budget. Identified key drivers and underlying root causes . Provided recommended remediation plans, ultimately reducing overages by 10%.
• Consistently achieved greater than 90% monthly budget and forecast accuracy by developing and implementing a functional Sales & Operations Planning process.
Costing and Estimates
• Developing Costing for Products and monitoring the Actual Vs Applied Cost.
• Developing Production Formula for Costing
• Review of standard costing on weekly basis.
Performance Management Reporting
• Weekly /monthly Sales & GP Analysis reports.
• Monthly Inventory & receivables report for reviewing and monitoring the aging.
• Developed an inventory item wise template which calculates short/excess quantities based on multiple parameters such as ideal quantity, stock cover, lead time etc.
• Developed an advanced financial model for studying 8 years trend analysis for individuals regions operating performance (Profitability, growth, Manpower etc).
-Al Shamel International Holding Company Kuwait (K.S.C. C). KUWAIT
Group Financial Analyst and Reporting Manager - (Jun’2010 – Nov’2012)
Alshamel has been a leading travel management group company since 1996 with group sales exceeding USD 500 Million and is listed on the Kuwait Stock Exchange. Head quartered in Kuwait, Alshamel has offices spread in 7 countries of the Middle East region with over 350 employees. Alshamel is the regional partner of Carlson Wagonlit Travel (CWT) in the Middle East region; CWT is a global leader specializing in business travel management.
Accountabilities:
• Preparing consolidated Balance sheets, Profit and loss and cash flow statements for 13 Subsidiaries and Stand alone.
• MIS Reporting for Management.
• Manage daily activities for Accounting, Accounts payables, Cost Accounting and Treasury.
• Manage monthly closing process, including reconciliations and analysis of related accounts.
• Performing financial analysis. Reporting Directly to the Finance Director.
• Communicated with banks, financial advisors of the group to explain results of the group as reported in the financial statements.
• Preparation of monthly and annual management reports, variance analysis reports, monthly sales & revenue report and other financial reports, weekly cash flows.
• Follow up on the reconciliation and ensure that no reconciled items are pending without actions
• Reviewing the accuracy and timelines of all reconciliation.
• Prepare Business wise, Office wise variance analysis reports explaining the reasons for major movements in revenue & expenses between budget, actual and previous month
• Supervising Daily Cash Management reports along with forecasting requirement for whole group.
• Handle the Internal Audits, involved with any required reviews of accounting and administrative controls.
• Manage communications with external Auditors on external financial statements and accounting issues to ensure auditor agreement with company decisions on accounting disclosures and issues.
PREVIOUS ASSIGNMENTS
? Alpha Group General Trading Co. Kuwait, Financial Manager (May ‘2006- May’2008)
? Daidalas Electrical Contracting company, Accounting Supervisor- Bahrain (Feb’2004 - March 2006).
EDUCATION
? Master of Business Administration (MBA)with a specialization in Finance and Marketing.
? Bachelor of Commerce (BCom)with a specialization in Commerce & Accounting.
? Pursuing CPA
INFORMATION TECHNOLOGY KNOWLEDGE
? ERP Systems - Microsoft Dynamics AX
? Accounting packages - Tally, Focus, and Peach Tree.
? MS Office - Word, Excel, MS Visio and PowerPoint.