Experience

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  E.a. juffali & brothers

  Jan 2003 - Jan 2011

  (The Office of Ali Abdullah Juffali – Finance Department) Formation and structuring of Internal Audit function Testing the internal control risk areas (receipt function, payment function, inventory) Testing risk of humanitarian treatment of residents Testing risk of HSE areas and controls breach Conducting semiannual compliance audits Conducting semiannual operational audits Reviewing operational performance reporting criteria Reviewing operational capacity and comparing it with available un-utilized capacity. Review of vouching, posting and general accounting practices Show less (The Office of Ali Abdullah Juffali – Finance Department) Establishment of accounting and finance functions. Formation of the Chart of Accounts.Establishing banking credit lines and banking transaction cycle.Structuring key accounting entities to take over various natures of businesses under one parent company. Ensuring monthly closings of books of accounts and providing monthly business reports.Heading Ali Juffali Donations Portfolio.Preparation of forecasted cash-flow StatementsSupervision of providing basic food basket project.Financial Head of Al Ghazza Buildings – Real Estate Project - Makkah Al Mokarrama.Follow up on various client / owner disputes.Following up matters with municipality and Civil Defense regarding HSE requirements.All Arabic correspondence and accounts translations.Overseeing all Payrolls for Sh. Ali A. Juffali Family.Achievements- Establishment and heading Onaizah Association for Development and Humanity Services.- Capital infrastructure (study/ approval/ review of implementation) Inter departmental controls / approval procedures – financial and otherwise.- Developing accounting department/ allocating roles, responsibilities, document flow, levels ofauthority, jurisdictions.- Setting up bank accounts (expense/revenue/capital)- Operating budget (study/ approval/ disbursement)- Overheads calculation and allocation on functional departments.- Coordinating the erection of Key functional departments (HR, Admin, Technical, and Education) anddevising and implementing the document flow and approval process. Show less (The Office of Ali Abdullah Juffali – Finance Department)Supervision of AR and GL function, approval, review and posting.Preparation and supervision of AP function.Managing bank accounts and providing balance information and requirements to Finance Manager. Closing of Trial Balance and assisting in finalization of books of accounts.Achievements- Creating 6 new accounting entities.- Implementation of Quickbooks software and overseeing Migration from Juffali Information System- Implementation of Cheque and Transfers Printing System- Developing Reporting Formats Show less

  • Internal Auditor | Risk Control | Financial Reporting | Analysis | Functional Testing | Review

    Jan 2009 - Jan 2011

  • Assistant Finance Manager | Accounting | Cash Flow Management | Internal Controls | Approval Process

    Jan 2004 - Dec 2008

  • Management Accountant | General Ledger | Receivable | Payable | Financial Reporting | Review

    Jan 2003 - Dec 2003
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  Albalad alameen for development and urban regeneration

  Feb 2011 - Oct 2011

  Chief accountant | finance manager | accounting | auditing | planning budgeting & forecasting

  Establishment of accounting and finance function from scratch.Providing finalized books of accounts for the first long financial period as per SOCPA. Working with the Auditors to get the financials audited.Working with the Zakat Advisor on Zakat filing issues.Implementing the first Financial Software (Quickbooks) and (SAP B1) for the company. Implementing and organizing the payroll structure as per Saudi Labor Law and GOSI. Advising the CEO on proposed financial feasibility studies for new projects.Providing Cash Flow Projections and providing guidelines for budgeting and planning.Closely working with the top notch consultants (SWICORP, World Bank, E&Y Global, Delloitte & Touche Global) providing them with the conceived ideas at ABAM's level and critically reviewing and analyzing the submitted reports.Achievements- Migration of accounting records from Makkah Municipality (Govt. Entity) to ABAM new Accounting and Finance function.- Working in PPP model and establishing legal entities on Royal Decree as SPVs on sectors such as tourism, mass transport, Contracting and real estate development.- Established new Chart of Accounts, implementation of accounting software (QUICKBOOKS) and establishing new accounting department.- Structuring and formation of JVs and new SBUs. Show less

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  Jamjoom medical industries co. ltd.

  Nov 2011 - Jul 2017

  OGSM strategy building committee member.Executive Committee member.Meeting with various dealers and agents in the same business to negotiate new business / ventures.Working with the production team to gauge and plan for the material orders and arrangement of sufficient working capital.Arranging credit facilities with various banks for working capital and CAPEX requirements.Monitoring credit facility utilizations with several banks to maintain sufficient working capital levels. Brokering insurance policy, getting risk portfolio analyzed and negotiating rates and services.Business Model Health Analysis and update.Cost rationalization initiatives to bring efficiency and minimize fiscal footprint.VAT implementation and ERP readinessIFRS reporting and ERP readinessHeading ORACLE financials implementation. (AP, AR, GL, HCM, CM)Achievements- Achieved SAR 1B+ in credit lines through Saudi Banks, MOH Governmental supply contracts.- Negotiated roll-over of Working Capital Loans for 2 years valued at SAR 500M p.a. for GovernmentalContracts.- Analysis and improvement of BOM of key products, COGS reduced by 15%, GPM% improved by 19%.- Reduce costs and losses, achieved SAR 25M+ in cost reduction.- Recovery of Insurance Claim (Warehouse Fire), 100% recovery, SAR 60M+.- ERP implementation lead team member, successful go live in 6 months, ORACLE R12.- Quickbooks implemented for JV operations.- Creating new manufacturing JV with Chinese partner, Migration of production facilities to China,reduced manufacturing overheads by more than 60% and improved GPM by 40%.- Formation of new manufacturing JV with German Partner to supply new product to LOREAL from KSA- Restructuring of Finance, Accounting and Planning function, cost reduced by 25%, Saudizationachieved 40%. Show less Finalization of monthly / yearly books of accounts and providing periodic financials.Managing periodic stock checks.Formation and execution of inventory control function to streamline warehousing operations. Structured chart of accounts to cater for the reporting needs.Providing budgetary monitoring and approvals.Making forecasted cash-flows. (Short term / Long term)Arranging for annual audit and completion of Zakat filing.WIP working. (COGS / COGM workings)Managing costing structure and providing review and monitoring of costs.Arrangement of assets insurance.Arrangement of LC’s / LG’s as per requirement.Overseeing budget preparation, review and monitoring. Achievements- Revised and implemented Chart of Account to adopt IFRS compliant cost allocation in manufacturing.- Established Database to monitor credit lines utilization.- Restructuring Finance Department and Saudization Show less

  • Head of Finance | CFO | Cross-Team Collaboration | Business Model | Joint Ventures

    Apr 2014 - Jul 2017

  • Financial Controller | Accounting | Forecasting | Operational Streamlining | Cash Flow Management

    Nov 2011 - Mar 2014
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  Obeikan investment group

  Aug 2017 - Mar 2018

  Director | finance | cfo | financial reporting | cost reduction | project feasibility

  (Heading 3 entities – Obeikan Rigid Plastics, Obeikan Flexible & Film, Obeikan Graphic Center) Industry: Food, Packaging, Manufacturing, PET, HDPE, Bottling, Caps, Printing.Heading the finance operations and cash flow management.VAT implementation as per Saudi Tax LawIFRS implementationRestructuring the costing model – Application of Overheads and Indirect Materials.Internal Audit review and implementation of the findingsProject feasibility studies – Providing quotations to Leading Milk, Dairy and Juice manufacturers e.g. AlMarai, Safi, Nadec for providing HDPE bottles, PET preforms and Bottles, Caps, Labeling, Printing and Packaging.Business Model Health Analysis and update.Employee cost reduction planBudgeting and planning for 3 companiesERP readiness for VAT, IFRS, Costing and Cost reductionAchievements- Analysis and improvement of BOM of key products, COGS reduced by 4%, GPM% improved by 7%.- Reduce costs and losses, achieved SAR 6M+ in cost reduction, management cost reduced by SAR 4M,Operational Cost reduced by SAR 2M- IFRS and VAT implementation. Show less

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  Al mutlaq furniture

  May 2018 - Nov 2020

  Director | finance | cfo | revenue & profit growth | p&l management | ifrs | cost reduction

  Instituting & executing high level financial strategies, making high-stake decisions and overcoming complex business challenges using experience-backed judgment, strong work ethics and irreproachable integrity, wherein directing 3 entities – Al Mutlaq Projects, Al Mutlaq Retail, Al Mutlaq ManufacturingDesigning financial strategies for meeting the short and long term needs of the company; managing capital requests, budgeting processes and developing performance measures in alignment company’s goals. Formulating decisions on the formation of subsidiary companies for effectively structuring the operations and achieve business & operational excellence through the implementation of best practicesCreating and sustaining a dynamic environment that fosters the development opportunities and motivates the high performance amongst the team membersFacilitating cost rationalization initiatives and operational re-engineeringAccomplishments:Pivotally contributed as Acting General Manager of AMF from Sep’19 to Apr’20- OGSM short, medium and long term strategy building- 5 year business plan for medium and long term visibility and forecasting- Track record of developing product matrix to gauge product performance and improve profit margins, inventory reduced by SAR 30M, GPM% improved by 15%, Manufacturing GPM% improved by 10%, Projects GPM% improved by 12%Ensured effective implementation of Cash Management Module, Landed Cost Module, VAT module, P.O. Approvals, Pricing Approvals, and Discount ApprovalsWorked on IFRS implementation and first IFRS auditSaved SAR 10M+ on prior year Zakat review with GAZT.Acknowledged for restructuring Finance Function across 3 entities, costs reduced by 40%, Saudization achieved 80%Arrangement of Project Financing of SAR 100M for various Fit-out ProjectsBOM optimization – RM cost reduced by 13%, OH reduced by 7%, GPM improved by 10%Chart of Accounts Optimization – Created hierarchical clearing accounts to monitor reconciliations Show less

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  Khayira holding company

  Dec 2020 - Aug 2024

  Chief financial officer

  Industry: Corporate Finance, Industrial Equipment, Water Technologies, Industrial Chemicals.Role: Heading core areas of Finance, supply chain, HR and IT.Devising corporate governance framework for the group of companies.Performing as change lead to implement financial and operational controls.Creating policies and procedures, implementing and training.Collaborating with stakeholders while keeping them informed of progress and issues in order to manage expectations on all requirements and deliverablesDesigning financial strategies for meeting the short and long term needs of the company; managing capital requests, budgeting processes and developing performance measures in alignment company’s goalsFormulating decisions on the formation of subsidiary companies for effectively structuring the operations and achieve business & operational excellence through the implementation of best practicesCreating and sustaining a dynamic environment that fosters the development opportunities and motivates the high performers amongst the team members ERP implementation lead – creating a uniform cloud based ERP solution for the group of companies.Establishing bank credit facilities – negotiating credit facilities and creating as per the requirement of each company.Establishing export operations and foreign subsidiaries. Show less

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  Syarah

  Aug 2024 - now

  Chief financial officer