Sherif Emara, CPA

Experience

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  Deloitte

  Jul 1999 - Dec 2002

  Deloitte one of the Big Audit Firms across the Globe has more than 200,000 professionals at member firms delivering services in audit, consulting, financial advisory, risk management, tax, and related services in more than 150 countries and territories.During that period, i owned a portfolio to complete the annual audit & quarterly reviews in multiple sectors, especially Oil & Gas and trading sectors;•Assisted audit manager in the performance of complex audit assignments and investigations, often undertaking specific elements of the assignment with minimal supervision;•Completed allocated work within required time and budgets and ensured that audit engagements are completed in accordance with International Financial Reporting Standards (IFRS) and International Auditing Standards;•Having a successful track record of auditing companies financial records, bookkeeping and accounting methods to identify efficiency improvements that maximize assignments profitability;•Became the subject matter expert within Deloitte Egypt for Oil & Gas companies and leveraged my expertise among the team Show less

  • Senior External Auditor

    Jul 2000 - Dec 2002

  • External Auditor

    Jul 1999 - Jul 2000
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  Industrial Modernisation Centre

  Jan 2003 - Apr 2006

  Cheif Accountant

  The Industrial Modernization Centre (IMC) was established by a Presidential Decree in December 2000 to give an impetus for a sustainable, modernized, vibrant and competitive Egyptian industry. The aim is to support the industrial enterprises, create an enabling business environment for the industrial sector, in coordination with the Ministry of Industry, Trade and SMEs.• Reporting to Financial controller, I was responsible to provide analysis and advice to the financial controller on the potential implications of proposed changes in accounting rules, policies and legislation & government rules. • Developed for all statutory reporting to Ministry of Industry, Cabinet Office and other external stakeholders• Worked with Directors and Heads of Department across the organization to ensure risks associated with the production of the annual report and accounts are identified and managed accordingly• Managed the medium- & long-term cash forecasting process and reporting the cash requirements Ministry of finance of Ministry of Industry• Produced, as required, any Ad Hoc reports required by the Ministry of Industry and Board of Directors Show less

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  European Commission

  Jul 2003 - Feb 2006

  External Consultant
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  Egyptian Competition Authority

  May 2006 - Mar 2008

  Head of Financial Planning & Analysis

  The Law No.3 of 2005 on the Protection of Competition and the Prohibition of Monopolistic Practices, followed by the issuance of the Executive Regulations, is a cornerstone of free market economy that assures free competition and free entry to and exit from the market based on economic efficiency. The law provided for the establishment of an Authority, responsible for monitoring the market and enforcing the provisions of the Law. It receives complaints and notifications and can initiate inspections when in doubt of malpractice that may harm competition and is in violation of the provisions of the law. The main purpose of the law is for the welfare of the public providing for the developments of a variety of products and services at fair value.• Reporting to Managing Director, I was responsible for developing financial forecasts, complex statistical analysis and generating internal management reports and preparing reports and recommendations to the Prime Minster to ensure necessary strategic decisions taken. • Succeeded to prove cartel agreement in cement sector that resulted to reduce cement prices by 20%• Provide support and financial guidance to companies to assist them in complying with the Egyptian competition law. • Review financial statements and internal reports of the inspected companies compared to their pricing methodology and their practices to ensure free competition.• Developed financial & valuation models to evaluate industry operating performance and efficiency; Show less

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  International Monetary Fund

  Jan 2007 - Jul 2008

  External Consultant
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  Orascom Telecom

  Mar 2008 - Jun 2011

  Group Finance Manager

  Orascom Telecom is a holding company that has investments in companies with operations in Egypt, North Korea, Lebanon, Pakistan, and other North African and Middle Eastern countries. • Reporting to the Group CFO, in this role I was acting as financial controller for 2 mobile operators in Africa and North Korea• Support the preparation of business plans across the Group, feasibility studies, financial statements, financial analysis, projections, and information including due diligence process financial statements.• Supported the start-up of North Korea Mobile operator with annual turnover of $10M & creating entire financial accounting sheets before Oracle implementation• Partnered with European consultants to develop corporate accounting manual and procedures to be implemented within the Group.• Increased efficiency; redesigned financial statements for foreign group parent, reviewed hundreds of local accounts, then remapped statements for more relevant and reliable data and avoid edit checks;• Led accounting team in driving cost-reduction initiatives that resulted in €2 million saved over three years through process automation• Developed monitoring/reporting tools and presenting the financial performance throughout the year,• Monitored cash reserves and investments in addition analyzing revenues and expenses (including both forecasts and actual)• Increased efficiency; redesigned financial statements for the group, reviewed hundreds of local accounts, then remapped statements for more relevant and reliable data and avoid edit checks. Show less

• 

  GE

  Jul 2011 - Dec 2017

  In this role, I’m responsible for all Record to Report activities in Egypt Finance Shared Service Center covering Middle East, Turkey, and Africa (META), which includes providing leadership across all project's aspects of the META Finance Shared Services function. My scope of responsibility ranges from transitioning the record to report activities of multi-millions GE businesses, sustaining the performance through measurable, clearly defined Service Level Agreements, optimizing the process, to yield further economic benefits & cost reduction. In addition, I drive continuous improvement in Performance Management to provide the Leadership with effective reporting environment & decision-making support. • Reporting to META Financial Controller & Leading 40 team members to oversee the full spectrum of the shared service accounting activities across the region• Startup of the accounting Shared Service Operation in Saudi & Egypt• Responsible to create blueprint of Shared Service Center• Lead the transformation of accounting operations to the shared service center for 21 Countries• Responsible to build a team of professionals to support Record to Report activities for GE business in META & ensure the financial accounts are accurate and in compliance with U.S. GAAP and GE policies.• Functional ownership of general ledger related aspects and oversight of all other financial functions of the Shared Service Center for 120+ entities across the region • Service delivery for the accounting operation of GE Oil & Gas businesses across MENAT• Responsible for designing and implementing service level agreements with all business stakeholders• Provide quarterly business reviews to evaluate business performance and ensure alignment with overall corporate objectives• Manage variety of finance transformation projects & initiatives in META region Show less In this role, I am responsible for establishing & maintaining control environment, ensuring accurate & timely financial reporting in a cost effective manner, while promoting the highest standards of integrity, compliance and ethical conduct within the organization. In addition i Collaborate with senior leadership in regional projects, due diligence & internal audit as well as periodic improvement of financial processes & reporting tools. •Reporting to Middle East & Turkey Controller & Leading 15 team members to oversee the full spectrum of all business across North East Africa with annual turnover of $300 million•Ensure compliance with US GAAP accounting policy and GE account reconciliation requirements•Lead monthly and quarterly financial closing cycles for the region•Preparing, variance analysis and Balance Sheet reviews with regional CFOs•Implement & monitor internal controls on all financial cycles including closing and reporting, order-to-payment, and invoice-to-cash-receipts•Integrated and stabilized 5 legal entities acquired and considered as ground support and focal point during the acquisition phase•Perform reviews of account reconciliations and identify areas to improve quality•Successfully implemented Oracle across the countries and actively managing the implementation challenges•Liaised with Biz Leaders on pain areas for improvement & simplification to drive service excellence;•Mentor, develop and retain talents with a long term strategic mind-set and consideration for the ongoing evolution of Finance.•Understand the key profit and cost drivers in the business, ensuring that risks are highlighted & mitigated in an efficient manner.•Participated in key decisions pertaining to strategic initiatives, operating model and operational execution•Successfully managed several complex post-acquisition transition and integration phases•Led & participated in numerous regional projects that drove simplification Show less

  • Global Shared Service Senior Manager - Accounting Operations

    Nov 2016 - Dec 2017

  • North East Africa Finance Manager

    Jul 2011 - Oct 2016
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  MSC Mediterranean Shipping Company

  Jan 2018 - now

  In this role I am reporting to chairman & CEO, leading 75 team members to oversee the full spectrum of the Finance, business development and procurement functions. Scope of responsibility ranges from transitioning the finance activities of multi-millions MSC businesses, sustaining the performance through measurable defined Service Level agreements, and optimizing the process, to yield further economic benefits and cost reduction• Conducted a comprehensive review of the accounting function resulting in a significant upgrade of the accounting systems and reporting structures together with the introduction of a strategic business plan of the department and the development of previously non-existent key performance indicators of the team• Introduced financial reporting to the Board of Directors in addition to financial audits, change management process and several internal controls• Development financial modeling for business development proposed assessment• Manage relationship with external strategic partners to obtain favorable terms• Direct comprehensive financial and accounting functions for entire organization, from setting strategy and initiatives to quality assurance, financial analysis, and reporting Show less

  • Chief Financial and Business Development Officer

    Aug 2020 - now

  • Country Chief Financial Officer

    Jan 2018 - Aug 2020