Seasoned CFO
Resume:
Curriculum Vitae
Hisham Mohamed Abdul Shafi
******.**********@*****.***
Mob. +20-128-***-**** – Cairo, Egypt
Selected Proven Areas of Expertise
Organizational Leadership, Executive Management, and Risk Management,
Planning, Budgeting & Cost Management,
Organic Growth & Expansion Strategies,
Purchasing, HR, and IT Management,
Change Management,
External & Internal Auditing,
Profitability & Cost Analysis,
Systems & Technology Utilization,
Team Building & Performance Improvement,
Working Capital Management,
Financial and Management Reporting,
Fund Management,
Board & Subcommittees Experience,
Professional Experience
A Leading Holding Co. – Cairo, Egypt – Jan. 2016 – Present
Group Chief Financial Officer
The Group is involved in Retail, Manufacturing, Trading, and Construction businesses.
Essential Responsibilities
Direct day-to-day financial management and accounting, HR, and IT functions.
Direct and oversee issuance of monthly, quarterly, semi-annual and annual financials in accordance with IFRS and local requirements.
Develop finance organizational strategies by contributing financial and accounting information, analysis, and recommendations, and establishing functional objectives in line with organizational objectives.
Establish finance operational strategies by evaluating trends, establishing critical measurements, determining production, productivity, quality, and customer-service strategies, designing systems, resolving problems, and implementing change.
Develop Group prospects by studying economic trends and revenue opportunities, analyzing Group operations, identifying opportunities for improvement, cost reduction and systems enhancement.
Monitor financial performance by measuring and analyzing results, initiating corrective actions, and minimizing the impact of variances.
Planning and monitoring the financial resources of the Group to ensure that sufficient funds are available to meet the short and long-term commitments.
Oversee, updating, maintenance and implementation of new policies and procedures in respect of finance and accounts, HR, IT functions.
Evaluate performance and profitability of the projects on periodic basis jointly with the technical mangers and provide feedback and suggestions.
Liaise with external and internal auditors.
Liaise with banks, consulting and insurance agencies.
Manage the ERP project in all affiliates and new branches and businesses.
A business partner to the Board in setting/updating strategies and preparation of long-term business plans for the Group.
Oversee preparation the annual budgets for the Group, jointly with the senior managers.
A business partner to the Board to implement the corporate governance system.
A Business partner to the Board in measuring and managing the Enterprise Risk.
A business partner to the Board to manage the group’s activities in accordance with the best practice.
VCON - Saudi Arabia – Oct. 2014 – Nov. 2015
Chief Financial Officer
The Company is a leader in the industry in Saudi Arabia with strength in traditional construction methods, and creative, fresh approach to cutting-edge technologies and delivery systems.
Essential Responsibilities
Partnering the CEO in setting strategy and preparation of long-term business plans for the company.
Direct and oversee implementation of all non-technical aspects of the strategy and business plans.
Participate in key decisions as a member of the executive management team.
Manage relationships with all critical stakeholders (key customers, relevant government departments, suppliers, consultants).
Oversee preparation of the company annual business plan and budgets jointly with the senior technical managers.
Planning and monitoring the financial resources of the company to ensure that sufficient funds are available to meet the projects and operations commitments.
Direct maintenance and implementation of policies and procedures in respect of finance and accounts, human resources and personnel management, administration and information systems functions.
Direct the day-to-day financial management and accounting, HR, and IT functions.
Liaise with external and internal auditors, banks, financial, and insurance agencies.
A business partner to the CEO in measuring and managing Enterprise Risk including strategic, financial, operational, development, and commercial risks.
Evaluate performance and profitability of the projects on periodic basis jointly with the technical mangers and provide feedback and suggestions.
Direct and oversee issuance of monthly, quarterly and annually financial statements in accordance with IFRS and local requirements.
Issue quarterly financial reports including actual vs. budget analysis and management reports.
Notable Achievements
Successfully managed the “Classification” file with the governmental authorities.
Successfully managed the company’s file with ARAMCO.
Submitted and presented a report with analyses of offers from three consulting firms, and recommendation to have and implement a new and proper ERP system to professionally serving all the Financial, Administrative, and Technical processes in the company.
Successfully re-organized and re-established credibility of the Finance & Accounting functions, and managed the issuance of the financials in cooperation with an accredited audit firm, and in accordance with IFRS and Saudi governmental and banking requirements.
Successfully managed the P/L cycle enhancements, monitoring expenditures, spending trends, and achieved descent indirect cost saving.
Re-organised and improved the periodic financial and management reports.
Prepared the Human Resources Policies and Procedures Manual in accordance with the Labour Law.
Initiated the Financial and Administrative Authorities matrix.
Mishnan Holding Co. - Saudi Arabia - July 2013 – Aug. 2014
Group Chief Financial Officer
The Group is specialized in oil & Gas business, petrochemical industries, construction, Trading, Manpower Supply, Manufacturing, and heavy industries sectors.
Essential Responsibilities
Partnering the CEO, VP, GMs, in business planning, driving performance, and management of all business operations with focus on profitable growth.
Assist in formulating the group's future direction and supporting tactical initiatives.
Define standards, policies, procedures, measures, and organizational enhancements to meet the group's goals for finance.
Financial forecasts and Budgeting collaboratively with other management team members.
A business partner to the CEO, VP, GMs in measuring and managing Enterprise Risk including strategic, financial, operational, development, and commercial risks.
Regularly monitor and work closely with the senior managers in taking timely action to ensure that budgets and financial plans stay within approved levels.
Manage the group's cash funds to ensure it is consistent with group's laid policy.
Direct and oversee issuance of monthly, quarterly and annually financial statements in accordance with IFRS and local requirements.
Issue quarterly financial reports including actual vs. budget analysis and management reports.
Liaise with external and internal auditors, and insurance agencies.
Improving financial discipline and control through strong MIS and performance measurement & reviewing systems, and ensuring proper reporting.
Develop policies, processes, and systems on investments, CAPEX, inventories, accounting, budgets, and financial reporting.
Notable Achievements
Successfully re-organized the Finance & Accounting functions, and managed the issuance of the financials in cooperation with an accredited audit firm, and in accordance with IFRS and Saudi governmental and banking requirements.
Improved the periodic financial and management reports.
Submitted detailed and comparison financial reports to the CEO and VP explaining the financial performance of the group with the related recommendations.
Submitted a report to the CEO and VP with recommendation to manage the group as a joint stock company, and to implement the Corporate Governance.
Presented the financial and legal recommendations to the CEO and VP to adjust the financial records of the manufacturing affiliate that affected positively the bottom line and protected the company against one of its major suppliers.
Re arranged the bank facilities agreements to serve the group in more practical and economical manners.
Submitted a report to the CEO and VP regarding one of the group investments in a steel company, with recommendations to reassess this investment resulting a decision to exit for lack of financial and economic feasibility.
Bahrain Flour Mills Co. (B.S.C.) – Manama, Bahrain – April 97 – July 2013
Deputy General Manager
Finance & Administration Manager
The company is a Joint Stock Company, involved in the procurement of wheat grains to manufacture Wheat Flour, Wheat Bran, Crispy Traditional Bread and wide range of other Wheat products.
Essential Responsibilities
Cooperate with the GM to monitor the company’s progress against objectives to take corrective management action to improve performance where necessary.
Cooperate with the GM to translate corporate goals and objectives into action plans, and to delegate necessary authority to enable goals and objectives to be met.
Contribute to the GM, and Committee's recommendation to the Board concerning the company's corporate strategy and operations as a key member of the Executive Management.
A business partner to the GM in measuring and managing Enterprise Risk including strategic, financial, operational, development, and commercial risks.
Provide sound and timely financial management decisions and internal controls through evaluation of operations and other key information to the GM, Executive Committee and Board.
Fostering cost consciousness within the company through design, implementation and maintenance of effective tactics to reduce cost and achieve increasing the return to shareholders.
Planning and monitoring the financial resources of the company to ensure that sufficient funds are available to meet any future commitments, furthermore to ensure any surplus funds are invested in accordance with the laid-down policy.
Direct and oversee issuance of monthly, quarterly and annually financial statements in accordance with IFRS and local requirements.
Issue quarterly financial reports including actual vs. budget analysis and management reports.
Recruit, lead, develop and appraise the finance, IT, HR and purchase teams by advising on internal and external training sessions to ensure the teams are highly motivated and well trained to meet business requirements and goals.
Direct and oversee Finance & Accounting, Purchasing, HR, and IT functions, and with dotted lines oversee Sales & Marketing, QC and Operations functions, and setting the performance criteria with the head of these departments to monitor performance with each on a regular basis.
Oversee Preparation & Implementation of financial, administrative and capital budgets; and developing action plans, measuring and analysing results, initiating corrective actions, minimizing the impact of variances.
Liaise with Internal and External Auditors, National Audit Court, and Ministries of Commerce and Finance.
Regularly monitor and examine policies & procedures of Finance & Accounting, HR, Purchasing, and IT.
Maintain banking and insurance relations.
Attend Board and subcommittees meetings as a member of the executive management, and Board Secretary for 13 years.
Notable Achievements
Managed the company, and performed good results (FY 97, 98, 03, 07, 08 and 09 as the Acting General Manager) from operations thru implementation of operations and P/L cycle enhancements, monitoring expenditures, spending trends, and diversifying the sources of the raw materials and potential risks.
In Yr. 2008 with collaboration of the Operations Manager presented and managed a CAPEX Budget by US$ 8 Million to replace the old machines & equipment's with the latest technology, to improve the operations process (production, packing, QC, maintenance, and wheat silos), enhance the quality of products, and achieve decent cost saving particularly in wheat off-loading process.
Developed the wheat procurement cycle and related procedures and controls, led to restore the confidence of the international grains suppliers in the company's directions, and achieved sound financial and technical results.
Led and managed the start-up and implementation of new Enterprise Resource Planning System based on Oracle database.
Improved the cash flow thru the development of 'best practices' policies and procedures in cash management, A/R management, purchases management and billing collection.
Led the achievement of the goal of certification of ISO 9001:2008 (Management System Certificate).
Successfully re-organized and re-established credibility of the Finance & Accounting, HR, Purchasing, and IT functions.
In 2007, prepared and presented the strategic and financial study of the New Grain Silos Project to increase the capacity of grain storage of the company to serve the kingdom for 6 months; and was a member of the committee responsible for the project that constructed at a cost of US$16 Million.
In 2009, prepared and presented the preliminary report of New Mill Project (US$35 Million) and related facilities, to increase the production capacity of the company to meet the annual demand increase on its products.
Assisted the GM in preparation and presentation of the company’s Corporate Governance Manual and implementation of the system as well.
Abdullah Hashim Group – Jeddah, KSA - December 90 – March 97
Assistant GM – Finance
Abdullah Hashim Group is involved in Industrial Gases Manufacturing, Trading, and Retail Businesses.
Essential Responsibilities
Supervise five branches accounts managers and their subordinates, and three accountants in the HO.
Ensure the company's financial records are accurate and that they are in accordance with both statutory requirements and the International Accounting Standards.
Regularly monitor and examine the company’s internal controls to take the necessary actions if a development is required, and to ensure that the controls are reliable.
Issue monthly, quarterly, and yearly financial statements, performance reports, analysis of accounts and management reports.
Develop & implement accounting policies and procedures and insure proper internal controls in place.
Coordinate with the GM - finance and all other departments to prepare and review the annual financial & operating budget.
Raw materials finished goods, fixed assets, and spare parts costing and variance management.
Working capital and cash flow forecasting and management.
Liaise with the External Auditors, banks and insurance agencies.
Arthur Andersen & Co. (International Auditing, Accounting, and Consulting Firm) – Cairo, Egypt
February 86 – December 90
Audit Manager
Essential Responsibilities
Preparing audit plans & programs for the audit team, and supervising the entire audit process.
Issuing financial statements & management reports for clients, along with comments, observations, and recommendations.
Setting and implementing accounting & financial systems, policies and procedures, including internal controls for clients.
Presenting technical assistance, financial consultancy and business advisory for clients.
Egyptian American Bank – Cairo, Egypt – August 83 – February 86
Accountant
Responsibilities
Various responsibilities in Accounting and Treasury departments.
Computer Skills – Software Package
MS Office, and Enterprise Resource Planning System based on Oracle database.
Education, Qualifications, and Affiliations
Bachelor of Commerce, Accountancy - Ain - Shams University, Cairo – Egypt - May 1982.
Member and Fellowship of “The Egyptian Society of Accountants & Auditors (ESAA)“ – The Institute of Chartered Accountants of Egypt.
Licensed as Certified Public Accountant, Egypt.
Personal and Contacts Details
Date of birth July 19th 1958
Nationality Egyptian
Languages Arabic Mother Tongue
English Second Language
Hobbies Reading, Walking, and Swimming
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