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Chief FInancial Officer

Location:
Egypt
Posted:
December 04, 2017

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Asif Majeed Shaikh

Address: Cairo, Egypt

Phone: + (20) 122 *** **** Email: ac3k56@r.postjobfree.com

Profile URL: linkedin.com/in/asif-majeed-shaikh-37044119

CFO/Finance Director/Head of Finance

Career Brand – Fellow member of Institute of Cost and Management Accountant and Senior Finance leader with over 24 years’ experience in implementing strategic and annual business plans to achieve both long-term and short-term objectives.

Valuation /Budgeting /Accounting /Audits – Expertise in managing the company’s end-to-end audit process and overseeing long-term budgetary planning and costs management in alignment with company’s strategic plan.

Financial Leadership – Track record of implementing of policies, procedures and internal control mechanisms to ensure the expenditure of funds and recording of transactions are in compliance with General Accepted Accounting Principles (GAAP).

Management Reporting and Decision Making – Full accountability for accuracy of financial reporting, robust controls and risk management while offering commercial advice to senior management ensuring informed decision making.

Operational Excellence – Skilled in coordinating day-to-day operations of the company, as well as enhancing processes and infrastructure to allow the organization to grow and achieve its goal.

People Development – Hands-on experience in leading development of the skills, capabilities and business awareness of team members as well as arranging and providing appropriate up-skilling through training and cross training.

Relationship Management – Adept at developing strong relationships with the lending community and leveraging these relationships to successfully refinance the company in both favourable and challenging credit market environments.

CORE COMPETENCIES

Corporate Strategy/Financial Operations Remodelling/Restructuring /Transformation Reporting and Performance Analysis Contract Negotiations /Due Diligence Stakeholder and Board Level Liaison Process Optimisation / Change Management Tax /VAT Management and Optimization Assess Financial and Operating Risks Create/Modify Policies Procedures Mergers and Acquisitions/ Joint Ventures Coordinate Internal and External Audit Fund Management and Investment Developing Partnerships and Alliances

KEY ACHIEVEMENTS

Successfully strengthened the company’s business by leading the implementation process of Oracle in EFC; directly improving the overall business processes as well as reducing inventory value and expediting the receivables collection process.

Lead the integration process of EBIC and EFC to bring the both companies under joint management control that resulted in cost and resources optimization and annual cost savings of over $15m.

Played a key role in developing a strategy for cost reduction and additional earnings by creating a separate maintenance company by using the in-house maintenance staff to cater the maintenance requirement of fertiliser plants of group and third party plants resulting in cost savings of over $4M per year and additional revenue of $15M from the new company.

Competently assisted in restructuring and turning around the entire finance and IT departments of EFC by enabling a man-power reduction of around 24 employees thereby saving $0.5M per year.

Skilfully negotiated with Exim bank US and facilitated the early retirement of a costly $ 350M loan for the EBIC facility.

Successfully negotiated an additional loan of $ 100M for EBIC from Arab Bank at very economical pricing.

Instrumental in the refinancing of the EFC loan facility with IFC and other commercial banks of $600M for an additional period of 3 years thus ensuring excellent cash flow within the organisation.

CAREER HISTORY

Egyptian Fertiliser Company (EFC)

Sep 2013 – Present

Chief Financial Officer and Board Member

Egyptian Fertiliser Company (EFC) is a 100% owned company of OCI Fertiliser Group, a Dutch public listed company.

Responsible for overall financial control, financial reporting and financial supervision while improving, monitoring and controlling company policies and procedures.

Maintaining strong relationship with lenders/financial institutions as per organisation’s requirements.

Effectively dealing with commercial banks for different credit facilities such as long/short term loans, overdraft facilities, letters of guarantees, local and foreign letters of credit.

Conducting cash flows forecast, allocations, delivering presentations to management on performance analysis, financial highlights, and variance analysis, monthly, quarterly and annual financial and budgetary evaluations.

Managing dealing matters regarding VAT, income tax and corporate laws, coordination with legal/tax advisors and government departments.

EBIC Petrochemical and Ammonia Plant

May 2011 – Present

Chief Financial Officer and Board Member

OCI Fertilisers, a Dutch public listed company, is the majority shareholder of EBIC

Handled the entire finance and IT related issues of company including overall financial control, financial reporting and financial supervision.

Improved, monitored and controlled company policies and procedures while maintaining relationship with lenders/financial institutions as per organisation’s requirements.

Efficiently dealt with commercial banks for different credit facilities such as long/short term loans, overdraft facilities, letters of guarantees, local and foreign letters of credit.

Managed the cash flows forecast, allocations, presentations to management on performance analysis, financial highlights, variance analysis, and monthly, quarterly and annual financial and budgetary evaluations.

Resolved matters regarding VAT, income tax and corporate laws, coordination with legal/tax advisors and government departments.

Orascom Construction Industries

Mar 2010 – May 2012

Financial Director

Worked on detailed organisational study of Orascom Construction Projects and Departments.

Carried out business process documentation and redesigning for optimising the processes as well as Oracle implementing.

BURHAN Holding Company

Aug 2008 – Mar 2010

Chief Financial Officer

Led the finance team of Burhan International Construction Co. Kuwait and managed all financial and accounting activities at Kuwait and its international operations.

DESCON Engineering Limited

Aug 2002 – Jul 2008

Company Financial Controller

Accountable for heading the finance department and directly reporting to the CEO.

Responsible for group consolidation and functional reporting lines with all financial controllers of local and overseas operations / JVs.

EARLY CAREER

KSB Pumps Company Limited

Jun 1995 – Jun 2002

Manager Finance

Indus Polyester Company Limited

Jul 1993 – Jun 1995

Manager Finance

IT SKILLS

Sound working knowledge on major software packages for Accounting and Finance including ERP Systems.

Hands-on experience of Microsoft Dynamics, Oracle and SAP implementation.

SPECIAL ASSIGNMENTS

Business Process Reengineering (BPR) at KSB Pumps

Sep 1998 – Mar 1999

ERP Implementation at KSB Pumps Pakistan

Apr 1999 – Jan 2000

ERP Implementation at KSB Ajex Australia.

Feb 2000 – Sep 2000

EDUCATIONAL QUALIFICATIONS

Certification from LIFA (Licensed International Financial Analyst) USA

2006

Fellow Member of Institute of Cost and Management Accountant of Pakistan

2004

Associate Member of Institute of Cost and Management Accountant of Pakistan

1999

PERSONAL DETAILS

Date of Birth: 25th Dec, 1965

Nationality: Pakistani

Marital Status: Married

Driving Licence: Egypt/Pakistan

References available on request



Contact this candidate