Finance Manager
Resume:
Ehab Naoum
Cairo - Egypt
Mobile Phone Numbers: +201*********
E-mail: **********@*****.***
Work Experience:
GE Healthcare
Senior Commercial Finance Manager ICP & ACP - Africa 2016 – Present
Duties:
* Lead GE Healthcare commercial finance, business planning cycles and key augmentation elements for indirect channel partners “ICP” and affordable care portfolio “ACP” across Africa.
* Strategize growth improvement by challenging key drivers and status quo, improving financial forecast process, enhancing management performance measures, improving execution discipline and driving stronger management accountability.
* Direct timely closure and reporting of accounts on quarterly basis, in addition to preparation and presentation of analysis for quarterly results highlighting key drivers for both the positive and negative impacts.
* Partner with different commercial, treasury and functional teams for supporting new deals and structuring financial terms that emphasize collectability and mitigate foreign currency fluctuation risk.
* Drive productivity matrix to reduce different cost items and enhance efficiency.
* Establish and lead regular operational mechanisms with commercial teams for sales growth through forming proper financial solutions suitable for each sub-region or specific deals.
* Structure and develop contracts, payment terms, financing proposals and manage the fulfillment of engagements according to different markets and/or customers’ requirements.
* Enfranchise Indirect Channel Partners “ICP’s” through creation of dashboard for monitoring as well as enhancement of orders taking and sales execution.
* Guide the commercial team for the methodology optimizing the use of customers/ICP’s credit lines. GE Healthcare
Senior Commercial Finance Manager - NEA
2009 - 2016
Duties:
* Project and improve cash flows thru predicting future trends in addition to redirecting deals and cash to LCT regional pipeline.
* Censor the contribution margin against the operating plans for different P&Ls and modalities. Challenging the status quo and cutting international freight costs thru emphasizing the alteration of the routes for inexpensive one.
* Structure deals & selling contracts to secure payments, mitigating risks and comply with GE GAP for revenue recognition standards.
* Arrange new sources of financing thru bank facilities as discounting bills and factoring receivables at lowest rate possible to improve balance sheet metrics.
* Monitor the progress of execution for the deals and approving the revenue recognition of the contracts.
* Support and scheme long-term financing sales deals with the risk management team.
* Develop external relationships with other parties as distributors, customers, suppliers, tax advisories, auditors, solicitors, bankers and statutory organizations.
* Conduct reviews and evaluations for cost-reduction opportunities for both contribution margin and base cost.
* Approve the manufacture and shipment for each individual deal from GE factories all over the world upon securing the payments.
* Maintain healthy compliance environment within various department.
* Approve high value settlements as well as high risk payments.
* Provide and interpret financial information and reporting on factors influencing business performance.
* Keep abreast of changes in various tax rules and legislations.
* Ensure accuracy of accounting thru following up on the controllership activities. Achievements:
* Managed to increase revenue, cash flow and foreign currency of $10 million per annum to statutory financials.
* Triumphed to increase operating margin “OM” for North East Africa to be the highest in Africa and reached 80% of Africa aggregate OM in certain years.
* Worked on tax exposure reduction for corporate income tax, salary tax and sales tax and managed to reduce tax exposure by around EGP 350 million for certain fiscal years.
* Led structuring an innovative financing methodology of the legal entity in Egypt for US$ 37 million through a “Profit Participating Loan” using an improved analysis for projection the Profit & Loss and Cash Flow.
* Succeeded for COGS reduction - through breaking down broadly based problems into their essentials - by 10.5% via saving refunded sales tax (10%) and industrial & commercial tax (0.5%) on importation.
* Supervised exposure reduction of the letter of guarantees by $23 million.
* Enhanced operating margin through fixed costs reduction and succeeded to reduce customs clearance fee by 5% upon early payments.
* Achieved to be the first in Egypt complying with customs requirements for DHL documentation.
* Managed the issuance of aged 18 financial statements since 2005 for 3 legal entities.
* Developed various standard operating procedures “SOPs” and mechanism.
* Improved filing of documentation thru development of controls on documents management process and serialized numbers filing. Ernst & Young
Egypt
Transaction Advisory Services
Manager
2008 - 2009
Duties:
* Managed engagements of financial due diligence for clients of different industries and reported on commercial review, financial statements analysis, quality of earnings and quality of net assets.
* Managed engagements for implementation of software for clients including accounting software interfaced with other software for sales, costing and warehousing.
* Managed engagements of clients for preparing the manual and flow charts of various policies and procedures including cash, procurement, inventory, sales, budget, marketing, internal audit, administration, IT, authority matrix and corporate governance.
* Managed engagements for improving and managing liquidity and working capital by challenging the drivers, developing contingency scenarios, driving stronger management accountability on cash metrics & on active cash management, improving financial forecast process, enhance management performance measures and improve execution discipline.
* Managed engagements for improving business performance through reduced or re-balanced operational, infrastructure and management costs, decreased revenue leakage, improved balance between security and cost of controls and clearly identified and prioritized improvement on supply chain.
* Managed engagement for establishing and implementing a process of regular assessment and monitoring of contractual partnership as essential to cost control and for contribution to the value of these arrangements.
* Assisted clients to improve their business model through emphasizing diversification, developing the model to be increasingly flexible to facilitate adaption to changing market dynamics and treating the various business components as a family of interoperable measures that lead to a more successful outcome.
* Assisted in promotion of the business through developing profile and credentials for the department, leading the marketing campaigns and contributing to the opportunities in adversity.
Taameer Real Estate Investment Co. / Al-Mazaya Holding Co. Kuwait
Financial Director
2005 – 2008
Duties:
* Formulate financial strategies and contribute in setting business strategies for the company and coordinate with the top management of the other departments to promote the vision and mission of the company.
* Prepare the business plan of the company through executing the financial segment along with the contribution of marketing department and other executive management.
* Supervise the implementation of the procedures relating to the preparation of the financial forecasting and budgets of the company that are prepared against the industry benchmark and developed hypothesis to meet the strategic objectives of the company.
* Monitor the business performance and analyze it through applying various ratios, understand the variances against the industry standards and benchmarks, breaking down broadly based variances and problems into their essentials, and make recommendations to the directors.
* Supervise the preparation of the feasibility studies for potential projects and discuss with the executive management the alternatives, key success factors and the risk factors associated.
* Supervise the implementation of accounting system, chart of accounts, accounting cycles, system and paper controls, information flow, work delegation and authority, system reports and the development of the administrative procedures.
* Formulate the financial policies and procedures for the company and contribute to the policies and procedures of other departments.
* Co-ordinate the Treasury activity of ensuring that funds are available as required to meet operating expenditures, loan repayment schedules and other commitments.
* Ensure compliance with IAS & IFRS and Corporate Governance.
* Manage asset growth and minimize risk exposure of all investments, meanwhile enable all financial resources to optimize organizational liquidity and service of capital for the organization.
* Work closely with banks and other financial institutions to ensure having the optimum credit lines with minimal finance cost.
* Review the contracts and all the obligations prior to concluding them with other parties in order to determine their financial impact and effect upon the company along with expressing the comments and observations upon them.
* Participate in industry society meetings, financial seminars and enhance the juniors’ information.
* Develop and maintain productive relationships with auditors, bankers, and other financial institutions.
* Monitor work progress to ensure expectations are met through initiating discussions with my team and obtaining ongoing feedback from all employees at all ranks.
* Assist the directors on major activities which may materially affect the goals of the company.
* Interact with financial analysts and other issues related to the company’s capital requirements. Ernst & Young/Arthur Andersen
Kuwait
Assistant Manager (Assurance and Advisory Business Services) 1996 – 2005
Duties:
* Plan, lead and coordinate the audit engagements for entities of various size and complexity.
* Understand the business, identify, source and prioritize risks of the engagements that could affect the audit opinion.
* Understand and flowchart business information framework represented in critical processes, accounting principles and practices, judgments and estimates and financial reporting process.
* Carry out business performance review to analyze the performance through applying various ratios, understanding the variances against benchmarks, developing hypothesis when required and breaking down broadly based problems into their essentials.
* Identify environment risk, process risk (operations, empowerment, information processing/technology, integrity and financial), and information for decision-making risk.
* Perform business analysis framework to assess the client’s business processes, competitors, customers, environment, information, management, owners and suppliers.
* Determine materiality level for each engagement.
* Assess the controls through identifying specific, pervasive and monitoring controls and evaluating the control’s design and operating effectiveness.
* Conduct technical research to substantiate, challenge or remedy client position related to accounting, auditing or industry issues.
* Ensure proper application of International Financial Reporting Standards.
* Identify and implement alternative approaches to address complicated transactions.
* Contribute to the development of the engagement's audit approach.
* Design appropriate procedures and audit programs and modify audit procedures throughout the engagement based on new, complicated or specialized circumstances.
* Participate in industry society meetings, seminars.
* Supervise the progress of team members toward completion of work and adjust work plan when necessary.
* Monitor work progress to ensure expectations are met through initiating discussions with service team and obtaining ongoing feedback from client.
* Identify and discuss risks with team partner on a timely basis.
* Make recommendations that reflect understanding of generally accepted auditing standards and risks inherent to client's business/industry.
* Apply other advanced audit procedures using office-related methodologies.
* Prepare the Financial Statements and the Auditor report. Knowledge Gained:
* Extensive Knowledge of International Financial Reporting Standards “IFRS”.
* Broad knowledge of US Generally Accepted Accounting Principles “GAAP”.
* Exposure to various industries.
Experience includes auditing the following business lines: Banking Medical Manufacturing Automotive
Oil & Gas Tourism & Entertainment Government Org Currency Exchange Social Security Real Estate Investment Guarantee Marine Investment Construction & Contracting Telecommunication Advertisement Warehousing & Logistics Agriculture Computer Fishing Other audit experience includes the following:
* Independently responsible for reports of rescheduling difficult debts for Industrial Bank of Kuwait and Commercial Bank of Kuwait.
* Reviewing “Capital Adequacy” Reports of banks.
* Reviewing “Credit Classification” Reports of banks.
* Reviewing “Credit Concentration” Reports of banks.
* Preparing internal audit reports as consulting services.
* Preparing necessary reports related to certain legal cases. Education and Professional qualifications:
* Certified Public Accountant CPA
* Certified Internal Auditor CIA
* Faculty of Commerce and Business Administration Cairo, Egypt 1991 – 1994
B.Sc. in Accounting,
Course emphasis:
Accounting, Audit, Finance, Microeconomics, Macroeconomics, Marketing, International Trade, Human Resources, computer science. Other Skills:
* Microsoft office suite (Excel, PPT, Word, etc.)
* Stamina at work
* Pragmatic approach
* Work under pressure
* Team work
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