Finance Director Accounting Audit

INFO

Name: Tarek Ahmed Abdulrahman

TEL: 009***********/ 002***********

ADDRESS Jawhara district, salah eldeen street, oasis garden compound

Alkhobar - KSA

E. Mail ***************@*****.***

LinkedIn profile www.linkedin.nom/in/tarek-abdulrahman-67638934

Objective

A qualified Head of finance with a strong portfolio with more than 30 years of Track record of full-time remarkable level of achievements in accounting audit finance and business in national and multinational environments in Egypt & KSA, seeking An executive position in a major challenging body where I can touch that the skills I have gained during the course of my professional and educational experiences will be valuable assets to the body

Profile

Responsibility

KPI Achievements

Strategy

Participate in the development and refinement of overall vision and strategy, and contribute to the overall process of corporate management and decision-making to ensure the organization delivers its short, medium- and long-term objectives.

Develop the Finance strategy in line with the organizational strategy to ensure vertical alignment and horizontal integration with other interfacing departmental strategies.

The Finance strategy is documented, approved, communicated Participate and implemented.

Budget

Oversee the consolidation overall budget and ensure co of all operational expenditures.

Approve the Finance budget and oversee the monitoring of financial performance versus the set budget to ensure alignment, identify and rectify unsatisfactory performance promptly and capitalize upon potential performance improvement opportunities.

Financial variance vs. Budget.

Budgets and plans prepared within budgeting process timescales.

Accuracy of budget.

Policies and Procedures

Develop and oversee the implementation of department policies, procedures and controls covering the finance areas of the business so that all relevant procedural/legislative/reporting requirements are fulfilled.

Approve and coordinate changes in the automated financial system and management information system in order to ensure efficient financial reporting structure.

Compliance with procedural and legislative requirements.

Audit reports.

Effective communication of policies and procedures.

Leadership

Provide leadership to the Finance department by setting and directing on the vision and mission of the organization and the Finance strategy to ensure that all direct reports are aware of what they are required to achieve and how they are performing against their objectives.

High performance standards are achieved.

People Development

Develop direct reports through setting individual objectives, reviewing performance and providing ongoing formal and informal feedback and appraisal to maximize subordinate and departmental performance.

Individual objectives and development plans in place within timescales.

Frequency of feedback and appraisal meetings.

Organization to

Budgeting and

Planning

Manage the process of business and financial planning (including contribution to the strategic planning process), budgeting and budget monitoring, business development support and related evaluation studies to ensure timely and accurate availability of information for business and corporate decision-making.

Timely and effective budgeting and business planning processes.

Accurate information to facilitate decision -making.

IPO

Participate in the development IPO process in KSA, also acquiring a business and restructuring to be acquired by other investor in Egypt (same process as IPO in Egypt)

Complete the file and introduce it to the SEC in Saudi Arabia,

Also complete the transaction of phasing out and acquiring in Egypt more than time

Education

Basic: - Bachelor of Commerce-major accounting-- Cairo University /1988

Post Graduate: - Certified public Accountant (CPA)-Chicago-IL-USA 1998

- Chartered Accountant (ESAA) -Cairo-EGY 1995

A-Summery Career History and special achievement over the regular course of business:

Date From Nov 2021 to SEP 2023

Role Group Finance Director

Employer National Care Company -KSA

4 Factories located in the second industrial zone in Dammam +sales arm of 17 branches in KSA and GCC specialized in manufacturing and distribution of detergents and home cleaning products. With a turnover more than 700ml SAR

Reporting to CEO and executive committee, dotted line to group CFO plus more

Than 40 finance staff reported to me directly and indirectly in KSA and

GCC (UAE, KUWAIT, BAHRAIN)

Major achievements-

(increasing in turnover by more than 25% while decreasing receivable days on hand by more than 15% also decreasing inventory level by more than 15%) reflected in increasing in operating NP by more than 15%) through:

- Participate in implementing ORACLE fusion for all business activities

- Control over cash cycle through

Implementing sales pricing system in conjunction with sales team (including discount and rebate system) through accurate costing (direct &indirect) & reallocation process

Set-up credit department through sales policy to minimize receivable days on hand and customer credit file and to maintain communication with active customer and minimize risk of losses customer

Update and implement sales bonus scheme

Control over inventory to minimize inventory days on hand through setup and implementing supply chain process while liquidating dormant stock.

Plus, other regular course of business

Date From Apr 2018 – October 2021

Role: CFO & executive committee member

Employer Salem Bal Hamer group-KSA

7 subsidiaries under umbrella of holding company with a turnover around 500ml SAR in Dammam with sales arm 7 points of sales in KSA main cities

Reporting to: Reporting to the CEO& Executive Committee with around 35 accounting and finance staff reported to me directly and indirectly.

Industry Manufacturing, construction, real state, trading and other services trading

Major achievements-

Focus on business restructuring for all business activities.

Maintain a strong relationship with financial institutions (banks, leasing companies &SIDF) to finance the growing up in the business investments whatever short term facility or medium-term facility to finance CAPEX and other investment) with analysis for each investment. Compare with the cost of investment (ROI &ROE) to be aligned with the management strategy

Update production cycle. for all the SKU range in the manufacturing segment coupled with updating the cost, sales price, commission system, and discount system (sales methodology) as a part of internal transfer pricing tool for the source of finance for the running business.

Set up Supply Chain committee to maintain appropriate stock level of inventory to meet the production needs and sales forecast. Specially in manufacturing segment

Set up internal transfer pricing system between manufacturing segment and trading segments to measure and account the performance on a departmental wise aligned with the group strategy

Analyze risk of projects especially Real estate segments and S projects to projects to be terminated and others to be continued

Participate in implementing AX365 (Microsoft dynamics)

Plus, other regular course of business

Date From 2015 – 2018

Role: CFO & executive committee member in Egypt

Employer EL-Rashidy confectionary development factories – CAIRO

2 manufacturing facilities in Egypt specialized in the production and distribution of Halawa, tahini, waffer, Jam, tomato paste, and some other confectionary products under the brand (EL-ASLY) with a turnover of around 400ml EGP

Reporting to: Reporting to the CEO / executive committee SILK INVESTMENT (British private equity) with 15: 24 finance and accounting staff reported to me directly and indirectly.

Achievement The business with AL-Rashidi leads us to focus on the cash, costing, pricing, and participating update sales methodology plus maintain strong communication with the financial institutions.

Developing a Costing system including a direct costing system and cost re-allocation process to allocate overhead in a reasonable manner.

Developing accounting and documents cycle for all business activities to control business cycle (part of operation manual) and discuss the cycle with the head office in England, approve it and implement it

Developing budgeting and report over the variance between budget and actual on a timely basis (weekly, monthly and quarterly) and analyze variance and how to avoid the variance in the forecast.

Minimize cash conversion cycle through effective management a stock level fit with the lead time of supplying and maintain a good relationship with the supplier and focusing on the cash sales.

Updating the sales price and discounts on a timely basis (monthly) specially in the unstable events as the market in Egypt at these period

Date From 2012 – 2015

Role: Chief Financial Officer

Employer Elsewedy Electric (Transformers sector) – 10 OF RAMADAN

In-charge on6 factories over 3-business units in Egypt and remaining are in Africa with a turnover around 150ml USD

Reporting to: Reporting to executive committee, MD and dotted line to the VP finance

With a finance and accounting staff: 35: 40 staff direct and indirectly including Africa

Industry Specialized in manufacturing and distribution energy Transformers. OIL & POWDER

Major achievements

Vision:

As the OIL transformers were a newly product in Egypt at that time, the management decided to take 100% from the market share of the OIL transformer at that time to be locally produced instead of imported

Challenges : As more than 80% from the transformer’s transaction is mainly with the governmental sector, then we focused mainly on the cash cycle and also we faced a foreign currency exposure as more than 80% from the material is imported while sales is with the local currency

ACTION TAKEN

To be aligned with the management vision we started with the following:

Implement ORACLE business 2 (accounting, costing, inventory and sales

Reallocate the indirect cost over the 3-production facility in Egypt to maintain accurate cost of assembling specially in the oil transformer

Study how to minimize cost of assembly per project to reduce cost per unit to compete with the imported units

Set-up supply chain committee to facilitate business process while maintaining stock level sufficient to the business need

Maintain a strong relationship with the financial institution.

Date from 2009 to 2012

Role Finance Manager

Employer Green land (Subs of Americana group) – 10 OF RAMADAN

Green land was a newly acquired brown business from other investors to Americana at that time consists of 4 factories located in 10 of Ramadan Egypt, specialized in producing cheese, milk and juice with a turnover around 700ml EGP

Reporting to: Regional CFO and dotted line to the M.D.with 32 staff reporting directly and indirectly to me

Industry FMCG Dairy Products & potatoes (manufacturing, distribution)

Achievement As every product use a different type of milk, so we differentiate between the materials used in each product, and consequentially the cost

Implement ORACLE business 2

Modify the bonus scheme to the sales department which resulted in maximizing sales by almost 10% and decreasing in inventory packaging material

Date From 2004 to 2009

Role Financial Controller

Employer Nile Co for food industry (ENJOY) – EGYPT – Cairo

3 factories in Egypt specialized in milk, juice (UHT & GLASS) and yoghurt with a turnover around 350ml EGP at that time

Reporting to: M.D /Dotted line to Executive Committee (CIB Bank) while accounting and finance staff around 30 were reported to me directly and indirectly

Industry FMCG Dairy Product and juice (manufacturing & Distribution)

Major - Implement ERP (G.P) financial and operation

Achievements - Developing and implementing a costing system resulted in

Decreasing in cost per unit (through allocating standard cost) which affect sales price positively. And consequently, achieving growth in turnover by 10%

- Prepare Business plan for the next 5 years showing the growth in

Business Net-wealth in a form of turn-over, G.P, EBITDA and N.P

Attached with the CAPEX and cash management required to

Achieve business growth

- Responsibilities also included restructuring the company's file for a

Purpose of acquisition of 100% equity stack of the company by other investor

Date From 2000 to 2004

Role: Ass. Financial Controller.

Employer Hero (VITRAC) – EGYPT - Cairo

Reporting to F.C / Dotted line to the Head Office (Swiss)

Industry FMCG, jam, juice and syrup (manufacturing & distribution)

Major -Implement ERP (Fourth shift) financial and operation

Achievement -Set up a costing and budgeting system (zero base budgets) resulted in modifying the sales and production mix in addition, Decrease in cost (direct & indirect) and maximize in N.P by Avg 5%

Participate in acquisition deal of 100% stack holder of VITRAC by HERO

-Participate (as a project member) in revaluating, restructuring the company for a purpose of acquisition of 100% equity stacks of the company by HERO

Date From 1991 to 2000

Role Staff to Audit Manager

Employer KPMG- Hazem Hassan - Cairo

Reporting to Audit Partner

Industry Audit and consulting services

(Where I participate in more than Due Diligence task plus regular audit tasks including Planning, Review, Audit, Assess, and Report and discuss the conclusion of audit task with the customer)

Date From 1988 to 1991

Role Accountant, Book keeper

Employer Arab Company for prefabricated building - Cairo

Reporting to Finance Manager

Industry Manufacturing - steel structure

Other Qualification

- Member of American Institute of Certified public Accountant (AICPA) 1998

- Member of Egyptian Society of Accountant and Auditors (MESAA) 1995

- Member of Illinois CPA Society (ICPA) 1998

- Member of Egyptian Society of Taxation (MEST) 1996

- Instructor for in_ house training courses with KPMG – H. Hassan 1995:2000

- Instructor for CPA review program in Cairo University & A.U.C 1997:2000

Training courses

1.Auditing of industrial, financial, hospitality and construction entities, KPMG, Cairo (1991 :2000)

2.CPA review course KPMG,Cairo (1996/1997)

3.International auditing and accounting standards KPMG (1991:2000)

4.IFRS standard course Personnel course 2015

5.COBOL course, ICL institution1989/1991

6.Modern accounting courses, AUC (1992:1993)

7.Project management team 2002 PWC

8.IFRS Course 2019 protovito – KSA

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