Jaber Ali

Al-Kuwait, Kuwait +965-******** adiaa2@r.postjobfree.com

CFO / Finance Controller / Finance Director

Profile

Summary

Seasoned and results-driven finance professional with over 22 years’ progressive experience across diverse sectors, managing financial health of the organization, driving the financial planning by analyzing company performance and risks, handling accounting operations and directing the team to achieve financial goals. Expert in supervising the finance team, developing budgets, managing cash flows, and developing and implementing accounting processes and financial procedures. Excellent skills in conceptualizing and implementing financial policies and procedures including working capital management, internal financial controls, and project financing and costing. Proven ability to improve operations, impact business growth & maximize profits through contributions in financial management, cost reductions & productivity improvements. Decisive leader, having engaging interpersonal style and excellent relationship building skills, with ability to direct team members. Career Objective: Seeking a senior position with a reputed company to utilize acquired skills and expertise in reducing financial risk and maintaining a positive image of the company while achieving bottom-line results. Key Skill Areas

● Accounting and Finance

● Financial Planning & Control

● Financial Analysis & Reporting

● Budgeting & Forecasting

● Cash Flow Management

● Accounts Closure & Reconciliations

● Variance & Trend Analysis

● Expense Analysis

● Startups Consulting

● Cost Control / Reduction

● Audit Support

● Regulatory Compliance

● Financial Statement Preparation

● Liaison and Coordination

● Team / People Management

● Managing ERP Implementation (AX -

MS Dynamics)

● BEP Analysis

Professional Experience

Banta Furniture W.L.L., Kuwait & KSA Oct 2008 - Present Designation Chronology:

● Senior Financial Controller, Jan 2012 – Present

● Head - Accounts, Oct 2008 – Dec 2011

Key Highlights:

● Significant contribution in company’s expansion in KSA by preparation of feasibility study and start-up budget.

● Implemented budgeting system in the organization which contributed in effective financial and commercial planning.

● Updated the CEO & CFO on company’s financial position through provision of management reports highlighting the company performance, financial indicators and ratios (profitability, liquidity, turnover).

● Successfully improved the company structure in order to meet the new functions.

● Efficiently improved the performance of finance department by creating sub-sections and developing policies & procedures.

● Led implementation of new ERP system – Microsoft Dynamics AX 2009 & 2012 for the company. Key Responsibilities as Senior Financial Controller: Financial Planning

& Control

● Lead the finance team in administering and controlling the finance department to optimize the company’s financial performance and strategic position.

● Analyze costs, pricing, variable contributions, sales results and the company’s actual performance compared to the business plans for maintaining the financial health of the organization.

● Review and appraise the soundness, effectiveness, and proper application of accounting and financial controls, compliance procedures and controls, and timeliness of documentation generation.

● Review the structure of the finance division to ensure maximum efficiency; develop and implement financial accounting policies and procedures.

● Ensure that all financial/accounting transactions are in adherence with the set policies, procedures, management and regulatory requirements.

Accounting

Operations

● Monitor and analyze accounting data, oversee maintenance of accounting records for each transaction, verify accounting heads assigned to transactions and ensure appropriate preparation of general ledgers, trial balance and financial records.

● Liaise with banks, manage bank facilities and rate to guarantee the ideal using and smooth timely renew.

● Oversee and ensure the sales, GP and NP achievement with necessary cost optimization, healthy inventory and margin management

● Oversee accounting operations to ensure timely completion of internal, due diligence, statutory, VAT tax audits and routine accounting within prescribed time frame.

● Ensure timely payments to suppliers and manage accounts payable within the pre-set parameters. Budgeting & Fund

Management

● Prepare monthly/annual budget for the company; report to management on variances from the established budget along with the reasons for those variances.

● Carry out MIS, margin & markdown and cost control, feasibility for new shops (Capex, BEP), conduct purchase review and manage stock.

● Oversee the investment of funds, monitor and interpret cash flows, predict future trends, ensuring that sufficient funds are available to meet ongoing operational and capital investment requirements.

● Collaborate with management team for development and execution of funding strategies; identify ways to improve profitability, and analyze markets for new business opportunities.

● Review all expenditure requests and coordinate with concerned division staff to develop company- wide procedures for capital expenditure, budgeting control and reporting. Financial Analysis

& Reporting

● Perform various advanced financial analyses to determine present and forecasted financial health of the company; present potential scenarios and outcomes to the senior management for effective decision making on management of profitability, business expansion / consolidation.

● Oversee the preparation of cost & budgets related reports while ensuring compliance with objectives, standards, overhead control, profit protection and organization’s requirements.

● Prepare various financial and statistical reports, including income statements, balance sheets, and analysis of future earnings or expenses, and interpret financial information to the senior management while recommending further courses of action. Key Responsibilities as Head – Accounts:

● Managed and controlled the daily operations of the Accounting division including working capital, Export & Import, Commercial, Legal & Statutory matters like Sales Tax, Income Tax, Registrar of Companies, etc.

● Responsible for accurate and timely month-end and year-end activities, accounts payable/receivable, general ledger, cash forecasting, cash flow, budgeting, revenue and expenditure variance analysis, capital assets, fixed asset and debt activity, etc.

● Directed and reviewed the work of the accounting staff including Accountants and Accounts Assistants; developed annual budget and the estimated expenses of the department.

● Performed difficult and complex statistical analyses including input cost analysis, raw material cost variance analysis, sales variance analysis, debtors and creditors ageing analysis, credit limit fixing for customers as well as stock valuation.

● Developed revenue and capital budget in coordination with different departmental heads such as production, maintenance, marketing and other service departments; consistently monitored the budget with monthly variance analysis.

● Prepared and maintained books of accounts, coordinated monthly, quarterly and annual closing activities and reviewed general ledger on a monthly basis to ensure accuracy of posting.

● Reviewed and scrutinized export documentation, LC documentation (both import & export), vouchers - cash & bank, purchase and contract bills as well as system generated sales invoices.

● Handled vetting of contracts lease agreements as well as other commercial aspects of purchase & sales functions including export & import; submitted monthly and annual sales tax return, and completed sales tax assessment.

● Monitored and analyzed accounting/financial data and produced financial reports and statements as per IFRS; presented the financial and other decision oriented information to assist management in planning and formulating policies.

● Established and enforced proper accounting methods, policies, principles as well as financial systems, procedures and control; made and implemented recommendations to improve accounting processes and procedures. Chief Accountant Panasonic (Easa Husain Al - Yousifi & Sons), Kuwait May 2007 - Sep 2008 Key Responsibilities:

● Chiefly responsible for reconciling and adjusting accounts receivable for companies, co- operatives, ministries and banks, receiving and posting payments and reconciling AR reports to the general ledger.

● Reconciled the cash comparing the cash GL account with the cashiers books; followed up with customers and posted all types of payments including cheques, bank transfers, LC, etc.

● Monitored all transactions in the accounting department, reviewed accounting data, verified transactions to assess the accuracy of journal entries, scrutinized income-expenditure, maintained all accounting ledgers and performed monthly review of all account reconciliations.

● Supervised the closure of daily and monthly books of accounts; provided timely explanations of variances between actual results and forecasts/budgets; provided corrective action recommendations to management, where necessary.

● Managed month-end financial statement closings with finance department by providing a verified listing of the month end billings as well as a statement of the reconciled outstanding customer and other balances.

● Obtained financial and accounting related information from other departments to ensure records are accurate and complete and that accounts receivable ledgers and journals are up to date.

● Applied accounting principles to transactions and recommended revision in departmental accounting procedures to ensure conformance with applicable policies.

● Monitored and analyzed the work of the department to develop more efficient procedures and use of resources while maintaining a high level of accuracy.

Senior Accountant Sea-Tac General Trading & Cont. Co. W.L.L., Kuwait May 2005 - Apr 2007 Key Responsibilities:

● Managed and controlled daily operations of the accounting division, prepared and maintained books of accounts, coordinated monthly, quarterly and annual closing activities and reviewed general ledger on a monthly basis to ensure accuracy of posting.

● Assisted in developing annual budget plans, monitored and analyzed budget patterns and compared them with actual cost; performed complex general accounting functions, including account analysis and financials reconciliations.

● Prepared, examined, and analyzed accounting records, financial statements, and other financial reports to assess accuracy, completeness, and conformance to reporting and procedural standards.

● Received, recorded and deposited cash, checks, bank transfers to customer accounts; cleared and reconciled monthly accounts receivable of bank and credit card transactions, and customer accounts.

● Produced monthly, quarterly and annual financial statements and ad hoc financial reports; prepared project-wise and overall financial analysis to determine the financial status of the company.

● Coordinated with internal auditors for successful completion of audits, provided them with required documentation and financial information and assisted in preparing detailed audit reports to highlights shortcomings in procedures. Previous Assignments

● Jan 1998 - Apr 2005: Senior Accountant, Al Meera Group, Qatar

● May 1996 - Dec 1997: Accountant, Moatasem Auditing & Accounting, Sudan Education

● Bachelor's Degree in Finance & Accounting, University of Sudan for Sciences & Technology, Sudan (Apr 1996) Professional Development

● Certificate in IFRS, KPMG, Kuwait (Nov 2018)

● Certificate in Strategic Planning, Gulf Innovation for Training and Consulting, Kuwait (Feb 2016)

● Certificate in Internal Audit ISO 9001, Altro Level, Kuwait (May 2015)

● Certificate in English Conversation, BITE - British Institute of Training and Education, Kuwait (Apr 2008) Nationality: Sudan ● Date of Birth: 18th Nov 1970 ● Marital Status: Married ● Languages: English and Arabic

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