Summary
Overview
Work history
Education
Skills
Personal Information
Custom
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Timeline
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Abazar Mohamed Bakhit Ahmed

Abazar Mohamed Bakhit Ahmed

Jeddah,Saudi Arabia

Summary

Exceptionally competent financial executive with outrivaling competence in mergers and acquisitions, financial modeling, budget allocation, Profit & loss management, and investor relations. Exceptional understanding of policies and processes, including internal financial controls, project financing, capitalizing profits, and establishing cost-cutting measures. Adept at giving leadership and guidance while building strategy, content, and structure to improve corporate performance. Excellent interpersonal skills to resolve numerous financial challenges.

Overview

26
26
years of professional experience
1999
1999
years of post-secondary education

Work history

Finance Manager

ETHMAR Construction for Contracting Company
KSA
12.2023 - 10.2024
  • Supervising and general management of the financial and accounting activities in the company and dealing directly with budgets and financial forecasts to analyze the performance and financial situation of the company, managing financial risks and identifying the right opportunities that contribute to the growth of profits and productivity of the company, and then achieving success and financial stability for the company, daily operations of the legal regulations of the department, what you need, managing a team, etc., the performance of the employees, determining which ones are for the department, and ensuring that all employees are observed in a productive, paid work environment within the company for an increase in insurance
  • The most important tasks, in brief, are as follows: Managing company budgets
  • Account management
  • Consider, review and verify costs, expenses and revenues
  • Planning and directing the efforts of employees in the company’s financial department
  • Supervising the overall operations and activities carried out by the company’s finance department
  • Preparing the necessary reports in accordance with laws, Instructions and company policies
  • Maintaining the company's financial level
  • Ensure the provision and interpretation of financial information
  • Monitor all cash flows and contribute by anticipating future trends, analyzing changes and providing advice
  • Review and verify costs, expenses and revenues
  • Pursue appropriate opportunities to reduce financial costs
  • Interest in managing financial accounting systems
  • Preparing long-term strategic operation plans
  • Reporting influences affecting the nature of work performance
  • Ensuring the development and improvement of the mechanisms applied in financial management, which contributes to reducing risks
  • Communicating with all auditors, with the aim of monitoring the company’s annual financial position
  • Searching for new sources of financial financing and developing plans to facilitate the payment of the company’s debts
  • Analyze financial statements and manage cash flows
  • Attention and focus on the smallest details of financial liquidity, how to comply with applicable financial laws and regulations, and the application of international accounting standards
  • Planning and organizing work effectively and managing financial projects efficiently
  • Lead, direct and motivate the finance team to achieve common goals and sustainable growth of the company
  • Participate in setting goals
  • Timing and reporting of payments to suppliers and contractors
  • Supervising the company's financial structure
  • Communicate with all departments in the company to find out their necessary financial needs
  • Flexibility and adaptation to emerging changes and challenges in the company’s financial environment
  • Working directly with other departments of the company and discussing the company’s goals and future plans with them
  • Analyzing financial data and information
  • Managing cash and investing surplus funds
  • Financing the company from various funding sources when needed
  • Managing various financing risks, such as the risks of currency price fluctuations, inflation, changes in interest rates, and others
  • Preparing the estimated budget, monitoring expenditures and expenses, identifying deviations between what was expected and the actual reality, and submitting reports
  • Assist all units of the facility and provide advice when it comes to financial management
  • Develop plans to provide cash liquidity in the short term and assist in developing strategic plans for the facility in the long term
  • Preparing a statement of cash flows
  • Maintaining and following up on the company’s assets and property
  • Carrying out all financial affairs and financial services, including accounts, revenues and expenses, directing and coordinating their work, ensuring the soundness and effectiveness of performance therein, achieving harmony and integration between them, and considering all issues that arise in this regard
  • Participation in the work of committees and meetings related to the areas of financial management work, for example, periodic and coordination meetings, as well as procurement committees, in a way that facilitates the work of the committees and their achievement of the purposes for which they were formed
  • Coordinating with other departments in the company through periodic meetings and communications, to determine their needs for financial facilities and services, and working to provide them in order to facilitate the work of these units and help them in completing the work assigned to them
  • Participate in preparing the estimated budget, coordinate to tighten control over basic expenses and other expenses, and studying the negative and positive deviations resulting from comparing the actual expenditure with the estimated one, and submitting periodic reports on those deviations to the person in authority
  • Suggesting to the company’s management the appropriate way to deal with cash flow and increase its revenues
  • Issuing instructions for closing accounts before the end of the fiscal year, forming the necessary committees, preparing approvals for debit and credit balances, current bank accounts, and investment accounts, and submitting those instructions to the person with the authority for approval
  • Work on preparing the company’s final accounts and having them approved by the authorized person
  • Providing advice and opinion to all administrative units of the company on matters related to financial affairs, and addressing any problems that arise in this regard
  • Updating and organizing records, data and statistics related to the administration’s activities, preserving them and taking advantage of technical capabilities in processing them, and providing the competent authorities with reports, information and data in accordance with the rules and instructions
  • Determine the administration’s needs for manpower, equipment, and tools and follow up on their provision
  • Providing advice on investment activities and providing strategies that the company should take
  • Develop and implement credit policies and procedures to ensure customer creditworthiness and minimize risk of financial loss
  • Opening banking facilities that suit the company’s current and future situation with the lowest commissions, administrative expenses, etc
  • Analyze financial data and credit reports to evaluate the creditworthiness of potential and existing customers
  • Establish credit limits and payment terms for customers based on their creditworthiness and payment history
  • Monitor customer accounts to ensure payments are made on time and in accordance with established terms
  • Communicate with customers to address any credit-related issues and resolve disputes
  • Work closely with Banks and Creditors service teams to ensure efficient and effective credit management
  • Prepare reports and present findings to senior management
  • Supervise and train credit department staff as needed
  • Evaluate potential customers’ creditworthiness
  • Maintain detailed records of company loans
  • Approve or reject loan requests from customers
  • Calculate and set loan interest rates
  • Negotiate loan terms with new customers
  • Monitor customers’ loan payments
  • Review and update the company’s credit policy when necessary
  • Keeping abreast of changes in financial regulations and legislation
  • Producing accurate financial reports to specific deadlines
  • Maintaining the financial health of the organization
  • Monitor all cash flows and contribute by anticipating future trends, analyzing changes and providing advice.

Internal Auditor Specialist

Esamt International Motors Company
Sudan & UAE
10.2018 - 11.2023
  • Participate in the execution of the risk-based audit plan, reporting results to Accenture Leadership and the Audit Committee of the Board of Directors
  • Assessing Organization structure for Company
  • Determining cash flow budget for the company based on spend assessment
  • Documenting Policy and operating procedures for the Company
  • Application Reviews
  • Fraud Risk Assessments
  • General controls review of In-house and Off the shelf applications Assessing business process efficiency
  • Checking for waste and mismanagement of funds, as well as fraud within an organization
  • Responsible for end-to-end audit execution including planning, fieldwork, workpaper documentation, leading audit meetings, reporting, and follow-ups; ensuring that methodologies governing internal audits are followed
  • Created and implemented audit review procedures
  • Presented audit results and recommendations to the Management
  • Review and recommend improvements to business procedures and internal controls
  • Keep abreast of company policies and procedures, current developments in accounting and auditing professions
  • Identify areas of improvements and concerns to management
  • Interact with management to determine audit requirements
  • Develop audit presentations to management as needed.

Finance Manager

ACWA Power International
KSA
07.2015 - 07.2018
  • Provide budgetary for future planning, both short and long term, and companies need to know the financial implications of any decision before proceeding
  • Provide financial advice and support to clients and colleagues to enable them to make sound business decisions
  • Specific settings vary enormously and include both public and private sector organizations, such as multinational corporations, retailers, financial institutions and small manufacturing companies
  • Preparation of Annual budget and Cost Control reports
  • Perform variance analysis on actual results against forecasts and budgets
  • Involved in compiling and preparing commentaries as well as making presentations to senior management
  • Monitor and analyze the performance of various business units
  • Business performance reviews, forecasting/planning and process improvements
  • Coordinate monthly forecasting and be involved in the preparation and analysis of the annual budget
  • Design/prepare/review of management reports and financial reports
  • Providing and interpreting financial information
  • Provide detailed analysis for operating costs, fixed costs, working capital, capex analysis etc against budgets, previous performances, across businesses etc and suggest improvements for gaps identified.

Senior Finance Officer

ACWA Power International
KSA
10.2009 - 07.2015
  • Ensure compliance with the financial covenants in the financing and project documents
  • Handle the loan draw downs including the satisfaction of conditions precedent to the loans
  • Design/prepare/review of management reports and financial reports
  • Provide detailed analysis for operating costs, fixed costs, working capital, capex analysis etc
  • Against budgets, previous performances, across businesses etc and suggest improvements for gaps identified
  • Review and manage the accounting, tax, controls and processes function of the business to ensure accurate reporting of these areas
  • Review financials prepared under Saudi GAAP and IFRS
  • Prepare management reports
  • Ensures that all costs associated with the Project activities are booked promptly and accurately within Microsoft GP and adherence to Saudi Arabian taxes are complied with
  • Ensuring that all ledger postings are completed promptly and audit of books is done
  • Running the monthly reporting routines
  • Accurate & Timely Preparation of Budgets, month and year end financials, etc
  • Reporting of Actual against Budget, and Base Case FM
  • Ensure Microsoft Dynamics GP is up to date and accurate
  • Liaise with external auditors
  • Administration of payments on a day-to-day basis and bank reconciliations are done
  • Updating Sources and Applications Daily & Future Months
  • Coordinating with Various Department for Petty Cash & Suppliers & Salaries & Miscellaneous Expenses & Gosi after that we Accrue in Books
  • Prepare the calculation for EBL& Banks Fees Hedging &Commitment& Advance Rental & Interest & Other in Excel sheet and then will accrue in the Book Monthly
  • Prepare the offshore payments for withholding Tax requested by Auditor and Accrue WHT in our Books
  • Prepare the Financial Statement report monthly in Excel Sheet with details
  • Support the Director, Finance and Operations and Financial Controller with the projects and deliverables.

Finance Manger

Al Koufi Trading & General Contracting Group
KSA
04.1999 - 09.2009
  • Develop an understanding of Compliance measures that could prevent or delay customer payments and advocate for the Finance/Credit department while collaborating with other departments, including Operations, Project Management, Payroll - Prevailing Wage and Certified Payroll Compliance, Human Resources, Sales Booking, Billing, Contracts, Accounts Payable, Purchasing and other accounting departments
  • Preparation of management accounts and supporting commentary on a monthly basis
  • Reporting to management about the financial position of the firm on monthly basis
  • Preparation of monthly cost reports
  • Reconciling project gross profit to management accounts gross profit, verifying reconciling items
  • Sub-Contractors control account handling
  • Supervise and monitor day-to-day accounting operation
  • Checking and verifying Payroll and Staff related payments
  • Following up Accounts Receivables and preparation of ageing reports
  • Calculation of Staff vacation pay and providing necessary information of personnel dept
  • Preparation of monthly cash budget
  • Coordination of different departmental heads to make Income and expenses budget
  • Preparation of budgeted income statement based on data provided by the different Dept
  • To monitor company cashflow
  • To limit the expenses payments within the allocated budget
  • To support higher management for any info needed for effective decision-making
  • Developing new reports based on the needs of management
  • Ensuring timely deposit of cash in the bank
  • Daily posting of all transaction for the transaction executed
  • Prepare management presentations
  • Work closely with the Finance team to ensure integrity of the accounting system.

Audit Assistant

Al Bir International Organization
Sudan
05.1998 - 03.1999
  • Donned the responsibility for conducting Statutory/Internal audits, and preparing Sales Tax, Income Tax & Project Reports
  • Standardized submission of final audit report by narrating all deviations and scope for improvements by duly maintaining work papers
  • Maintained follow-up with auditees for audit compliances and provided assistance to Statutory Auditors with needed inputs
  • Associated closely in payment & procedural Audit of Salaries/Wages and Gratuity Accounting
  • Contributed significantly in price fixation, Bank reconciliation, payments, receipts etc
  • Streamlined the process of maintaining the records and registers.

Education

Higher Diploma in English Translator -

Al Khartoum University

Master in Accounting and Finance - undefined

Al Neelain University

Higher Diploma - undefined

Al Gezira University

Bachelor Degree - undefined

Sudan University of Science & Technology

Skills

  • Financial analysis
  • Budget preparation
  • Cost accounting
  • Cash flow management
  • Risk management expertise
  • Regulatory compliance knowledge
  • Proficiency in ms excel
  • Strategic planning and development
  • Advanced mathematics proficiency
  • Financial modelling techniques
  • Investment strategy formulation
  • Auditing capabilities
  • GAAP and ifrs familiarity
  • Economic awareness
  • Efficient time-management
  • High ethical standards
  • Precision in work
  • Risk assessment
  • Cash Flow analysis

Personal Information

  • Nationality: Sudanese
  • Marital status: Married

Custom

  • A course in Operation & Maintenance of Entertainment Facilities, Projacs Training, Germany
  • A course in Mastering Writing &Time Management, Projacs Training, UAE
  • A course in International Financial Reporting Standards (IFRS), IFM., UAE
  • Advanced Training in MS Excel, Access & Word
  • Microsoft Dynamic
  • Several other specialized and related courses

Languages

Arabic
Native
English
Fluent

Timeline

Finance Manager

ETHMAR Construction for Contracting Company
12.2023 - 10.2024

Internal Auditor Specialist

Esamt International Motors Company
10.2018 - 11.2023

Finance Manager

ACWA Power International
07.2015 - 07.2018

Senior Finance Officer

ACWA Power International
10.2009 - 07.2015

Finance Manger

Al Koufi Trading & General Contracting Group
04.1999 - 09.2009

Audit Assistant

Al Bir International Organization
05.1998 - 03.1999

Master in Accounting and Finance - undefined

Al Neelain University

Higher Diploma - undefined

Al Gezira University

Bachelor Degree - undefined

Sudan University of Science & Technology

Higher Diploma in English Translator -

Al Khartoum University

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Abazar Mohamed Bakhit Ahmed