Ahmed Nagi Ahmed Said
Financial Analysis , Financial Management , Cash Flow Management, Business Modeling , Costing Analysis , Credit Facilities Management
Riyadh
Summary
I am seeking a challenging position with a reputable institution that will enable me to further develop and enhance my communication and technical skills, allowing me the opportunity and freedom to implement my abilities to their fullest potential.
Overview
26
26
years of professional experience
4
4
Certification
2
2
Languages
Work History
Chief Financial Officer
Riyadh Investments Group
06.2022 - Current
- Working as a Group CFO For the following Companies: Riyadh Investment Company L.L.C, Ramah Aluminum and Metal Coating, Al-Makateb Co. LTD, Saudi Turf Co LTD, Riyadh Metal Industries Company L.L.C
- Calculate the risks involved in the financial activities of the company.
- Develop standard accounting procedures to improve financial operations efficiency.
- Provide financial reports and interpret financial information to managerial staff while recommending further courses of action.
- Control income, cash flow and expenditure.
- Develop corporate budget along with its management and monitoring processes.
- Evaluate the financial performance of the company and measure returns on investments.
- Provide financial insight and analysis to drive the business performance of the company.
- Manage and monitor the business metrics, KPIs tracking, and reports.
- Make estimates of funds required for the short and long-term financial objectives of the company.
- Restructuring of stressed Balance Sheet to maintain the right level of fund requirements.
- Improve the working capital and maximize the free cash flow.
- Develop strategies for optimizing the company’s liquidity and credit availability.
- Ensure the effectiveness of the ERP system implementation.
- Responsible for mapping and identifying improvement of existing finance and operation processes
- Conduct feasibility studies and investment analysis as needed.
- Monitor and analyze monthly operating results against the budget, flagging items for follow-up and highlighting significant developments to top management when necessary.
- Recommend and monitor benchmarks for measuring the financial performance.
- Work with managers to develop short term & long-term financial goals for the company
- Manage all staff in finance department all over the whole locations of the companies.
- Oversee cash management banking and financial institution relationships. Negotiate bank and service fees specially bank facilities.
- Negotiated favorable credit terms with banks for increased borrowing capacity and reduced interest expenses.
- Advised Board of Directors on strategic financial matters, providing insightful recommendations backed by thorough analysis.
- Tracked cash flow and financial planning to analyze company's financial strengths and weaknesses and propose strategic directions.
- Implemented tax planning strategies that minimized liabilities while ensuring full compliance with local, state, and federal laws.
- Championed effective communication between finance personnel and other departments to facilitate cross-functional collaboration on projects and initiatives.
- Developed strategic financial plans to support company growth and achieve long-term objectives.
Finance Director
Balubaid Group Affiliate Jeddah
06.2017 - 05.2022
- Review MIS report and prepare closing summary to the top Management.
- Restructuring Chart of Account & chart of cost center to adopt the critical changes in the business environment specially for applying new ERP System.
- Review and close weekly A/R report, A/P Report, Cash Flow statement, G/L account and revenue report
- Prepare and close monthly departmental Profit and Loss and financial statements
- Setting and monitoring budgets and KPIs.
- Provide analytical support to the Senior Management and line managers.
- Prepare and manage ad-hoc reports
- Ensure timely and accurate submission of local Tax returns
- Work on keeping ERP system proceed as targeted and planned, as I was the project manager for implementing SAP Business one for three of the groups various Companies.
- Liaise with auditors and manage audit process to ensure timely reporting to Group, local authorities and third parties.
- Document as per company policy/accounting & audit standards
- Conduct full G/L review checks as part of the closing process.
- Reconcile intercompany transactions before deadline.
- Review and approve monthly Payroll reports and commission payments, ensuring that their calculation is aligned with the approved scheme
- Highlight improvements in internal controls to Management
- Forecast cash flow positions, related borrowing needs, and available funds for investment
- Develop financial management mechanisms that minimize financial risk
- Identify, investigate, and analyze potential operational improvement areas
- Be up to date financial regulations and legislation.
- Built strong relationships with key stakeholders.
- Website: http://www.balubaid.com/
Finance Manager
AlKharafy Group – Affiliates
08.2015 - 05.2017
- Provide leadership to finance and accounting areas of the organization.
- Provide useful financial insights to help make better decisions about formulating and executing strategy, and provide guidance and analysis to executive and operational management to improve results.
- Maintain system of accounts and keep books and records on all transactions and assets.
- Prepare and analyze accurate monthly financial and management reports, including income statement, balance sheet, budget and variance, projections and forecast, and cash flow.
- Maintain control of the following areas: general ledger, accounts payable, expense reports, billing, and payroll.
- Assist in the management of grants reporting, compliance, and reconciliation.
- Prepare a variety of ad hoc financial scenarios as requested.
- Ensure that all financial transactions are processed accurately, in a timely manner, and in accordance with generally accepted accounting principles.
- Develop, implement, and maintain processes and controls that are current best practices related to transaction processing.
- Manage, oversee, process (as appropriate), and act as backup for processing all of the following transactions: payroll, accounts payable, revenue and expense, fixed assets, cash, bank reconciliations, and allocations.
- Perform month-end closing procedures, including overhead allocations, account reconciliations, and updating schedules.
- Maintain an orderly accounting filing system.
- Assist in issuing timely, accurate, and complete financial statements for all levels, including Board of Directors, executive, and management.
- Assist in coordinating the preparation of the draft audited financial statements and all tax returns.
- Coordinate the preparation of financial information in the corporate annual report.
- Recommend and report upon benchmarks against which to measure organizational performance.
- Calculate and issue financial and operating metrics.
- Assist in production of cash flow reports, annual budget, and forecasts.
- Calculate variances from the budget and report significant issues to management.
- Provide for a system of management cost reports.
- Provide financial analyses and models as needed, in particular for capital investments, pricing decisions, and contract negotiations.
- EMAK Integrated Solutions
Finance Director
MHC Constructions
06.2011 - 05.2015
- Oversee financial operations of our company.
- Manage and provide ongoing training to accounting personnel.
- Conduct weekly and monthly financial assessments and generate reports to be submitted to the senior management team.
- Establish budgets in accordance with the requirements of company departments.
- Allot funds for capital projects and work with the Director of Facilities to ensure they stay on track financially.
- Develop annual financial plans and projections for the company
- Conduct analysis of financial risks and benefits on business initiatives.
- Aggregate Cash flow projection & analysis which maintain liquidity for keeping operation going with rationalizing cash expenditure.
- Managing relationship with banks & financing institutions.
- Prepare company financial statements monthly and annually, as needed.
- Oversee all accounting work and set up internal and external audits to ensure the accuracy of information.
- Establish internal work processes for financial department (including accounting and billing) and monitor their progress.
- Analyze and interpret financial data and present the information with reports and presentations to the board of directors and executive director.
- Driving the company’s financial strategy and planning throughout the best Financial Practice, techniques, and Modelling.
- Assist in the process of preparing annual budgets by providing assistance / directions to managers
- Review all of contractor’s invoices, labors payable cost schedule
- Prepare the monthly Assets & Liabilities reconciliation along with their supportive backup
- Ensure that all pending A&L balances are resolved on a timely manner
- Follow up the collection of the A/R balances
- Responsible for the month end closing process
- Review the vendors' payments.
- Ensure the adequacy of internal control system
- Review the monthly P&L results with the department managers
- Handle the matters related to tax authorities either dues settlement or tax audit.
- Ensures that accounting activities are performed according to legislation.
- Ensures timely consolidation of balance sheets, profit and loss, etc.
- Assures adequate documentation/support of transactions and reports
- Managing company budgets
- Consider, review and verify costs, expenses, and revenues
- Plan and direct the efforts of the employees in the financial department of the company
- Supervising all operations and activities that the Finance Department.
- Prepares statements and reports of estimated future costs and revenues.
- Report financial results to management, the board of directors
- Using effective Financial Modeling and analysis in decision making.
- Website: https://almohileb.net/
Accounting Manager
Al Rashidy Al Mizan
01.2008 - 05.2011
- Reviewing all the accounting & financing activities for the company
- Managing & reviewing the whole relation with banks & financing issues (LCs, LGs, Current Accounts, deposits, etc…..)
- Reviewing & directing the whole journal entries in the accounting cycle, ensuring that the flow of the accounting cycle is going in parallel with applied standards & rules.
- Preparing the final financial position for the company each month, (reviewing & directing the trial balance, preparing the income statement & balance sheet for the monthly closing, preparing for most of the analytical sheets regarding administrative expenses, Manufacturing expenses, cost of goods sold.
- Reviewing & controlling the whole process of the temporary custom releasing & draw back issues regarding the importing materials to be exported as finished products.
- Analyzing the cost of goods sold & Manufacturing expenses to the level of each product, (horizontal & vertical analysis).
- Preparing the final closing for the fiscal year & quarters closings by all needed sheets & analysis which totally facilitate the work of audit firms to finalize the financial position issuance.
- Preparing the annual budget, reviewing & set up the required analysis of comparisons, & deviation between actual results & budget on quarterly basis.
- Performing all the feasibility studies for new projects, & giving the required projections for the future business trends in comprehensive analytical sheets.
- Composing the needed training courses for the financial team to improve performance & reaching efficiency points.
- Setting up the required policies, regulation, & rules for organizing the business cycle for the various business levels.
- Managing warehouse, setting policies & regulations directing the flow of transactions for receiving, issuing, & inventory control.
- Managing & controlling the process of settling the import & export certificates of customs within the system of temporary customs releasing & drawback.
- Reviewing & preparing the analysis & forms for sales tax, withhold tax, & salaries tax & holding the tax inspections with taxation authorities.
- Preparing for the whole procedures of Board of directors’ meetings, & general assembly meetings starting from preparing agendas ending by authorizing the documents from the general investment entity.
- (Confectionary)
Section Head
Wyeth-Ayerst Pharmaceuticals Affiliate of (Pfizer)
06.2004 - 01.2008
- Handling journal entries & analysis regarding to Internal & External Suppliers, performing the appropriate transactions regarding it on Oracle
- Recording some bank transactions on Oracle & Performing Bank reconciliations & analytical sheets for it
- Analyzing General & administrative expenses occurred each month.
- Handling the Procedures for Letters of Credit & Letters of guarantee.
- Issuing Payment For the suppliers & vendors.
- Holding Fixed Assets registry & performing the required adjustments regarding additions & disposals in fixed assets
- Performing the monthly analysis regarding manufacturing Expenses & Preparing the analytical statements regarding the cost of goods sold & Inventory Assessment.
- Preparing analysis sheets regarding cost of resources on (MAC) which are entered to the Cost of goods sold specially regarding Human Resources, & Depreciation & manufacturing expenses
- Handling CAPEX & OPEX controlling sheets & its monthly & annually analysis
- Responsible for all customers’ A/R accounts
- Following up Customers’ balances
- Dealing with Sales Reps
- Following up on daily sales (Cash/ Credit
Accountant
Alan Dick-North Africa Inc.-Telecommunication Affiliate of Alan Dick – United Kingdom
10.1999 - 06.2004
- Performing the Whole Analysis Related to Accounts Payable & Preparing for Entries Covering the Accruals & The payment For Suppliers & Subcontractors
- Performing Bank Reconciliation & its related Adjustments, also handling the fixed assets registry with all its adjustments.
- That is all for the last Two Years during the period that I spent over there before that I have appointed to handle the Department of Treasury & Advances, by managing the Transactions of Treasury & to Prepare & Audit the Journal Entries Which Is Generated in Treasury & Advances Depts. by My Self & Other Companions
- Performing bank reconciliation, holding all the cash management activities, arrange & issuing checks for suppliers, performing analysis for cash movement & its journal entries.
- Handling all the financial affairs for Accounts Receivable
- Performing the general & administrative Monthly Expenses Analysis, Preparing for Monthly Journal Entries & Adjustments.
- Was appointed to establish the branch of Sudan from the financial aspects, handling the whole accounting cycle, controlling relations with banks, reporting financial statement to the headquarter. Allocating costs & expenses for each site.
- During working at the company, I have traveled in several business missions in Sudan, Algeria, Morocco, Tunisia, & Nigeria
Education
Accounting
Ain Shams University
Cairo, Egypt01.2000
Master of Business Administration - Financial Management
Pace University
USA08.2014
Certificate - Cost Analysis and Control
American University in Cairo
Cairo, Egypt01.2010
Certificate - International Financial Management
American university in Cairo
Cairo, Egypt01.2009
Diploma - Financial Analysis and feasibility Study
Faculty of Commerce Cairo University
Cairo, Egypt01.2006
Skills
Financial reporting
Budget development
Accounting principles
Financial management
Corporate leadership
Cash flow management
Business forecasting
Strategic planning
Tax planning and strategy
Financial administration
Operational decision making
Audit coordination
Strategic financial planning
Infrastructure planning
Regulatory compliance
Risk management
Working capital management
Financial process improvement
Reporting expertise
Accounting principles understanding
ERP system implementation
Financial policy creation
Financial strategy development
Regulatory Compliance Knowledge
Documentation requirements
Mergers and acquisitions experience
Debt management expertise
Quantitative analysis
Business valuation techniques
Performance metrics analysis
Risk management proficiency
Infrastructure development
Corporate governance
Cost reduction strategies
Cross-functional team leadership
Financial analysis expertise
Profit and loss management
Annual planning
Portfolio management
Quality control planning
Revenue growth
Business development
Business planning
Organizational development
References
References Furnished upon request
Accomplishments
- Implementing new ERP (Oracle): Being the project manager of implementing oracle as preparing & processing the synchronization study, & in sequence building the blue print of the project with implementer partner of Oracle, till finalizing the whole process by success of implementation.
- Restructuring the whole purchasing cycle: By applying new techniques during purchasing process, including supplier assessment & evaluation on semiannual basis, & expanding credit terms and facilities provided by current suppliers, helping the purchasing dept. to find new channels of supply to fulfill the growth demand regarding goods & services for the corporate.
- Building up comprehensive Costing model: The company was facing a critical problem in its costing system which led to misleading information for pricing mechanism. as I developed new treatment for costing of new products which lead to more effective & efficient mechanism of pricing, in sequence it turned to have it positive impact on the volume & kind of sales
- Produce financial forecasts that contemplate multiple possible future scenarios with beginning of Corona virus spread, has protected the company of losing resources by SAR 4M.
- Being involved in supply chain cases Enhance costing I was having the opportunity to minimize the cost of several products by giving the advice about changing production plans which lead to increase the production gradually, to fulfill market needs, and create the safety stoke needed.
- Negotiations with several banks, lead to gain an excellent deal of financing operations of the corporate by very competitive interest rates & deals.
Certification
Certified Financial Planner (CFP), June 2018
Timeline
Chief Financial Officer
Riyadh Investments Group
06.2022 - Current
Finance Director
Balubaid Group Affiliate Jeddah
06.2017 - 05.2022
Finance Manager
AlKharafy Group – Affiliates
08.2015 - 05.2017
Finance Director
MHC Constructions
06.2011 - 05.2015
Accounting Manager
Al Rashidy Al Mizan
01.2008 - 05.2011
Section Head
Wyeth-Ayerst Pharmaceuticals Affiliate of (Pfizer)
06.2004 - 01.2008
Accountant
Alan Dick-North Africa Inc.-Telecommunication Affiliate of Alan Dick – United Kingdom
10.1999 - 06.2004
Master of Business Administration - Financial Management
Pace University
Certificate - International Financial Management
American university in Cairo
Diploma - Financial Analysis and feasibility Study
Faculty of Commerce Cairo University
Certificate - Cost Analysis and Control
American University in Cairo
Accounting
Ain Shams University
Work Availability
monday
tuesday
wednesday
thursday
friday
saturday
sunday
morning
afternoon
evening
swipe to browse
Languages
English
Bilingual or Proficient (C2)
Arabic
Bilingual or Proficient (C2)