Ahmed Shalaby

• Lead Financial Controlling & Reporting (FC&R) function for KSA market, ensuring full compliance with Group accounting policies, IFRS, and local regulatory requirements.

• Facilitates smooth audits with external, internal auditors and local tax authorities ZATCA.

• Oversee monthly and year-end closing processes, including SAP reporting, financial statements, and group consolidation submissions, ensuring timely, accurate, and audit-ready outputs.

• Direct preparation and analysis of financial reports, including trial balance reviews, balance sheet variance analysis, and monthly performance packs for both local and regional management.

• Supervise taxation activities, including VAT, WHT, ZAKAT, and CIT filings, ensuring timely and accurate submissions and leading communication with ZATCA and external advisors.

• Oversee treasury operations, including cash flow forecasting, bank reconciliations, liquidity planning, and payment approval processes in coordination with regional treasury policies.

• Manage and develop team of 11 finance professionals, setting objectives, mentoring staff, overseeing performance reviews, and ensuring culture of continuous improvement and compliance.

• Coordinate and support internal and external audits, ensuring proper documentation, timely responses, and implementation of corrective actions or process improvements.

• Collaborate with cross-functional departments including FP&A, Finance operations, Tax, and Commercial teams to ensure alignment of financial processes, data integrity, and policy compliance.

• Drive implementation and improvement of internal controls, ICS testing, and financial risk management processes across all finance related operations in Saudi entity.

• Represent KSA finance function in regional finance leadership network, contributing to best practice sharing, process harmonization, and strategic initiatives across MEIA markets.

• Monitored and analyzed business performance to identify areas of improvement and make necessary adjustments.
• Ensure sending weekly, monthly and quarterly financial reporting to top management reflecting performance, and to help in taking decisions.
• Monitor actual invoicing of multiple projects across different categories and measure performance against one year budget.
• Develop and maintain fixed assets register for closed projects and work in progress, in accordance with IFRS Standards (IAS 16) and Royal Commission practices.
• Develop one-year budget for each department within program (Design, PMC, Construction, Irrigation, Tree Supply, Etc.), and compile it with full program budget.
• Oversee full program budget, KPIs and phasing cross function with other departments.
• Develop cost control process to limit overspending, approving variances and revise budget.
• Work on mitigation plans for overspend budget cross functionally in way to save program strategy related KPIs.
• Develop financial policies and procedures for invoicing (AP), fixed assets, budget, etc.
• Assessing financial viability for companies during tender process and send it officially to legal and procurement departments in Royal Commission for Riyadh City RCRC.
• Work cross functional with head of business development and strategy department, to create business plans includes all components of business management cycle in tightly integrated way, including strategy and long-term plan, annual plan, business reporting and analysis and forecast.
• Enrolled as part of quality leadership in program to ensure delivery of high-quality service to client.
• Hold project coordinator position in building and implementing of project management information system PMIS, ensure that all business processes and related workflows are system automated and working homogeneously.
• Onboarded new employees with training and new hire documentation.
• Facilitated successful cross-functional collaborations for completion of key projects, fostering strong working relationships among team members.
• Championed diversity and inclusion efforts within workplace, resulting in inclusive environment that fostered creativity and innovation among employees from various backgrounds.
• Enhanced customer satisfaction by resolving disputes promptly, maintaining open lines of communication, and ensuring high-quality service delivery.
• Initiated and implemented key policy reforms, including:
• Replacing petty cash reimbursements with corporate procurement card program, after presenting business case to Group Treasury and securing required approvals.
• Amending customer refund process to mandate repayment to original payment source (rather than via wire transfer), enhancing compliance, audit traceability, and customer protection.
• Manage complex tax accounting areas, including calculation of deferred tax assets and liabilities, reconciliation between temporary and permanent differences, and monitoring aging and realization of deferred tax positions in line with IFRS and local regulations.
• Act as local finance controller for ESG reporting, ensuring data integrity, alignment with Group sustainability frameworks, and timely submission of environmental, social, and governance disclosures for regional and global consolidation.

• Work as a finance expert for one of the biggest petrochemical companies in the Middle East and Asia. Manage a team of 18 professional accountants, solving complex accounting matters involved in merging and acquisition, allocation of goodwill, push down accounting, budgeting, raising funds, treasury management, review detailed managerial reports, review subsidiaries' and associates' budgets and financial reporting packages, supervise the work of the finance department and report directly to the Deputy Chief Executive Officer DCEO.
• Perform a monthly comprehensive financial and managerial reports for the Group including subsidiaries and associates (each on standalone basis as well), capturing performance against budget and detailed review for margin profitability and cash flow analysis.
• Review weekly cash forecast (receivables – payables), time deposits maturity dates and match it with the business needs.
• Perform detailed annual budget on each department level, ensure to reflect it on the system by account and sub-account, review detailed monthly BI report for variance analysis.
• Prepare a quarterly consolidated financial report for the group to be submitted for the ultimate parent company and regulatory bodies.
• Review detailed costing report for each product on a monthly basis, with a variance analysis against the budget.
• Prepare five-year plan for the company reflect future projects, types of financing and estimate its impact.
• Support corporate plan department in building a 20- and 40-years strategic plan for the company.
• Follow up on the introduction of new standards and its impact on the entity currently reviewing the impact of the new sustainability disclosures.
• Finalized the acquisition of 49% of SK picglobal (South Korea) M&A amounted to USD 466M.
• Perform special purpose financial statements in conformity with IFRS reconciled to South Korean statutory GAAP (applying push-down accounting).
• Updated the finance department policies and procedures with KPMG Dubai to improve the processes and make it suits to the current business needs.
• Conduct regular tests of controls over the accounting cycles and report to the top management the findings.
• Sold a non-operational line of business “sea cooling towers” SCT, estimated the selling price according to NPV study and present detailed calculations based on IFRS level and business management level.
• Introduced a new Business intelligence solution to the Oracle R12i system to generate excel reports which are useful and easy to analyze (Power BI).
• Review and modify the monthly financial reports presented to the top management.
• Complete complex impairment studies for investments located in Middle East, Asia, United States and Canada take into consideration alpha risk added by COVID 19.
• Analyze the impact of COVID 19 on the organization and reflect its effect on the five-year plan.
• Review sustainability report for the organization reflecting new challenges and measures taken by the management.
• Review the changes impacted the enterprise risk management plan as result of COVID 19.
• Designed a new detailed budget for the upcoming year including the operational expenditure for each department and CAPEX plan with slashing more than 30% from the post COVID budget in line with the ministry of finance directions.
• Handle governmental audit held by the state audit bureau.
• Handle the internal audit plan conducted from the parent company Kuwait Petroleum Company K.S.C. KPC.
• Manage the external audit, issue the signed financial statements after seven working days from the closing of the fiscal year, with a clean letter of representation.
• Finalizing with the corporate planning department and external advisors a business plan and feasibility studies for new opportunities.
• Held online weekly training session explaining IFRS standards for full accounting, planning and business monitoring teams across K-Companies of KPC.
• Review the group consolidation sheet, financial statements and disclosures in accordance with IFRS.
• Implement new module of Oracle system related to IFRS 16 to facilitate and accurately capture related transactions.
• Help in automating the accounting records by granting limited access to the Oracle system for other departments to feed it with the required data.
• Improved CAPEX process within the company.

• Perform acceptance and anti-money laundering assessments for new and existing clients.
• Prepare budget for each job, manage its economics and achieve the desired utilization rate.
• Understand business cycles, identify key controls and design test of controls to cover risks identified by audit assertions.
• Review financial statements in accordance with IFRS and tailor the accounting policies on a relevant basis.
• Perform complex consolidation sheet for holding companies have subsidiaries at different location following local GAAPs.
• Responsible for submitting and follow up on consultations regarding complex audit or accounting treatments and handling MELT team (a panel of partners) who has heavy inquiries and questionnaire to fulfill.
• Determine the recoverable value of non-financial assets by performing impairment study using value in use technique.
• Actively implement the new technology; transition introduced by the firm (bots to perform the associates work) new business intelligence techniques.
• Held accounting training sessions to my clients to introduce the new IFRS standards and its adoption and drafting financial statements in accordance with the IFRS., Attending audit committees and board of directors' meetings and held in charge for the communication with those charged with governance.
• Coaching and evaluating the annual performance for my down peers.
• Portfolio of clients managed:
• - Petrochemical Industries Company K.S.C.
• - Kuwait Aromatics Company K.S.C.
• - Kuwait Food Company K.S.C.
• - Al Kout Industrial Projects K.S.C. and its subsidiaries
• - QAF Holding Company K.S.C.C. and its subsidiaries
• - El Sewedy Electric Engineering Company W.L.L.
• - Saudi Projacs International (Saudi)
• - Safewater Chemicals Company L.L.C. (Abu Dhabi)

• Understand business cycles, identify key controls and design test of controls to cover risk identified by audit assertions.
• Perform audit for financial statement line items based on audit plan approved by the manager and partner at the planning phase.
• Handled complicated areas in the Oil and gas industry such as depletion calculation for Oil wells, inventory (pipelines) consumption, cost recovery complex calculation in accordance with the concession agreements.
• Prepare financial statements on modified accrual basis to be submitted to the ministry of Oil in Egypt.
• Conducting complex inventory counts for oil and gas companies located at Bourg AlArab, Ras Gharib, and red sea.
• Review the financial statements wording before issuance for the client.
• Portfolio of clients managed:
• - Edison Petroleum Company
• - Kuwait Energy PLC
• - Tenaris S.A.
• - Pyramids Drilling Company Egypt.
• - Bristol Myers Squibb