Ahmed Shalaby CMA CPA

Currently working as a Finance Reporting Manager for one of Egis Group project management offices, which manages one of Riyadh City mega programs (Green Riyadh), one of the most ambitious urban forestation projects in the world. My current role and KPIs are mentioned as below:

• Monitored and analyzed business performance to identify areas of improvement and make necessary adjustments.
• Ensure sending a weekly, monthly and quarterly financial reporting to top management reflecting the performance, and to help in taking decisions.
• Monitor the actual invoicing of multiple projects across different categories and measure the performance against a one year budget.
• Develop and maintain a fixed assets register for the closed projects and work in progress, in accordance with IFRS Standards (IAS 16) and Royal Commission practices.
• Develop a one year budget for each department within the program (Design, PMC, Construction, Irrigation, Tree Supply, Etc.), and compile it with the full program budget.
• Oversee the 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 a way to save the 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 the legal and procurement departments in the Royal Commission for Riyadh City RCRC.
• Work cross functional with the head of business development and strategy department, to create business plans includes all components of the business management cycle in a tightly integrated way, including the strategy and long-term plan, the annual plan, business reporting and analysis and the forecast.
• Enrolled as part of the quality leadership in the program to ensure delivering of high quality service to to the client.
• Hold a 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 the completion of key projects, fostering strong working relationships among team members.
• Championed diversity and inclusion efforts within the workplace, resulting in an 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.

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.

My role as a financial expert in PIC is broad and daily changing given the trust the top management have towards me, below is a part of my duties performed and responsibilities:

• 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 test 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.

My role in PwC was expanding in each year giving the nature of the business and the dynamic of the big four firms, below are examples for my duties but not limited to:

• 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 evaluate 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)

As per my contract the tasks allocated by my partners should be performed, this includes the below:

• 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