Fayd Arafa
Riyadh,Riyadh Region
Summary
A highly qualified CFO with over 14 years of experience in the construction and food & beverage sectors. Possessing a wealth of professional certifications in accounting, risk management, project management, and certified information systems auditing. Demonstrates a strong track record of effectively leading financial operations, enhancing risk management frameworks, and implementing strategic project initiatives. Committed to driving financial performance and ensuring compliance with regulatory standards while fostering a culture of continuous improvement and innovation within the organization.
Overview
13
13
years of professional experience
12132
12132
years of post-secondary education
Work history
Chief financial officer-CFO
Development Works Food Company
Riyadh, Riyadh Region
07.2024 - Current
- Developed and implemented financial strategies to optimise budget allocations.
- Collaborated with senior management to analyse financial performance and provide insights.
- Monitored cash flow and ensured effective management of financial resources.
- Prepared comprehensive financial reports to support strategic decision-making processes.
- Evaluated investment opportunities and assessed associated risks for informed choices.
- Established financial controls to enhance operational efficiency and compliance with regulations.
- Led initiatives to streamline accounting processes and improve overall accuracy.
- Facilitated cross-departmental communication to align financial goals with organisational objectives.
- Bolstered stakeholder confidence with comprehensive risk management strategies.
- Navigated corporate restructuring efforts successfully during challenging periods of change.
- Optimised capital structure by effectively managing debt and equity financing options.
- Championed use of advanced financial systems for better data analysis capability.
- Innovated investment strategies to maximise return on assets.
Finance manager
Development Works Ltd
Riyadh, Riyadh Region
01.2021 - 07.2024
- Developed comprehensive financial reports to aid strategic decision-making processes.
- Managed budgeting processes to ensure alignment with organisational financial goals.
- Analysed financial performance metrics to identify areas for cost optimisation.
- Collaborated with cross-functional teams to implement efficient financial controls.
- Oversaw financial forecasting activities to provide insights on future business trends.
- Trained and mentored junior finance team members in financial best practices.
- Streamlined invoicing procedures to enhance cash flow management and efficiency.
- Evaluated investment opportunities to support organisational growth initiatives.
- Conducted thorough risk assessments to mitigate potential losses.
- Collaborated closely with auditors to ensure smooth audit processes.
- Developed comprehensive financial reports for top management review.
- Facilitated capital-raising initiatives supporting business expansion efforts.
- Reduced operational costs by implementing cost-saving strategies.
- Analysed complex financial data, providing meaningful insights for company leadership.
- Negotiated favourable terms with vendors, achieving cost savings.
- Led forecasting exercises to anticipate future business needs.
- Guided merger and acquisition processes, ensuring seamless transitions.
- Trained staff on finance-related matters improving overall understanding and performance.
- Enhanced company profitability with strategic budget planning.
- Prepared regular cash flow reports assisting in better fund allocation.
- Managed a team of junior finance professionals, promoting professional development.
- Streamlined financial procedures to improve efficiency and accuracy.
- Reviewed and updated internal financial policies, ensuring compliance with regulations.
- Ensured accurate tax filings, avoiding penalties and interest charges.
- Provided key input in strategic decision-making meetings, influencing company direction.
- Liaised between finance department and other departments fostering inter-departmental collaboration.
- Implemented new financial systems enhancing data accessibility and reliability.
- Streamlined invoice processing reducing errors and delays.
- Oversaw financial reporting processes, maintaining accuracy and compliance with regulatory standards.
- Managed timely and accurate reporting of various financial transactions and information for detailed analysis.
- Directed budgeting and forecasting activities to align financial goals with organisational objectives.
- Managed cash flow and liquidity, mitigating financial risks and ensuring stability.
- Monitored and reviewed financial controls, processes and procedures to enable best practice development.
- Forecasted trends and interpreted cash flows to reliably inform business decisions.
- Developed thorough forecasting and cash-flow management processes to maximise progression and profitability.
- Consolidated comprehensive management accounts, integrating income statements, cashflow and balance sheets.
- Delivered regular management reporting and supervised quarterly tax calendar.
- Administered payroll processes for accurate, timely salary disbursements.
- Maintained KPI reporting tools for accurate, up-to-date financial data for decision-making.
- Worked to scale and enhance finance function, implementing new processes and refining existing ones.
- Conducted variance analysis to identify discrepancies and implement corrective actions.
- Identified areas for improvement and enhancements in financial processes and reporting mechanisms.
- Created analytical framework for identifying and developing financial growth opportunities.
Chief accountant
Al Taafuf Company for Electrical Works-STS
Riyadh, Riyadh Region
01.2013 - 12.2020
- Managed financial statements and ensured accuracy of accounting records.
- Prepared monthly budgets and forecasts to facilitate strategic planning.
- Oversaw compliance with tax regulations and financial reporting standards.
- Collaborated with cross-functional teams to streamline accounting processes.
- Developed financial policies and procedures to enhance operational efficiency.
- Trained and mentored junior accounting staff on best practices.
- Analyzed financial data to identify trends and inform decision making.
- Implemented cost control measures to optimise resource allocation.
- Strengthened financial operations by implementing new accounting systems and procedures.
- Enhanced financial reporting standards with stringent audit practices.
- Ensured smooth business transactions through diligent account reconciliation efforts.
- Coordinated finance activities across departments for operational efficiency.
- Led team in preparing annual reports, resulting in timely submissions.
- Managed payroll functions, ensuring accurate and timely processing.
- Maintained updated knowledge of relevant laws and regulations avoiding legal complications.
- Assisted board members with financial decision-making by providing expert advice on investment strategies.
- Implemented cost control measures to reduce unnecessary expenditure.
- Provided strategic direction for tax planning initiatives, yielding significant savings.
- Set up efficient invoicing system reducing payment delays.
- Streamlined audit processes to ensure regulatory compliance.
- Optimised cash flow by managing credit and collection procedures effectively.
- Collaborated with external auditors for accurate year-end audits.
- Handled complex financial data analysis tasks offering insightful business intelligence.
- Demonstrated keen attention to detail whilst reviewing contracts and agreements.
- Monitored financial performance indicators, identifying potential risks and opportunities.
- Reviewed and processed employee expense reports and vendor invoices for payment.
- Updated journal entries and accounts on accrual basis with Xero software.
Education
Bachelor of Commerce - Accountaing
Kafr El-Shikh University
EgyptDiploma - Dip IFRS
ACCA
UKDiploma - CISA
ISACA
USADiploma - PMP
PMI
USAMaster of Business Administration - Financial Accounting
Boston University
USADiploma - COSO
IIA
USASkills
- Financial reporting standards
- Complex problem analysis
- Relationship building with banks
- Supply chain finance understanding
- Credit control techniques
- Bench-Marking competency
- Business intelligence software
- Treasury operations
- Business intelligence tools
- Tax planning and strategy
- ERP systems use
- Capital allocation
- Equity financing
- Cost management strategies
- Strategic planning
- Regulatory compliance
- Capital structure control
- Cash flow management
- Operational leadership
- Budget development
- Audit coordination
- Sales forecasting
- Financial Forecasting
- Cost Accounting
- IFRS knowledge
- Advanced Microsoft Excel
- Budget governance
- Cash and liquidity risk management
- Financial risk simulations
- Profit and loss understanding
- Bank reconciliations
- Training staff
- Accounts payable reconciliation
- VAT calculations
- Accounts receivable
Languages
Arabic
Native
English
Fluent
Timeline
Chief financial officer-CFO
Development Works Food Company
07.2024 - Current
Finance manager
Development Works Ltd
01.2021 - 07.2024
Chief accountant
Al Taafuf Company for Electrical Works-STS
01.2013 - 12.2020
Bachelor of Commerce - Accountaing
Kafr El-Shikh University
Diploma - Dip IFRS
ACCA
Diploma - CISA
ISACA
Diploma - PMP
PMI
Master of Business Administration - Financial Accounting
Boston University
Diploma - COSO
IIA