Summary
Overview
Work History
Education
Skills
Marital status
Nationality
Timeline
Generic

Mohamad Ibrahim

Financial Controller
Al-Khobar, Saudi Arabia

Summary

Experienced Financial Controller with 18 years' achievement leading Finance on complex, $multi-millions Oil & Gas service companies, Excels at P&L, Working Capital, Cash Flow and Profitability Management, Forecasting, Budgeting, Reconciliation, GAAP Compliance, and Receivables management, proven ability to cut costs and improve IBT.

Overview

18
18
years of professional experience
4
4
years of post-secondary education
2
2
Languages

Work History

Well Production & Completion Division Controller

Weatherford Energy Services
02.2021 - Current
  • Leads Finance and Operations controls for division consists of seven product lines, which represents 60% of Weatherford Saudi market.
  • Develops and executes Finance Strategy plan for ongoing operations.
  • Produces financial reports including annual budget, rolling forecast, profit and loss statement.
  • Evaluates financial performances, and ensures budget objectives are met by analyzing variances, initiating corrective actions.
  • Produces detailed margin analyses by project and by area
  • Ensures full compliance with internal policies, code of ethics and GAAP
  • Analyses profitability of new business opportunities, reviews contracts, Tendering terms, evaluates risk versus reward.
  • Achieved IBT improvement of 209 bps through cost initiatives ex supplier negotiation and cost optimization
  • Maximized free cash flow by working capital component to maximize cash, reduced DSO by more than 19 days.
  • Work with external & internal auditors in performing financial audits and implementing audit recommendations.

Financial Controller Well Completions

Schlumberger
07.2018 - 01.2021
  • Led Finance and Operations controls for +$350m annual revenue business, which represents 25% of Schlumberger's Well Completion activity worldwide.
  • Produced financial reports including annual budget, rolling forecast, profit and loss statement.
  • With full accountability for P&L and segment profitability, leads Forecasting, Budgeting, Reconciliation, GAAP Compliance, and manages a team of 4 professionals.
  • Oversee controls on segment working capital of $ 120m, with average inventory of $70m, receivables of $50m.
  • Drove robust internal controls and full compliance with Schlumberger Financial procedures and code of ethics.
  • Encouraged strong focus on receivables management, has cut segment DSO to 55 days from +118 days.
  • Maximized free cash flow by managing working capital component, participated in reducing inventory level by $10m through monitoring slow moving items and finding new opportunities in different countries.
  • Continuously improved Finance function processes, Ex new invoicing process, and Inventory tracking system, achieved IBT improvement of 200 bps through cost control initiatives, re-engineered bonus / over time policies and localization for new products.
  • Deigned and delivered financial training for 40 field engineers and managers.

Financial Controller Well Fracturing

Schlumberger
06.2017 - 06.2018
  • Led Operations controls on multiple projects including conventional / unconventional wells and offshore fracturing for +$150m annual revenue business unit.
  • Fully accountable for overall segment financial management and profitability.
  • Prepared integrated mega tender incorporating 8 Schlumberger product lines with value of $1.5B.
  • Achieved IBT improvement of 132 bps through cost initiatives ex like localization, product versioning and people and assets utilization.
  • Maximized free cash flow by working capital component to maximize cash, reduced DSO by more than 38 days.
  • Drove full compliance with internal policies, code of ethics and GAAP.
  • Produced periodic financial reports including annual budgeting, rolling forecast, profit and loss statement.
  • Conducted financial training for field engineers and managers.

BAPCO Project Operations Controller

Schlumberger
09.2016 - 05.2017
  • Led Operations Controls on +$90m high profile contract to drill 1st integrated offshore well in Bahrain, which was announced as big discovery and included 7 Schlumberger product lines.
  • Established BAPCO Project Team including PMO and Finance function, defined all project processes, policies and procedures.
  • Managed all Project Finance, accountable for project profitability and economic evaluation.
  • Performed variance analysis of project performance against forecast benchmark and identified actions to improve project profitability through back to back contracts, 3rd party management and Non-productive time optimization.
  • Produced financial reports including annual budgeting, rolling forecast, profit and loss statement.

Transformation Financial Analyst

Schlumberger
07.2014 - 08.2016
  • Led financial analysis on $530m Enterprise transformation program, which was a vision of becoming the best-run company in the world.
  • Participated in over 35 initiatives including Technology Lifecycle Management, asset and people utilization, supplier management, receivables management, delivered sustainable annual savings of $62m.

BITs Manufacturing Center Financial Analyst

Schlumberger
09.2012 - 06.2014
  • Responsible for overall financial management and profitability at one of Schlumberger's five key global Drilling Bits manufacturing centers with responsibility for Middle East and central Asia.
  • Established and designed manufacturing center project financial processes and Absorption costing.
  • Cut repair cost by 2% through cost optimization.

Udhyliah Financial Analyst

Schlumberger
01.2010 - 08.2012
  • Produces financial reports including annual budget, rolling forecast, profit and loss statement.
  • Supported UDH Schlumberger Manager and Operation Team in Ghawar oilfield, the biggest in the world.
  • Led team of 3 in Accounts Receivables.
  • Maximized free cash flow by strong receivable management and collections effectiveness, cut DSO to 82 days vs country average of +90 days.

Management Accountant

Schlumberger
06.2008 - 12.2009
  • Produced timely and reliable management monthly financial reports including Profit & Loss, budgets, variance analysis and commentaries.
  • Reviewed and reconciled Balance sheet accounts, prepared associated BS notes.
  • Controlled and prepared general ledger entries including prepaid, accruals, allocations, etc.

External Auditor

Moore & Stephens Local Member
10.2006 - 05.2008
  • Verified clients' financial records, audited bookkeeping and accounting methods.
  • Completed audit in compliance with all regulations and guidelines, including Generally Accepted Auditing Standards (GAAS).

Education

Bachelor of accounting -

Tishreen University
Latakia Syria
07.2002 - 09.2006

Skills

Finance Controls

P&L, Balance Sheet & Cash Flow

Internal control & Audit

Financial Analysis & Reporting

Working Capital

Forecasting & Budgeting

GAAP Compliance

Process Re-engineering

Advanced excel

Team work

Interpersonal Skills

Decision-making skills

Working under pressure

Microsoft office

Budget development

Trend analysis

Hyperion

Marital status

Married


Nationality

Dual Nationality Saint Lucian & Syrian

Timeline

Well Production & Completion Division Controller

Weatherford Energy Services
02.2021 - Current

Financial Controller Well Completions

Schlumberger
07.2018 - 01.2021

Financial Controller Well Fracturing

Schlumberger
06.2017 - 06.2018

BAPCO Project Operations Controller

Schlumberger
09.2016 - 05.2017

Transformation Financial Analyst

Schlumberger
07.2014 - 08.2016

BITs Manufacturing Center Financial Analyst

Schlumberger
09.2012 - 06.2014

Udhyliah Financial Analyst

Schlumberger
01.2010 - 08.2012

Management Accountant

Schlumberger
06.2008 - 12.2009

External Auditor

Moore & Stephens Local Member
10.2006 - 05.2008

Bachelor of accounting -

Tishreen University
07.2002 - 09.2006

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Mohamad IbrahimFinancial Controller