Muhammad Wasif Rauf
Riyadh
Summary
Accomplished finance professional with expertise in financial control and strategy, including budget variance analysis, CAPEX and OPEX planning, and cost accounting. Proficient in enterprise ERP infrastructure with hands-on experience in SAP FICO, SAP Project Systems modules, Oracle R12, and Yardi. Demonstrated ability to ensure KSA tax and regulatory compliance through ZATCA E-Invoicing Phase 2 implementation and VAT returns. Skilled in treasury and payroll controls, including WPS processing and cash flow forecasting. Adept at project portfolio governance with a focus on risk mitigation and multi-vendor contract administration. Committed to aligning with KSA local content requirements by optimising LCGPA adherence.
Overview
1
1
Certification
13
13
years of professional experience
Work history
Finance Manager
Acciona Cultura
Riyadh, KSA
2024.07 - 2026.07
- Key Project: Jewels in Riyadh Portfolio / Asset Value: SAR 400 Million
- Stakeholders: Royal Commission for Riyadh City (RCRC), Riyadh Art, Dar International, Proger, Al Ghazi
- Fiscal Control and Management: Spearhead total financial control, budgetary structures, and cost breakdown matrices for the SAR 400 Million 'Jewels in Riyadh' megaproject portfolio.
- SAP Systems Control: Leverage SAP FICO and Project Systems (PS) modules to manage baseline allocations, real-time commitments, budget distribution, and forecast cost variance reporting across multi-matrix work breakdown structures (WBS).
- ZATCA E-Invoicing Phase 2: Direct the continuous implementation and compliance preparation for ZATCA Phase 2 (Integrations Phase), executing enforced stringent internal checking procedures to validate that all ongoing operational cost allocations strictly map to the authorized contractual scopes of implementation partners.
- Local Content Maximization: Championed national Saudi Vision 2030 initiatives by enforcing LCGPA Compliance Protocols, systematically giving preference to local goods and national product mandatory lists based on commercial competitive pricing.
- KSA Tax Governance: Own the calculation, reconciliation, and accurate submission of monthly Value Added Tax (VAT) returns and complex Withholding Tax (WHT) filings relating to international and local service providers.
- WPS and Payroll Operations: Enforce absolute regulatory compliance by synchronizing payroll processing with the Mudad portal, preventing labor-related compliance gaps or compliance blocks.
- Procurement Governance: Oversee vendor disbursement lifecycles, ensuring rigorous milestone verification in strict alignment with contractual terms and RCRC Procurement Procedures.
- Vendor Accounting Alignment: Partner with external execution entities to engineer optimized cost accounting frameworks that guarantee seamless compliance with RCRC financial regulations.
- Milestone Review and Analytics: Evaluate contractor project schedules and baseline progress targets to formulate strategic, risk-adjusted payment approval recommendations to Riyadh Art leadership.
- MIS Systems Design: Architected an advanced project cost control framework integrated into Riyadh Art's Management Information System (MIS), automating monthly variance analysis, task-level reporting, and predictive cash flow forecasting.
- Contractual Audit Controls: Enforced stringent internal checking procedures to validate that all ongoing operational cost allocations strictly map to the authorized contractual scopes of implementation partners.
- Local Content Maximization: Championed national Saudi Vision 2030 initiatives by enforcing LCGPA Compliance Protocols, systematically giving preference to local goods and national product mandatory lists based on commercial competitive pricing.
Chief Accountant
Future Plus Preforms
Riyadh, KSA
2022.07 - 2024.06
- Team Leadership and SAP Oversight: Managed and optimized a cross-functional accounting department overseeing Tax, Zakat, GOSI, and multi-tier corporate payroll operations, driving SAP system data integrity for accounting entries.
- Financial Reporting and Closure: Directed the accurate close and timely submission of monthly and annual capital and revenue budgets for the plastic manufacturing division.
- Performance Monitoring: Engineered financial performance trackers to flag production variance metrics, protecting bottom-line manufacturing margins.
Senior Finance and Leasing Officer
Nakheel P.J.S.C.
Dubai, UAE
2021.02 - 2022.06
- Boardroom MIS Dashboards: Formulated and presented high-level corporate financial KPIs (EBITDA, Service Charge yields, Marketing Levies) to the Board of Directors.
- Commercial Forecasting: Owned the budgeting, long-term forecasting, and Turnover Rent (TOR) models for retail spaces based on complex lease expiry trends and verified tenant sales audits.
- IFRS Accounting Expertise: Acted as technical lead for the rigid implementation of IFRS 16 (Leases), IAS 17, and IFRS 15 (Revenue from Contracts with Customers) across premium commercial real estate assets.
- Systems Architecture: Collaborated directly with Oracle and Yardi enterprise consultants to conceptualize and deploy enhanced database design boards for automated asset tracking.
Finance Manager
HTS Interior Design LLC
Dubai, UAE
2018.12 - 2021.01
- Corporate Treasury: Managed holistic cash flow forecasting, institutional banking relationships, VAT compliance filing, and corporate audit procedures.
Finance Manager
Nejoum Al Jazeera Used Cars LLC
Sharjah, UAE
2018.02 - 2018.11
- Operational Control: Managed commercial budgeting, cross-border transactional analysis, and structured reporting frameworks for international import operations.
Assistant Finance Manager and Cost Accountant
Inter Ocean Ship Repair LLC
Dubai, UAE
2013.03 - 2018.01
- Trade Finance: Handled commercial credit instruments including invoice discounting, overdraft tracking, bank guarantees, and Letters of Credit.
Education
Bachelor of Commerce (B.Com) -
University of the Punjab
Lahore, PakistanSkills
- Financial Control and Strategy: Budget Variance Analysis, CAPEX Planning, OPEX Planning, Cost Accounting, Corporate Governance
- Enterprise ERP Infrastructure: SAP FICO, SAP Project Systems modules, Oracle R12, Yardi, Advanced Financial Modeling, Automated MIS Dashboards
- KSA Tax and Regulatory Compliance: ZATCA E-Invoicing Phase 2, Value Added Tax (VAT) Returns, Withholding Tax (WHT) Filing
- Treasury and Payroll Controls: Wage Protection System (WPS) Processing, Cash Flow Forecasting, GOSI, Mudad and Qiwa Platforms
- Project Portfolio Governance: Milestone Progress Valuations, Multi-Vendor Contract Administration, Risk Mitigation
- KSA Local Content Alignment: LCGPA Optimization, Mandatory Product List Adherence, Value-Add Local Sourcing
Certification
- Decision-Making and Scenario Planning Analysis Training | Manchester Business School, Dubai (2017)
- Advanced Project Accounting Certification Course | Grant Thornton, Dubai (2017)
- Activity Based Costing in Ship Repair Business Training | Talal Abu Ghazaleh, Dubai (2014)
Accomplishments
- Revenue Optimization (Nakheel): Led a specialized team that restructured the complex revenue recognition model for Ibn Battuta Mall (680+ retail outlets), mapping out short and long-term financial impacts of COVID-19 rental relief adjustments.
- Megaproject Delivery (HTS): Functioned as Finance Manager for the Thailand and Uzbekistan Pavilions at Expo 2020 Dubai, driving seamless invoicing, payable clearings, and budget controls to close the project on schedule whilst handling friction.
- Supply Chain Cost Reduction (Nejoum): Engineered a digital clearing pipeline connecting US and UAE financial registries, radically reducing customs clearance errors and avoiding costly port storage penalties.
- Activity-Based Costing (Inter Ocean): Pioneered an Activity-Based Costing (ABC) Mechanism for ship maintenance divisions, capturing labor idle time and equipment opportunity costs to dramatically enhance gross margins.
Affiliations
- Chartered Financial Analyst (CFA) Candidate, Level II Candidate, Associate Member | CFA Institute, USA
- Saudi Organization for Chartered and Professional Accountants (SOCPA), Registered Member | KSA
- Association of Chartered Certified Accountants (ACCA), Fellow Member, FCCA (2020–Present)
- Accountants and Auditors Association (AAAEC), Registered Member (2012–2015) | UAE
- Advanced Diploma in Accounting and Business (2009–2011) | UK
Timeline
Finance Manager
Acciona Cultura
2024.07 - 2026.07
Chief Accountant
Future Plus Preforms
2022.07 - 2024.06
Senior Finance and Leasing Officer
Nakheel P.J.S.C.
2021.02 - 2022.06
Finance Manager
HTS Interior Design LLC
2018.12 - 2021.01
Finance Manager
Nejoum Al Jazeera Used Cars LLC
2018.02 - 2018.11
Assistant Finance Manager and Cost Accountant
Inter Ocean Ship Repair LLC
2013.03 - 2018.01
Bachelor of Commerce (B.Com) -
University of the Punjab