Finance Manager
(21 Experience years)
(Doctorate Degree)
Interested with vacancy
Jeddah, Saudi Arabia
00966508334735 00966559212355
shaikhriyaj@yahoo.com
Chartered Accountant, Motivated and versatile finance executive with more than twenty-seven years of experience directing finance operations. Developed system to effectively integrate reporting, budgeting, strategic planning in order to optimize company value, maximize cash flow and minimize risk. Effective communicator and dynamic decision maker, driven by solid analytical and leadership skills. Have improved profitability goals through insightful forecasting, positive cultural change and innovative process improvements
Manufacturing plant to extrude various types of Aluminium profiles. The following are my key achievements: • Monitored & improved cash flow by controlling overdue collections and decide priorities of application of funds. • Developing and defining the overall strategy and representing progress on strategic goals to stakeholders. • Arranged loan from banks / private finance from ORIX / AJIL. • Applied for bank facility from various banks for working capital. • Provided funds to complete project on time. Control and save project cost. • Prepared budget, monitor / control expenses and highlight major unfavorable variances. • Prepared business plan for next 10 years. Prepared forecast next 6 months • Cost reduction in billet consumption, die cost and consumable items. • Control generator rent and other expenses. • Prepared cost benefit analysis for powder coating system. • Product costing and monthly pricing based on monthly LME prices. • Monitored scrap cost and control excessive scrap. • Managed monthly / quarterly business review process and periodic reporting to the Board of Directors. • Supervised preparation of monthly financial reports, financial controls matrix and ensuring overall IFRS compliance. • Implemented vat regulations and submit monthly vat return. • Contract evaluation, negotiations and build relationship with business partners, Maaden, Alba, etc. • Directed Internal audit / control system for improvement and adherence policy and procedure. • Improved productivity of packing section by incentive scheme. • Established policies / procedure. Implemented ERP system Odoo. • Completed external Financial Audit year 2018 according to IFRS with PKF Bassam auditor. • Represent company to banks, financial partners, investors, public officials and auditor.
Manufacturing of Specialty chemicals used for ready mix concrete. The following are key achievements: • Advised to top management financial implication. • Acquired bank facility from Riyadh bank SR 25 million & SABB SR 15 million. • SIDF approved project finance SR 25 million. • Improved cash flow. Control credit days/amount and established appropriate credit policies. • Supervised preparation of monthly financial reports, ensured compliance and reduced risk exposure. • Implemented cost reduction. Saved annual 5% of fixed cost. • Prepared financial forecasts and business plan for next 10 years. • Prepared feasibility study of new product PCE. • Reduced liabilities in contracts, leases, loan covenants of the board of directors. • Controlled incoming & outgoing letter of credit, advice amendments and control LC status report. • Internal audit of various departments and provide improvement report to management. • Approved contracts & maintain relationship with suppliers. • Prepare Budget. Monitor / control expenses against budget. • Enhanced low cost chemical formula, reduce process time & down time of pre heating reactors, reduce wastage of chemicals and improve COGS by 1.25%. • Implemented productivity based production incentive scheme. Prepare Product costing, establish selling price and discount policy. • Directed physical stock taking. Control inventory with zero non-moving stock and maintain stock within limit. • Directed the preparation of standard accounting procedures, ensure strict adherence to the chart of accounts. • Implement ERP system. • Implemented policies, procedures and internal control system to safeguard assets. • Coordinate and facilitates the work of external auditors.
Reporting to CEO, the following key activities were performed during this period: • SIDF loans claim submitted, their auditor verified the claims and paid loan amount. • Finalize budgets preparation, proactively monitors operating expenses and controls variances. • Approach to various Banks for additional bank facility for working capital and finally Saudi Investment banks approved the facility SR 15m. • Financial Audit for the year 2009 completed, arranged board meeting, prepare presentation to the board and board has approved the audited financial. • Advise top management of financial condition of the company. • Establishes contribution base sales commission policy, employee’s loan policy & appropriate credit policies
Finance Manager of the company dealing in manufacturing of Pipes / PVC Windows, having production plants and dealers across GCC, reporting to Managing Director. Job profile includes: • Developed high performance finance team to drive disciplined growth and strengthen controls. • Oversee the company’s cash collection activities, establishes appropriate credit policies. • Enforced budget policies and oversees budgets preparation. • Monitored and controlled variances. Establish system to control operating expenses, personally monitors operating expenditures, highlights major unfavorable variances. • Review letter of credit and advice amendments. • Direct the development, updating and administration of cost accounting systems. • Review & finalize contractual terms, conditions for special projects and provide better price. • Motivated employees to increased productivity by providing fabricated fitting output based incentive scheme and overall increase production by 11.5%. • Reduced over weight of pipes by standardizing size and length, improve delivery. • Reduced loading time, recycle waste pipe, reduce mold setting, down or change time by preheating of mold, overall saving in conversion cost by 5.5%. • Improve production time of windows by kaizen takt time, walk time study, reduced manpower by time study. Reduce project completion time by complete job production system and improve pricing system of windows by cost cutting. • Rearranging store, improve material issuing system, returning non-moving stock to supplier, special price on slow moving accessories and reduce inventory by 30%. • Supervise preparation of monthly financial reports. Coordinate / facilitates the work of the internal / external auditors. Key achievements: As Kaizen Team leader, reduced non-moving stock by SR 0.7 million. Increased productivity of Pipe Extrusion & Window Fabrication shop. Conducted ISO audit as a Team leader. Selected as the best employee for the year 2002. Received awards for 80-20 Analysis & for feasibility study of accordion doors. Formation and implementation of financial policies & procedures in compliance with overall policies Set the KPI of each dept. Suggested and implemented internal control systems.
Special Achievements: Control Budget of Expansion Project 4 billion Finance Reports. • Prepared MIS Report, Flash report, ORS report, variance report, cost per unit statement for chemicals. • Prepared budget schedule, co-ordinate with budget committee and prepare budgeted financial • Prepared monthly comparative financial statements. • Working in financial accounting module in SAP R/3. Establish financial accounting checklist for controls. • Scrutinized General Ledger & Sub-Ledgers. • Checking entries in books of accounts and pass rectification or reclassification entries
• Mentoring and motivating a team of 5 accountants to ensure smooth operations of finance department. • Prepare MIS Report, Trail Balances, P&L a/c, Balance sheet, Profitability statement, Expansion Projects & Fixed assets status report and Variance analysis Report. Cost & profit of pumps / valves. • Passing monthly closing entries / rectification / adjustment / reclassification entries through journal voucher. Verify payroll with employee’s receivable accounts, loans and deduction of employees. • Reconciliation’s like bank, advances for expenses, loans & payable. • Check account receivable balances; pass adjustment entries in system and issue debit or credit notes. • Calculate turnover discount of dealers. • Verify purchase bills passed, check supplies outstanding payable balances. Fixed assets accounting, transfer construction in progress to fixed assets and pass depreciation entries
• Fixation of selling price of MCB & RCCB, prepare dealers price and export price list. • Prepare material consumption statement of copper; prepare statement of rejects, reworks, wastage, scrap cost of mechanisms and other analytical statements. • Prepare budget and comparative statements of budgets versus actual. Internal audit of various departments • Prepare fund flow statement and prospect for the period. • Provide departmental expenses details and analyze overruns. Identify and reduce non-moving stock. • Checking entries in the books of accounts & making necessary adjustment to settle the accounts
• Prepare financial reports, checking major vouchers, bills & documents. • Checking entries in the books of accounts & making necessary adjustment to settle the accounts, scrutiny of General Ledger & Sub-Ledgers. • Determine fund requirement, present financial proposal for MIDC. • Ascertain cost of each machine. Determine break-even point of machines. • Fixation of selling price, prepare dealers price and export price list. • Prepare budget, comparative statements of budget & actual, prepare monthly variance report
Chartered Accountant
M. Com
B. Com
India
1964-03-23
Male
Married