Head of Finance Department (Director) - AJA Pharmaceutical - Saudi Chemical Holding - Hail, KSA
(2019-01)
AJA is a best of art Pharma manufacturing plant in Hail, covering the 5 lines of production. And working with prestigious multinational companies like GSK, Servier, Abbott, Lundbeck etc.
- Profitability Turnaround: Achieved a 9% profitability from a loss-making position through strategic financial planning and execution.
- Team Leadership: Successfully led and developed a high-performing team of 13 finance professionals, enhancing departmental efficiency and cohesion.
- Operational Optimization: Re-engineered financial processes and reporting systems to meet stringent Pharma industry standards.
- Financial Infrastructure Overhaul: Implemented critical financial systems and processes, including Oracle Fusion ERP, for improved operational effectiveness.
- Leverage Reduction: Achieved a 60% reduction in company leverage, significantly improving financial health and stability.
- Inventory Management: Reduced inventory levels by 25% and developed effective liquidation strategies for near-expiry stock.
- Spearheaded the development and implementation of financial strategies, converting a loss-making company to achieve a profitability of 9%.
- Managed a team of 13 finance professionals, fostering a collaborative environment that drove performance improvements and operational efficiency.
- Re-implemented the complete financial infrastructure for the manufacturing and commercial departments, aligning with Pharma Finance requirements.
- Defined and implemented revenue recognition principles and systems specific to the Pharma sector, ensuring compliance and accuracy.
- Evaluated and developed reporting structures for business portfolios by Line of Business (LOB), Product Line, and individual products from a financial operations perspective.
- Ensured compliance with financial regulations and standards, minimizing audit findings and enhancing internal controls.
- Developed and executed a monthly and quarterly closing plan with a Service Level Agreement (SLA) of 5 days.
- Prepared a comprehensive 10-year financial business plan for AJA Pharma, outlining strategic financial goals and projections.
- Implemented Pharma-specific financial processes for Quality, Licensing, and R&D departments.
- Enhanced cash payout strategies and optimized the SIDF investment portfolio, achieving a revised payback plan.
- Led the successful implementation of Oracle Fusion ERP, improving financial management and reporting capabilities.
- Reduced company leverage by 60% over two years, strengthening the financial stability of the organization.
- Addressed and resolved all internal audit observations, streamlining financial operations and ensuring compliance.
- Developed and tracked inventory KPIs, resulting in a 25% reduction in inventory levels.
- Formulated and executed a focused strategy for the liquidation of near-expiry stock with distributors, improving inventory turnover.
- Coordinated with the supply chain department to finalize comprehensive guidelines for all manufacturing transactions, improving process efficiency.
- Developed feasibility models for new product launches and projects, supporting strategic decision-making.
- Created a comprehensive monthly financial reporting pack for management, providing actionable insights and facilitating informed decisions.
- Collaborated with the audit committee to address and resolve critical findings, ensuring adherence to best practices and regulatory standards.
Head of Financial Planning / Group Financial Controller - Hoshan Co Holding - KSA
(2009-01 - 2019-12)
Hoshanco Holding is a diversified group of companies with the portfolio of Manufacturing, Distribution, Investment, Construction, Office Supplies, & Retail, with the revenue of SR 1 Billion. Responsible of all the financial Planning activities within the group. Direct controlling of financial planning structure in 6 companies of the group.
- Ensuring the monthly reporting for the management.
- Making and finalizing the policies and procedures for the financial activities in the business units.
- Prepared a complete financial plan for the group with complete Budget planning and operational KPI's.
- Development and enhancement of the finance infrastructure.
- Budget preparation and finalization at the group level.
- Development of the price control structure.
- Assuring the accuracy of the cost flow structure in SAP.
- Monitoring the inventory movement and assuring the optimum stock level.
- Making a comprehensive cash flow forecast planning.
- Finalizing the credit control policies and procedure.
- Monitoring the collection at worldwide level & assuring of the availability of funds.
- Implementation of the financial guidelines decided in the Executive meetings.
- Preparation and achievement of the Bench Mark Objectives.
- Coordinating with external auditors to finalize the financial statements before the end of every Quarter.
- Developed & Worked with the Feasibilities for the new Brand.
- Implementation of SAPFICO over the worldwide branches.
- Follow up with all the branch controllers about monthly GAP's between the Bench Mark Assigned and actual.
- Integration & Merging of the all the accounting activities to the Headquarter.
- Define objectives; implement policies & procedures and proposed changes in existing methods; planned organized and directed fiscal and management control functions.
Finance & Accounting Manager - ATLAS FILES Company (Hoshan Co Subsidiary) Staedtler, KSA - KSA
(2009-01 - 2011-01)
A subsidiary of Hoshan Holding. Atlas files is a manufacturing Concern working in collaboration with STEADLER Germany having 15 product lines and the only manufacturers of Files and STEADLER boll pens in KSA with the annual revenue of SAR 43 million and workforce of 180+. Responsible for all finance and accounting department activities while supervising the team of eight peoples.
- Prepare & finalize the workflow in the factory.
- Working with the supply chain departments to work in harmonization of the financial objectives.
- Implemented the Complete ERP in coordination with SAP consultant's.
- Finalizing day to day accounting and financing activities.
- Finalizing the monthly Cash flow forecast with the comparison to the actual for last months.
- Develop and supervise the Production Planning & Control Department.
- Preparation of Monthly financial report.
- Preparation of comprehensive financial reports by the end of every quarter with the comparison report of budget and last year actual.(4 W's analysis)
- Preparation of Budget.
- Finalizing the DZIT (Income tax dept) filing.
- Preparation of Financial statements and finalizing the FS with auditors by the end of each year.
- Ensuring the proper Cash inflow & Outflow as per the budget.
- Approving and finalizing the Standard Cost and Verifying the reasons of variance with actual.
- Reviewing the Production orders processing for WIP and approving the transaction movements for Raw Material and Finish Goods.
- Finalizing and approving the costing & the sales price for each item.
Finance Manager - Saudi Systems Corporation - KSA
(2002-01 - 2009-12)
SSC was a joint venture with ORACLE US for ERP implementation.
- Making a GAP analysis and 4 W's (Where we were, we are, we will & we should be) and suggesting the business strategies to cover the GAP.
- Making a feasibility study of all the expected investment projects and suggest to mgt.
- Supervise and finalizing the changes in accounting process.
- Approving all the JV's before their recording.
- Preparation of Budget and variance analyses on quarterly basis.
- Company Portfolio analysis and identifying major areas of interest.
- Generate monthly and bi-monthly financial statements; update cash flow forecast based on first two weeks of the month.
- Analyze and report on significant variances.
- Presenting the financial results to division heads on quarterly basis and discussing the reasons of variance and planning for the next quarter.
- Finalization of Financial report at the year-end.
- Coordinating with External Auditors by the time of final audit.
- Coordinating with the bank for LC's.
- Communicating with Bank for the purpose of facilities.
- Prepared Policies and Procedures related to Cash, Purchase, and Sales Stock etc.
Asst Manager Accounts - Ammar.tex.com - KSA
(1999-12 - 2002-01)
- Managing Accounts of the company.
- Making bank reconciliation statement.
- Extensive involvement in maintaining of client relationship at all levels.
- Reviewing the JV's before final posting.
- Communicating with the customers & vendors for collection and payments.
- Preparing the daily sales report.
