Chief Financial Officer (CFO)
ServeU LLC
Total years of experience :30 years, 3 Months
Additional Roles:
(Sept’17 - June’18) COO ServeU
(Apr’17 - Present) CFO The FitOut (Joinery & Interior Décor)
(Dec’17 - Apr’18) HEAD OF PMO - MD’S Office, Union Properties (Real Estate Developer)
• Reported to the Board of (ServeU, FitOut and Union Properties)
• Responsible for All Financial Reporting and Budgeting for ServeU and FitOut
• Executed Turnaround Financial & Org Restructuring Strategies for ServeU & Fitout
• Responsible for arranging working Capital, Acquisition and Real Estate Funding -(AED 100m - AED 200m)
• Involved in IPO Readiness and Group Restructuring Strategies
• Part of Steering Committee in Selection and Implementation of ERP Dynamics 365 and FSI Concept (CAFM) in ServeU & FitOut
• Responsible in setting up Commercial & Business Development Dept in ServeU
• Responsible in Setting up PMO in Union Properties which involved high level reviews of all Project feasibilities, Business Proposals, Mergers & Acquisitions, Property Leasing issues, engaged with Strategy Consultants extensively (PWC, A&M, Protiviti, Frost & Sullivan, EY)
• Reporting to the Executive Board
• Responsible for Change Management : Finance, IT and HR
• Business Process Restructuring involving Business Process Automation (ERP) from Selection to Implementation
• Implementation of Internal Audit Process: From Designing Internal Controls to writing Policies, Procedures and work instructions to finally monitoring and Control.
• Reviewed Financial Projections, Bank Funding and Optimization of working capital.
• Reviewed Business Plans and evaluated investment opportunities.
• Responsible for Business Development, Marketing, Strategic planning and establishment of core services
Specialist Service provided to clients:
• Telecom Cost Management, Telecom Service Provisioning, Dispute Management, Out-source accounting and admin services.
• Development of Corporate Strategies, Operational efficiencies, Key Performance indicators, Dash Board Developments, Management Performance Reports
• Designing Internal Control Systems, Revenue and Risk Assurance Programs
• Report to the Chief Financial Officer (HO) & General Manager (AUH Region).
• Responsible for Financial and Management Reporting as well as Revenue and Risk Assurance functions.
• Involved in creation and implementation of strategies for Region’s Performance Targets.
• Responsible for the preparation of Region’s Annual Budgets and MIS package.
• Report to the Chief Financial Officer (HO) & General Manager (AUH Region).
• Responsible for Financial and Management Reporting as well as Revenue and Risk Assurance functions.
• Involved in creation and implementation of strategies for Region’s Performance Targets.
• Responsible for the preparation of Region’s Annual Budgets and MIS package.
• Report to the General Manager and Senior Executive Vice-President Finance (HO)
• Responsible for the overall functioning of Management Accounts, Financial Accounts, Billing Control & Credit Control sections
• Involved in creation and implementation of strategies for Region’s Performance Targets
• Improve productivity / efficiency through process improvements
• Responsible for the preparation of Region’s Annual Budgets and monthly MIS package
• Monitoring and reporting of variances and exceptions
• Responsible for achieving Department Targets for collections, accuracy and completeness of processing transactions and Reporting deadlines
• Co-ordinating with Department Heads as well as Senior Vice Presidents at Head Office level for resolving issues
Achievements
• Reduced number of debtor days from 58 to 50 days by resolving operational issues.
• Increased total collections via PCPM (public cash payment machines) and On-Line (E-shop) by 40% thereby generating cost savings and reducing dependency on cashiers.
• Under my supervision, Al Ain finished the CDMS Project.
• Committee member for Tender evaluation & selection team.
• In-charge of CSIN (Customer Services Identification Number) project.
• Planning and re-structuring of Accounts section into more functional sections that involved smooth handover of responsibilities to accounts staff with clear objectives.
• Achieved approx 98% Revenue Assurance by implementing reconciliation controls
• Liased with IT and HO (Finance) to improve MIS exception Reports to highlight revenue leakages
• Reported to the GM and Chairman / Board
• Prepared corporate budgets and contributed significantly to strategy and planning
• Evaluated feasibilities and advised on new investment opportunities
• Project Leader in the evaluation and assessment of vendors for the ERP solution for Al Ghurair Centre
• Part of the team to implement corporate finance strategy on the Al Ghurair Centre expansion loan of AED 1.4billion
• Responsible for recruitment, training and outsourcing staff
• Reviewed and oversaw contractual agreement with third parties including Private Health Ins
• Responsible for arranging for Internal, external audits and other consultants’ assignments
Achievements
• Project Leader for the implementation of the ERP solution for Al Ghurair Centre. Involved in developing functional requirements, evaluating and assessing packages and the suitability of the vendors
• Improvements to the Budgeting and reporting Process, Reviewed and implemented MIS
• Improved Reporting System by providing information on Product Profitability, Segmental reporting and Cost Centres Profitability
• Set up subsidiary Companies as part of Group restructuring
• Organized Capital Distribution as part of Group Restructuring Process
• Set up an independent Department to deal with Labour & Immigration matters of the 4, 000 group staff members
* In charge of major audit assignments which included Service Industry clientele
* Performed audits in accordance with International Standards on Auditing and UAE Commercial Companies Act
Professional examination consisting of 6 papers. The aim of the certification is to be able to deal with Capital and Money Market concepts and dealings, Bank Finance, Trade Finance, Currency and Interest Risk Management by use of Hedging instruments.