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`Email: [email protected] / [email protected] ID: mynaveed53 : Mobile: 00966567866432/009197008570024Iqama status: Transferable within Saudi Arabia.https://sa.linkedin.com/in/mohammed-yousuf-b4b63510b
Profile Summary: Academically qualified Cost & Works Accountant (ICWA)/CMA with professional success of
over 24 years in steering entire range of finance and accounting operations with renowned commercial, industrial and various contracting establishments predominantly in Gulf Regions. Currently working in Al Arrab Contracting Riyadh (KSA) as a Chief Financial Officer. The experience combo includes 4years in Manufacturing, 4years in Trading and Service industries and 16 years in Engineering, Contracting, construction & service industries including Oil and Gas.
Proven competencies in mapping financial needs of the company and mobilizing short / long-term financial resources through banks /Financial Institutions/ and international financial institutions. Expert in Project financing/ Project Accounting, Defining Standard Operating Procedures, Formulating Budget and implementing Budgetary Controls to enforce fiscal discipline across all functional domains. Deft in monitoring monthly project cost accruals, revenue recognition, billing and unbilled revenues of all projects based on accounting norms and GAAP policies.
Strategic contributor in all key decisions of the company to generate financial advantage for overall operational competitiveness. Sound capabilities in developing and implementation of MIS reporting system including- global & internal Management reporting- to ensure smooth flow of vital information to top management. Adept in monitoring financial health, business risk, and providing analytical reports to CEO/ and the stakeholders.
Comprehensive hands on experience in implementation of ERPs (Oracle, SAP, HFM, Microsoft Dynamic, Quick Books and Open ERP) in MNC environments including training of end-users.
Adjudged a star performer in last three yearly appraisals. Team leader, trainer and a motivator with well-honed, analytical, problem solving and man-management skills. Superior written and verbal communication.
Expertise:Financial Control & Financial Strategy Management Accounting Budgeting & Cost Control Financial ModelsFinancial & MIS Reporting Project Management & Product CostingCash Flow & Working Capital Management. Group Accounts & ConsolidationsAudit of financials, IFRS & US GAAP MS Excel Advance Skills
Fund Management Debtors Control & liaising with lawyers.Oracle Financial and Crystal Reporting SOX /Corporate GovernanceCost estimation and Forecasting Corporate & VAT TaxationSystem Process Writing & Development Due DiligenceInventory Control & Internal Audit Change Management & Culture ShiftCorporate Finance & Re-structuring. Sub-Contractors and Contracts management Oracle implementation Talent hunt & MentoringPresenting Reports to Board of Directors Leadership & Team ManagementInvestment appraisals for projects, business Units and JV’s, for mergers & acquisitions.
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Mohammed YousufChief Financial Officer/Finance Director/Head Finance
Result oriented Finance & Accounting/Costing Professional CWA/CMA with strong multi-faceted leadership adept in
designing and monitoring the financial health of the business, proven track ability of handling the multi task
activities, seeking Senior/Key Management position in the domain of Finance & Accounting in the Gulf Regions and
Asia Pacific.
IT Skills: ERP Skills - Financial Modules: Oracle 11.5.8i & Oracle ERP R12 (Implementation), (GL, AP, AR, PA, Inventory, Financial
Analyzer and Bi Apps, Purchasing) (8 years’ experience in handling oracle financial modules). Trained as a key super user with certifications). Full Cycle two implementations.
HSP (Hyperion Sol. Planning) A Global reporting tool (End user Certification in Web based Training)
ACCPAC financial Modules: (GL, MFG.AP, Inventory, AR etc.) Two years’ experience. AX 2009 (Microsoft Dynamics) Two years’ experience and implementation. GL AR, AP
PM,PA Self Services, HR, Inventory and for construction industry. SAP (AP, AR, GL) hands on SAP one year. MS Office, (Excel, Word, PowerPoint) Photoshop, Visio.PROFESSIONAL EXPERIENCE
Al Arrab Contracting Co. Riyadh KSA July 2013 – Oct 2016Web: http://www.arrab.com.sa Is part of largest groups in Saudi Arabia(Al Rajhi Alliance) providing Real Estate, Construction Contracting & Infrastructure development involved in civil, power,water,airport etc. and active in all Gulf Countries (GCC region) with great projects worth 5 Billion US$. The company is one of the largest contracting & Construction company in the kingdom of Saudi Arabia provides construction & Infrastructure development services through direct service to a range of mostly public sector clients in the KSA.Current Position: CFO (Chief Financial Officer ) (Nov-13 till Oct 2016 ) Head-Financial Accounting/ Finance Director (Jul 2013- Oct-2013) ; Leading and supervising and managing all the finance functions of the company with a team of 89 Accounting staff across the various projects’ sites and Head Office in the KSA, with proven ability of managing the financial planning, budgeting, Reporting, MIS, and implementing the Cost reduction techniques across the areas and managing the Working capital effectively. Followings are the accomplishments and duties:
Restructured the whole finance team, established benchmarking process and objective mapping process to achieve the Organizational goals.
Actively monitored and approved the processes and SOPs for the whole Oracle ERP implementations and the business processes of Oracle ERP in 2013 and accepted the challenges of big bang implementations.
Remarkable Headcount reductions by 56% with optimal utilization of available resources, restructuring and proper training.
Enhanced Budgeting system through Oracle budgets, Ensured effective budgetary control system in financial and operational planning.
Developed the financial strategies, and established controls to smoothen the cash flow operations.
Established the treasury strategies within the investment framework to reduce the bank exposures by 25% in 2014 and 15% in 2015 and reduced the finance costs accordingly. Increased, restructured the credit lines -LG, LC & LCRs limits with effective liaison with banks and financial institutions.
Established Authority Matrix and abandon the internal check and control system for smooth work flow through Oracle and internal check. Enhanced the paperless environment in the company.
Redesigned and restructured and Reporting systems through Oracle Bi Apps. Automated the management reports with reliability and transparency. Enabled timely reporting to group and stake holders and board of Directors. Streamline the dash boards for operations and senior management.
Adept in Financial Consolidations of the various business units and Joint venture operations.
Established the Project financial reviews and CTC/EACs reviews of all projects on monthly basis to stable margin and track the changes to control the risk of revenue leakages and losses.
Build a strong Financial controllers teams on all big projects of above SAR 1 Billion for effective cash flow operations and to control the Accounting process with an objective
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to strengthen the financial operations and control the risk and to support the operations smoothly and effectively.
Developed the various SOPs to strength the Accounting and financial operation and to implement the Oracle financials and improve the system process.
Ensured the external Audit done within the stipulated time and obtain Zakat/TAX certificates to facilitate the business operation without interruptions. Done 3 years yearly Audit successfully without any qualifications and adverse comments.
Prepared, monitored and oversee the corporate financial planning, Operation budgets, HO cost budgets and various expenses budgets, quarterly cash flow forecasts to support these budgets. Established various norms to monitor, control and improve the positive variances.
Reduced the Petty cash from SAR 25 M to 2.5 M per months of various remote areas/sites and reduced the risk and enhanced the working capital smoothly.
Reduced the inventory from SAR 154 M to 48 M and drafted the policies and procedures for warehouse management system. Strengthen the functions by ERP support.
Attending the monthly project reviews, proposal reviews, ensures robust monitoring of capital expenditures.
Established the weekly meetings to monitors day today activities and to follow up strategic objectives. Established committee to review and reduce the unbilled revenues, and stop the revenue leakages.
Conversant with project management requirements and monitoring of claims and additional orders.
Developed the effective reporting and costing system to enhance business unit reporting, JVs reporting and manufacturing unit reporting.
Responsible for reviewing the all major contracts and agreements covering the commercial part and payments terms and recommendations thereof to Project leaders
Ensured compliances of GAAP, IFRS and SOCPA policies and developed the accounting and reporting policies.
Enhanced the Fixed Assets inventory systems, through development & implementations of policies and procedures and streamline the Assets inventory with reliable data.
Prepared Finance and Accounting policies to control the process and streamline the activities of change management due to syst
HOCHTIEF Facility Management Bahrain Airport Bahrain. March -2013 to Jul-2013A unit of Hochtief GMBH Germany, engaged in Airport Facility management, construction and maintenance of Airport facilities. Senior Financial consultant: Consultancy advice in ERP implementations, drafting of various SOPs for implementation of ERP, laid down the internal controls and procedures to monitor and control inventories and WIP. Provided support on financial reporting functions and risk control functions. Defined and identified the areas of risk and revenue leakages and established the norms to control and reduce to improve and stabilize the margin. Enhanced the financial reporting system to improve the reliability and visibility in reporting, forecasting and budgeting to HO.
AFGS LLC, Kabul Afghanistan. Mar 2012 - Dec 2012 Senior Finance ManagerThe company is engaged in Logistic, support, SCM, Transportations, LSA, O&M, construction services, and contract management with network of branches in Kandhar, PV Bagram and Shorbak in Afghanistan. Web: www.afgs.af. It is also accredited as the largest defence contracting company in Kabul Afghanistan Senior Finance Manager
Highlights of Major Responsibilities and Accomplishments: Streamlined the financial activities and reporting structure to ensure effective functional
control. Provided leadership to a team of 25 members and monitored their performance to maximise overall team productivity.
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Designed financial policies and procedures and contributed in strategic decisions marker with CFO.
Recruited, trained and engaged qualified finance personnel to build a strong finance & accounting team. Restructured project accounting system by switching over from Quick books (A tiny ERP) to Open ERP to set up an integrated accounting system.
Drawn up Finance operational budget and internal controls to monitor the projects financials.
Implemented project cost account and cost centre based accounting system. Driven cost control measured to contain cost spill over.
Designed the outsourcing payroll policy to improve the quality of services. Drafted the petty cash policy and implemented the risk control method.
Restructured the finance team to smoothen the finance operations and meet the deadline in timely manner.
Increased the productivity of staff through effective leadership. Managed multi project funding facilities liaising with Banks and financial institutions.
Implemented the strict collection policies to reduce the bank exposures and owners investments in the business.
Acted as strategic partner in improving the business for acquisition and expansion of business.
Implemented new ERP system “Open ERP” to cope the urgency of data streamlining. Finalized the two years financial Audits (2010 and 2011) which was pending since two
years. Drafted the work flow process in accounting team to strengthen the department activities. Established the bench marking mapping with the corporate goals. Restored the financial health by taking the operational measures of receivable and
payables. Improved the bottom line by identifying the revenue leakages. Improved the payroll services with quality and reliable data, identified the risk of losses
due to poor quality of risk and control. Increased the overall efficiency of the department, with quality reporting.
CONTROL & APPLICATION EMIRATES City Abu Dhabi UAE Oct 2008 - Feb 2012A renowned company engaged in Engineering, construction, procurement, Installation & commissioning, EPC and maintenance of systems and expert in Electrical and power systems, control and instrumentations, Repairing & installation of Fire Alarm systems for off Shore / on shore Oil & Gas & Petro Chemicals Industries, Industrial plants and Civil Sector & Ministries oilfields. Web: www.caeme.com Manager FP&RA/ Project Accounting
Major Duties and accomplishments: Successfully managed 37 big & small projects’ financials with generating positive cash
flow with improved Gross Margin. Budget preparations, Designed internal controls and quality audit Checks to improve the bottom lines.
Efficiently handled several short-term big Project financials of above AED 50 M to AED1.5B, participated actively to smoothen the fund managements and improve the margins.
Defined corrective actions and established the correct procedures to stop revenue leakages and control the cost. Reduced the collection days period from 90 Days to 60 Days by managing the collection team. Managed the LCs LGs and various facilities of various projects.
Established the monthly EAC/CTCs systems and established the project wise cash flows monitoring to manage the business effectively.
Efficiently managed the Management reporting, planning, budgeting and quarterly forecasting with full transparency and visibility to stake holders. Manage and consolidated the various business units financials. Actively involved with CFO in handling all the cash flows and exercised various controls to strengthen the finance positions of the company.
Checked the inventory control systems to reduce the working capital held in stocks. Involved in debt management and creditors managements to smoothen the fund management of all projects.
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Introduced monthly project reviews instead of quarterly project reviews for effective project and budgetary controls. Developed an environment of project controllership with ownership/responsibilities. Established clear transparency of sharing cost data with non-financials business leaders.
Completed two annual financial audits without deviation in revenue recognition and adverse comments.
Successfully arranged project financing for big and small projects setting up effective liaison with banks and financial institutions. Ensured timely collections to save the cost of finance.
Contributed significantly in implementation of AX 2009 Dynamics ERP and designed the COA for mapping process. Played a key role in project accounting implementations.
Streamlined the accounting process and procedures to comply with Audit norms and GAAP policies.
HONEYWELL TURKI ARABIA LTD. City Dammam, Saudi Arabia Mar 2000 – Aug 2008Web: www.honeywell.com A Unit OF ACS Honeywell Inc. A 100 fortune MNC a contracting and trading Co. engaged in Engineering, Commissioning/Installations, Buildings constructions and maintenance, software management and providing Control process Solutions & Building Solutions, Automation Controls and Honeywell Industrial process solutions for O&G and petro chemical and other Industries, in Saudi Arabia. Senior Management Accountant (Cost & Finance) Mar 2000 to Aug 2004Senior Planning and Reporting Financial Analyst : Aug-2004 Aug 2008:Major Duties Accomplishments: Prepared varied monthly financial reports including - quarterly forecasts, annual operating
plans, budgets, cost metrics reports, head count reports, monthly financial reports, BS reviews report, aging analysis reports, for internal management reporting and uploaded them in HFM (Hyperion planning Solutions) for global reporting.
Monitored contracts value, contract costs, Gross margin, Direct cost & overhead, allocation on projects, project profitability, revenue recognition based on POC, Backlog, Billing, Unbilled, Receivables and collections of nearly 350 projects Financials, Project accounting and Business units reporting of HBS and HPS of all divisions.
Periodically reviewed projects costs to identify and eliminate redundancies to control project costs within budgetary norms.
Prepared monthly comparison reports, conducted variance analysis and prepared analytical reports. Successfully run various reports in Oracle modules and handled month end closing activities in GL. Effectively monitored Oracle AR, AP, OM, PA, Purchasing and Inventory entries and interface Journals. Handled HFM reporting HPS input and managed various global reporting requirements of HWL finance team.
Introduced BU’s reporting for Balance sheet items and cost entries and enhanced budgeting process.
Initiated application of Oracle Budgets and customized various FSG reports in Oracle GL Included gross margin analysis and EAC/CTCs reviews in Project Cost analysis data and
cost monitoring techniques. Realigned the new Chart of Accounts to suit Oracle Financials 11i and mapped to HFM
(for global reporting). Developed the process of cost collection & distributions through Business Units according
to line of business and enhanced Cost centres accounting and head count reporting. Core team member in Oracle ERP 11i implementations to provide functional and mapping
support. Trained end users of Project Accounting modules. Successfully managed Annual Audits & ISO Audits. Streamlined the process and procedures of accounting systems.
Consistently met month-end closing schedule as per global reporting deadlines. Acquired comprehensive expertise on all Oracle financial modules (AR, GL AP, CM & OFA)
and ERP Project Accounting & planning. Prime contributor in implementation of Oracle ERP & AX 2009 (Microsoft dynamics) ERP
systems. Trained all end users/Super users of Oracle financials and provided functional support in streamlining the all MIS reporting.
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Astra Polymers Compounding Co. Ltd. City Dammam (Saudi Arabia) Apr 1998 –Feb-2000
A Unit of Astra Group of companies, engaged in manufacturing of Master Batches Granules and Polymers of different colours and shades located in Industrial area Dammam KKS.
Senior Accountant Efficiently handled accounting functions, AP, AR, GL entries, Reconciliation of Banks accounts & Sub ledgers with GL, inventory tracking. Batch costing, fixed Assets Mgt. Payroll checking, Month end closing of all ACCPAC financials Modules. Monthly cash flow, and analytical reporting to Head office etc. Established costing techniques and implemented the batch costing techniques. Managed cash flows, financial reporting, budgeting, and all forecasting of batches for bidding and quotations. Creditors management, intercompany receivable management, External Audit Coordinator. WIP cost classification and evaluations. Costing for quotations. AR management and collection updates. Vendor’s management and priority lists update
for management approval. Assists in preparation of Financials reporting to Finance Director. Providing various
analysis sheets to stakeholders upon request. TAMIMI Food Division City Dammam (K.S.A) Jun1994 – Mar 1998
Senior Financial Accountant A division of TAMIMI Group of Companies (Chain of Safeway Super Markets) engaged in Trading & food Processing activities all over the Kingdom. FMCG unitsDuties: POS bank reconciliations of all Tamimi Markets, GL analysis, GL entries relating to Reconciliation, preparation of financial report with gross profit analysis, directly reporting to CFO. and Finance Manager. Vendor management, preparation and releasing of cheques, and controlling of payables. Bank reconciling entries and adjustments. Inventory management entries, participation in stock taking on quarterly basis.
Chief Accountant Saudi Spinning & Weaving Industry Ltd. City Jeddah (K.S.A). June 1992 – Apr 1994 The company is fully engaged in manufacturing and trading of looms and clothes. Duties: Fully responsible for all finance and accounting functions, managing team of 8 Accountants, reporting to CEO and chairman. Costing, Auditing, Banks liaison, Facility management, Insurance management, supervision, Monthly management reports, Payroll etc.
EDUCATION ICWA/CMA, Institute of Cost & Works Accountants of India – 1991
B.Com -1984Seminars and Courses attended:
IFRS Seminar at Riyadh KSA conducted by Emile Woolf International in Nov-2014 & Nov 2015
Zakat /Tax update Seminar by KPMG& PWC in Feb-2015 and Nov.
Other skills Activities: Seminars & Conferences: Attended annual/Quarterly Finance Functional Reviews Conferences conducted by Honeywell Group in Middle East. IFRS Seminars by PWC and E&Y, Zakat/Income TAX Seminars conducted by E&Y and KPMG.
Nationality: Indian; Valid Driving licence: Saudi Arabia & India.Marital status: Married Iqama Status: Transferable
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