Synopsis of Experience 

Financial Controller (Since August 2018)
Currently enaged with Multi Million Contracting Company NASCO Ltd Saudi Arabia as Financial Controller Since August 01, 2018, Leading a team of 12 Accounting Professional and responsible for over all financial management reporting and training.

Chief Financial Officer (2016-2018)

 Have been engaged as CFO and Financial Advisor to CEO with multi-million Group M/s KAKI Hospitality Group with 10 wholly owned subsidiary companies and operating 20 restaurants under national and International Brands in KSA. Being part of Executive Management leading a team of 30 professionals in accounting & Supply Chain functions. Assisting CEO in setting business strategy for horizontal and vertical expansion, setting of Growth indicators and Business Growth Drivers. 
Effectively established Financial Reporting Structure, Organizational & Departmental Objectives, Restructured entire Accounting System & Process and Supply Chain functions. Introduced risk based financial feasibility studies process and masterly prepared various feasibilities for new restaurants and implemented the projects in controlled environment. Provided Budget Preparation and Management Trainings to stakeholders and financial trainings to Non-Finance Managers.
Actively engaged in Project Planning, Feasibility Studies, Operations Planning, Concept Development, Operations Management and Manpower Planning in coordination with the concerned Management Team.

Success Story

  • Restructured entire financial department and decentralized accounting functions at Business Unit level.
  • Implemented Cost Reduction Strategy and saved 2.5 Million in fixed cost per annum
  •  Reduced 52% cost in Supply Chain and Procurement Functions by applying centralized procurement and JIT Inventory System.
  • Improved cash management by 15% with effective negotiation with the suppliers and ensured Rebate on supplies.
  • Assisted CEO to establish Growth Drivers and Growth Indicators
  • Prepared 5 years Business Plan with 35% CAGR (Compound Average Growth Rate)   
  • Established adequate and effective internal control system and designed operational policies and procedures for the Group
  • Assisted Business Development functions in developing and execution of new Restaurants.
  • Prepared Business Plans and Financial Feasibilities for our new upcoming restaurants in Jeddah and Riyadh Regions named Snack Street (QSR), Burger & Lobster (QSR English Brand), Smak Daily (QSR), Dimsum (Chinese Cuisine), Burger & Wings (QSR), Zaika (Indian Cuisine), Gibiano (Italian Cuisine) & Bai Bakery (Confectionary Chain)
  • Coordinated with Operations Management in Menu Reengineering to eradicate DOG Dishes, Improvement of CHALLENGE Dishes, Enhancement in WORKING HORSE Dishes and Fine Tuning of STAR Dishes.
  • Established the Standard Operating Ratios for Food Cost, Labor Cost, Prime Cost, Breakeven Point Sales, Yield on Occupancy and helped Marketing functions in improvement in Customer Turnover and Operational Capacity.
  • Implemented Recipe cost at POS level.
  • Established a new trading company M/s Saudi Food Supplies under the umbrella of KAKI Group.

Credit on my Profile

Financial Controller (2014-2016)

  • Implemented SAGE X 3 ERP System and aligned at Group Level
  • Established Finance department and build finance team
  • Established Procurement function and refined supply chain mechanism
  • Established Branches of FAMA Technologies in Jeddah, Khobar, UAE and Qatar
  • Prepared 5 years Business Plan with 52% CAGR
  • Prepared business plan and Financial Feasibility Studies to establish FAMA Technologies Branch in California – US.
  • Enhanced Cash Flow from 18% to 35%
  • Decreased Accounts Receivables from 120 days to 35 days
  • Improved cash collection from 23% to 48%
  • Improved credit limit with suppliers in both time and credit line.
  • Refined and prepared product pricing for retail and corporate clients
  • Designed and implemented operational policies and procedures
  • Conducted staff training in Budget preparation and monitoring
  • Established monthly financial and management reporting with detailed business analytics
  • Worked closely with FAMA Group Corporate Development in setting organizational objective, KPIs, Growth Drivers and Growth indicators
FAMA Technologies
An Organ of FAMA Holding Group of Companies 

Senior Internal Auditor (2010-2014)

Winning Player for

  • Prepared and executed the risk based internal audit plan for year 2011-12-13 and 2014
  • Introduced Benish Model to review and analyze the periodic financial reporting to identify and mitigate the information fraud, financial manipulation and engineering in books of accounts.
  • Introduced and implemented Benford’s Analysis to identify and mitigate the financial errors, financial frauds and manipulation of company resources.
  • Identified financial fraud of 3 million SAR in Vehicle Fleet maintenance operations in year 2012.
  • Identified fraud of 1.8 million SAR in inventory management in one business unit of the group engaged in Oil & gas sector in year 2012
  • Identified and investigated the reasons of loss in one business unit of Group in 2013
  • Identified and highlighted manipulation of books of accounts of construction unit of the group in 2013.
  • Identified risk and ghost assets across the group and rectified the books of account in respect of fixed assets (35,000 line items) across the group in 9 business units in year 2013-14.
  • Reviewed the suitability of internal controls,
  • Conducted audit testing of specified area and identify reportable issues and dimension of risk.
  • Determined compliance with local laws, international financial reporting standards, company policies & procedures and best business practices.
  • Drafting and finalizing the comprehensive audit reports of the audited area.
  • I conducted audits of expenditure cycle, accounts payables, accounts receivables, treasury, and operational audit of productions, estimation, and review of bidding process, review of budgeting process and business investigation of projects with high budgetary variances.

Achievements

Financial Controller (2008-2010)

  
  • Redesigned Finance department and converted Cash Accounting to Accrual Accounting System.
  • Aligned Accounting functions with business entities in Pakistan and consolidated the books of accounts
  • Designed and introduced “Projects in Controlled Environment” principle and designed control strategies.
  • Implemented international financial reporting standards
  • Designed internal audit department and implemented in 3 phase plans
  • Introduced inventory management and accounting system
  • Managed investment of 250 Million Pak Rupees in Real Estate Business in Pakistan under the Qureshi Group
  • Established 2 companies under the Group in Pakistan while stationed in Riyadh - Saudi Arabia.
  

Significant Contribution

Manager Audit (2001-2008)


  • Oversee 75 corporate audit clients for External and internal auditing, Corporate Issues, Taxation Management and consulting services
  • Managed Advisory and Consulting services to 10 Commercial Banks
  • Planned and executed external audits and trained the team of auditors
  • Conduct Board Meetings of Listed Companies
  • Designed Income Estimation System for various Commercial Banks i.e. Union Bank, Standard Chartered Bank, Askari Bank, Dubai Islamic Bank, Atlas Bank and Muslim Commercial Bank.
  • Represented CPA Associates International as consultant with National Accountability Bureau to investigate the Financial Crimes and Stock Market Crash in 2006
  • Represented CPA Associates International as consulting auditor with Islamabad and Lahore Stock Exchanges for improvement in internal controls
  • Developed Financial Management System and Accounting Department with International Organizations i.e. USAID, CIDA and AUSAID funded projects named TAMA, John Snow International, INGAD, Save the Children, Micronutrient International, PAGE and UNFPA. 
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