Balsam Tashkandi
Chief Financial Officer at FII Institute- Claim this Profile
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English Full professional proficiency
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Arabic Native or bilingual proficiency
Topline Score
Bio
Ulrich W. Martin
In the course of my cooperation with Balsam, she proved to be instrumental to overcome a highly challenging situation (serious cash flow problems and heavy ERP related limitations) by co-developing and implementing a creative and succesful solution. Balsam is a clever, innovative and solution oriented individual with a constantly positive attitude. She is highly knowledgeable, reliable and durable.
Sohail K.
Balsam joined EEC while the Finance department was in a transition phase. She immediately had an impact on the situation because of her experience and very good management skills. A self starter who like to face challenges and a good team player. Surely a valuable resource for EEC. I wish her the best of luck in her career and life,
Ulrich W. Martin
In the course of my cooperation with Balsam, she proved to be instrumental to overcome a highly challenging situation (serious cash flow problems and heavy ERP related limitations) by co-developing and implementing a creative and succesful solution. Balsam is a clever, innovative and solution oriented individual with a constantly positive attitude. She is highly knowledgeable, reliable and durable.
Sohail K.
Balsam joined EEC while the Finance department was in a transition phase. She immediately had an impact on the situation because of her experience and very good management skills. A self starter who like to face challenges and a good team player. Surely a valuable resource for EEC. I wish her the best of luck in her career and life,
Ulrich W. Martin
In the course of my cooperation with Balsam, she proved to be instrumental to overcome a highly challenging situation (serious cash flow problems and heavy ERP related limitations) by co-developing and implementing a creative and succesful solution. Balsam is a clever, innovative and solution oriented individual with a constantly positive attitude. She is highly knowledgeable, reliable and durable.
Sohail K.
Balsam joined EEC while the Finance department was in a transition phase. She immediately had an impact on the situation because of her experience and very good management skills. A self starter who like to face challenges and a good team player. Surely a valuable resource for EEC. I wish her the best of luck in her career and life,
Ulrich W. Martin
In the course of my cooperation with Balsam, she proved to be instrumental to overcome a highly challenging situation (serious cash flow problems and heavy ERP related limitations) by co-developing and implementing a creative and succesful solution. Balsam is a clever, innovative and solution oriented individual with a constantly positive attitude. She is highly knowledgeable, reliable and durable.
Sohail K.
Balsam joined EEC while the Finance department was in a transition phase. She immediately had an impact on the situation because of her experience and very good management skills. A self starter who like to face challenges and a good team player. Surely a valuable resource for EEC. I wish her the best of luck in her career and life,
Experience
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FII Institute
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Saudi Arabia
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Think Tanks
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1 - 100 Employee
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Chief Financial Officer
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Jul 2021 - Present
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L'Oréal
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France
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Personal Care Product Manufacturing
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700 & Above Employee
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CFO KSA
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Mar 2019 - Jul 2021
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Allergan
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Pharmaceutical Manufacturing
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700 & Above Employee
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KSA Finance Head
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May 2017 - Feb 2019
The first finance head in KSA as the unit/office has been newly established: - Worked on finalizing the JV with the Saudi partner - Recruited & developed a high performing, competent & engaged Finance team - Implemented key business policies & processes that would protect and enable KSA to operate successfully in delivering its commitments - Implemented & led the production of the monthly, quarterly, LRP and budget forecasts and actual results - Implemented & led the preparation… Show more The first finance head in KSA as the unit/office has been newly established: - Worked on finalizing the JV with the Saudi partner - Recruited & developed a high performing, competent & engaged Finance team - Implemented key business policies & processes that would protect and enable KSA to operate successfully in delivering its commitments - Implemented & led the production of the monthly, quarterly, LRP and budget forecasts and actual results - Implemented & led the preparation of financial analysis and evaluation of business results to manage spend and support and influence business performance and commercial decisions - Supervised accounting activities in compliance with local regulations, US GAAP, and company policies - Coordinated the month-end accounting close process to provide timely and accurate financial reports - Lead the future of our relationship with our distributor partner Show less The first finance head in KSA as the unit/office has been newly established: - Worked on finalizing the JV with the Saudi partner - Recruited & developed a high performing, competent & engaged Finance team - Implemented key business policies & processes that would protect and enable KSA to operate successfully in delivering its commitments - Implemented & led the production of the monthly, quarterly, LRP and budget forecasts and actual results - Implemented & led the preparation… Show more The first finance head in KSA as the unit/office has been newly established: - Worked on finalizing the JV with the Saudi partner - Recruited & developed a high performing, competent & engaged Finance team - Implemented key business policies & processes that would protect and enable KSA to operate successfully in delivering its commitments - Implemented & led the production of the monthly, quarterly, LRP and budget forecasts and actual results - Implemented & led the preparation of financial analysis and evaluation of business results to manage spend and support and influence business performance and commercial decisions - Supervised accounting activities in compliance with local regulations, US GAAP, and company policies - Coordinated the month-end accounting close process to provide timely and accurate financial reports - Lead the future of our relationship with our distributor partner Show less
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Mars
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United States
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Manufacturing
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700 & Above Employee
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Financial Planning Manager
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Apr 2011 - 2016
- Managed the alignment of KSA business unit financial shape (2 billion SAR sales) with stakeholders while understanding key drivers of P&L and sharing insights to improve shape and drive action - Lead the process to deliver the unit’s operating plan (ensuring double digit growth annually) and support decision making by steering the business to deliver the target financial shape - Owned the reporting requirements related to the KSA, closing process locally and with the central/ regional… Show more - Managed the alignment of KSA business unit financial shape (2 billion SAR sales) with stakeholders while understanding key drivers of P&L and sharing insights to improve shape and drive action - Lead the process to deliver the unit’s operating plan (ensuring double digit growth annually) and support decision making by steering the business to deliver the target financial shape - Owned the reporting requirements related to the KSA, closing process locally and with the central/ regional teams - Created and implemented the financial forecasting process for KSA and led the needed forums to enable gap closing and share with management team for alignment - Worked with the KSA demand team, consolidate and prepare actual net sales position as well as the business commitment outlook, on a periodic basis, with insights, commentary and analysis to drive corrective action and / or to leverage opportunities - Led the budget resource allocation process for the KSA Unit - Led the Five year plan process for unit and linked to the annual operating plan - Co-piloted Trade Expenditure spends in KSA and drove optimization opportunities to maximize ROI - Led Competitive Analysis project to better understand competitive strategies Show less - Managed the alignment of KSA business unit financial shape (2 billion SAR sales) with stakeholders while understanding key drivers of P&L and sharing insights to improve shape and drive action - Lead the process to deliver the unit’s operating plan (ensuring double digit growth annually) and support decision making by steering the business to deliver the target financial shape - Owned the reporting requirements related to the KSA, closing process locally and with the central/ regional… Show more - Managed the alignment of KSA business unit financial shape (2 billion SAR sales) with stakeholders while understanding key drivers of P&L and sharing insights to improve shape and drive action - Lead the process to deliver the unit’s operating plan (ensuring double digit growth annually) and support decision making by steering the business to deliver the target financial shape - Owned the reporting requirements related to the KSA, closing process locally and with the central/ regional teams - Created and implemented the financial forecasting process for KSA and led the needed forums to enable gap closing and share with management team for alignment - Worked with the KSA demand team, consolidate and prepare actual net sales position as well as the business commitment outlook, on a periodic basis, with insights, commentary and analysis to drive corrective action and / or to leverage opportunities - Led the budget resource allocation process for the KSA Unit - Led the Five year plan process for unit and linked to the annual operating plan - Co-piloted Trade Expenditure spends in KSA and drove optimization opportunities to maximize ROI - Led Competitive Analysis project to better understand competitive strategies Show less
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Emaar, The Economic City
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Saudi Arabia
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Real Estate
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400 - 500 Employee
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City Services & Industrial Valley Controlling, Reporting & Billing Manager
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Jan 2010 - Feb 2011
- Increased receivables portfolio ratio by 4% through analyzing, prioritizing and managing delinquent accounts - Enhanced collection methods through managing relationships with external credit agencies and liaising with banks - Implemented SIMAH (a credit bureau or consumer reporting agency) to assess the creditworthiness of current or prospective borrowers - Created a winning strategy through special pricing and special repayment terms - Developed AR and Credit policies and… Show more - Increased receivables portfolio ratio by 4% through analyzing, prioritizing and managing delinquent accounts - Enhanced collection methods through managing relationships with external credit agencies and liaising with banks - Implemented SIMAH (a credit bureau or consumer reporting agency) to assess the creditworthiness of current or prospective borrowers - Created a winning strategy through special pricing and special repayment terms - Developed AR and Credit policies and procedures - Managed the AR back office team
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Credit Control & AR Manager
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Jul 2009 - Dec 2009
Treasury Department - Credit Control, Collection and AR Manager: - Developed Risk Reporting: highlight of key issues/deviations; derive action items to close gaps - Managing cash flow sufficiently by developing Cash projection reports - Coordinated budget and forecast process and being the Interface to Corporate Finance - Defined and maintained billing processes in cooperation with business units - Managed and controlled revenue booking
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Procter & Gamble
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United States
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Manufacturing
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700 & Above Employee
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Manager - Financial Analysis
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Jul 2005 - Jul 2009
1. SRA&P – Sales, Research, Administration and Product Supply Manager (Arabian Peninsula) 2. Financial Manager – Financial Analysis: - Provide opportunity to supply financial leadership in the development of initiatives and events, prepare quarterly/yearly forecasts and compare actual vs. forecast, work cross functionally to influence decision makers, and to understand/add value to projects, such as Sourcing - Led a Cash Discount project, granting the company more capital to… Show more 1. SRA&P – Sales, Research, Administration and Product Supply Manager (Arabian Peninsula) 2. Financial Manager – Financial Analysis: - Provide opportunity to supply financial leadership in the development of initiatives and events, prepare quarterly/yearly forecasts and compare actual vs. forecast, work cross functionally to influence decision makers, and to understand/add value to projects, such as Sourcing - Led a Cash Discount project, granting the company more capital to spend on growing the business by making our receivables turn over faster - Worked on several pricing projects, keeping prices pace with our rising costs & to increase or at least maintain our cash flow level - Led a Competitive Analysis project that helps better understand competitive strategies so we are prepared to respond and pre-empt their next moves. This helped us to improve our plans, and enhanced our coming business decisions Show less 1. SRA&P – Sales, Research, Administration and Product Supply Manager (Arabian Peninsula) 2. Financial Manager – Financial Analysis: - Provide opportunity to supply financial leadership in the development of initiatives and events, prepare quarterly/yearly forecasts and compare actual vs. forecast, work cross functionally to influence decision makers, and to understand/add value to projects, such as Sourcing - Led a Cash Discount project, granting the company more capital to… Show more 1. SRA&P – Sales, Research, Administration and Product Supply Manager (Arabian Peninsula) 2. Financial Manager – Financial Analysis: - Provide opportunity to supply financial leadership in the development of initiatives and events, prepare quarterly/yearly forecasts and compare actual vs. forecast, work cross functionally to influence decision makers, and to understand/add value to projects, such as Sourcing - Led a Cash Discount project, granting the company more capital to spend on growing the business by making our receivables turn over faster - Worked on several pricing projects, keeping prices pace with our rising costs & to increase or at least maintain our cash flow level - Led a Competitive Analysis project that helps better understand competitive strategies so we are prepared to respond and pre-empt their next moves. This helped us to improve our plans, and enhanced our coming business decisions Show less
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Education
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Jamiat Al-Malik Abdulaziz
Batchelor, Science in Business Administration