Lo'ay Awad AL-mardi CMA
Chief Financial Officer (CFO) at Rema Factory- Claim this Profile
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Aabic Full professional proficiency
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English Full professional proficiency
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German Elementary proficiency
Topline Score
Bio
Credentials
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Certified Management Accountant
Certified Management Accountant: CMA®Jan, 2015- Oct, 2024
Experience
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Rema Factory
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Saudi Arabia
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Plastics Manufacturing
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1 - 100 Employee
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Chief Financial Officer (CFO)
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Oct 2022 - Present
1-Formulate and implement financial and business performance reporting packages and reporting cycle. 2- Establish a Group-wise accounting policy, procedures, process, including the accounting charts, and system of internal control to ensure protection of assets, accuracy and reliability of financial information and financial reporting. 3- Maintain a forward-looking financial plan including cash flows covering equity and debt to provide projected financial needs. 4- Driving the strategic planning and competitive analysis process to ensure best planning for future projects using financial modeling. 5- Lead the preparation of Master budget and ensure that it is align with company goals, objectives, and KPIs. 6- Review monthly / quarterly financial performance reports & yearend consolidated financial statements and reporting deviations to plan objectives with recommendations for corrective actions. 7-Handle the working capital needs with focus on reducing overdue receivable, limiting growth in inventory, and ensuring suppliers payments are generally in line with payments terms. 8- Leads and work closely with finance department section heads. 9-Support CEO in establishing at the operating company level accounting policies for each factory with relevant staff skills to ensure delivery of quality service, reliable financial accounting and reporting & risk management. 10- Establish chart of accounts, financial reporting templates, ratio analysis, period closing and procedure, reporting cycle to ensure timely and accurate reporting. 11-Supervise and monitor internal and external auditor’s reports and forward the final report to CEO. 12- Contribute to achieve the Group's objective through compliance review, risk assessment reviews and advisory services. 13- Other duties and responsibilities assigned by CEO. Show less
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Al Watania For Industries
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Saudi Arabia
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Packaging and Containers Manufacturing
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200 - 300 Employee
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Acting Chief Financial Officer (CFO)_
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Nov 2019 - Jun 2021
1-Formulate and implement financial and business performance reporting packages and reporting cycle. 2- Establish a Group-wise accounting policy, procedures, process, including the accounting charts, and system of internal control to ensure protection of assets, accuracy and reliability of financial information and financial reporting. 3- Maintain a forward-looking financial plan including cash flows covering equity and debt to provide projected financial needs. 4- Driving the strategic planning and competitive analysis process to ensure best planning for future projects using financial modeling. 5- Lead the preparation of Master budget and ensure that it is align with company goals, objectives, and KPIs. 6- Review monthly / quarterly financial performance reports & yearend consolidated financial statements and reporting deviations to plan objectives with recommendations for corrective actions. 7-Handle the working capital needs with focus on reducing overdue receivable, limiting growth in inventory, and ensuring suppliers payments are generally in line with payments terms.8- Leads and work closely with finance department section heads (Accounting Director / Costing Manager / Compliance Manager / Treasury and corporate financial planning manager).9-Support CEO in establishing at the operating company level accounting policies for each factory with relevant staff skills to ensure delivery of quality service, reliable financial accounting and reporting & risk management. 10- Establish chart of accounts, financial reporting templates, ratio analysis, period closing and procedure, reporting cycle to ensure timely and accurate reporting. 11-Supervise and monitor internal and external auditor’s reports and forward the final report to CEO. 12- Contribute to achieve the Group's objective through compliance review, risk assessment reviews and advisory services. 13- Other duties and responsibilities assigned by CEO. Show less
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Accounting Director
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Jan 2018 - Nov 2019
1- Maintains and improves Accounting system and workflow by insuring that the businesses processes are in line with best practice and accounting standards.2- Direct the company Accounting policies to ensure uniform and consistent application of all Accounting transactions.3- Implements Accounting procedure and controls in line with corporate governance standards as determined by the company.4- Ensure that Accounting plans are developed in accordance with the methodologies and timelines specified by the company. (Successfully implement I.F.R.S & V.A.T). And change the depreciation method from Straight line method to the Units of production Method.5- Consolidate Financial Statements for the whole group. 6-Financial Statement Analysis(Ratios,Horizontal & Vertical analysis). 7- Prepare managerial accounting Reports .8- Prepare the Master budget.9- Analyses and interprets of accounting information to facilitate management decision in line with company objectives.10- Prepares and maintains accurate accounting records in updated manner.11- Better managing working capital by reducing cash conversion cycle.12-Strictly monitors and controls customers / Suppliers credit, receivables, collection to ensure minimum past due risk.13- Manages company assets by ensuring adequate physical count, timely addition, retirements, correct and timely depreciation, as well as amortization.14- Conducts annual inventory audit of the company assets by using the available resources.15-Maintain well relationship with banks, internal auditors & external auditors.16- Lead, direct,and control finance department staff with excellent interpersonal skills to manage and work with team, to ensure that accounting team take their ownership of their responsibility to perform their daily job functions to their best ability. 17-Contribute in achieving company overall objectives. Show less
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Finance Director
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Nov 2016 - Dec 2017
Key Responsibilities:1- Negotiate facilities agreements with banks. 2- Managing Group Treasury transactions (Letters of credit L.Cs / Letters of grantees L.Gs / prepare Banks facilities and treasury monthly reports).3-Monitor banking and cash flow in order to ensure sufficient cash for the business requirements and predict future trends.4- Handling projects financing through Saudi Industrial Development Fund (S.I.D.F).5-Maintain well relationship with banks.6-Contribute in achieving company overall objectives. Show less
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Group Finance Manager
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Oct 2014 - Oct 2016
Key Responsibilities: 1- Consolidate Financial Statements for the whole group. 2-Financial Statement Analysis(Ratios,Horizontal & Vertical analysis). 3-Monitor Cash flow and predict future trends. 4-Contribute in preparing strategic plans. 5-Contribute in achieving company overall objectives. 6- Decision Analysis. 7- Risk Management. 8- Investment Decision. 9-Maintain well relationship with banks & external auditors. 10- Lead.Direct,and control finance department staff with excellent interpersonal skills to manage and work with team. Show less
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Finance Manager
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2012 - Feb 2014
Key Responsibilities: 1-Prepare Financial Statements Package. 2-Financial Statement Analysis(Ratios,Horizontal & Vertical analysis). 3-Monitor Cash flow and predict future trends. 4-Contribute in preparing strategic plans. 5-Prepare Master Budget. 6-Contribute in achieving company overall objectives. 7-Maintain well relationship with banks & external auditors. 8-Communicate easy to top management and subordinates. 9-Set the Finance department organizational chart and job description. 10- Lead.Direct,and control finance department staff with excellent interpersonal skills to manage and work with team. Show less
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Cost Controller & Internal Auditor incharche
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Apr 2009 - Jul 2012
Key Responsibilities: 1-Review the Costing chart in e-Mis ERP system. 2-Gathering data related to factories operations. 3-Update the Labors and overhead standard rates in e-Mis ERP system (Which arenot updated since 1999), Cost calculated under the basis of Normal Costing theory. 4-Prepare the Company Master Budget. 5-Analyze the variances between the flexible standards & actual cost on monthly basis. 6-Analyze the variance between the static budget and actual on monthly basis. 7-Prepare the normal routine reports which help management in making decisions concerning capacities utilization, Pricing, Launching or stopping products, Overtime studies, Productivity (Yield), Profitability ...etc. 8-Prepare extraordinary reports (Feasibility Studies), which help management in making critical decisions like capital expenditure investments, projects expansions, and adding or removing production lines ...etc. 9-Monitor Daily work orders. 10-Beside my work I also handled in charge the responsibilities of Internal Auditor for 9 months.. Show less
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Senior Cost Accountant
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Mar 2003 - Feb 2009
My responsibilities include: 1- Identify activities and assigned cost to all products by implementing Activity base Costing Methodology (ABC) & efficiently allocate the services centers resources by using step down method through ERP system (Hasib Power Finance) build under oracle. 2-Prepare Income Statements for all company products and determine the operating performance. 3-Prepare the master budget of Al-safwa Diary plant (One of Al-jouf Factories). My responsibilities include: 1- Identify activities and assigned cost to all products by implementing Activity base Costing Methodology (ABC) & efficiently allocate the services centers resources by using step down method through ERP system (Hasib Power Finance) build under oracle. 2-Prepare Income Statements for all company products and determine the operating performance. 3-Prepare the master budget of Al-safwa Diary plant (One of Al-jouf Factories).
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General Accountant
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Feb 1999 - Apr 2002
My Key responsibilities: 1-Preparation of full financial statements package. 2-Prepare,review, and post Journal Transactions to General ledger by using Delta Accounting software with monthly closing of accounts. 3- Monthly Banking Reconciliation. 4- Prepare payroll sheet. 5-Prepare AP / AR aging analysis. 6-Managed all activities relating to accounting department, including day to day operations . My Key responsibilities: 1-Preparation of full financial statements package. 2-Prepare,review, and post Journal Transactions to General ledger by using Delta Accounting software with monthly closing of accounts. 3- Monthly Banking Reconciliation. 4- Prepare payroll sheet. 5-Prepare AP / AR aging analysis. 6-Managed all activities relating to accounting department, including day to day operations .
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Education
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2009 - 2014
Inistitute of Management Accountants
Associate's Degree ., Managerial Accounting & Financial Professional -
1992 - 1996
Sudan University of Science and Technology
Bachelor's Degree, Accounting
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