Tareq S. Naseriddin

Profile Summery

• Accomplished professional with 26 years of experience in Financial Planning & Reporting, Forecasting, Accounts Payable, Accounts Receivable, General Ledger & Compliance Audit, Finalization of Accounts, Cash Flow, Budgeting, Taxation, and People Management across various industries.
• Reviewing the standalone and consolidated annual financial statements prepared as per IFRS, IAS, Local Accounting and Legal Requirements and managing the audit process for successful closure of audits.
• An ambassador of change with impressive success in identifying process flows & enhancing systems through various improvement projects & differentiated and noticeable operational improvisations through transformational, automation and migration projects.
• Custodian of financial analysis, internal & regulatory reporting, accounting operations, budgeting & forecasting that led to long-term cost savings and improved profitability & productivity; streamlined financial processes through various initiatives geared towards lowering risk, heightening productivity & improving internal financial controls.
• Innate excellence in preparation of budgets and annual plans in line with business strategies and group / company targets; directed the implementation of best practices in the accounting and treasury processes; educated and directed department managers in meeting budget and other financial goals.
• Unique blend of leadership with expertise to lead strategic planning financial analysis; internal/ regulatory reporting to ensure compliances with various internal policies & regulators, forecasting that led to short term and long-term improvements.
• Provided strategic financial direction & leadership; significant saved in man hours & overall cost; performed due diligence of companies / processes, steered processes transitions, reengineered existing process, reduced tasks & made process lean.

Core Competencies

• Accounting Operations
• Treasury Operations and Reconciliations
• MIS Reporting / Strategic Planning
• Financial statements Preparation and Analysis
• Cash Flow / Fixed Assets / General Ledger
• P&L Management
• Budgeting and Forecasting
• Automation and Transformation
• Financial Planning and Analysis
• Tax Management and Compliances
• Statutory / Internal Audit
• Working Capital Management

Professional Experience

Board of Directors Member

August 2019 - Present National Bank of Sudan, Al Kaleej Bank

Director of Finance And Administration

July 2015 - Present Mawarid Holding Investment, Abu Dhabi, United Arab Emirates

Overview:

• Managed and supervised the day-to-day operations of the finance team.
• Reviewed the P&L and balance sheet on a monthly basis as well as underlying account reconciliations to ensure integrity of the data and identify potential cost savings.
• Created well-designed budget and financial models to measure and evaluate the financial success of the organization.
• Led the design of optimum capital structure and financial strategy for the company keeping in mind capital expansion for existing business, investment in new projects and short-term cash optimization.
• Conducted multiple business planning and financial modelling exercises, as required.

Finance and Administration Manager

November 2014 - April 2016 Khalidiya Intersystems Factory LLC, Abu Dhabi, United Arab Emirates

• Restoring financial health of the company through the following initiatives:
  • Took control of all receivables, payable and assets (tangible and intangible).
  • Established a working relationship with bankers, suppliers and workers; negotiated settlements and restructured financial liabilities with bankers, suppliers, statutory agencies.
  • Resolved pending legal, statutory, direct and indirect tax cases and ensured a fresh start to operations; arranged finance facilities for the re-commencement of business.
• Establishing and implemented internal control disciplines throughout the division to maintain integrity and accuracy of financial reports, cost & benefit analysis, cost variance analysis

General Manager

October 2013 - October 2014 Enjazat Services, Abu Dhabi, United Arab Emirates

Chief Financial Officer

May 2013 - October 2014 Bin Murshed Holding, Abu Dhabi, United Arab Emirates

Chief Financial Officer

September 2012 – April 2013 Prophsier LLC, Dubai, United Arab Emirates

Key Responsibilities:

• Manage and oversee financial disciplines, including working capital, capital; expenditures, debt levels, strategic planning, financial budgeting and forecasting, maximizing/optimizing cash flows and management reports to align to the company’s operations.
• Spearhead development and implementation of group accounts consolidation, financial policies, systems and procedures to ensure smooth cash flow and streamline budgets.
• Communicate effectively with auditors, company executives and functional managers to implement accounting procedures across departments in line with to ensure compliance to applicable GAAP, IFRS, IAS, local accounting and legal requirements.
• Drive and monitor various processes such as accounting, budgeting, internal and external reporting and adherence to financial policies and procedures
• Compute operational and maintenance cost estimates. Devising section budgets and effecting cost cutting measures in coordination with line managers to maintain adherence to the same and deliver quality service.
• Develop and implement the appropriate financial systems that allow budgeting, forecasting, analysis, decision-making and financial reporting in an accurate and efficient manner; Support Subsidiary.
• Prepare and review Profit and Loss and associated financial statements, summaries, other cost-benefit analysis and drafting financial management reports as per organizational policies and procedures.
• Provide regular reporting monthly and on ad hoc basis for the executive director and board of directors, including cash flow, financial benchmarks and long-term financial forecasts.

Finance & Administration Manager

July 2004 – June 2012 Abu Dhabi National Carpet Factory, Abu Dhabi, United Arab Emirates

Highlights:

• Played a pivotal role in implementing Oracle ERP Suite system.
• Instrumental in formulating policies, procedures and internal controls (Management by Exception).
• Designed manufacturing, finance, Supply Chain and sales related work flows resulting in reduction of working capital and better cash flow position.
• Instrumental in implementing daily cash flow reporting, resulting in significant reductions in finance cost and liquidity.
• Successfully improved financial reporting and analysis systems, introduced and expanded critical management reports and timeliness of rendition.
• Played an active role in improving company's credit rating by instituting sound cash management policies.
• Played a key role in restructuring and redefining job descriptions, responsibilities and competencies.
• Responsible for setting up the Human Resource and Administration Department and defined policies, procedures and internal controls.

Key Responsibilities as Finance Manager:

• Managing and overseeing all financial disciplines, including strategic planning, financial budgeting and forecasting, maximising/optimizing cash flows and management reports to align to the company’s operations.
• Directing a team of highly qualified finance professionals in planning and evaluating the finance department operations and implementing control measures to ensure the economic viability and operating efficiency of the company.
• Spearheading development and implementation of group accounts consolidation, financial policies, systems and procedures to ensure smooth cash flow and streamline budgets.
• Communicating effectively with auditors, company executives and functional managers to implement accounting procedures across departments in line with IFRS, IAS and local accounting and legal requirements.
• Computing operational and maintenance cost estimates. Devising section budgets and effecting cost cutting measures in coordination with line managers to maintain adherence to the same and deliver quality service.
• Preparing and reviewing Profit and Loss and associated financial statements, summaries, other cost-benefit analysis and drafting financial management reports as per organizational policies and procedures.
• Providing regular reporting monthly and on ad hoc basis for the executive director and board of directors, including cash flow, financial benchmarks and long-term financial forecasts.

Key Responsibilities as Administration Manager:

• Leading all HR, administrative and compliance issues, public relation unit, security and safety, secretariat and administration in accordance to organizational standards.
• Overseeing all elements critical to the success of the HR; namely front-end and needs analysis, job postings, sourcing, interviewing, and employee offers.
• Auditing of supplier invoices against company raised purchase orders as per company reporting rules and international accounting standards.
• Managing all facets of administration, extensively liaised within and outside the company for resolving issues related to human resources, facilities and operations.
• Performing a wide array of administrative activities including inventory of office supplies and managing daily departmental activities.

Oct 2004 - Dec 2004: Concurrently working as Chief Accountant and Acting Finance and Admin Manager

• Spearheading development and implementation of financial policies, systems, procedures and guidelines to ensure smooth cash flow, streamlining budgets, establishing stringent procurement and expense guidelines.
• Evaluating financial reporting systems, accounting procedures to recommend/effect requisite modifications in operating systems, budgets and other financial control functions in liaison with senior management.
• Administering the assigned accounts in accordance with organizational policies and objectives.
• Assisting with development and implementation of reporting procedures, overseeing maintenance of accounting and financial records while assuring strict adherence to organizational policies and procedures.

Jul 2004 - Oct 2004: Concurrently working as Chief Accountant

• Preparing and reviewing all monthly/annual financial statements including P/L, Balance Sheet and associated financial statements, monthly closing of accounts, AP/AR, summaries, cash flow projections, branch reconciliation statements, aging analysis report, other cost-benefit analysis and financial management reports.
• Facilitating internal audit of company.s accounts and providing required reports/information to the auditors to assure timely completion in compliance with established audit processes.
• Keeping complete, accurate and systematic set of records for all accounting transactions personnel accounts pertained to all branches of the company.

Internal Auditor

Feb 2000 - May 2004 Qatar Armed Forces – Payroll Directorate, Doha, Qatar

Key Responsibilities:

• • Performed general accounting functions, including operation of the general ledger system, journal entries and month end closing of funding account.
• Preparation monthly financial statements, trial balance, bank reconciliations enabling smooth finalization of accounts.
• Analyzed general ledger accounts to determine their accuracy and ensured all funds are in balance. “the funding account”
• Preparation of the yearly budget for the Directorate and monitoring the monthly actual versus budget.
• Examined/analyzed journal/ledger entries, expenditures, other accounting/financial records, documents and systems to ensure accuracy and compliance with established accounting standards and procedures.
• Handled other procedures related to funding the training and the assignments out of the country, and make all the required communications with Qatar Embassies to insure smooth payroll transfers.

Accountant

Feb 1997 - Jan 2000 International Tobacco & Cigarettes Co (ITCC), Amman, Jordan

Key Responsibilities:

• Managed all financial and accounting operations including but not limited to accounts payable, receivables, reconciliation, advances/ replenishment, revenues and deferrals.
• Analyzed general ledger transactions to determine their accuracy to ensure that all finances are in balance.
• Monitored and managed banking relationships, bank reconciliation statements, cash flow, short and long term debts, internal controls authorizing client credit limits, fixed asset purchases and petty cash expenses.
• Implemented and maintained systems, procedures and policies, including accounts payable functions in adherence to company guidelines.
• Supervised work of staff accountants processing auditing payroll/ accounts payable, cash receipts, inventory/fixed asset records of the company.
• Monitored day to day operations relating to follow up on outstanding payments and work instructions.
• Reviewed financial aspects of new business opportunities, prepared business case studies, assessed risks and financing strategies for key opportunities.
• Handled all financial statements including monthly/ financial statements, monthly closing of accounts, monthly accounts payable, accounts receivable and monthly cash flow statements.
• Proffered weekly reporting of invoicing totals/aging totals and cash receipts to the senior management for providing recommendations for the same.

Education

Amman Private University, Amman, Jordan

Bachelor's Degree, Accounting (June 1996)

Other Training & Certifications:

• Certified in Data Analysis & Reporting Using Power BI (CRPBI)
• Certified Financial Modular (CFM)
• Certified Public Accountants (CPA).
• August 2009: Fundamentals of Corporate Governance.
• February 2008: Developing a Leading Edge Business Strategy.
• January 2008: Business Leaders.
• April 2007: Project Management Professional (PMP).
• June 2007: ISO 9001 Quality Management Sys, Internal Auditor.
• November 2007: Strategic Negotiations, The Art of Influence.
• June 2005: Documentary Credits / Letter of Credits, (UCP500 and UCP600).
• January 2005: Performance Management Training Course.
• January 2004: Al- Zakah Accounting.
• May 1999: General Sales Tax, Jordan.
• June 1998: Effective Budgetary Planning inclusive.

Languages

• Arabic (Native)
• English (Full professional proficiency)