Chief Financial Officer
Location : Kuwait
Post Date : 09 February 2017
Robert Half is working on an exclusive basis with a leading F&B/Retail company in Kuwait who are market leaders in their field. Due to a reorganisation they are looking to recruit a Chief Financial Officer.
The CFO will direct the organization's financial planning and controls, financial reporting and management accounting as well as its relationship with lending institutions, shareholders, and the financial community by performing the duties personally or through subordinate managers. Is proactive in opportunity seeking through finance.
- Oversees and directs treasury, budgeting, audit, tax, accounting, Information Systems, and trade-financing activities for the organization.
- Oversees the Divisional Finance functions in providing and directing procedures and systems necessary to maintain proper records and to afford adequate accounting control and management accounting services. Focus attention to SAP, FMIS and POS System controls.
- Directs the Divisional Finance function in activities such as custody & deployment of funds, inventories and assets of the organization.
- Manages cash flow activities and cash forecasting.
- Appraises the organization's financial position and issues periodic financial and operating reports focusing on financial performance, cost reduction and profit improvement measures.
- Directs and coordinates the establishment of budget programs and periodic review of performance and variance.
- Analyzes, consolidates and directs all cost accounting procedures together with statistical and routine reports.
- Overseas and directs the preparation and issuance of the corporation's Monthly, Quarterly and Annual Reports.
- Directs and analyses studies of general economic, business and financial conditions and their impact on the organization's policies and operations.
- Develops and maintains organization's Financial Policies & Procedures, Controls and Guidelines.
- Ensures the continuity and stability of the finance function in coordination with HR, and by implementing best practices in peoples' appraisal, development and successive planning.
- Establishes the financial business objectives for all his subordinates and agrees with them on successful implementation with action plans.
- Participates in the strategic planning and annual business planning activities and ensure business plans are translated into achievable financial objectives.
- Addresses internal audit reports and provide corrective measures to financial audit issues.
- Manages relationship with external auditors and ensures proper and timely financial reporting
- Manages the cash flow of the company to ensure enough funds are available for all functions of the company.
- Manages the strategies and processes related security, availability and integrity of information systems by also ensuring that back-up and recovery plans and practices and well as robust IS security procedures are operating effectively
- Ensures that IT business applications provided integrated support to business processes and provide with unified platform for all business units' data processing
- Signs cheques and authorizes payments, bank transfers and TTs, LCs, and other financial instruments and authorizes financial transactions as per company's Authority Matrix
- Reviews and updates Financial policies and procedures Manual and recommends procedures and processes for all financial and accounting transactions both inter-company and cross-company
- Oversees plans and procedures for periodic inventories at the Warehouse and Outlets and ensures integrity and accuracy of inventory records.
- Manages the insurance policies and ensures that critical risk areas are covered with reasonable and sufficient insurable values and that asset evaluations are reviewed on yearly basis.
- Evaluate the financial incentives systems for employees in coordination with HR Head & COO to seek the approval of the CEO and Board.
- Develops a yearly plan for hedging currency against company's Purchasing needs through FX deals or cash currency.
- Plans, organizes and supervises the budgeting process to ensure that annual business plan, annual forecasts and annual budgets have been submitted to the CCEO and Board accurately and timely and are within company's strategic targets and goals
- Ensures companies' funding needs are identified and classified for securing appropriate funding and acceptable return on investment ratios for future strategic projects.
- Responsible for the Finance Department's Budgets
- Establishes the yearly objectives and KPI s for his subordinates and agrees with them on their action plans.
- Responsible for producing the following reports
Accounting qualifications such as CA, CPA, CMA, CFA
Over 15 years' experience in Finance or Accounting roles, retail industry is not a must but preferred. Also specific experience in mergers and acquisitions, new markets financial reporting and consolidations, business planning and forecasting is highly desirable. Minimum 5-10 years' experience in similar role as CFO, Group CFO or Finance Director.
Salary and Benefits
$220,000 plus generous Benefits. The package will reflect the seniority of the responsibilities.
Gate Village 1, Level 1