Summary
Overview
Work History
Education
Skills
Certification
Timeline
Generic

Ashraf Raafat

Finance Manager

Summary

Experienced Finance Manager with a strong track record of improving work process efficiency and driving profitability through meticulous technical analysis and the ability to influence revenue-positive outcomes. Manages financial forecasting, cash flow management, and implements cost reduction strategies. Demonstrates expertise in establishing robust internal controls and developing comprehensive audit plans to ensure regulatory compliance and mitigate financial risks.

Overview

33
33
years of professional experience
5
5
Certifications
2
2
Languages

Work History

Finance Manager

Black Stone Group.
Dubai.
09.2023 - Current
  • Supervising the finance department to maintain accurate and effective financial records and reports.
  • Managing compliance with Tax regulations ,assist at tax planning strategies , and assure timely VAT and Corporate tax filing .
  • Enhancing budget management by implementing expenses tracking and cost reduction strategies.
  • Optimizing cash flow with diligent monitoring and balancing of accounts receivable and payable.
  • Monitoring the Annual budget and revenue trends, compiling reports for company leadership to advice the decision-making.
  • Developing and implementing training programs to enhance the performance of the finance department team.

Finance Manager

Gulf General Trading Group
Dubai
07.2017 - 08.2023
  • Establish and maintain the financial policies and Develop strong internal controls and policies framework.
  • Oversees the day to day financial management including Guiding, Monitoring and Controlling the accounting activities.
  • Track the company's financial status and performance to identify areas for potential improvement.
  • Analyze costs, pricing, variable contributions, sales results, and the company's actual performance compared to the business plans.
  • Monitor and Control the organization's cash flow.
  • Ensure that the company's compliance system is matching with the financial regulations and standards according to the IFRS.
  • Produce real-time Tax Compliance, highlighting the company,s tax obligations, status, Return, etc.
  • Monthly review the tax accruals and ensure that it was recorded properly.
  • Manage , guide , and train the Finance department team to ensure appropriate financial processes are being used.
  • Implement internal controls through regular audits and adherence to regulatory requirements.

Finance Manager

Aber Group
Dubai
08.2013 - 05.2017
  • Assist in the development and implementation of goals, policies, priorities, and procedures related to financial management, budget, accounting, and payroll.
  • Direct the maintenance of general and subsidiary ledgers, accounts receivable, revenue distribution, Cash flow, depreciation, cost, property operating expenses, and insurance records.
  • Direct and participate in cost analyses and rate studies
  • Prepare statements and reports of estimated future costs and revenues.
  • Establish system controls for new financial systems and develop procedures to improve the existing internal controls.
  • Work closely with the GM, by reporting and monitoring the company's financial plan.
  • Direct the financial control function involving all aspects of accounting and related controls, administrative systems, procedures, financial and operational audits.
  • Report monthly financials including Profit and Loss, Balance Sheet and Cash Flow.
  • Prepare and monitor detailed budgets, capital plans, cost reduction programs, cash flow projections and other business performance indicators to support the objectives of the Senior Management Team.
  • Review and adapt the business processes, performance measurements, financial controls and business systems necessary to support the growth of the business.
  • Dubai

Finance Manager

Arab Contractors
Cairo.
01.2010 - 07.2013
  • Managing the company cash flow to ensure smooth running operations.
  • Interacting with banks to arrange financial facilities according to the cash flow chart
  • Preparation of budgets, forecasting and following it up with the actual projects cost and revenue to calculate the variances and propose solutions for a healthy cash flow position
  • Evaluate potential investments and managing the existing investments.
  • Setting up the financial system, policies and procedures for the financial department
  • Formulating financial strategies and long-term business plans
  • Conducting reviews and evaluations for cost reduction opportunities
  • Directing, coordinating, and supervising the organization,s financial activities to achieve the Company,s goals and objectives
  • Ensuring that the financial policies are followed to meet the company strategy
  • Preparing the financial statements and the financial analysis ratios to maximize the company's financial benefits according to the international accounting standards
  • Reporting to the GM according to the IFRS standards and regulations
  • Managing the relationship with the external auditors
  • Team player with communicating and coordinating with all departments in the organization
  • Egypt

Finance Manager

AL Zahra Properties
Dubai
03.2007 - 12.2009
  • Reporting to the board of directors about the cash flow position for the projects according to the cash flow models
  • Analyzing the accounting statements and budget variances, Performing cost assessments of the business and recommending improvements
  • Prepare financial feasibility for new business plans, as and when required, Carry out the reviewing of the projects contracts, cash flow charts and Financial Risk management
  • Carry out and review the escrow accounts analysis
  • Creating and improving the accounting and financial structure and policies carried out as a part of the management team the responsibility of preparing the financial forms and reports according to the IFRS
  • Dubai

Head of Internal Auditing Department

Arab Contractors
Cairo.
03.2003 - 03.2007
  • Assist the top management with the development and implementation of procedures that ensure that a high level of internal control exists within the departments and to Use the standard audit techniques to obtain, analyze and appraise data, transactions and records as a basis for Providing an objective opinion on the performance of the business activity and the effectiveness of key risk management activities
  • Accessing and reviewing all financial and non-financial data of the Company and managing the audits of departments to assure that the existing internal controls are adequate for the purposes for which they were designed
  • Preparing the annual and quarterly audit plans
  • Egypt

Asst. Head of Internal Auditing & TAX Department

Arab Contractors
Cairo.
03.1997 - 03.2003
  • Designing and developing a TAX organizational model for the operating business units.
  • Contributing to the development & implementation of TAX principles for the company.
  • Providing the inputs to develop and implement tax strategies ensuring compliance with local tax laws and accounting international standards.
  • Reviewing the business operation units to identify the TAX allocations to ensure that the appropriate TAX treatment is applied.
  • Responsible for legally minimizing tax liabilities through the informed application of tax laws and regulations.
  • Assisting in Preparing internal auditing plans and reports.
  • Preparing and checking actual auditing reports for all construction sites Suez Canal sector.
  • Checking and adjusting the warehouses, cash and bank balances.
  • Egypt

Senior Accountant -Sub Contractors & Suppliers

Arab Contractors
Cairo.
03.1995 - 02.1997
  • Checking and reporting the subcontractor's payables balances according to the cash flow position and complying with the firm's policy.
  • Balancing the current cash flow position and updating the cash flow diagram accordingly.
  • Preparation of budgets, cash flow forecast and other analytical reports according to the requirements of the top Management and the company's objectives.
  • Co-coordinating and matching between the warehouse, suppliers, construction sites and the subcontractor's certifications.
  • Responsible for controlling and the supervising the company's receivables including credit control and the collections reports preparations.
  • Egypt

Project Accountant

Arab Contractors
Cairo.
03.1992 - 02.1995
  • Calculating and checking the actual cash requirements (salaries, rentals, leasing…) and assuring that it's matching with firm's annual budget.
  • Preparing accounts payables and receivables aging reports to assure a healthy cash flow position.
  • Managing the day-to-day cash and bank transactions and bank reconciliations.
  • Preparing and checking petty cash statements to increase cash liquidity.
  • Assisting the finance department with various tasks, including the preparation of the inventory and petty cash reports.
  • Egypt

Education

Bachelor of Commerce.

Skills

  • Strategic and Financial planning

  • Strong analytical skills

  • Problem solving

  • Cash flow management

  • Reporting

  • Auditing

  • Performance analysis

  • VAT Reconciliation and returns

  • Risk Mitigation

  • IFRS

  • Business performance improvement

  • Accurate forecasting Skills

  • Strategic and Financial planning

Certification

CMA Certification - 3RD Part.

Timeline

Finance Manager

Black Stone Group.
09.2023 - Current

Finance Manager

Gulf General Trading Group
07.2017 - 08.2023

Finance Manager

Aber Group
08.2013 - 05.2017

Finance Manager

Arab Contractors
01.2010 - 07.2013

Finance Manager

AL Zahra Properties
03.2007 - 12.2009

Head of Internal Auditing Department

Arab Contractors
03.2003 - 03.2007

Asst. Head of Internal Auditing & TAX Department

Arab Contractors
03.1997 - 03.2003

Senior Accountant -Sub Contractors & Suppliers

Arab Contractors
03.1995 - 02.1997

Project Accountant

Arab Contractors
03.1992 - 02.1995

Bachelor of Commerce.

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Ashraf RaafatFinance Manager