Mohamed Abouelfotouh
Corporate Treasury Director
Dubai
Summary
“Certified Treasury Professional” Summary Certified Treasury Professional “CTP” with a broad experience in "but not limited to" Treasury Operations, Cash Management, Forecasting, Financial Analysis, Risk Management and Reporting. I gained my experience over more than 10 years working in large size corporations provides diversified services in different domains and different locations.
Overview
18
18
years of professional experience
1
1
Certification: Certified Treasury Professional
1
1
Language
Work History
Treasury Director
Tharwat Investment Holding Limited
Dubai
05.2018 - Current
- Tharwat Holding is an investment company based in Dubai international Financial Centre “DIFC”
- Tharwat is backed by prominent Saudi families with strong links to Dar Al Arkan and other leading companies and assets
- The company provides wealth management, fund strategies, corporate strategies and many more to the investors' personal and corporate investments
- The company also acts as the strategy implementation hub to the shareholders’ companies which includes Saudi Home Loans, Dar Al Arkan, Alkhair Capital and over 30+ of their regional and international companies
- The role of corporate treasury in Tharwat is to manage banking relationships, identify best returns for short and long term investments and raising funds
- Liquidity Management: Manage and oversee daily transactions related to cash management, FX deals, Intergroup Funding and bank obligations
- Oversee funding processes for the group entities and ensure effective and punctuate Asset/Liability matching
- Fund raising: arrange for asset backed debts and working capital and monitor the collateral to maintain LTVs in the acceptable ranges
- Arrange for Shariah-compliant margin finance for Sukuk and equity portfolios
- Banking Relationship Management: Introducing new banks to the group for the diversity of service providers and gain advantages of competitions
- Liaise with GCC and International banks to maintain an active relationship and arrange for regular meetings
- Oversee the processes of on-boarding the group companies with banks, banks' KYCs and all periodic information disclosed to banks and other financial institutions
- Reporting: Oversee and supervise preparing treasury reports related to cash movements and positions, cash forecasts, investment portfolio valuations, collateral reports and credit facilities management report.
Treasury Manager
Thimar Al Arabiya
08.2016 - 05.2018
- Thimar is a family office based in Riyadh – Saudi Arabia for a number of UHNW Saudi prominent families
- The corporate treasury role in Thimar to Manage and supervise all aspects of cash flow and short term investments, Managing Assets and Liabilities to ensure adequate liquidity at all time, Developing key relationships with external parties including banks, clients, financing companies, government institutions and legal counsel
- Supervise and manage the working capital and cash management functions (fund transfers, receipts & disbursements and short-term investments of surplus funds and borrowings)
- Foreign Exchange management and ensure the company’s continuous benefit of its deals by keeping abreast of spot and future FX markets
- Negotiate FX deals with different banks and service providers to ensure the best quotes have been applied
- Implementing new technology for cash management including banking online services and Treasury Management Systems
- Prepare and analyse cash forecasts (2 weeks rolling forecast, monthly and annually cash flow projections)
- Liaise on daily basis with local and international banks to maintain an efficient banking relationships
- Manage and supervise credit facilities and Murabaha’s
- Review and update the financial covenants stipulated in the credit facility agreements
- Also, review and update the required collateral
- Maintain a log for all the periodic payments for financing facilities
- Making reports on bank positioning to control the borrowing costs
- Prepare comprehensive reports for the Group Facilities and related assets
- Prepare a mark to market valuation report on a daily basis for each holding
- Review all agreements and transactions between the Company and external financial institutions.
Treasury Operations Supervisor
Mawarid Holding Company
04.2013 - 07.2016
- MHC is a conglomerate and group of companies based in Riyadh – Saudi Arabia
- The group of companies includes listed and regulated companies
- Job Summary: Supervising corporate treasury operations related to cash management, loan administration, letters of credit/guarantee , analysis, reporting, bank accounts & facility documentation and special projects
- Supervise all transactions and ensure necessary procedures to minimize operational risks
- Coordinate Group Treasury (GT)'s future cash movement plans and ensure availability of necessary liquidity required across different funds
- Verifying banking transactions (loans, letters of credit/guarantee, commission, bank transfer applications, etc.)
- Supervising Loan administration, issuance of letters of credit/guarantee and subsequent administration
- Preparing the Group monthly cash forecast
- Review all bank documentation related to Facility Agreements, Bank Account limits and authorities and Standing Instructions
- Preparing monthly reports (loans, letters of credits/guarantee, funds approval, receipts and payments)
- Supervising issuance of letters of credit/guarantee with banks, beneficiaries and/or suppliers
- Supervising preparation of Journal vouchers and supporting documentation
- Processing and reviewing daily treasury reports
- Verify and approve daily data input reports related to disbursements, receipts, bank payments, loan transactions, LCs, LGs and reimbursements
- Liaising with banks and group companies in all treasury related matters
- Supervising staff of Cash Management & Loans officers, LGs, LCs and treasury accountants
- Performing analysis, supervising staff and other responsibilities assigned by the management.
Treasury & Banking Relationship Manager
AlMajal AlArabi Group
11.2010 - 03.2013
- Al Majal is a group of companies performs contracting businesses in different industries such as constructions, maintenance, whole sale trading, hospitality and catering
- Job Summary: Manage all group cash flow, try to reach to the optimal use of group facilities, follow up all projects collections and expenses, Prepare cash flow forecasts
- Prepare and monitor company’s various cash flow forecasts by received future needs and budgets from all group sectors
- Prepare daily Actual Cash Position, expected weekly and monthly Cash Flow
- Manage banking relationships and other key service providers
- Contact with bankers and investors and maintaining positive working relationships & Manage relationships with financial service providers
- Facilitating the Company’s relationships with commercial banks
- Negotiate banking fees & expenses from time to time
- Try to access the optimal and right financing for monthly projects progress payment and use it at the right time
- Ensure all Group contractual requirements of loan agreements, including repayment, interest payments and maturities of loans
- Implement new banking technologies, products and services to improve and expedite cash cycle and simplify company operations
- Prepare all Letters of Credit and bank guarantees requirements
- Manage and follow issuance, amendment or cancellation of Bid Bonds, performance guarantee and advance payment guarantee
- Manage and follow issuance or amendment of Local and International letters of credit and follow up bank procedures
- Have good experience of INCOterms
- Reviewing and preparing all necessary schedules for the year-end external audit and quarterly reviews.
Chief Accountant
Saudi Pioneers Securities
06.2007 - 10.2010
- Saudi Pioneers is a regulated company by the Saudi Capital Market Authority “CMA” licensed to perform brokerage in stock markets, asset management, custody and advisory services
- Job Summary: Prepare financial reports required by laws, regulations, and boards of directors , Prepare operational reports for management analysis
- Prepare financial statements monthly to present it to CMA (Saudi Capital Market Authority)
- Prepare a variety of studies, reports and related information for decision-making purposes
- Coordinate monthly closing process and reconciliation of general ledger accounts
- Develop and analyze information to assess the current and future financial status of The Co
- Review reports of securities transactions and price lists in order to analyze market conditions
- Evaluate financial reporting systems, accounting and collection procedures, and investment activities, operating systems, budgets, and other financial control functions
- Reconcile all general ledger accounts, monthly rental receipts and all other accounts
- Obtain and maintain a thorough understanding of the financial reporting and general ledger structure
- Manage petty cash account.
Internal Auditor
Pioneers Holding Company
05.2005 - 05.2007
- PHC is a holding company publicly listed company in the Egyptian stock market
- The group of companies perform in different industries includes financial services, real estate development and F&B industry
- Job Summary: evaluate operating guidelines, controls or procedures, and reports significant problems to management, ensure that internal procedures agree with corporate policies
- Ensure financial records are maintained in compliance with accepted policies and procedures
- Resolve accounting discrepancies and irregularities
- Examine and analyze accounting records to determine financial status of the Co
- And prepare financial reports concerning operations
- Review data about assets, net worth, liabilities, capital stock, surplus, income, and expenditures
- Report to management about asset utilization and audit results, and recommend changes in operations and financial activities
- Inspect cash on hand, notes receivable and payable, negotiable securities, and cancelled checks to confirm accurate recording
- Audit payroll and personnel records to determine unemployment insurance premiums, workers' compensation coverage, liabilities, and compliance with tax laws.
Accountant
Pioneers Holding Company
06.2004 - 05.2005
- PHC is a holding company publicly listed company in the Egyptian stock market
- The group of companies perform in different industries includes financial services, real estate development and F&B industry
- Job Summary: Prepare accounting records, monthly reconciliation for all bank account statements
- Prepare journal entries and reconciles general ledger and subsidiary accounts
- Prepare monthly reconciliation for bank statements
- Reconcile expenditure and revenue accounts
- Prepare and file annual financial statements.
Education
Certified Treasury Professional “CTP” -
Association for Financial Professionals - undefined
AFP
B.Sc - Accounting
Banha University
Skills
Microsoft Office “Word, Excel and Power Point”undefined
Accomplishments
- CME-1 (Saudi Capital Market Authority Exam) part 1 & 2
- Modern Accounting level 1& 2 (American University)
- Letter of Credit Issuance Workshop & Training at SAMBA BANK May -2011
Certification
Certified Finance Manager by Saudi Capital Market Authority
Additional Information
- Marital Status : Married Military status : Exempted
Timeline
Treasury Director
Tharwat Investment Holding Limited
05.2018 - Current
Treasury Manager
Thimar Al Arabiya
08.2016 - 05.2018
Treasury Operations Supervisor
Mawarid Holding Company
04.2013 - 07.2016
Treasury & Banking Relationship Manager
AlMajal AlArabi Group
11.2010 - 03.2013
Chief Accountant
Saudi Pioneers Securities
06.2007 - 10.2010
Internal Auditor
Pioneers Holding Company
05.2005 - 05.2007
Accountant
Pioneers Holding Company
06.2004 - 05.2005
Certified Treasury Professional “CTP” -
Association for Financial Professionals - undefined
AFP
B.Sc - Accounting
Banha University
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