Arif Iqbal Siddiqui

Riyadh, Saudi Arabia

Mob: 966-563310402
arifsidd@rediffmail.com

FINANCE & ACCOUNTS PROFESSIONAL

(ICMAI)
PROFILE :
The Key role is to measure, manage and improve group performance, core operating processes that would be required
to deliver the performance that the strategy demand. Focus much more on the key business drivers and information
flow that help predict business performance quickly and consistently. Design appropriate reporting systems which
influence outcomes through detailed insight and revolves around transformation efficiencies. Drive
productivity/efficiency program, providing feedback on achievement and challenging the business to think outside the
box in a collegiate and consultative manner.

CAREER HIGHLIGHTS
 Working alongside the management team to improve the Profitability of the entity.
 Identifying cost reduction avenues of the entity and re-engineering the cost structure.
 Improving the cash flow position and maintaining the liquidity of the entity, managing the Working
capital requirement of the entity.
 Strategizing and developing a 3 years Growth Plan for the entity.
 Ensuring proper Internal control for finance department.
 Reviewing and aligning the entity to the plan to ensure achievement of set objectives.
 Knowledge of IFRS Guidelines.
 Successful Implementation of Costing and Financial Accounting System in Oracle and IFS ERP
Software. Leading to better control on process and enable data based decision making.
 Expert knowledge of VAT from administration of VAT to filling of VAT Return and Conducting VAT
Hearing with the VAT Authority.
 Converted cost centers to profit centers there by unlocking the Revenue potential of the department.
Increasing the Revenue of the company by 1.25million in the First year.
 Identifying Contribution Margins of the product/product group and directing the efforts of the sales team
towards high margin products there by achieving better profitability for the company.
 Successfully resolved Labor strike through tactful negotiations.

EDUCATIONAL CREDENTIALS
 Cost and Management Accountant (C.M.A) in December 1997.(Institute of Cost & Management
Accountant of India)
 Bachelor of Commerce from Calcutta University (India) in the year 1993
 Diploma in Computer Science (Windows, Office, Accounting Software
Tally & Fact)
Professional Experience
Head of Finance, KSA (sep 22 to date)
Aster Sanad Hospital – Multi Specialty Hospital
 Reporting to the CEO. Responsible to oversee the Financial operation of the entity PAN KSA.
 Responsible for the company’s expansion project in KSA.
 Spearhead the strategic planning, controlling and evaluation of all activities of the Hospital.
 Identified new Revenue source providing an additional revenue of SAR 1.00 mil per month
 Plugged Revenue leakage providing additional revenue gain off about 500K per month.
 Reduced technical rejection by about 50%
 Rationlised Manpower cost by 8% of Admin Payroll.
 Developed the 5 Yrs. Business Plan
 Developed the Operation and Mangement Model
 Developed the operational plan for the start up Pharmacy Bussines.
Finance Manager (July 2021 - Sep 22)
City Med Hospital – A newly established hospital, commenced operation in July 2021.Acquired by
Dr Soliman Fakeeh Hospital ,Jeddah in June 22.
 Reporting to the CEO. Responsible to provide financial Leadership advice and support to the entity.
 Developing the Finance Model.
 Setting up Finance Policy and Procedure.
 Implement the ERP system keeping in mind the needed Policy and internal control.
 Develop the Business Plan and the KPI for the various department.
 Building on the policy and procedure.
 Part of the team negotiating with the Insurance companies for Contract.
 Preparation of the Budget for FY 2022.
 Preparing and finalizing the Accounting for audits.
th
Head of Finance ( April 2018 to 5 July 2021)
NMC Specialty Hospital Al Salam, KSA., An NMC Group acquisition under JV with HASSANA.
 Reporting to the Group CFO and Facility Head. Responsible for providing financial leadership,
advice and support to the entity.
 Saved the organization 20% of the Manpower cost over a period of 3 yrs.
 Increased Revenue by about 20% by identifying the idle capacity and judiciously closing the
gap.
 Better P&L performance by outsourcing number of non core activity.
 Better cash flow management leading to a more cash positive organization.
 Developing the Annual Budget Plan and the 3 years Business Plan.
 Monitoring the Budget and advising the management on the variances.
 Conducting studies and analysis of the data to provide vital information on the entities performance
and directing the studies towards achievements of strategic goals.
 Measuring performance against pre agreed standards and milestones, analyzing the reasons for the
variances and brain storming with the management how to close the gaps.
 Ensuring financial information is timely, accurate, complete and compliant with relevant
accounting, taxation principles and regulatory requirements.
  Driving innovation in the finance function to improve financial and management reporting.
 Responsible for evaluation of Group’s performance, and take a lead role in driving change and
improvement.
 Responsible to ensure that the finance function have reliable financial reporting systems capable
of generating reports that satisfies stakeholder’s requirements.
 Responsible for developing and implementing Group’s financial policies and procedures
 Responsible to ensure that the organization’s financial affairs and assets are well managed, costs
are controlled effectively and resources are efficiently utilized to achieve strategic objectives.
 Manage the processes and systems for formulating and evaluating business strategies/performance
including planning, forecasting and budgeting, advanced analysis of financial data and segment /
customer profitability
 Responsible to Coach, develop & ensure the motivation of the team and provide them with the
needed support
 Strategized the company’s growth path, supporting and guiding the core team towards its
achievement.
 Establishing KPI’s and milestones towards achievement of the plan.

Manager Financial Accounting & Reporting (March 2017- March 2018)

Arabian Entertainment Company (Chain of Restaurant)
 Reporting to VP – Finance.
 Re organized the company’s portfolio of brands to maximize profits.
 Installed better inventory management leading to potential cost savings.
 Spearheading the implementation and administration of VAT for the company.
 Review and Advice on Internal Control.
 Performance Analysis.
 Establishing and Monitoring the Key indicators for strategic growth of the company.
 Spearheading the transition to IFRS.
 Leading a team to ensure the organization is VAT ready before FY 2018.
 Overall Responsible for entire Finance and Accounts Function.
 Responsible for administering all the insurance scheme of the company.
 Oversee and ensure the accuracy and timeliness of the Month End Closing.
 Prepare, Analyze and present the Month end Reports.
 Ensure the Liquidity of the company.
 Review and Suggest Policy and Procedures.

FINANCIAL PLANNING AND COST CONTROLLER, (Aug -2015 – Feb 2017 )

BRC INDUSTRIAL (SAUDIA) LTD
(Manufacturer of Rebars and Allied construction and fencing products)
JOB RESPONSIBILITIES
 Reporting to the C F O
 Administer, oversee and overall control of month end closing process.
 Preparation of month end and year end Financial Reports and Management Accounts, within timeline.
 Preparation of Divisional and Segmental Financial Report and other MIS report required by the
management.
 Cash Flow Forecast and interpretation.
 Administration of Working Capital and Term Loan Requirements of the Company.
 Spearheading cost reduction initiatives of process and projects through standardization of systems &
processes
 Perform detailed cost analysis and provide explanations/ cost drivers behind periodic variance
 Identify the overlapping to optimize output improving productivity per person/ Machine, Department,
Business wise
 Group level Costing (Project and Product) / Standard Costing and Variance Analysis
 Division wise cost analysis and advise the top leadership on key cost savings initiatives
 Validation of process, systematic analysis of organization processes
 Develop recommendations for changes to processes and systems that will minimize risk, improve
performance and productivity
 Maintaining and Reporting the KPI achievement
 Analysis of the Product Pricing along with GP Margin Analysis. Suggesting correction to align the
pricing with the Market price.
 Measuring and Reporting the Actual performance against the company’s long term strategic goals and
analyising and presenting corrective actions
 Working with the process owners to explain the financial numbers reported, ensure that non finance
executive understands the variance and take corrective action to align performance to corporate goals.
 Preparation of CAPEX AND OPEX Budget,
 Instill Budgetary Control and Report Variance along with the reasons for the same.
 Assist the C.F.O. with the Board Presentation Pack.
 Preparing reports and forecast required by the Senior Management to make strategic decision.
 Handling Internal Audit and Statutory Audits.
CHIEF ACCOUNTANT & COST ACCOUNTANT, INDUSTRIAL (Sept-2011 – Aug
2015)-
Al SORAYAI TRADING AND INDUSTRIAL CO L.L.C (Manufacturing of carpets, chemical, yarns,
foam, steel, furniture, Paper)
JOB RESPONSIBILITIES :
 Reporting To Finance Controller
 Responsible for implementing a software based costing system for the company.
 Developed an off hand automated product costing module to help the Design and Development
department to develop products that can compete market driven pricing.
 Responsible for Budgetary and Cost control function.
 Preparation of Monthly Financial Statements.
 Preparation of Dash Board Report.
 Valuation and Analysis of Inventory.
 Calculating of goods sold.
 Costing of New Products,
 Implemented Landed Cost Module in Oracle ERP.
 Monthly closing of Accounts.
 Preparation of monthly Financial Statements (Income Statement , Balance Sheet, Cash Flow, Sales
Analysis, Inventory Analysis, Production Reports )
 Preparation of Management Report for SIDF and other Financial Institution.
 Assist in preparation of Yearly Budget.
 Handling Internal Audit and Statutory Audits
INTERIM CHIEF ACCOUNTANT, FURNITURE RETAIL (Feb-2015 – Aug 2015)
Additional Resposibility taken over by my team..
 Established and Monitored the Advertising Budget for sales promotion, in coordination with the
Furniture Retail Head.
 Monitored the Gross Margin Expected from the Sales Promotion and reported to the management the
actual Gross Margin achieved during the Sales Promotion.
 Monitor the non Moving stock and co ordinated with the Furniture Retail head to ensure there clearance
during Sales Promotion.
 Effectively brought down the investment in Stock by strict control.
 Developed the SOP for Process such as Procurement, Promotion sales, Discounting products for
Promotion sales.
 Developed the Policy and Procedure for sales and procurement.
 Developed new reporting formats for reporting the performance to higher management.

Manager (Finance) - Feb 2009 to Sep2011

Flexi Seating Systems, ( Furnitures & Electronics),India
Job Responsibilities :
 Reporting to the General Manager
 Preparation of Monthly Financial Statements.
 Maintaining the company’s Credit Facilities with the Bankers.
 Preparation and filling of Monthly /Quarterly returns of Income Tax, VAT and Excise.
 Represent the Company at all the Statutory Forum and handle their queries and attend hearing
 Valuation and Analysis of Inventory.
 Costing of New Products,
MANAGER (F&A)- (Jan 2005, to Feb2009) - M/S. H M ENTERPRISES,(Leather) India
Responsibilities

 Independent Charge of Accounts, Finance and Audit Functions.

 Budgeting, Costing
 Responsible for Direct and Indirect Tax compliance, filling of returns and successful completion of
assessment.
 Inventory Control - Controlling stock of raw materials
 Creating items wise Cost Sheet and Articles Specification Sheets for documentation and future use.
 Assuring that the production cost is with in the stipulated standard cost
 Responsible for the Set Up of the New Factory at The Special Economic Zone,
 Interacting with the Buyers to close Annual buy Contracts.
MANAGER (F&A- . (Jan 2004 to Feb 2005 )-M/s. BRIGHT VISION PVT. LTD
(Merchant Exporter )India
Job Responsibilities

 All Finance and Accounts functions including administration of Banking Facilities.

 Cash Flow Managements.
 Preparation of Salary sheets and filling of return for Professional Tax, Provident Fund and ESI
departments. Along with conducting their Annual Assessment.
 Administration of VAT, Filing returns and Assessment of VAT with the authorities.

MANAGER TREASURY - Dec-2002 to Feb 2004-UNITED GULF STEEL MILLS

COMPANY
LIMITED.SAUDI ARABIA, Manufacturing of Billets and Long Products
Job Responsibilities
 Cash Flow Management
 Collection / Debtors Management
 Planning and Disbursement of funds
 Compliance with banking requirements
 Budgeting and Project Reports
 Insurance Management.
Manager (Merchant Banking)- Aug-1998 to Nov-2002) - SUMEDHA FISCAL SERVICES
LTD (CATEGORY I) MERCHANT BANKERS.
Job Assignment
 Functioning as Lead Managers / Co- Lead Managers
 Book Runner/ Book Running Lead Manger
 Vetting of Venture Capital Proposal
 Due Diligence for Primary Market and
Secondary Market Issues.
 Preparation of Project Reports

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PERSONAL DETAILS
DATE OF BIRTH : 11TH JANUARAY 1971
NATIONALITY : INDIAN
PASSPORT EXPIRY : APRIL 2019
Marital Status : Married
Language : English, Urdu, Hindi and Bengali, Arabic
Iqama : Transferable (Profession: General Accountant)