nfahed

Development Consultant, Business Development & Expansion KSA

Key Result Areas: • Developed and implemented a comprehensive cost estimation model to ensure procurement cost fairness, leveraging global methodologies to verify price accuracy and drive strategic investment decisions. • Led the financial evaluation of large defense projects, ensuring alignment with national strategic objectives while maintaining cost efficiency and transparency. • Managed strategic cost estimation for multi-billion-dollar infrastructure and defense projects, ensuring alignment with budgetary constraints and long-term financial objectives. • Directed cross-functional teams in optimizing procurement processes, improving the accuracy of cost assessments by 30%, and achieving substantial cost savings through strategic negotiations with global suppliers. • Developed a cost verification framework, reducing procurement costs by 25% and improving project lifecycle profitability by 18%. Received the 2023 Certification of Appreciation from the Deputy Ministry of Defense for Procurement and Armament for outstanding contributions to cost estimation methodologies Ministry of Defence (MOD), KSA • Scope: Established an integrated cost management functions within the purchasing sector to ensure fair pricing using advanced methodologies. • Responsibilities: Implemented comprehensive policies, methodologies, and procedures for cost estimation, performance measurement, and team training, fostering a culture of excellence in financial management, curated databases for estimated costs to support negotiation processes and maintain budgetary controls. • Achievements: Launched a fully functional estimated cost management system that enhanced the capability to manage procurement costs efficiently, resulting in a 15% reduction in overall procurement expenses. Financial & Commercial Reporting • Enhanced internal decision-making and operational control through the development of robust commercial reporting mechanisms, providing real-time insights for stakeholders. • Established financial reporting protocols to ensure compliance with regulatory standards, promoting transparency and accountability in financial practices across organizations.

Key Result Areas: • Led the financial oversight of ITC’s FTTH services, driving the development of corporate financial strategies, accounting systems, and performance evaluation models aligned with international accounting standards. • Managed the full spectrum of financial operations, including accounts payable, revenue management, billing, collection, and profitability analysis, ensuring compliance with international accounting standards. • Successfully optimized cost and management accounting processes, contributing to a 15% increase in profitability through cost rationalization and process optimization. • Developed and implemented a new business line for FTTH services, securing government financial support and increasing revenue by 22% within the 1st year. Played a pivotal role in restructuring the financial policies and procedures to enhance operational efficiency and accuracy of financial reporting. Financial Sector Development - Integrated Telecom Company (ITC), KSA • Scope: Built an independent and integrated financial sector specializing in fiber optics and internet services, optimizing financial operations and reporting. • Responsibilities: Established comprehensive financial policies, procedures, and systems in collaboration with the Networks and Marketing teams to enhance operational efficiency and service delivery. Developed financial reports that supported strategic decision-making and improved financial visibility for stakeholders. • Achievements: Achieved the establishment of a fully integrated financial sector that streamlined operations and improved service provision, leading to a 25% reduction in operational costs. Integrated Cost Management System - KSA • Scope: Established an integrated cost management functions within the purchasing sector to ensure fair pricing using advanced methodologies. • Responsibilities: Implemented comprehensive policies, methodologies, and procedures for cost estimation, performance measurement, and team training, fostering a culture of excellence in financial management, curated databases for estimated costs to support negotiation processes and maintain budgetary controls. • Achievements: Launched a fully functional estimated cost management system that enhanced the capability to manage procurement costs efficiently, resulting in a 15% reduction in overall procurement expenses. Current Policy & Procedure Implementation • Integrated Telecom Company (ITC): Developed and enforced policies such as Project Under Construction Cost Policy and Risk Monitoring Procedures, ensuring rigorous financial control and alignment with organizational objectives. Financial & Commercial Reporting • Enhanced internal decision-making and operational control through the development of robust commercial reporting mechanisms, providing real-time insights for stakeholders. • Established financial reporting protocols to ensure compliance with regulatory standards, promoting transparency and accountability in financial practices across organizations.

STC Telecom – Saudi Arabia Director – Cost & Management Accounting | 2007 – 2018 | Key Result Areas: • Led the design and implementation of SAS cost and profitability management systems, aligning with regulatory requirements set by CITC, and enhancing financial transparency across the organization. • Directed the Shared Services financial model implementation, which optimized resource allocation across HR, Procurement, and IT, resulting in a 30% increase in service tracking accuracy and a 40% reduction in associated costs. • Spearheaded the automation of cost management processes, contributing to a 13% improvement in operational efficiency and a 36% reduction in operating costs. • Led a cross-functional team to develop an advanced cost allocation framework, ensuring accurate cost assessments across 1700+ basic services and 850+ final services. • Successfully negotiated with regulatory bodies to establish critical telecommunications regulations (RIO and RODA), securing STC’s competitive positioning in the Saudi market. • Recognized for exceptional leadership in the implementation of the STC billing system (GENVA), ensuring seamless integration with the ABC system to enhance cost and profitability tracking. Senior Finance – Cost & Management Accounting | 2003 – 2007 | Key Result Areas: • Led the transition of STC from a government entity to a commercially operated business by implementing an Activity-Based Costing (ABC) system, driving more informed business decisions and enhanced financial visibility. • Part of a high-profile committee responsible for evaluating STC service pricing, overseeing interconnection costs between business units, and ensuring regulatory compliance across financial reporting functions.

ABB Group – Saudi Arabia BU Finance Controller |1997 – 2003 | Key Result Areas: • Directed financial planning, budgeting, and performance management for ABB’s global operations in Saudi Arabia, Bahrain, and Yemen, achieving significant improvements in profitability and operational efficiency. • Developed and implemented the Finance Shared Services concept, resulting in a 50% efficiency increase and a 36% reduction in operational costs. • Promoted to Financial Controller of the Global Services Business Unit, where I successfully increased net income by 28% through robust feasibility studies and strategic financial recommendations. • Spearheaded the creation of the Finance Share Services Department, standardizing financial operations and enhancing service delivery across multiple regions. • Improved cash flow management through effective debt financing strategies and optimized payment approval processes using the HEXAGON Global electronic banking system.