Summary
Work History
Education
Skills
Training
Attributes
Languages
Timeline
Generic
SALEM BAFAGIH

SALEM BAFAGIH

Cairo

Summary

Thorough team contributor with strong organizational capabilities. Experienced in handling numerous projects at once while ensuring accuracy. Effective at prioritizing tasks and meeting deadlines.

Work History

Head of Cost Control and Budget

08.2012
  • Develops budgetary principles, standards, guidelines and procedures for the review and endorsement of Budgets in discussion with the Internal Controls Manager
  • Applying budgeting guidelines and suggest cost structure
  • Suggest cost optimizations areas that will help to applying the cost reductions
  • Reviews and organize budget and CF process timetable and make sure that CC deliver the budget, CF within the deadline
  • Make sure that all narrative sheets for Budget and CF are updated accurately and proper justification provided
  • Make sure that the department managers as well as other employees are receiving adequate support from cost controllers
  • Review monthly activities (Actual and accruals) and make sure consistency of amounts captured in our books
  • Develops the various Financial, Management Information and Cost Reports produced for the Company Divisions on a monthly and ad hoc basis and as required
  • Validate and approve payments (SES's) up to USD250K per transaction
  • Develops staff through external training courses and internal mentoring process
  • Leading the team for Budget tool implementation.

Head of Operations Accounting- Yemen LNG Company Ltd

04.2009
  • Ensures that Accounts Payable and other financial information is timely, accurate and booked to the ledger and paid to vendors on time
  • Develops monthly aged Accounts Payable listing by Division for circulation to managers
  • Perform review of the Yemen Accounts Payable process and prepare recommendations for improvements
  • Prepares for and assists in answering queries from vendors, management, external and internal auditors
  • Develops and maintains the Accounting manual covering Accounting Principles such as GAAP; Chart of Accounts; Accounting Structure and Accounting Procedures
  • Ensures the monthly / quarterly / annual Ledger closure timetable is distributed to, and understood and acted on by, all relevant personnel so financial reports can be produced on time
  • Develops financial reports / invoices to Shareholders and responds to any queries from them
  • Ensures accounting documentation and systems are adequately protected in discussion with the Internal Controls Manager
  • Act as Financial SAP Lead User
  • Ensure that the LNG prices are calculated in accordance with the SPA and compare the results with C&S figures
  • Ensures that Invoices to YLNG Customers are issued on time and in accordance with the SPA
  • Ensures that the calculation of Royalty, Profit Share and Upstream fees are calculated and paid in accordance of the GDA and Upstream Operating Agreement
  • Develops cross functional links and with outside parties such as Auditors and Government Departments
  • Develops control standards in conjunction with the Internal Controls Manager.

Head of Treasury - Yemen LNG Company Ltd

06.2006
  • Establish YLNG treasury team including recruiting and banking deals
  • Plan and administer the Treasury Department, including all the payments through petty cash, Checks and WT including controlling all the out going payments and make sure that we have enough cash in all our local and overseas banks to pay of all invoices related to the YLNG Operation
  • Facilitates the opening, closing and operation of all Bank Accounts by reference to the Delegation of Authority Guide (DOAG)
  • Develops system for cash deposits and foreign currency transactions in conjunction with relationship banks in Yemen and Offshore
  • Prepare and Provides cash forecasts to shareholders in different scenarios
  • Establishes and develops corporate banking relationships with banks both in Yemen and Offshore for Project Financing purposes and actions requirements under the various Banking Agreements
  • Ensures Bank Reconciliations are prepared and reviewed on all Bank Accounts by himself and the Internal Controls Manager on a monthly basis
  • Ensures cash, bank statements, cheque books, signature plates and machines are kept in a secure location
  • Develops Bank online payment systems control procedures in co-ordination with the Internal Controls manager
  • Develops signatory process for cheques and online payment systems with reference to DOAG
  • Review the Performance bond list and advice the legal of the status of each one and request for Performance bond extension from the vendors if it is required
  • Develops system to ensure the Drawdown process for Project Financing is verifiable and secure and that Lender's requirements are achievable
  • Project Financing Administrator, responsible for the following: Calculating and preparing the drawdown DD notice
  • Calculating intranet and other fee associated with borrowing and make sure to sand the DD within the due date
  • Updating the financial model in accordance with the loan and CTA
  • Respond to the lenders quires
  • Update the repayments schedule and make sure that we have to pay the installments with in the due date
  • Prepare and make sure that the amounts received from lenders are recorded correctly in the financial system
  • Recommendation of investment the access funds
  • YLNG insurance coordinator
  • Liaise with the operation team and the Insurance sub committee to update the insurance TF.

Disbursement and Treasury Supervisor- Canadian Nexen Petroleum East Al- Hajr Ltd.

07.2005
  • Plan and administer the Disbursement Accounting Function, including data entry, reviewing, and verifying of all invoices related to the Yemen Operation
  • Prepare monthly report of Accounts Payable statistics (invoices processed, payments, etc.) and ensure integrity of Aged Accounts Payable Sub ledger to the General Ledger - including analyzing and resolving any discrepancies
  • Prepares for and assists in answering queries from vendors, management, external and internal auditors
  • Ensures company's obligations are paid according to the terms of the purchase orders, service orders and contracts
  • Plan and administer the Treasury Accounting Function, including all the payments through petty cash, Checks and WT including reviewing the monthly upload of petty cash to SAP and controlling all the out going payments and make sure that we have enough cash in all our local and overseas banks to pay of all invoices related to the Yemen Operation
  • Arrange with the bank for transfer from our USD bank account to our YER bank account to pay our all the invoices in local currency
  • Preparing monthly cash forecast and submitted to Senior Management and to Corporate Treasury
  • Preparing a DOA and obtain Nexen Inc approval if required for all the contracts that need approval by Nexen Inc Senior Management & Advise the logistics if the contract dose not require Nexen inc approval
  • Review the Performance bond list and advice the legal of the status of each one and request for Performance bond extension from the vendors if it is required
  • Perform review of the Yemen CNPE Treasury process and controls prepare recommendations for improvements
  • Preparing and communicate all the changes in the banking signatures to the local and overseas banks and preparing the letters of opening and closing all the bank accounts.

Disbursement Supervisor

01.2005
  • Plan and administer the Disbursement Accounting Function, including data entry, reviewing, and verifying of all invoices related to the Yemen Operation
  • Prepare monthly report of Accounts Payable statistics (invoices processed, payments, etc.) and ensure integrity of Aged Accounts Payable Sub ledger to the General Ledger - including analyzing and resolving any discrepancies
  • Perform review of the Yemen Accounts Payable process and prepare recommendations for improvements
  • Prepares for and assists in answering queries from vendors, management, external and internal auditors
  • Ensures company's obligations are paid according to the terms of the purchase orders, service orders and contracts.

Education

BBA - Accounting

Sana'a University

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Skills

Problem-Solving

Training

  • Accounting in Oil and Gas Industry
  • Supervisory Skills
  • International Accounting standard
  • Advance Cash Flow
  • Advance Treasury Management
  • Efficient Finance and Accounting Operations: 2010 Best Practices and Update
  • The complete course on budgeting, planning, forecasting, What- if analysis & reporting

Attributes

Highly talented, energetic and self-motivated Finance and Accounting professional with a distinguished record of professional achievements. Seeking a challenging position with a dynamic organization that welcomes initiative and demands excellence., Ability to effectively plan, coordinate and meet deadlines in a leading LNG company., Exceptional ability to work under high pressure, developing quality and enhancing the decision making process., Recognized for taking a leadership role in supporting top management, with exceptional work ethics and commitment to organizational objectives., Excellent communication and interpersonal skills.

Languages

Arabic

Timeline

Head of Cost Control and Budget

08.2012

Head of Operations Accounting- Yemen LNG Company Ltd

04.2009

Head of Treasury - Yemen LNG Company Ltd

06.2006

Disbursement and Treasury Supervisor- Canadian Nexen Petroleum East Al- Hajr Ltd.

07.2005

Disbursement Supervisor

01.2005

BBA - Accounting

Sana'a University

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SALEM BAFAGIH