MAHMOUD
Kuwait,Kuwait
Summary
A highly experienced senior Finance, Accounting and Human Resources leader with 35+ years of executive experience across diversified industries in Kuwait. Expert in financial reporting, budgeting, treasury management, internal controls, ERP systems and regulatory compliance Proven track record of strengthening financial governance, improving operational efficiency and delivering strategic financial insight to senior leadership.
Overview
45
45
years of professional experience
Work History
Accounting Manager
Public Services Co.
Kuwait
01.2005 - 01.2019
- Directed all accounting operations for a major public-sector services company, overseeing a finance team responsible for general ledger management, accounts payable, accounts receivable, payroll processing and bank reconciliations across multiple cost centres.
- Produced monthly, quarterly and annual financial statements in full compliance with local regulatory standards and International Accounting Standards, ensuring timely submission to senior management and regulatory bodies.
- Designed and implemented a comprehensive internal controls framework, establishing segregation of duties, approval hierarchies and audit trail requirements that significantly reduced financial risk and strengthened accountability.
- Led the annual budgeting and multi-year financial forecasting process, coordinating with all departmental heads to consolidate operational plans and capital expenditure requirements into a unified corporate budget.
- Managed treasury operations including daily cash flow monitoring, short-term investment of surplus funds, bank facility management and foreign currency exposure management to optimise the company's liquidity position.
- Oversaw the preparation of all statutory filings and tax returns, ensuring compliance with Kuwait's regulatory and taxation framework and liaising with government authorities to resolve queries efficiently.
- Served as the primary point of contact for external auditors during annual audit engagements, coordinating the preparation of audit schedules, responding to auditor queries and ensuring timely sign-off of audited financial statements.
- Implemented and continuously enhanced the company's ERP accounting system, leading system upgrades, training staff on new modules and automating financial reporting workflows to improve accuracy and reduce manual processing time.
- Monitored and analysed cost trends, identifying variances against budget and presenting findings to executive management with recommendations for corrective action.
- Maintained fixed asset registers, overseeing the capitalisation, depreciation and disposal of assets in accordance with company policy and applicable accounting standards.
- Reviewed and approved all significant journal entries, account reconciliations and financial adjustments, maintaining the highest standards of financial integrity across all reporting periods.
Finance Manager
Conjoint Group Co.
Kuwait
01.2002 - 01.2005
- Directed the full spectrum of financial management activities for a diversified trading and investment group, encompassing financial reporting, budgeting, forecasting, cash management and statutory compliance.
- Prepared and presented detailed monthly and annual financial performance reports to the Board and senior management, providing variance analysis, trend commentary and actionable strategic recommendations.
- Managed all banking relationships and negotiated credit facilities, trade finance instruments and overdraft lines to ensure the group maintained optimal financing structures aligned with its working capital cycle.
- Oversaw accounts payable and receivable functions, implementing credit control policies and collection procedures that reduced debtor days and improved overall cash conversion efficiency.
- Led the development of the annual consolidated budget, working closely with business unit managers to challenge assumptions, model scenarios and produce a financially sound plan approved by the Board.
- Identified and executed cost-reduction and process improvement initiatives across administrative and operational functions, delivering measurable savings in overhead expenditure.
- Ensured full compliance with all applicable financial regulations, VAT and taxation obligations, coordinating with external legal and tax advisors to manage regulatory risk.
- Recruited, trained and supervised a team of finance professionals, establishing clear performance expectations and fostering a culture of accuracy, accountability and continuous improvement.
- Coordinated the year-end audit process, preparing comprehensive audit packs and liaising with external auditors to ensure smooth and timely completion of the annual audit engagement.
Group Finance & HR Manager
Boushahri Group Co.
Kuwait
01.1979 - 01.1990
- Managed the consolidated finance and human resources functions across a large multi-entity corporate group, providing integrated executive oversight of financial governance, people management and organisational development.
- Prepared and presented group-wide consolidated financial statements incorporating all subsidiaries and associate companies, ensuring accuracy, consistency and compliance across all reporting entities.
- Developed and enforced group-level financial policies, internal control procedures and governance frameworks that safeguarded corporate assets and ensured full compliance with regulatory requirements.
- Led the group's annual budgeting and strategic financial planning process, consolidating subsidiary plans into a group budget and presenting financial projections to the Board of Directors.
- Supervised treasury and cash management operations across all group entities, coordinating intercompany funding, managing bank relationships and overseeing foreign currency transactions.
- Established and administered comprehensive HR policies and procedures covering the full employee lifecycle, including recruitment and onboarding, job grading, compensation and benefits design, performance appraisal, training and development, and disciplinary and grievance procedures.
- Managed payroll administration for the entire group workforce, ensuring accurate and timely salary disbursement in compliance with Kuwait Labour Law and applicable contractual obligations.
- Oversaw the negotiation and administration of employee benefit schemes, insurance programmes and end-of-service entitlements, ensuring equitable and compliant treatment of all staff.
- Coordinated with legal advisors on employment contracts, commercial agreements and dispute resolution, protecting the group's interests in all contractual and labour matters.
- Directed the implementation of ERP and accounting systems across group entities, standardising chart of accounts, reporting formats and financial processes to improve consolidation efficiency.
- Conducted periodic financial reviews of subsidiary performance, identifying underperforming areas and presenting recommendations to Group Executive Management for strategic intervention.
Accounting Manager
Kuwait Airconditioning Trading & Contracting Co.
Kuwait
01.1977 - 01.1979
- Managed all accounting operations including general ledger maintenance, accounts payable, accounts receivable, inventory accounting and bank reconciliations for a specialist trading and contracting company.
- Prepared monthly management accounts and financial statements, delivering timely and accurate reporting to senior management to support operational and commercial decision-making.
- Maintained project-based cost accounting records for contracting activities, tracking actual expenditures against project budgets and reporting cost variances with analysis to project managers.
- Controlled accounts receivable collections, implementing credit terms and follow-up procedures to minimise outstanding debts and maintain healthy cash flow for the business.
- Oversaw inventory valuation and stock reconciliations, ensuring accurate recording of goods received, issued and in-transit in alignment with physical stock counts.
- Ensured compliance with all tax and statutory reporting obligations, preparing required filings and coordinating with external auditors to facilitate the annual audit process.
- Maintained the fixed asset register and calculated depreciation charges in accordance with applicable accounting standards and company policy.
- Managed a small team of accounts clerks, assigning responsibilities, reviewing work output and providing on-the-job guidance to maintain accuracy and meet reporting deadlines.
Assistant Accounting Manager
Technical Appliances Co. (SHARP)
Kuwait
01.1974 - 01.1977
- Assisted the Accounting Manager in all aspects of financial reporting and accounts management for a consumer electronics distributor, gaining broad exposure to the full range of accounting functions.
- Maintained the general ledger, posting journal entries and performing monthly account reconciliations to ensure the completeness and accuracy of financial records.
- Processed accounts payable transactions end-to-end, verifying supplier invoices against purchase orders and delivery notes, obtaining payment approvals and scheduling timely disbursements.
- Supported accounts receivable management by preparing customer statements, following up on overdue balances and reconciling customer accounts to maintain accurate records.
- Assisted in the preparation of monthly trial balances, income statements and balance sheets, ensuring all supporting schedules were properly maintained and reconciled.
- Helped compile annual audit working papers and documentation, liaising with external auditors to provide requested information and clarifications promptly.
- Assisted in managing petty cash funds, performing regular cash counts and preparing reconciliation reports to ensure accurate control of small expenditures.
- Contributed to improving accounting procedures and month-end close processes, identifying areas where workflow could be streamlined and implementing practical solutions under senior supervision.
Education
Bachelor of Commerce - Economics & Business Admin.
Beirut Arab University
Beirut, LebanonSkills
- Financial Reporting & Analysis
- Strategic Budgeting & Forecasting
- Cash Flow & Treasury Management
- Internal Controls & Audit
- ERP & Accounting Systems
- Regulatory & Tax Compliance
- HR Administration & Policy
- Team Leadership & Mentoring
- Cost Control & Optimisation
- Stakeholder & Board Reporting
- Payroll & Benefits Administration
- Consolidation & Group Admin
- Inventory & Store Controlling
Accomplishments
- Implemented an ERP system that improved financial accuracy, efficiency, and transparency.
- Streamlined the month-end close process by introducing automation.
- Supported revenue growth and strengthened gross margins through strategic pricing analysis.
- Maintained flawless compliance, achieving consistent audit success.
- Reduced operating costs and secured savings through effective vendor negotiations.
- Built and led a high-performing finance team.
License
Kuwaiti private license, Valid
Languages
- English
- Arabic, Native
- English, Professional
Personal Information
- Date of Birth: 08/20/47
- Nationality: Lebanese
- Marital Status: Married
Industries
- Public Services
- Diversified Conglomerates
- Trading & Contracting
- Consumer Electronics
- Group Holdings
Professional Development
- CFC Review Course, 2015
- CMA Review Course, 2011
- ABA Review Course, 2008
Timeline
Accounting Manager
Public Services Co.
01.2005 - 01.2019
Finance Manager
Conjoint Group Co.
01.2002 - 01.2005
Group Finance & HR Manager
Boushahri Group Co.
01.1979 - 01.1990
Accounting Manager
Kuwait Airconditioning Trading & Contracting Co.
01.1977 - 01.1979
Assistant Accounting Manager
Technical Appliances Co. (SHARP)
01.1974 - 01.1977
Bachelor of Commerce - Economics & Business Admin.
Beirut Arab University