khaled Mohamed Farid

CAREER ACCOMPLISHMENTS:  Upon appointment as a Financial Controller for MAC Iraq , Based in Baghdad , and aiming to help turning things around I was requested to lead teams of professionals to migrate the key accounting operations from Dubai to Iraqi . Although it’s the 1st in its kind since the incorporation of the Iraqi subsidiary 14 years back ; the critical part wasn’t in the migration in itself but is how to sustain the change and ensure autonomy and continuity. In collaboration with the local team we achieved the following :  $360 K reduction in annual personal costs  Helping to Improve the company’s leverage lowering it down from 22% to 9% in 2018.  Changing the vehicles warehousing strategy from inhouse to outsource (Dubai Warehouses ), saving $390 K in annual lease costs.  For the 1st time ever in the group, deploying the Suretyship Concept to reasonably mitigate the inhouse credit risk , securing In-house credit for $2.1 M. 