Farid M. Isayev Email and Phone Number
Farid M. Isayev is a Chief Financial Officer and Board Member at Giltex LLC. He is proficient in English.
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Chief Financial Officer And Board MemberGiltex LlcBaku, Az -
Chief Financial OfficerGiltex Llc Apr 2024 - Present -
Board Member & Group CfoPrivate Equity Firms & Family Offices Oct 2020 - Sep 2023• Increased the profit margin from 45% to 70% in 12 months by introducing new concept to the ongoing project• Worked closely with cross-functional teams to reverse downward trend in doubtful receivables• Optimized accounts receivable portfolio by negotiating with clients and decreased doubtful receivables portfolio from $5 million to $1 million.• Researched and secured a $5 million credit line and used free cash flow to generate an additional $2 million in revenue.• Raised sales by 70% by analysing post covid real estate market and redesigning marketing and advertising spending budgets.• Analyzed product categories and refocused the business on higher margin business areas.• Worked closely with international teams to increase the efficiency of budgeting and reporting processes of Turkey and Azerbaijan based projects• Developed 5 new investment projects and business opportunities within Turkey including feasibility studies, business plan and NPV analysis and presented these businesses to the shareholders. -
Chief Executive OfficerAfam Group Apr 2017 - Oct 2020Baku, Nasimi, Az• Effectively managed portfolio of 17 companies operating in banking, insurance, construction, education, agriculture and hospitality sectors.• Effectively managed team of over 1000 employees in 15 locations and 3 countries.• Developed intensive business strategies, short term goals and long term objectives.• Increased revenues by over 200% in 3.5 year time span.• Initiated a group wide transformation and introduction of new KPI and bonus scheme which increased utilization rates by 15% and 12% during the first two years respectively.• Initiated change in company culture to be more independent, open and transparent and to speek up freely.• Restructured and rotated work force in underperforming departments to increase efficiency and productivity• Slashed consolidated costs by over 20% by negotiating with suppliers and stakeholders• Oversaw executive leadership and public relations with media -
Member Of The Supervisory BoardAtabank Commercial Bank Sep 2017 - Aug 2019• Effectively participated in approval process of Bank’s strategy, medium-term and short-term plans• Initiated a country wide cost and branch optimization process• Successfully developed new marketing and sales strategy for the bank• Implemented new KPI and bonus schemes for key positions on the Executive Board• Actively participated and gave recommendations for the appointment and/or removal of external auditors• Effectively managed approval of all circulars, prospectuses and significant press releases
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Head Of Department For Tax Monitoring At Financial InstitutionsMinistry Of Taxes, The Republic Of Azerbaijan Mar 2016 - Apr 2017Az• Effectively managed a team of 18 people in 4 division.• Effectively audited and monitored the tax calculations and payments of financial institutions• Oversaw implementation of FATCA procedures in Azerbaijan and as a result helped to create a new tax base for state budget.• Contributed to raise over additional $ 5 million taxes to the state budget• Effectively monitored AML/CTF procedures in financial institutions• Actively participated in creating and connecting the MoT to International exchange of information platform. -
Chief Financial OfficerSynergy Group Ojsc Feb 2015 - Feb 2016Baku, Az• Effectively managed a team of 12 people in 5 different locations.• Managed financial capital; communicated capital requirements/ implications of business decisions to CEO• Initiated the process to introduce and implement ERP software for the whole group and got the approval of the board and successfully led the implementation of ERP software across the head office and 15 subsidiaries by decreasing paperwork by 70% within the group.• Conducted thorough requirement reviews, business process reviews, discovered and documented requirements for custom reports and programs• Ensured efficient capital expenditures by optimizing taxes by 10% • Introduced zero budgeting concept and implemented across 25 subsidiaries operating in different industries• Effectively lead the finance / accounting team by hiring and retaining top-grade talent• Introduced and implemented new analytical tools expand financial reporting systems to determine daily and weekly gross profit estimates -
Director Of Audit & Internal ControlSynergy Group Ojsc Nov 2012 - Feb 2015Baku, Az• Successfully liaised with the management of the business, the executive directors in relation to the overall system of internal controls and risk management processes and worked with them by driving appropriate action to mitigate any material exposures• Developed and managed the Internal Audit plan designed to provide both assurance over the operation of key controls and insight into key operational areas of the business• Actively championed a risk-aware culture and the benefits of independent assurance activity• Effectively developed control solutions and championed internal control and corporate governance concepts throughout the business• Proactively analyzed the entity's business processes to define requirements of the system design and provide recommendations to management on process improvements• Regularly met with company managers to discuss financial matters and made recommendations -
Senior AssociatePricewaterhousecoopers Jul 2008 - Oct 2012Gb• Performed ISA audits of IFRS financial statements of banks, financial companies operating in Azerbaijan, including International Bank of Azerbiajan, Unibank, DemirBank, Standard Bank, Yapi Kredi Bank, International Insurance Company, Unileasing.• Gained an extensive experience in provision of advisory services in IFRS transition to State Oil Company of Azerbaijan Republic, and actively worked as a team leader and team manager on this project for 3 consecutive years; • Led teams of 2 to 8 audit staff by assigning them daily fieldwork, reviewing audit papers, coaching & assessing their performance; has full responsibility for the conduct of the fieldwork, documentation in Aura file, review of the compilation of IFRS financials and IFRS conversion adjustments, clearing critical matters and issues identified in the course of fieldwork with FS partners; billing client management. • Raised and cleared technical issues with PwC Technical Department on complex technical accounting matters in IFRS: IAS 39 accounting, IFRS 7, IFRS 3, clearing of ACS comments on IFRS FSs.• Participated in PwC Academy projects and actively involved as a tutor in IFRS training project to Unibank Commercial Bank and Akkord Construction Company. Participated and actively involved as a tutor in Assurance 1 trainings to new joiners for 2 consecutive years. -
InternKarasu Operating Company Jun 2006 - Sep 2006
Farid M. Isayev Education Details
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Koç UniversityExecutive Mba -
AccaMember -
California State University, Los AngelesFinance -
Khazar UniversityFinance
Frequently Asked Questions about Farid M. Isayev
What company does Farid M. Isayev work for?
Farid M. Isayev works for Giltex Llc
What is Farid M. Isayev's role at the current company?
Farid M. Isayev's current role is Chief Financial Officer and Board Member.
What schools did Farid M. Isayev attend?
Farid M. Isayev attended Koç University, Acca, California State University, Los Angeles, Khazar University.
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