A seasoned C-level finance executive with over 20 years of experience across the Middle East, UK, and Pakistan in diverse roles across retail, FMCG, hypermarkets, warehousing, logistics, and petrochemicals.Proven success records leading financial operations of renowned start-ups such as Costco Wholesale UK, Aura & Leem Fashion in the Middle East, and Makro/Metro stores in Pakistan.Expert in optimizing financial processes to enhance efficiency, drive profitability, and sustainable growth. Accomplished team leader, respected for his abilities to mentor and coach the accounting & finance team, warehousing & logistic staff at all levels on best practices, systems, and procedures.A trusted partner of senior management on strategic planning, revenue enhancement, profit forecasting, and performance analytics. Combines a customer-centric approach with commercial finance acumen to maximize revenue, profitability, and shareholder value.Career Snapshot:In Saudi Arabia, from 2011 to 2021, I progressed from Finance Manager to CFO at the innovative start-up 'Aura Homes & Leem Fashion,' collaborating closely with the GM-Operations, CEO/Founder, key management team, and international consultants to establish financial operations from scratch to multi-brand and multi-country status. Additionally, I served as Manager of Internal Audit and Head of Finance for a well-established Saudi Co. 'KFB Group’ for two years.My mid-career opportunity as ALC Manager at Makro/Metro hyperstores further solidified my commercial finance expertise in retail operations, encompassing planning and budgeting, pricing strategy, inventory management, administration and logistics, and point-of-sale operations.My professional journey began after ACA (inter) with ICAP, with roles in Internal Auditing at renowned organizations like UPS for Pk-operations, and Costco Wholesale UK Limited in the UK, followed by a Management Accountant role in London. This foundation of five years equipped me with strong skills in accounting, finance, auditing, and best internal control practices.I am currently seeking an impactful role as Head of Finance, CFO, Group Finance Manager, Finance Manager, or Financial Controller within a forward-thinking organization. I am passionate about leveraging my extensive expertise to drive financial excellence and support strategic decision-making in dynamic environments. Let’s connect to explore exciting opportunities together.
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Head Finance/CfoInternational Petrochemicals (Pvt) Limited. Jun 2022 - Sep 2024LahoreIPC group consists of four companies (FFC-Hattar, PAChem-Global, SCI-Multan, and IPC-Lahore) engaged in the processing and trading petrochemical products in Pakistan, the Middle East, and Europe.KEY ACCOMPLISHMENTS: • Spearheaded strategic financial planning by utilizing advanced analysis to drive decision-making, resulting in a 15% reduction in operating costs and an 11% increase in net profitability across three… Show more IPC group consists of four companies (FFC-Hattar, PAChem-Global, SCI-Multan, and IPC-Lahore) engaged in the processing and trading petrochemical products in Pakistan, the Middle East, and Europe.KEY ACCOMPLISHMENTS: • Spearheaded strategic financial planning by utilizing advanced analysis to drive decision-making, resulting in a 15% reduction in operating costs and an 11% increase in net profitability across three manufacturing units.• Formalized the annual business planning process, integrating cash forecasts and budget versus actual controls.• Initiated a diversified investment portfolio including rental properties and capital markets, effectively mitigating interest rate and foreign exchange risks aimed at rising inflation and PKR devaluation• Lead Odoo ERP Implementation in all group companies including HO. Show less -
Finance Manager To Chief Financial OfficerAuraliving Jan 2011 - Dec 2021Al-Riyadh Governorate, Saudi ArabiaJoined Aura during its incubation stage and played a pivotal role in establishing financial operations from scratch, driving the brand's expansion into multiple countries and diversification into multi-brands.KEY ACCOMPLISHMENTS• Launched and established financial operations from the ground up during the incubation phase, successfully scaling the business to multi-country and multi-brand status within the GCC region. • Built and managed a finance department of 12 skilled… Show more Joined Aura during its incubation stage and played a pivotal role in establishing financial operations from scratch, driving the brand's expansion into multiple countries and diversification into multi-brands.KEY ACCOMPLISHMENTS• Launched and established financial operations from the ground up during the incubation phase, successfully scaling the business to multi-country and multi-brand status within the GCC region. • Built and managed a finance department of 12 skilled professionals, driving compliance with business policies and achieving all assigned objectives through effective team leadership. • Supervised monthly financial reporting and KPI analysis for KSA and GCC, ensuring compliance and accuracy• Conducted business planning, financial modeling, and cash forecasting for liquidity management• Develop and execute financial strategies that align with the growth and profitability goals of Aura & Leem• Lead the budgeting process (KSA, and the rest of GCC), financial forecasts & analysis for business units• Annual Audits Compliance for years 2011 to 2021, including VAT implementation (UAE & KSA group companies)• Yearly bank credit facility renewals by fulfilling requirements, making sure bank covenants are adhered• Managed an Open-to-Buy budget of SR 100 million in collaboration with the merchandising head, optimizing inventory levels and driving revenue growth.• Developed a robust e-commerce business model and conducted break-even analyses, leading to informed investment appraisals for new projects that supported strategic growth initiatives.• Enhanced liquidity by converting supplier TT payments to Letters of Credit (LC), successfully freeing up SR 50 million in cash flow annually, strengthening financial stability. • Reduced the cash conversion cycle from 195 days to 110 days by negotiating improved terms with suppliers and optimizing inventory management, significantly enhancing operational efficiency. Show less -
Manager Internal Audit, And Head Of FinanceKfb Holding Group Jan 2009 - Dec 2010Al-Riyadh Governorate, Saudi ArabiaJoined KFB Group of companies as Manager Internal Audit, responsible for internal audit and internal control procedure (design & implementation) in 8 companies of the KFB group in KSA. Promoted as Head of Finance in one of the divisions of KFB group "Power Telecom and Technologies.KEY ACCOMPLISHMENTS• Achieved cost reductions in project operating costs to minimize cost overruns resulting in an 8% increase in the net profitability of STC remote site projects.• Designed Internal… Show more Joined KFB Group of companies as Manager Internal Audit, responsible for internal audit and internal control procedure (design & implementation) in 8 companies of the KFB group in KSA. Promoted as Head of Finance in one of the divisions of KFB group "Power Telecom and Technologies.KEY ACCOMPLISHMENTS• Achieved cost reductions in project operating costs to minimize cost overruns resulting in an 8% increase in the net profitability of STC remote site projects.• Designed Internal Control Procedures/SOPs. Introduced an authority matrix helped reduce costs by 22%.• Implemented strict credit control, updated invoicing procedure (progress billing) and restructured collection process, recovered SR 55 million old/bad debt from the KSA market.• Arranged Bank Guarantees and bid Bonds, including obtaining project finance from local Saudi Banks Show less -
Team Leader Management ReportingTusdec Jan 2008 - Jan 2009LahoreThe Technology Upgradation and Skill Development Company (TUSDEC) was founded in 2005 as a Private-Public Partnership under the Ministry of Industries and Production, Government of Pakistan.KEY ACCOMPLISHMENTS:•Leveraged my skills and experience gained from working with multinationals in Pakistan and the UK to develop a robust management reporting system under the guidelines of the Finance Director's vision & leadership.•Selected as the project leader for the implementation… Show more The Technology Upgradation and Skill Development Company (TUSDEC) was founded in 2005 as a Private-Public Partnership under the Ministry of Industries and Production, Government of Pakistan.KEY ACCOMPLISHMENTS:•Leveraged my skills and experience gained from working with multinationals in Pakistan and the UK to develop a robust management reporting system under the guidelines of the Finance Director's vision & leadership.•Selected as the project leader for the implementation of the open-source ERP system 'NolaPro' at TUSDEC, collaborating with a software house based in Lahore. Show less -
Administration And Logistic Center ManagerMetro/Makro Cash And Carry Feb 2006 - Jan 2008Lahore, PakistanMoved to Pakistan from London (UK) to join Makro as they launched Makro Wholesales operations in the country. KEY ACCOMPLISHMENTS: •Served as the key operational finance leader for the successful opening of Makro wholesale centres in Karachi and Lahore. Trained in Makro Business System (MBS), an Oracle-based ERP•Recruited and trained 21 ALC personnel at Makro Lahore, focusing on internal control procedures.•As ALC Manager responsible for all store financial operations… Show more Moved to Pakistan from London (UK) to join Makro as they launched Makro Wholesales operations in the country. KEY ACCOMPLISHMENTS: •Served as the key operational finance leader for the successful opening of Makro wholesale centres in Karachi and Lahore. Trained in Makro Business System (MBS), an Oracle-based ERP•Recruited and trained 21 ALC personnel at Makro Lahore, focusing on internal control procedures.•As ALC Manager responsible for all store financial operations from stock ordering to point of sales (POS), inventory management, daily price & signage updates, and implementation of discounts and promotions.•Controlled all stock orders based on the Order Proposal List (OPL), prepared shipping documents, and developed relationships with freight forwards and shipping lines•Responsible for store budgets (CAPEX & Opex) and budgetary control•Responsible for maintaining store-level profitability and KPI reporting to HO management •ALC Internal Auditor team management to conduct Weekly/monthly and yearly internal stock takes control of stock loss, shrinkage and theft. •Weekly MIS reporting to HO Finance for store KPIs including monthly store Profit & Loss Summary Show less -
Management AccountantHenry Bertrand (Maison Henry Bertrand England Ltd) Dec 2003 - Feb 2006London, United KingdomHenry Bertrand Silk Fabrics is the leading manufacturer, exporter and distributor of woven silk and silk blends in the United Kingdom. Achievements and responsibilities: •Responsible for day to day running of the finance department of the London Head Office reporting directly to the Finance Manager•Cash management (Performa, French, USA customer, Invoice Finance (UK & Export Sales)•Management of control accounts (payable & receivable) including payments in multiple… Show more Henry Bertrand Silk Fabrics is the leading manufacturer, exporter and distributor of woven silk and silk blends in the United Kingdom. Achievements and responsibilities: •Responsible for day to day running of the finance department of the London Head Office reporting directly to the Finance Manager•Cash management (Performa, French, USA customer, Invoice Finance (UK & Export Sales)•Management of control accounts (payable & receivable) including payments in multiple currencies to ensure optimum utilization of foreign currency accounts•Monthly Sales Leger, Purchase Ledger and General Ledger closing including accruals and prepayments postings and production of Management Accounts by the 7th of every month Show less -
Internal AuditorCostco Wholesale Uk Apr 2002 - Dec 2003I was selected as an internal auditor when Costco WholeSales UK Limited opened its new wholesale centre in Reading, Berkshire, UK.Achievements and responsibilities: •Acquired 4 weeks of training on company internal control procedures and audit program in London Watford Head Office to implement policies and procedures in new stores.•Plan, organize and execute internal audit including compliance with Internal Control Procedures•Supervised year-end inventory audit with a… Show more I was selected as an internal auditor when Costco WholeSales UK Limited opened its new wholesale centre in Reading, Berkshire, UK.Achievements and responsibilities: •Acquired 4 weeks of training on company internal control procedures and audit program in London Watford Head Office to implement policies and procedures in new stores.•Plan, organize and execute internal audit including compliance with Internal Control Procedures•Supervised year-end inventory audit with a stock loss of 9% (which is 11% less than the industry average)•Resolve sales variances, stock receiving, stock loss, sales refund and vendor returns•Responsible for KPI reporting i.e. negative stock, fast-moving, and slow-moving, stock levels of all departments affecting profit margins, and stock shrinkage. Show less -
Internal AuditorUps Feb 2000 - Dec 2001Lahore, Punjab, PakistanAfter my CA Articleship, I started 1st Job as an Internal Auditor with UPS Pakistan and was engaged in the internal audit of all five UPS branches in the Punjab region.KEY ACCOMPLISHMENTS:.Obtain, analyse and evaluate accounting records, previous reports, data, flowcharts and report control weaknesses in the system..Identify loopholes and recommend risk aversion measures and cost savings. Responsible for Quality Audits by ISO 9001 guidelines, received in-house training… Show more After my CA Articleship, I started 1st Job as an Internal Auditor with UPS Pakistan and was engaged in the internal audit of all five UPS branches in the Punjab region.KEY ACCOMPLISHMENTS:.Obtain, analyse and evaluate accounting records, previous reports, data, flowcharts and report control weaknesses in the system..Identify loopholes and recommend risk aversion measures and cost savings. Responsible for Quality Audits by ISO 9001 guidelines, received in-house training on ISO 9001. Conduct follow-up audits to monitor management’s interventions. Worked closely with the Internal Audit Manager to prepare internal control procedures and SOPs for Air Freight, Sea Freight & Consolidation shipments and related operations.. Received certificate of appreciation from higher management for the successful completion of ISO 9001 external audit for years 2000 and 2001 Show less -
Aca-Icap-ArticleshipViqar A. Khan & Co-Chartered Accountants Jan 1997 - Dec 2000Lahore, PakistanCompleted Internship in accordance with Institute of Chartered Accountants of Pakistan Bay laws 1961Worked in Audit and Management Consultancy as trainee student, semi-senior and senior auditor and conducted, supervised and finalized audits of manufacturing, service and retail sectors
Majid Ali Education Details
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Accounting And Business/Management -
Accounting And Business/Management
Frequently Asked Questions about Majid Ali
What is Majid Ali's role at the current company?
Majid Ali's current role is Ex-Head Finance IPC Group | Ex-CFO Aura & Leem | Ex-Manager Internal Audit KFB Group | Ex-ALC Manager Metro/Makro.
What schools did Majid Ali attend?
Majid Ali attended The Institute Of Chartered Accountants Of Pakistan, Association Of Chartered Certified Accountants (Acca), University Of The Punjab.
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