Chief Finanical Officer
Dubai Mercantile Exchange
The Dubai Mercantile Exchange is an Energy futures exchange that launched the first physically backed Middle eastern sour crude futures contract.The exchange began its operations on June 1, 2007 and has the Chicago Mercantile Exchange, Dubai Holding and the Oman government as its shareholders.Responsibilities
Oversee the finance and treasury functions of the Company, while directly reporting to the CEO.Implementation and development of a finance department from the ground up.Monthly financial reporting to the three separate shareholders and quarterly finance presentations to the audit committee and full board of directors.Preparation of annual budgets and five year forecasts along with involvement with the overall strategic plan and direction of the Company.Achievements
·Initial implementation of an enterprise-wide risk management program with a resulting risk register and a basis for the outsourcing of the internal audit function.
·Selection and implementation of an ERP system that interfaced with the clearing and settlement system, and included HR, payroll and fixed assets modules.The appropriate selection of the ERP system allowed for a quick and timely implementation of a system that is more than adequate for the needs of the organization.
·Preparation and implementation of policies and procedures, from the ground up, surrounding the various accounting and finance functions, utilizing best practices and catered towards the specific needs of a regulated exchange.
·Managed the financial due diligence process in regards to strategic investors taking a 16.5% equity stake in the Company.
·Numerous presentations to the Board of Directors including alternative shareholding structures of the Company, financial and capital ratio requirements in relation to capital calls and the capital structure of the Company, potential cost cutting initiatives, risk and corporate governance matters, etc.