Samir Derbas (MBA – MSc – CMA – CIPA)
Group Chief Financial Officer (CFO)
E-mail: smderbas@gmail.com, Mobile: +966 50 1177766
www.linkedin.com/in/sderbas
A transformational leader and decisive CFO with a track record of strategically optimizing the performance of the organization. Proven professional exposure to the real estate & capital markets in the GCC, MENA, and Europe. A high achiever and a seasoned strategist & business partner who can drive the company forward.
Core Competencies
· Corporate Transformation • Business Relationships Builder
· Corporate Workout & Financial Restructuring • IPO Preparation & Governance
· Change Management & Restructuring • Real Estate Investment & Development
· Strategic Planning • Portfolio Optimization
· Islamic Finance • ERP & MIS Implementation
· Cost Optimization • Risk Management
Professional Experience
Saudi Airline Real Estate Development Company Aug 2015 – Present
Chief Financial Officer (CFO)
Saudi Airlines Real Estate Development Company (SARED) is the real estate arm of Saudi Airlines Corporation. It was established in 2008. Managing a property portfolio of SR 8 billion spread over 15 countries. Major achievements include:
· Developed real estate portfolio optimization strategy
· Developed investment, development, disposal and exit strategies per assets class
· Redeveloped Saudia City Compound master plan by consulting with reputable real estate consultants
· Built new pricing strategy for Saudia City Compound resulting in retaining current tenants and increase occupancy by 20%
· Optimized property space management by applying international occupancy rates, resulting in increasing office space efficiency by 100%
· Built a new corporate business model that aligns with the HoldingCo objectives
· Located process bottlenecks, and improved leasing contracts closure time by 25%
· Enhanced collection by 84% by building new alert and follow-up procedures
· Automated cash collection reconciliation by developing new RMS with banks
· Built new corporate governance model, drafted authority matrix and concluded SLAs with SBUs & related parties
· Created policies and procedures
· Defined and implemented a PMO roadmap and presented the company in the Holding Company Transformation Program which is part of Saudia 2020 Transformation Initiative.
· Re-implemented SAP FICO & Real Estate Cockpit to tailor to the business requirements
· Rectified the financial records for the previous 7 years and prepared audited financial reports
· Developed corporate and departmental KPIs
· Enhanced the internal control environment by applying the COSO framework
· Ensuring both upper and bottom lines are growing by increasing the unit’s occupancy rate and stimulating new ancillary revenues
· Ensured compliance with prevailing laws and regulations
· Established new procedures to ensure proper cash management, working capital, CAPEX, and liquidity while maximizing profitability
Tebyan Real Estate Development (Dubai) Nov 2014 – Aug 2015
Chief Financial Officer
Tebyan Real Estate Development is a prestigious Dubai-based development company with an aggressive growth vision. Tebyan is a real estate arm of major Saudi and UK investors, which has developed unique developments in Dubai; most importantly is Sparkle Towers in Dubai Marina. It was established in 2006 as a Sharia Compliant Real Estate development company. Major achievements include:
§ Established new accounting and investment control procedures
§ Rebuilt the projects’ cash flow models & feasibility studies of for major ongoing investments
§ Implemented a new ERP system (Microsoft Dynamics AX), from system design, requirement analysis to operational excellence
§ Integrated the CRM system with the ERP system resulting in removing double work and increasing efficiency
§ Increased sales by 50% by networking with major brokerages firms and HNW investors
§ Increased the credit facility by 30% by negotiating with banks while securing better covenants
§ Managed Escrow accounts by reconciling the transactions and liaising with banks and Dubai Land Department (DLD)
§ Expanded the network of brokerage firms by secured new agreements with most reputable firms in Dubai
§ Reconciled partners accounts and transactions for the previous 5 years
Diyar Al-Kuwait Real Estate Company (Kuwait) Aug 2006 – Oct 2014
Vice President; Finance
Diyar Al-Kuwait Real Estate Co. is a group of real estate firms spread over the MENA and Europe (Dubai, Qatar, Bahrain, Egypt, KSA, and France). Diyar is the real estate arm of Al-Kharafi Group (One of the biggest investment groups in Kuwait). It is a Sharia Compliant Real Estate Company established with a paid-up capital of USD 71 million. Diyar was incorporated in February 2006 with a long-term vision of building a reputation as a respected and successful institution. Major achievements include:
· Strategically oversaw all financial and fiscal aspects of company’s group; including financial, investment, and strategic planning
· Managed the company’s preparations for public listing (IPO)
· Developed financial management policies and procedures
· Designed and monitored internal control systems and risk management techniques
· Designed and implemented an effective ERP and financial reporting system
· Negotiated projects’ financing deals for the company’s investments while maintaining excellent relationships with major financial institutions in the Gulf & Europe
· Structured projects finance of USD 1 billion value
· Strategically mitigated risk related to sophisticated investment portfolios in GCC & France
· Enhanced profitability by 50% over 2 years’ time by focusing on strategically yielding projects
· Secured corporate finance by 45% of capital with the best debt covenants
First Diyar Real Estate Company (Kuwait, Qatar) Sept 2007 – Dec 2014
Vice Chairman
· Represented Diyar Al-Kuwait as board member and Vice Chairman
· Managed the company’s sole mega investment
· Conducted strategic planning and reviewed feasibility studies and financial modeling
Human Soft Holding Company (Dubai, Abu Dhabi, Doha, Kuwait) June 2005 – Aug 2006
Regional Finance Manager
· Prepared strategic financial plans for 3 business lines within Human Soft Holding (Kuwait, Qatar, Dubai, and Abu Dhabi offices)
· Assessed current and future staffing needs based on organizational goals and budget realities
· Conducted product wise profitability analysis, sensitivity analysis, policies and procedures setting, marketing and inventory planning
QIT (Qatar) Feb 2004 – May 2005
Accounting Manager
· Oversaw financial planning and control
· Performed financial reporting
Islamic International Arab Bank (Jordan) Feb 2000 – Feb 2004
Finance & Investment Officer / Accounting Manager
· Managed the bank’s accounting activities
· Prepared and reviewed credit reports & acted as authorized signatory for the bank
· Prepared branch’s budgets and promoted the bank’s products and services
· Prepared and reviewed feasibility studies, credit & financial analysis, and due diligence
Islamic International Arab Bank (Jordan) Feb 1997 – Dec 2000
Commercial Services’ Officer (Trade Finance Dept. Head)
· Oversaw and supervised Letters of Credit (LCs), Letters of Guarantees (LGs), Inward / Outward Collections, and Bills Departments
· Handled all customer services and inquiries
Munir Sukhtian Company (Jordan) Sept 1996 – Feb 1997
Accountant
· Performed bookkeeping, bank transactions and reconciliations
Education
· Master’s in Real Estates and Property Management 2016
The University of Salford– UK
· MBA (Master of Business Administration) 2001
Yarmouk University
· Bachelor’s Degree in accounting 1996
Yarmouk University
Professional Certifications
· CMA – (Certified Management Accountant) – IMA – USA 2014
· CIPA (Certified Islamic Professional Accountant), AAOIFI 2012
Training
· SAP Real Estate Conference (Hungary; Nov 2017)
· Euromoney Islamic Finance Conference (London; Feb. 2010, 2011, and 2012)
· Structuring Sharia-Based Financial Products (Kuala Lumpur; Malaysia Dec 2011)
· Durham Islamic Finance Summer School (Durham; UK; July 2008)
· Practical Techniques for Structuring and Financing Real Estate – Euro Money (Frankfurt; Germany; Sept 2007)
· Corporate Finance Workouts and Financial Restructuring- Euro Money (London; UK; June 2007)
· Real Estate Investment and Finance According to Islamic Sharia (UAE; Dec 2006)
· Dealing with Stocks at Kuwait Stock Exchange (Kuwait; Nov. 2006)
· Time Management and Meetings Skills for Banking Leaderships (Jordan; Mar 2003)
· Financing Techniques for Small and Medium-size Enterprises (Jordan; Aug 2002)
· The Comprehensive Credit Facility Course, Islamic Finance, Financial Analysis, Credit Analysis (Jordan 2001)
· Auditing & Internal Control (Jul 2000)
· Islamic Finance, Murabaha, Modarabah, Communication Skills (Jordan; 1998 & 1999)