CEO Insights Magazine

Having a forward-thinking mindset, coupled with deep industry knowledge, empowers Chief Financial Officers (CFOs) to excel in their roles by identifying innovative opportunities for growth and navigating complex financial landscapes with remarkable precision. By staying abreast of emerging trends and market dynamics, CFOs can anticipate shifts and proactively position their organizations for success. Their deep industry knowledge enables them to understand the intricacies of the sector and identify untapped potential. With this invaluable understanding, CFOs like Dr. Samer H. Alssabagh can effectively utilize financial data and analysis to drive strategic decision-making, capitalize on expansion opportunities, and optimize overall financial performance.

Dr. Samer H. Alssabagh stands as a truly unique Chief Financial Officer, distinguished by his exceptional qualities and contributions. His distinctive approach to financial leadership stems from a combination of expertise, strategic acumen, and steadfast commitment to excellence. His distinctive quality lies in his seamless integration of financial expertise with a profound comprehension of broader business dynamics. Below is an excerpt of Dr. Samer H. Alssabagh’s exclusive interaction with CEO Insights ASIA magazine.

Tell us about your leadership approach. Also, what has been your success mantra in the journey so far?

I firmly embrace the philosophy of perpetual progress and the cultivation of competence. Since I joined Falcon Group, I have devoted my efforts to fostering growth within my team, recognizing that while skills can be nurtured, it is the fundamental mindset that truly distinguishes exceptional personnel. Consequently, my strategy and subsequent resolution revolve around the implementation of comprehensive, regular capacity-building sessions. These sessions, conducted weekly, equip my team with the necessary proficiencies encompassing all facets of communication protocols. I hold a steadfast conviction that for any organization to endure in the long run and attain peak performance, rigorous adherence to hierarchical structures, policies, procedures, and seamless daily operations is paramount.

How would you define Falcon Group as an organization and its position in the market?

Within the formidable Falcon Group, an amalgamation of nine distinguished companies thrives. Most prominently, Empire World, the esteemed parent company, reigns as a preeminent real estate developer, hailed as a beacon of progress throughout Iraq. Since 2007, we have been erecting thriving urban landscapes in the northern regions, erecting an impressive array of 88 towers and thousands of residential and commercial units. Accompanying this flagship enterprise, the group's subsidiaries deliver a myriad of invaluable services, encompassing security, power supply, oil and gas expertise, agricultural investments, general trading, and the import-export of energy. In our latest venture, Falcon for Technology Consulting has emerged, catering to cutting-edge technological solutions, while our financial consultancy division dutifully assists the group's diverse companies in Iraq.

What are the factors you look at when determining the profitability of an investment for the company?

In our group, every new project embarks on a journey paved with meticulous scrutiny, commencing with a comprehensive visibility study that encompasses every facet. We delve deep into the realm of key performance indicators, forging a roadmap and an all-encompassing business plan should the decision to proceed be made. Our reliance on ERP solutions, steadfast and unyielding, permeates our daily business operations, granting unwavering financial acumen. Powered by the formidable SAP ERP system, we orchestrate seamless implementation, ensuring each step and phase adheres to the blueprint. With timeliness as our ally, we ardently seize overdue actions, propelling us towards the culmination of projects within the agreed-upon timeframe, surpassing expectations with unwavering precision.

Where do you see yourself headed in the upcoming years? What is your future roadmap?

In the forthcoming five years, our strategic focus is poised to yield remarkable outcomes. Foremost, we are resolute in our commitment to the flourishing realm of real estate development in Iraq - a fertile market teeming with untapped potential. Bolstered by a comprehensive blueprint, we have meticulously devised multifaceted plans to advance our endeavors in this domain. Concurrently, we embark on a transformative journey in the technology industry, buoyed by strategic joint ventures. Our collaboration with SAP in Germany stands testament to our ambitions, while imminent negotiations with Oracle in the United States herald our expanding presence as a technology and service provider. Guided by a solid vision, these ventures illuminate the path that unfolds before us in the next five years.

What is your advice to budding leaders taking a career path in finance?

Drawing on my extensive experience and knowledge, I offer three invaluable pieces of advice for the next leader of Falcon Group, and indeed any corporate aspiring to greater heights. Firstly, it is imperative to embrace technology, as the future belongs to those who do. By integrating technology into your business operations, you can achieve exceptional performance and remain competitive in a rapidly changing market. Secondly, stay abreast of the latest developments in finance, specifically International Financial Reporting Standards (IFRS). Regular updates will ensure transparency in your financial statements, and provide a clear understanding of your financial position, allowing for effective planning. Finally, implement robust governance practices, adhering to transparency and corporate rules. By following these measures, your business will stay on the right track, empowered to navigate the future with confidence.

Dr. Samer H. Alssabagh, Chief Financial Officer, Falcon Group

Dr. Samer is an experienced certified public accountant (CPA) with a Ph.D. in auditing from Damascus University and extensive experience in auditing, accounting, digital transformation, ERP solution, and financial consulting. In his professional journey so far, Dr. Alssabagh has been part of various prominent companies such as Tadmor, PwC, and Tishk International University, and is currently an Executive Board Member and Chief Financial Officer at Falcon Group.