Chief Finance Officer
Mazoon Dairy Company SAOC
مجموع سنوات الخبرة :27 years, 5 أشهر
Mazoon Dairy Company SAOC established in February 2015, is a private equity initiative supported by the food security policy of the Government of Oman. It embarks on a green field dairy project, a flagship dairy company in Sultanate of Oman employing the state of the art technology, go online by mid 2017 with an investment over RO 100M.
Being a key member of the project, my current role is to Head the Finance, play an integral role in taking the company forward right from the feasibility stage to project financing, strategic plans, project documentations, Corporate Governance, team building, ERP and other project related activities. Support the project leader to ensure in achieving efficiencies during each milestone and effective completion within the time line.
• Preparation & Presentation of company’s financial performance to the board of Directors.
• Report to the audit committee and board members on progress against the agreed objectives.
• Overseeing all aspects of financial control in the business.
• Preparation of income and expense forecast to senior management.
• Prepare annual budgets, annual business plan based on the business performance.
• Analysis of revenue opportunities within the company.
• Designing and monitoring product, processing plant, dairy farm, agricultural farms, sales and distribution costing. Overseeing live stock valuation.
• Monitor the product costing, route vise profitability analysis and ensure costs are optimized to improve the Gross Margin.
• Leading the development and implementation of accounting policies, systems, procedures and guidelines to ensure smooth cash flow, streamline budgets and establish stringent procurement and expense guidelines.
• Directing all financial accounting activities pertaining to accounts receivable/payables management, cash management, bank relationships and foreign currency transactions.
• Maintain day today financial control within budget heads agreed by the Board.
• Analyzing key finance performance indicators/trends such as cross division comparisons inclusive of establishing financial benchmarks of acceptable performance and comparison of actual results to budget as well as initiating corrective actions.
• Prepare and review detailed budgets for approval by the Board in concurrence with the business development.
• Monitor the Government Policies on all agricultural subsidies and ensure the company enjoys all such benefits.
• Complete responsibility of Annual and Provisional Tax returns as per Oman Tax Law.
• Streamlining the preparation of financial reports/statements that summarize and forecast the company’s financial position, such as trial balance, balance sheet, profit/ loss statements, budget report and cost report.
• Keeping abreast of all pertinent legislations, rules, regulations and court decisions that may relate to organization’s financial affairs as per Omani Law.
• Responsible for the board meeting and CMA legal requirements.
• Responsible for preparation and reporting of MIS pack to the corporate office, auditors and GM.
• Handle internal and external auditors of the company.
• Leading the development and implementation of accounting policies, systems, procedures and guidelines to ensure smooth cash flow, streamline budgets and establish stringent procurement and expense guidelines.
• Responsible for long term and short term pricing decisions.
• Monitoring of costing for farm, plant and sales departments.
• Directing all financial accounting activities pertaining to accounts receivable/payables management, cash management, bank relationships and foreign currency transactions.
• Analyzing key finance performance indicators/trends such as cross division comparisons inclusive of establishing financial benchmarks of acceptable performance and comparison of actual results to budget as well as initiating corrective actions.
• Designing company’s fiscal-year budget/guidelines to optimize cash flows, managing working capital requirements and re-organizing processes for optimal utilization of financial structures for the company.
• Streamlining the preparation of financial reports/statements that summarize and forecast the company’s financial position, such as trial balance, balance sheet, profit/ loss statements, budget report and cost report.
• Keeping abreast of all pertinent legislations, rules, regulations and court decisions that may relate to organization’s financial affairs.
• Coaching, mentoring and training a competent team of finance professionals, accountants, cashier, store manager and store keepers to enrich their competencies for achieving business goals.
• Manage livestock valuation and monitor feed intakes of the animals/production, whilst maintaining compliance with organizational policies/procedures.
• Monitor and review factory costing, sales and distribution and farm.
• Managed and oversaw all accounting/ financial disciplines, including financial budgeting/forecasting and management reporting, in alignment with the company’s operations.
• Handled all accounting procedures pertaining to posting of journal entries in BAAN ERP system, maintaining general ledgers, reviewing flash reports and monthly closing of books, to ensure compliance with company procedures/international accounting standards.
• Supervised all accounts payable, receivable, payroll and petty cash transactions and posted them to appropriate ledgers, to ascertain efficient record keeping.
• Devised and examined financial/income statements, trial balance, balance sheets, internal audit reports, cash flow projections and quarterly profit/loss and balance sheet, in compliance with organizational policies and procedures.
• Oversaw livestock valuation and monitored feed intakes of the animals/production, whilst maintaining compliance with organizational policies/procedures.
• Monitored and managed banking relationships and reconciled bank statements on periodic basis and provided accurate reports to the upper management.
• Interacted with internal/external auditors and provided them accurate information of company’s financial status to assure smooth execution of auditing process.
• Scrutinized day to day accounting operations, identified and resolved accounting discrepancies as well as ascertained that all policies and procedures are aligned with the organizational goals.
Planned, organized and evaluated all accounting procedures/policies to ensure transactions are efficient/ effective, accounting is accurate/complete.
• Collated and analyzed financial information to prepare entries to accounts, such as general ledger accounts, and documented business transactions.
• Monitored accounting tasks related to petty cash, payroll, stock management and prepayments, ascertained accuracy, speed and efficiency, oversaw collection of all outstanding receipts.
• Formulated budgets, performed variance analysis and compared actual results with the defined budgets while ensuring affirmation with business strategies. Responded to queries from external and internal auditors pertaining to accounting process/procedures.
• Drafted reconciliation statements of bank and suppliers accounts to identify accounting discrepancies and provided periodic reports to the Finance Manager.
• Maintained accurate records of all fixed assets within the organization, calculated depreciation and updating the same with additions during the year
SP Jain is one of the worlds top ranked business school
Professional cost and strategic finance qualification
Other Trainings: • Certificate In Financial Modeling Using Excel, XLRI School of Business & HR, India. • Baan ERP Software. • Personal Development Skills, 2002. • MS Office, Tally, Omicron, Sage & Other ERP Based Packages.