Commercial Finance Manager
MAFA
Total des années d'expérience :29 years, 7 Mois
Revenue Forecast and monitory.
Provide financial and analytic support to Management team.
Business Development and Retail management Support.
Preparation of Feasibility for new stores, refit and existing stores.
Monitor and ensure proper processing of Month-end, Year-end and Audit Closing entries.
Monitor and review Accounts Payable Invoice entries, inventory recordings and payments
Develop and run the planning, budgeting and forecasting processes.
Ensure the financial control of the cost base, liaising with budgetary control as appropriate.
Assess and monitor the capital and financial systems requirements, making recommendations as appropriate.
Review and redefine systems & procedures as per the industry standards.
Prepare business continuity plans with a scope of expansion.
Designed internal control systems and facilitating effective decision-making process.
Oversee Treasury, Bank and Cash-flow Management function.
Provide financial and analytic analysis to the Management and Board with recommendations for appropriate decision to take
Key Achievements
➢ Distinction of bringing the company from loss of AED 110 million in 2011 to the profit of AED 65 million in 2015 through effective monitoring of cash and treasury management functions.
➢ Won big applauds from the senior management for curtailing interest rate of various banks from 9.5% to 3.7% overall and one particular upto 2.95%.
➢ Credited for handling the project development cost of AED 875 million that was completed in 2012.
➢ Commended for arranging revolving finance/over draft of 75 million against warehousing of PDC cheques.
➢ Succeeded in obtaining marketing term for AED 1.1 billion project finance from 2 banks.
Responsibilities
• Currently involved in new project feasibility and planning for the AED 2.6 billion project with built up area of 3.8 million sqft.
• Exercised solutions oriented approach in reducing year-end external audit time, significantly and resolving most of the internal audit and assurance issues.
• Employed strong leadership skills in handling 3 stars furnish hotel apartments and two joint ventures and consolidation including external financial audit.
• Solely responsible for finalization of monthly, quarterly and annual MIS reports and financial statements under the guidelines of SOX, IAS. IFRS and ESCA.
• Nominated for representing the company at Board of Director and Audit Committee meetings; prepare and present BOD agenda items for consideration by the Board; serve as advisor to the General Manager and Board for the financial planning and administration of the company and Joint Ventures.
• Initiate action to strategically plan & implement the systems, policies & procedures to initiate and control finances, projected towards organizational goals to maximize profitability and generate revenue.
• Establish and maintain mutually beneficial relationships with banks, financial institutes and major stakeholders for the benefit of the company.
• Attained strong track record in the preparation of budget, feasibilities and projections for new projects, pre and post project capitalization reviews while ensuring financial control of the cost base.
• Direct all aspects of Treasury, Bank and Cash-flow Management functions.
• Responsibilities include review and finalization of legal agreements with vendors, suppliers, resellers, property buyers and tenants.
Business Development and Retail management Support.
Provide financial and analytic support to Management team.
Monitor and ensure proper processing of Month-end, Year-end and Audit Closing entries.
Monitor and review Accounts Payable Invoice entries, inventory recordings and payments
Monitor and ensure proper Tax calculation and on timely payment.
Monitor and ensure accounts receivable aging and credit control.
Monitor Finalization of Accounts with co-ordination of External auditors and Tax consultants.
Develop and run the planning, budgeting and forecasting processes.
Ensure the financial control of the cost base, liaising with budgetary control as appropriate.
Assess and monitor the capital and financial systems requirements, making recommendations as appropriate.
Review and redefine systems & procedures as per the industry standards.
Prepare business continuity plans with a scope of expansion.
Designed internal control systems and facilitating effective decision-making process.
Oversea Treasury, Bank and Cash-flow Management function.
Monitor and ensure timely payment of Vendor and Supplier payments.
Vendor relationship management.
Review and monitor contractors contracts related to operation and development Oracle Financial, CRM and Property Manager (Leasing) Re-implementation as per business.
Automation of leasing process through Oracle along with document management system.
Rental feasibility and rental pricing based on the current and future market trends.
Provide financial and analytic support to Management team.
Monitor and ensure proper processing of Month-end, Year-end and Audit Closing entries.
Prepare and control Opex and Capex Budget for Development, Operation and Management.
Preparation and Finalization of Accounts, coordinate with internal, External and Government auditors for Operation and development P&L and B.S.
MIS reporting on weekly, monthly & yearly basis with variance analysis along with comments and recommendations.
Monitor, control and manage the books of accounts to ensure completeness and accuracy.
Ensures that all payments due to the company are fully documented and supported by LPOs, Cheques/Bank Guarantee or the credit approval and are followed up, collected and paid on due date to ensure that the company does not suffer any financial loss.
Monitor functional area performance results for cost saving and improvement initiatives, including capital investments and payback to meet the objective of optimizing operational costs and achieving revenue budgets.
To review lease summary and ensure all relevant clauses of the lease are as per standard.
To ensure any changes/deletions/amendments to a lease are appropriately approved and updated.
Rental feasibility and rental pricing based on the current and future market trends.
Make sure to optimize the revenue from the Asset.
Provide technical and financial support to Leasing and Property Management team.
To ensure that rent invoices are taken from the system on a timely basis and to ensure that they are issued/delivered to the tenant.
To book, manage and control the lease income for Retail, Residential & commercial.
Prepare monthly sales (Retail Tenants) summary with detailed explanation of variances.
Be a liaison between Tenants and the Finance and Lease Admin Department.
To verify the income from the lease document and to ensure all the conditions are met.
At every month end review the income forecasting, budgeting and actual results and variance analysis.
Verify and review all the temporary, storage, penalty or other income on a monthly basis.
Review chiller invoices issued to tenants, ensure delivery and follow up on unresolved issues, delayed payments, bad debts.
Review all specialty income is booked in the correct acct code, on time and is complete.
Review all account reconciliation and integrity checks to ensure security and correctness of income on SAP and co-ordinate with SAP-IT for queries.
Collect additional info from the tenant which is needed in accordance with the lease and book it in the PMS e.g. sales info, insurance and trade license info, and other disclosures.
Preparing Budgeting including preparation of tenant wise income and lease information.
Prepares a monthly Vacancy report with reasons.
Setting up procedures for the assets becoming operational including Shopping Mall, Hotels, and Residential and Commercial properties.
Key responsibilities:
Financial Systems and Operating Policies & Procedures Development and implementation.
Real Estate Subsidiary - Emaar Property Services (Hamptons).
Leasing of Residential Units, pre and post leasing maintenance, lease management through Oracle Leasing module, Property management for the property owners and Tenants.
Increase revenue by increasing residential units from 453 villas to 1400 residential units.
Introduce & manage In-House Property management of 1400 residential units.
Retail and Commercial Leasing Department.
Initiate and implement Oracle Financial & Leasing Module in Retail and commercial Leasing.
Set-up complete financial and operational frame work for Various Town Centers, Gold & diamond Park and The Dubai Mall.
Leisure Department.
- Complete set-up of financial and operational frame work for Arabian Ranches Polo Club, Dubai Marina Yacht Club, Golf Courses (Montgomery & Arabian Ranches) and Club Haya.
- Implementation and integration of Club-On with Oracle Financial.
- Pricing of the product and services for Leisure Clubs.
Inter-Company.
- Inter-linking of the subsidiary with Head office finance department.
- Monitoring and adherence of inter-company accounting practice in line with management objectives and as per IAS standards.
- Handling of 700 million fund portfolio for Inter-company rotating loan facility.
Fixed Asset Management.
- Handled company assets worth AED 450 million.
- Processing and preparing monthly schedules of Fixed Assets.
Financial and Management Accounting including Fixed Asset Accounting, Inter-Company Accounting, Project Accounting, Budgeting, Monthly Management Reports, P&L reports, month-end closings, revenue recognition and bank reconciliation
Preparing accounts till finalization, coordination with auditors, payroll administration, L/C documentation-negotiations, generating MIS reports on weekly, monthly & yearly basis.
Monitoring Payables to foreign and local creditors including vendors, rents, insurance and freight, etc, handling computerized accounting entries and taking care of office inventories.
Responsible for 12 sub-franchisee in MENA Region for order processing, business growth
Liaison with foreign vendors, sub agents in Gulf and Middle East Countries on behalf of Group.
Conversion of Manual Accounting to Computerized Accounting system with interface to the Point of Sale at various Store locations.
Preparation of P&L as per Income Tax and Company Act requirements.
Reconciliation of Bank Statements, G/L, A/R and A/P accounts.
Preparation & Calculation of Income and Wealth Tax based on theIndividual, Rop and company as per the income bracket specified by the authority from time to time.
Preparation of Income Tax and Wealth Tax statements for submission.
Preparation Income Tax and Wealth Tax writtens along with challans.
Internship, Aug 1997 To Sept 1997, Muslim Commercial Bank - Foreign Trade Branch.