Group General Manager - Finance & Accounts
Liberty Investment Company
Total years of experience :15 years, 7 Months
➢ Reporting to Deputy Chairman.
➢ Analyze operations to identify areas in need of reorganization, downsizing, or elimination, Monitor and direct the implementation of strategic business plans, Define financial & operational strategies aligned to the business needs and appropriately cascaded across all business units.
➢ Participate in key decisions as a member of the executive management team. Supervise Merger / acquisition due diligence and negotiate acquisitions.
➢ Perform data analyses, Synthesize research and develop concise and effective presentations to drive insights and inform recommendations (e.g., financial modeling, cost / profitability analysis) for Stakeholders.
➢ Oversee the company's transaction processing systems and act as the company's single point of accountability for the financial aspects. Report & analyze the MIS to Management and Board of Directors (financial performance, projections and ad hoc special projects).
➢ Identify opportunities for expansion into new products, services and operation areas.
➢ Oversee, review, and adhere to the budgets for each BU and assist in company-wide budgetary planning. Compares sales and profit projections to actual figures and budgeted expenses to actual expenses; makes or oversees any necessary adjustments to future projections and budgets. Review planning process and suggests improvements to current methods.
➢ Prepare short and long-term financial forecasts of financial performance for Business valuation and Market study with internal management and external parties.
➢ Be the face of the organization & act as a representative to Banks & FIs, service providers/customers. Forge and maintain relations of trust with shareholders, partners and external authorities. Negotiate & arrange required Terms / Working capital finance.
➢ Monitor and follow up with Legal team on all ongoing legal cases involving the organization to ensure it complies with all legal and regulatory requirements.
➢ Keep constant awareness of the company’s financial position, monitor daily / monthly cash flow Forecasts, banking liabilities and other financial transactions to ensure availability of funds as needed.
➢ Set up implementation and oversee the company’s finance IT systems including SAP, ERP.
➢ Oversee audit and tax functions, coordinate activities with internal & external auditors.
➢ Develop, implement and maintain accounting and administrative policies and procedures for a wide-ranging set of activities including financial accounting and reporting, employee relations (hiring/terminating policies) and other corporate group SOPs.
➢ Proficiency in all aspects of corporate accounting and all pertinent IFRS & GAAP rules.
➢ Maintain appropriate insurance coverage and manage the company’s insurance program.
➢ Recruit & Retain finance teams, trainings & Development, PDRs, Succession Planning.
Reporting to Chairman & Group CFO, handling over 8 divisions & 22 sub-companies. BBG is Well-established, privately held organization in diversified industries such as Oil & Gas services, manufacturing, recycling, Hotel & Hospitality, health and safety equipment trading, Manpower Supply, Real Estate Rental & maintenance, laundry services, poultry farms etc. spanning operations in the Middle East and Africa over four decades.
WORK SYNOPSIS
➢ Analyze Monthly, Quarterly and Annual financial performance versus budget and last year to ensure Business vertical are performing in line with corporate strategy.
➢ Acting key financial partner to the Board of Directors & key stakeholders on the Group financial planning, Project review, Capital investments, Pricing and contract negotiations.
➢ Lead completion of Periodic accounting & MIS reporting, group consolidation for Annual, Mid-year and Quarterly consolidation across entities
➢ Support for Operations team in Monthly Operations & Financial Review, Operational improvements, periodic forecasting. Providing inputs on Product Costing & pricing, Capacity utilization, Margin analysis, promotions, campaigns, online marketing, stocks levels, stock ageing, and slow-moving items, logistics, warehousing etc.
➢ Oversees and directs all financial accounting activities related to AP, AR and General Ledger.
➢ Project feasibility studies for ongoing and new business ventures, strategic recommendations for commercial decision making through ROI, NPV, ROCE, IRR & Payback period.
➢ Conducted Financial due diligence for business expansion, mergers or acquisitions for investments in sectors like Real Estate, Manufacturing, F & B, Poultry, Oil & Gas, hospitality etc.
➢ Expert in evaluating corporate funding requirements and raising Corporate funding i.e. Term Loans, OD, TR, LC and project related guarantees i.e. BGs, PBGs, ABGs and Bid Bonds to support local & International business investment plans.
➢ Managed Group Central Treasury function, handling Group Cash flow planning & optimal Banking Facility utilization to reduce overall interest cost.
➢ Handling Group’s statutory taxation obligations locally (UAE VAT) & internationally. (Income Tax, TVA, IUTS etc. for Africa). Ensure compliance with VAT regulations.
➢ Conduct and arrange physical stock count of inventories like Waste oil, live stocks, Automobile, Parts, water bottle, hotel accessories etc. at regular interval and reconcile with financial record to control inventory & safeguard financial assets.
➢ Collect, consolidate and reconcile cash forecast inputs from the operating companies to provide and report a rolling cash view for the short, medium and long term forecasts
➢ Lead banking and financial institution relationships; negotiate bank and service fees, implement new technologies, products and services to improve cash cycle and simplify company operations
Hotels, Hospitability Food & Beverages
➢ Monthly financials of commercial hotels over 300 rooms collectively.
➢ Reconcile hotel revenue, VAT & Tourism authority compliance, Analyze Room, F&B, SPA & Rental revenue and other services. F & B Costing and analysis, Annual Budget, Hotel Asset Management, Hotel Opening and Sun System ERP Implementation.
➢ Managing Hotel Finance, Operation issues, Revenue Accounting, Night audit and closer process, Hotel MIS and other reporting, Inventory control, Costing and Pricing, Implementing procedures, Hotel Start up and Hotel Renovation, Setting up F & B Division, Food & Beverage costing and food pricing for menu set up.
With DUAL reporting to Country Manager locally and International Finance Head for monthly reporting and financial control. Jupiter Chemical is 100% subsidiary of India based Pidilite Industries Ltd - Asia’s largest manufacturer of Construction chemicals and Adhesive called Favicol.
WORK SYNOPSIS
➢ Lead financial aspects of strategic plans, operating plans, and other business initiatives across the Division.
➢ Perform Division level finance and operating analyses as appropriate.
➢ Assist with reviewing and evaluating key operational and financial data with plant leaders and, when appropriate, helping to drive root cause analyses and development of corrective action plans to address under performance.
➢ Lead divisional forecasting and budgeting efforts, prepare financial summaries for the Division Head and Corporate staff, and support corporate presentation initiatives.
➢ Lead return on investment analyses, acquisition cases, make-versus-buy analyses, what-if scenarios, feasibility studies and other financial control evaluations across the Division.
➢ Play a lead role with implementing and managing Sales, Inventory, & Operational Planning (SIOP) process.
➢ Assist with driving accountability, monitoring performance, and developing financial improvement initiatives.
➢ Ensure compliance with all applicable Finance policies, internal controls, and laws / regulations across the division.
➢ Perform review and approval duties over applicable finance activities, expenses, and capital expenditures.
➢ Closely monitor accounts receivable and/or accounts payable, staff advances and inter-division activities if occurring across the division.
➢ Lead special analyses and financial initiatives across the Division including M&A support, operational finance portion of acquisition integrations, cross-plant capital investments, product launches, etc.
➢ Lead talent development for all finance team members throughout the division.
➢ Work closely with International Finance Head to develop and implement standard work procedures, templates, and other company-wide tools and procedures.
➢ Other special projects and duties as appropriate.
➢ Analysis of real estate and contracting revenue, Compliance with Escrow law, Project wise allocation of maintenance cost, rental and collection schedules, reconcile accrued revenue, Contract with customer, Compliance with contract clauses, rental schedules, tax invoices for commercial rental, Property Insurance cover, PDCs management etc.
➢ Communication with Master Developer i.e. EMAAR, NAKHEEL, DUBAI PROPERTIES etc.
➢ Negotiation with AMCs supplier for Cost benefit.
➢ Revenue recognition based on IFRS 15.
Commerce graduate