Finance Manager
Rashideen Group
Total years of experience :17 years, 1 month
Rashideen Group of Companies, Dubai, UAE Finance Manager (Reporting to CFO & GM)
Oct. 2021 - Present
Key Deliverables:
• Strategic Business Initiatives: Playing a pivotal role as a senior member of the Management Team, driving forward strategic business initiatives aimed at fostering sustainable growth and consolidation within the organization.
• Financial Reporting and Compliance: Managing month, quarter, and year-end close processes, ensuring adherence to Local IFRS and accuracy in balance sheet reconciliations. Reviewing and preparing monthly financial reports, promptly communicating significant variances and coordinating adjustments as necessary.
• Budgeting and Forecasting: Planning and coordinating annual budgeting and monthly forecasting processes, aligning financial activities with organizational goals.
• Accounting and Financial Management: Oversaw all aspects of accounting operations, encompassing credit & treasury management, reporting, analysis, financial consolidation, demand planning, budgeting, margin reconciliation, meticulous scrutiny of payroll, finalization of financial records, and the seamless execution of monthly and yearly closing procedures. Acting as a key decision-maker for fund-raising, working capital limits, and monthly cash flow planning, ensuring optimal financial health and liquidity.
• Audit Coordination: Steering financial reviews and audits with external audit and tax firms, ensuring compliance and accuracy.
• Tax Compliance: Providing necessary information to outside accountants for federal, state, and local tax returns, ensuring comprehensive compliance for the business and trusts.
• Internal Controls and Process Improvement: Developing recommendations and implementing improvements to internal control processes, strengthening the Accounting and Finance department's robustness.
• Strategic Business Partnership: Participating as a strategic partner on cross-functional teams, driving organizational efficiency, effectiveness, and continuous improvement.
• Process Improvement Projects: Leading process improvement initiatives across Finance, Accounting, and IT domains, enhancing operational efficiency and effectiveness.
• Financial Guidance and Talent Development: Providing accounting and financial guidance to Operating Functions and CEO, fostering the development of accounting talent within the organization.
• Statutory Compliance and Government Liaison: Overseeing statutory compliance matters such as VAT, Excise, etc., coordinating with government agencies, handling show cause notices, and ensuring adherence to regulatory statutes and procedures.
• People Management: Directly managing a team of 12 individuals, providing guidance, direction, and support in their day-to-day tasks and professional development. Additionally, overseeing 3 indirect reportees, ensuring their alignment with departmental goals and objectives while fostering a collaborative and productive work environment.
BAQER MOHEBI ENTERPRISES L.L.C. (ZAINAL MOHEBI HOLDINGS), Dubai, UAE
Head of Accounts \[Apr 2007 onwards\]
Responsibilities:
Report to Finance Controller-GCC and manage a team of 8 (direct) and 5 (indirect).
Administer and oversee the accounts department functions corresponding to internal policies, procedures and strategic objectives.
Monitor entire accounting, and key journals (5 divisions) VAT related requirements & compliance
Scrutinize ledger accounts, finalization, and monthly /yearly closing of books of accounts.
Monthly VAT returns and related FTA compliance.
Ensure compliance with yearly audit requirements and handling yearly audit.
Preparation and submission of monthly/yearly financial statements (including different levels of P&L accounts) and related MIS within the specified deadlines.
Budget preparation, monthly analysis and variance reporting.
Analyze ageing report of suppliers for payment and verification of all payments.
Analyze ageing report of customers for ensuring timely receipts of outstanding within the due date.
Fixed assets management.
Insurance management.
Pricing of products (Value chain)
Tenancy management.
Verify overall reconciliation of statements.
Observe daily balances of bank accounts.
Liaise with banks for foreign currency buying, forward currency booking, TR’s, letter of credits and bank guarantee etc.
Ensuring timely payment to foreign suppliers for due invoice of entire group companies.
Generate costing sheet in relation to imported goods (Consignment wise - Average 120 consignments per month).
Prepare claim statement comprising market support from trading suppliers and ensure timely receipt of fund from the suppliers.
Negotiation on local supplies, validation of quotations and approval of LPOs.
Coordinate finance department activities with offices at Oman and Qatar.
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Chartered Accountant
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