Finance & Admin Manager
McCormick &Co
Total years of experience :23 years, 1 Months
Business Start-up
• Worked for the operation start-up of the new built factory in UAE. Obtaining licences, certificates and registration for the products and operation
• Implementation of the McCormick global systems, controls and reporting for UAE
Budgeting, Controlling Management Reporting
• Responsible for the factory budget - its preparation monitoring and reporting
• Quarterly updating the forecast
• Business monitoring for identification of risk and opportunities
• Ensuring books of accounts are upto date
• Coordinating the monthly closing
• Plant Controller responsibility - challenge and support the operation for the assumption performance
Plant Administration
• Coordination with central HR for visa issuance /renewal for the employees
• Local HR point of contact for all employee related matters
• Responsible for the plant administration
• Renewal of the licenses and certificate
• Dealing with all the authorities in UAE
VAT Implementation
• Worked on the project of VAT implementation for the Dubai entity.
Finance / Treasury Function
• Dealing with bank as local/first point of contact, for approval of new facility for the company.
Supply Chain
• Planning the material requirements and placing orders in coordination with central SC
• Production scheduling and keeping operation upto date for all the plans
• Import & Export documentation control and coordinate the outsource companies
• Sales / Despatch / Receipt scheduling
• Managing /planning stock movement between warehouses
Financial Reporting
• Preparation of periodic financial reports for internal and external purposes.
• Month end / period end scheduling, adjustment and closings.
• Dealing with the external auditors as the lead coordinator and preparing / reviewing of all the details required for the audit.
Budgeting, Management Reporting & Costing
• Compilation / Preparation of budget and Reporting variances.
• Preparation / Compilation Periodic Management Reports.
• Report development for better monitoring of business operations and results.
• Preparation of the reports required by other stakeholders such as government & regulatory agencies, banks etc.
• Running Cost process in SAP and maintaining the Standard Costs in SAP.
Finance / Treasury Function
• Dealing with bank for structured finances in the mode of Repo transaction.
• Summarizing and report the impact of the Repo transactions.
Accounting & Reporting for Hedging
• Periodic calculation for Hedge effectiveness and recording in the system.
• Monthly analysis of and reporting of trading activities in future market.
Credit Control & Receivables
• Coordination/ follow-up with Marketing department & customers for the recovery of dues.
• Monitoring the collaterals received for their due dates & expiries (bank guarantees / PDC etc.)
• Monitoring the credit limits of the customer and checking the credit worthiness of the customers. Coordination with Dispatch & Marketing Department for delivery / sales planning
• Sales / Contract release in the system on the basis of credit limit/ fund receipt.
Financial Reporting
• Preparation of periodic financial reports for internal and external.
• Dealing with and preparation of reports for corporate and other regulatory authorities.
Costing, Budgeting and Management Reporting
• Assessment, testing and analysis of budget assumptions and its validity
• Compilation / Preparation of periodic budgets and Reporting variances.
• Preparation / Compilation Periodic Management Reports.
• Monitoring and analysis of the expenses
• Identification of cost saving areas and reporting on cost effectiveness of company’s operations.
Tax Planning & Management.
• Tax planning and management based on prevailing laws
• Looking after Income Tax and Sales Tax matters of the company.
• Working of deferred tax on periodic basis for management & external reporting
• Coordination with tax consultants and regulator for tax audits, assessments and other queries.
• Supervision of periodic tax returns and statements
• Supervision of all tax reconciliations
System Improvement, development and other responsibilities
• Working on computerization of various recording and reporting processes including Sales & Production System.
• Internal control assessment and development of policies and procedures for improving efficiency and cost effectiveness.
Role and duties comprise, Audit of all the functions of the Company to Assess the effectiveness of the Company Policies and Standard Operating Procedures and to ensure adherence to the Company Policies and Standard Operating Procedures and to ensure the continued effectiveness of the Policies and Procedures, and development of Policies for new business areas and processes.
Aspects cover in the audits;
• Variance reporting in the Production processes and verifying the reasons for variances.
• Authenticating the co-ordination of Sales Plan with Production and Procurement Plan and analysis of deviation thereof.
• Checking Compliance with established Standard Operating Procedures, Company Policies and Protocols. And to ensure the continued effectiveness of the Policies and Procedures.
• Ensuring the marketing plans, activities and investments. Verification of records of filed force
• Assessing the Purchasing Process and compliance with policies and standards.
• Checking the Financial Management Recording and Management Reporting process.
• Audit of other functions including Human Resource, Administration, Quality Control etc.
Professional Service Experience
Role and responsibilities comprise planning, execution, review and supervision of statutory audit of financial statements, reporting on internal controls, special reports, accounting & consulting services, supervision and staffing arrangements for multiple audit assignments at various companies and compliance with the laws and regulations applicable to the audits.
Statutory Audit Engagement - Sector Audited
Manufacturing
Oil Refinery Cement
Sugar Textile
Carpet Engineering
Automobile
Services Sector
Hospital Travel Agencies
Advertising Agency Indenting Agent
Trust
Internal Audit
Print and electronic media Hospital
Special Assignments
• Development of Accounting and Internal Control Manual (for hospital)
• Assessment of accounting and internal control polices
Maintaining financial records and preparing financial and management reports.
Associate member of The Institute of Chartered Accountants of Pakistan