Senior Finance Executive
Al Othman Agriculture Production and Processing Company – NADA Dairy
مجموع سنوات الخبرة :26 years, 4 أشهر
Responsibilities
------------------------------------------------------------------------------------------
• Preparing forecasts for daily, weekly and monthly cash requirements to enable implementation of financial decisions
• Evaluating cash flow forecasts to ascertain financial health of the organization
• Maintaining updated daily cash position report and coordinating transfers of funds between various accounts in different locations including branches in Dubai, Qatar, Kuwait and Bahrain
• Finalizing various aspects of short & medium term loans, post finances and O/D facility including repayments of loans and post finances and / or the roll-overs decisions
• Monitoring online payments and bank reconciliation activities on weekly basis
• Coordinating with the purchase department, processing of documents with regards to LC establishment, updating LC files and ensuring fund availability at the time of maturity
• Involved in maintenance of credit facility report, preparation of cash budgets, management of working capital including processing of bank documents and maintenance of agreements
• Ensuring compliance to contractual obligations in conducting various transactions
• Optimizing utilization of cash and financial services aligned to business objectives of the organization
• Building/ maintaining productive business relationship with major financial service providers based on business requirements
Achievements
------------------------------------------------------------------------------------------
• Played key role in evaluation, development and implementation of cash management systems leading to enhanced financial efficiency
• Significantly enhanced productivity through implementation of various process improvement initiatives
• Instrumental in evaluation/ recommendation of alternative long-term and short term borrowing strategies based on capital structure guidelines
Responsibilities
------------------------------------------------------------------------------------------
• Spearheaded team efforts in rendering qualitative financial support based on business requirements
• Prepared/ ensured compliance to project budgets, financial statements of group companies, as per IFRS
• Evaluated budget estimates for special projects from various departments for accuracy & completeness
• Generated/ updated various status reports for the senior leadership team and other stakeholders
• Conducted variance analysis and identified reasons for variations
• Involved in signing of invoices, recovery status reports, debtors knocking offs, debtors ageing, overheads reports and cash flow statements
• Monitored approval/ processing of payments based on project requirements including GL entry, monthly staff payroll, bank reconciliations and Provident fund accounts
• Assessed weekly projections of funds required to meet deadlines of PBA, APNS and other disbursements
• Negotiated with various channels for early payment discounts including banks and mutual funds for placement of funds
• Rendered support to the CFO in various strategic decision making activities
• Maintained regular interaction with internal/ external stakeholders/ auditors including government agencies, suppliers, banks, lawyers, insurance companies, consultants, advisors based on requirements
• Liaised with multinational clients like Unilever Pakistan Ltd, Nestle Pakistan Ltd, Johnson and Johnson Pakistan Ltd, English Biscuits Manufacturer, Engro Fertilizer Pakistan Ltd, Packages Pakistan Ltd, Mitchells foods, Dalda Foods Ltd
Achievements
------------------------------------------------------------------------------------------
• Played key role in proposal/ development of internal controls for payments, receipts, revenue recognition, debit and credit notes
• Worked on ERP systems development/ implementation, elimination of in-efficient business process and implementation of efficient procedures for new ERP system
• Developed improved chart of account & management reporting system
• Instrumental in implementation of project-wise costing and production margin systems
Responsibilities
------------------------------------------------------------------------------------------
• Conducted internal audits, managed accounting assignments and other consultancy activities for Standard Chartered Leasing Limited, Sigma Leasing Corporation Limited; UBL Insurers Ltd
• Worked on special assignment for “Pakistan National Shipping Corporation” (PNSC) guiding the consultancy team in preparation of accounting records of the corporation
• Involved in collation of data from banks, suppliers, clients and other stakeholders in the form of statements, reports and other written evidences & confirmations to be used in recording financial transactions
• Maintained updated accounting entries/ postings in GL, prepared trial balances, accruals/ adjustments, profit & loss accounts, balance sheets, statement of changes in equity & cash flow statements
• Generated monthly bank reconciliation statements and identified critical issues
• Participated in meetings with the senior management team of the corporation with regards to financial matters
• Involved in identification of risks, control weaknesses and other important issues
Responsibilities
------------------------------------------------------------------------------------------
• Involved in implementation of SAP, rendering detailed information about various business processes
• Participated in various sessions about SAP orientation conducted by Abacus
• Checked prototypes provided by Abacus to ensure workability
• Maintained updated fixed assets records of factory and head office including accounting records of Dadex Staff P.F
• Finalized maximum loan amount to be approved for individual staff member against P.F for forwarding to the trustees for their final approval
• Involved in rechecking of insurance figures on LCs and import of raw materials
• Recorded insurance premiums under relevant heads of accounts
• Calculated employees’ taxation and ensured compliance with the statutory requirement of filing of employees and supplier’s withholding tax returns
Responsibilities
---------------------------------------------------------------------------------------------
• Monitored external audits including planning/ preparation of various audit programs
• Prepared financial statements based on statutory requirements
• Finalized audit observations based on collated evidence
• Conducted external audits for listed companies like Siddiqsons Tin Plates Ltd, Siddiqsons Denim Mills Ltd, Shahtaj Textile Mills Ltd (of Shahnawaz Group), Nagina Textile Mills Ltd
Responsibilities
------------------------------------------------------------------------------------------
• Monitored various external & internal audits
• Prepared audit plan/ program based on identified key areas
• Drafted detailed reports on external and internal audit findings with a management letter concerning material weaknesses in accounting and internal control systems with recommendations to improve them
• Functioned as Job In-charge of Sales Tax audit team involved in ensuring statutory requirements (Sales Tax Act 1990), verification of Input and Output tax and furnishing of audit report to the Collectorate of Sales Tax
• Evaluated/ developed Improved Accounting and Internal Control systems for Serena (Pvt.) Ltd (Construction Company), Royal Dairy (Pvt.) Ltd (FMCG), Marine Foods (Pvt.) Ltd (Sea Foods), Kings Apparels (Pvt.) Ltd. (Manufacturer)
• Conducted risk assessment in accounting and internal control systems across various units of Aga Khan Education Service Pakistan located in Gilgit, Chitral and Gupis regions
• Performed Corporate and Secretarial work for corporate division of DNL
Major Audits
-----------------------------------------------------------------------------------------
Finalization of Audits: (Manufacturing Industry - Statutory Audits):
• Sugar manufacturing companies
• Pharmaceutical companies
• Cable manufacturing companies
• Plastic goods manufacturing companies
• FMCGs
Finalization of Audits: Service Industry (Statutory Audits):
• Aga Khan University Hospital Karachi
• Jaffer Brothers (Pvt.) Ltd
• Islamic Chamber of Commerce and Industries
• ECG Gateway Pakistan (Pvt.) Ltd
• Princely Travels, Fair-deal travels
• Aga Khan Education Service Pakistan
• Aga Khan Health Service Pakistan
• Various credit societies
Sales Tax Audits (on appointment by FBR- as a Job In charge):
------------------------------------------------------------------------------------------
• Apollo Textile Mills Ltd. (Manufacturing Company)
• Textile International. (Manufacturer and Exporter)
• Yours Collections. (Manufacturer and Exporter)
Trainings ---------------------------------------------------------------------------------------- • SAP - Extensive User Training in FI & CO from VMS Pakistan • Business Communication and Presentation • Financial Modeling, Advance Excel & VBA • Presentation Skills Training Course