Finance & Investment Assistant Manager
United Insurance Company BSC (Closed)
Total years of experience :25 years, 8 Months
•Manage and supervise 4 support accountant performing functions covering of account receivables, account payables, reinsurance, fixed assets, premium collection and cash control, prepaid expenses, petty cash, and bank reconciliation and reporting to department manager for monthly accounts updating progress.
•Preparing monthly and related required timely reports for company's invested fund portfolio:
- Bookkeeping historical data of performance, purchases, sales and write off of investments (equities, bonds, mutual fund, and fixed income investment) and cash flow.
- Managing and control short term deposits and performing all related duties.
- Allocating and reconciling monthly investment accrued interest (fixed deposits, bonds).
- Summarizing new investment opportunities proposals and recommend required fund allocation based on company's investment policy guideline.
- Preparing monthly investment control report (Actual invested fund compare to investment policy limitation guideline).
- Recording and maintaining monthly net assets value of investment and reconciling reserve of investment.
- Preparing share evaluation summary reports for some of GCC companies and banks for future investment opportunities.
- Following-up annual and interim investment dividend collection process and AGM news.
- Completing all requirements of new investment placing documentation and information.
- Corresponding and communication related to investments.
• Supporting Finance and Investment Manager to prepare monthly financial statements and annual budget.
• Preparing final payments of departing employees.
• Monitoring and controlling cash and bank fund accounts.
• Adjusting and reconciling provision accounts, unearned premium, outstanding claims and reinsurance recovery receivables.
• Accomplishing any required assignment by company's management or any required statistical returns by Central Bank of Bahrain
•Manage and supervise 4 support accountant performing functions covering of account receivables, account payables, reinsurance, fixed assets, premium collection and cash control, prepaid expenses, petty cash, and bank reconciliation and reporting to department manager for monthly accounts updating progress.
•Preparing monthly and related required timely reports for company's invested fund portfolio:
- Bookkeeping historical data of performance, purchases, sales and write off of investments (equities, bonds, mutual fund, and fixed income investment) and cash flow.
- Managing and control short term deposits and performing all related duties.
- Allocating and reconciling monthly investment accrued interest (fixed deposits, bonds).
- Summarizing new investment opportunities proposals and recommend required fund allocation based on company's investment policy guideline.
- Preparing monthly investment control report (Actual invested fund compare to investment policy limitation guideline).
- Recording and maintaining monthly net assets value of investment and reconciling reserve of investment.
- Preparing share evaluation summary reports for some of GCC companies and banks for future investment opportunities.
- Following-up annual and interim investment dividend collection process and AGM news.
- Completing all requirements of new investment placing documentation and information.
- Corresponding and communication related to investments.
•Supporting Finance and Investment Manager to prepare monthly financial statements and annual budget.
•Preparing final payments of departing employees.
•Improved and developed payroll system with help of information technology administrators.
•Monitoring and controlling cash and bank fund accounts.
•Classifying and organizing with ensuring of updating chart of accounts items.
•Adjusting and reconciling provision accounts, unearned premium, outstanding claims and reinsurance recovery receivables.
•Controlling and updating staff loan monthly deductions.
•Bookkeeping of staff retirement scheme program and preparing all required Corresponding letters.
•Reconciling of monthly premium of staff social contributions.
•Preparing employee salary certificates and bank salary transfer letters.
•Selected suitable applicants for interviews from wide range of applications for particular vacancies.
•Prepared employment offers and contracts with other related documentations.
•Checked daily staff attendance and report to administration and HR manager.
•Prepared warnings, notices, general administration internal memos and external correspondences.
•Managed and updated staff personal files.
•Prepared part of annual staff evaluation.
•Carried out office purchase requisitions process and related tasks.
•Improved and developed local purchasing system with help of information technology administrators.
•Accomplishing any required assignment by company's management or any required statistical returns by Central Bank of Bahrain
Honor: Employee of the year for 2004 and 2005.
•Prepared and checked income statements for 12 divisions and submitting budgetary analysis comparison report for each division with consolidated results.
•Managed and controlled account payables with related tasks for 12 active divisions.
•Checked patty cash for 12 divisions and prepared petty cash of financial department.
•Prepared and checked payroll of 12 divisions including over 300 employees.
•Handled bank reconciliation of 6 active accounts.
•Prepared and checked staff payments (Final and vacation payments).
•Reconciling of monthly premium of staff social contributions.
•Managed and controlled account payables and receivables with related functions and documentations.
•Verified monthly physical stock closing of raw material and pipes and report to accounts supervisor.
•Involved in annual stock closing count of raw material, pipes, fittings, and spare parts for 1999 and 2001.
•Handled cash book and general ledger accounting of KSA and UAE branches.
•Accomplished costing tasks of imported raw material and spare parts.
•Accomplished some duties for internal audit department:
- Check and test computer system transactions (e.g. sales invoices, journal entries, delivery notes, finished goods notes, purchase orders, goods received notes, etc)
- trace sales and purchase orders transactions.
- verify petty cash receipts and cash on hand of other department.
- check employees' salary and overtime records.
- participate in assignment to update and improve fixed assets records.
•Involved in the following audit assignments:
- Retail sales accounting.
- Gas and miscellaneous sales.
- Verification of redeemed fuel oil vouchers.
- Service stations operations.
- Payments and receipts cash book.
•Reorganized by self initiative the complete filing system of Internal Audit Department.
•Cleared exporting and importing documents in Customs Administration, Directorate of Health and Fisheries Department.
•Conducted daily purchase and sale orders of fish and shrimp with watching delivery process and delivered some sale orders to Kuwait, Qatar, and Saudi Arabia Kingdom.
•Carried out all banking transactions and Bookkeeping financial records of establishment.
•Managed of equipping and decorating a new shop for selling fish and shrimp.