Financial Controller
Union COOP
Total years of experience :20 years, 5 Months
Managing accounting operations including A/R, A/P, GL, Inventory Accounting and Revenue Recognition
Coordinating and directing the preparation of the budget and financial forecasts and reporting variances
Preparing and presenting timely monthly Management Accounts
Coordinating the preparation of regulatory reporting
Researching technical accounting issues for compliance & control
Supporting month-end and year-end close process
Ensuring quality control over financial transactions and financial reporting
Developing and documenting business processes and accounting policies to maintain and strengthen internal controls
Highlights:
> Processed and obtained bank overdraft facility for the company.
> Obtained ISO 9001-2008 certificate for the company by developing sound internal control/management system, including company’s policies and procedures.
> Prepared documentation and record for first three years’ audit of the company.
Key Responsibilities:
• Oversee the smooth and efficient running of the Finance Dept.
• Ensure compliance with statutory authority and audit requirements.
• Maintain integrity of Accounting system (software), ensuring it remains effective and operational at all times.
• On a monthly basis conduct balance sheet reconciliation for review by Directors.
• Where inconsistencies to reconciliations emerge take remedial action or refer to relevant personnel as appropriate.
• Analyse business performance / results, providing feedback to Senior Management.
• Co-ordinate and prepare annual budgets, including operating and capital expenditure budgets.
• Ensure approved capital expenditure budgets are adhered to at all times.
• Ensure any variations to budgets and forecasts are explained in management reports, including any future / potential exposures to the organisation.
• Ensure all company assets are monitored and accurately accounted for.
• Ensure the fixed assets register is managed and maintained with strict adherence to “fixed assets register procedure.”
• On a monthly basis ensure the general ledger is reconciled to the assets register.
• Make self available as coach / mentor in assisting direct reports to develop in their positions.
• Ensure that relevant information is communicated to direct reports enabling them to effectively carry out their functions.
• Complete KPI assessment of direct reports within Company specified time frame.
• Ensure all reasonable steps are taken in order to achieve workplace harmony within the organisation at all times.
Highlights:
• Instrumental in developing financial and procurements plans for projects related to production and supply of AAC building materials.
- 2010: Park Hayat Hotel Project.
- 2010: Accommodation project for UPP.
- 2009: Al Dar project.
Key Responsibilities:
• Spearheading accounting/ financial disciplines, including financial budgeting and planning/ forecasting to align to the company’s operations.
• Analyzing key finance performance indicators and trends, such as financial ratios and cross division comparisons which, includes establishing financial benchmarks of acceptable performance and comparison of actual results to budget thus initiating corrective actions.
• Monitoring accounting, management, financial, treasury (cash/ facilities/ investment management)and legal collection functions in compliance with financial policies/procedures of the organization.
• Designing budget guidelines to optimize cash flows, managing investments and working capital requirements, advising higher management on optimal utilization of financial structures within the company to enhance return on investment.
• Providing financial decision-making information by collecting, analyzing, and reporting cost data, specifying/comparing factors affected prices and profitability of products/services.
• Evaluating all credit control procedures, collection/ aging process of the credit control department and drafting reports.
• Exercising financial controls for preparation and processing of invoices with the specified date thus resulting in significant reduction in collection shortfalls and delayed payments.
• Preparing all monthly financial statements - P&L, balance sheet, monthly closing of accounts, monthly utility bills, cash flow projections, bank reconciliation statements, ageing analysis reports, various cost-benefit analysis and weekly financial management reports.
Highlights:
• Instrumental in processing loan documentation for various organisation.
• Conducted financial feasibilities studies for Sarhad Development Autority (Government of KP, Pakistan) for multi projects.
• Efficiently conducted audits of various group companies, government organisations, NGOs and NFP organisations.
Key Responsibilities:
• Spearheaded the development and implementation financial policies, systems, procedures and guidelines to ensure smooth cash flow, streamlined budgets, established stringent procurement and expense guidelines.
• Established audit plans, objectives, and scope of work in conjunction with senior auditors, assisted with overall execution of audit program and final report delivery.
• Designed Internal Control System for several organizations and automated the systems in coordination with Software Consultants.
• Devised the annual budget forecasts and conducted financial reporting. Analyzed general ledger accounts to determine their accuracy and ensure all funds are managed appropriately.
• Evaluated system effectiveness and performed professional audits in accordance with the approved audit program.
• Drafted complete audit reports, providing clear description of issues identified, related implications to the business and recommendations to resolve the issues.
• Analyzed and prepared requisite reports to ensure that audit and engagement risks are properly considered/documented, as well as the audit plan accurately reflects such evaluations and conclusions.
Key Responsibilities:
• Administered an array of day-to-day accounting tasks pertaining to cash payments, expenditure details, collection of all outstanding receipts, as well as calculated employee settlement amount and ensured timely disbursement by bank transfer.
• Analyzed all financial statements, monthly closing of general ledger accounts, cash flow projections, bank reconciliation statements, ageing analysis reports, other cost-benefit analysis to ensure accuracy and completeness of financial information.
• Evaluated financial reporting systems, accounting procedures and investment activities to recommend/effect requisite modifications in operating systems, budgets and other financial control functions in liaison with senior management.
• Analyzed financial information and preparing financial reports to determine/ maintain record of assets, liabilities, profit and loss and other financial activities within the organization.
• Maintained proper books of accounts including petty cash management, updating material costs based on weighted average procedure and maintained fixed assets ledger, ensured accurate and correct entry in the books of accounts.
• Reviewed and devised monthly/yearly financial and income statements, balance sheets, internal audit, cash flow projections and principal profit & loss to monitor cost as well as ensure budget compliance.
