Group CFO & Company Secretary
World Group
Total years of experience :26 years, 4 months
The group is a leading conglomerate with interest in Real Estate Development / Construction, Financial Investments and Sports Promotion. I contributed in financial management, taxation, treasury, budgeting and corporate secretarial practices for group.
Partnered in the real estate development /construction through project planning and evaluations, JV negotiations, contract finalizations and sales forecasting. The strategic input resulted in business development, execution of new projects and revenue enhancement.
The groups financial investments included debt swapping and debt purchasing with FI’s, support in debt restructuring to borrowers and professional mediation. Achieved win-win situation for the FI, borrower and the group company through settlement of cases.
National University of Sciences and Technology (NUST) is among the top 500 world universities and among top 100 universities having age of less than 50 years as per ranking of M/S Quacquarelli Symonds (QS) of UK. As Director Finance I was responsible for the management of financial affairs of 14 institutions. I was member of various strategic committees including steering committee of U.S.-Pakistan Center for Advanced Studies in Energy (US Aid program) and achieved following results:
Optimized organization’s financial performance and achieved strategic vision.
Ensured rational budgeting and its utilization, as well as effective reporting and treasury function.
Contributed to the development of strategy across all functional areas and provided analysis /direction on all activities, plans, and business drivers.
Restructuring, BPR & Automation to ensure that the systems & processes are robust, compliant and support current activities and future growth.
Lead and develop the finance teams by training and establishing KPI’s.
Present annual accounts to the Board of Governors and its sub-committee.
Relationship management with the concerned ministries and donor agencies for fund allocation/timely releases.
Regional Oil & Gas Exploration Company with activities in Pakistan and Tajikistan and has both local and multinational partners in its exploration blocks. I was a member of the Management Team, reporting to CEO and involved in coordination with JV partners, investors and BOD. Key task achieved:
Evaluation of short and long-term strategic financial objectives through budgetary analysis and forecasts.
Developed, implemented and maintained a comprehensive cost control system resulting in cost savings.
Timely JV Accounting & Reporting to the regulatory authorities, parent company and JV partners.
Efficiently managed day-to-day operations, treasury and timely released cash call from JV Partners.
Handled various tax issues including finalization of the company’s annual tax return.
Finalization of external audits and non-operator audits conducted by the JV Partners.
Implemented appropriate internal control policies and procedures, through financial / other policy manuals.
Managing the corporate affairs and ensuring the compliance of statutory requirements.
Focal person for the project economic evaluations and provide input for finalization of contracts.
Managing mergers & acquisitions as well as performance measurement at group level.
Gulistan Group has a turnover of more than 150 million USD involved in textile manufacturing and includes eight public & five private limited companies. Developed proactive approach to cater growth and diversification challenges. I was reporting to the Audit committee of the BOD for the following functions:
Assessment of the organizational risk, risk appetite and risk tolerance capacity.
Implementation of the risk based audit methodology and its incorporation in the audit plan.
Review and modification of the audit manual / programs in line with the audit methodology.
Supervise system reviews and controls assessment of departments as per the audit plan.
Presentation of internal control review report and findings.
Supervise management audits, risk advisory work, investigations and special assignments.
Monitoring of team assigned for the pre-audit of the group payments pertaining to the imports, exports, cotton purchases, treasury, admin & payroll, etc.
Develop meaningful insights from MIS reports to deliver strategic business value.
Advisory work of Peridot Products (Pvt) Limited, a company engaged in manufacturing and marketing of Kiwi Shoe Care and Household Products.
NIB bank has the largest equity base in Pakistan and has nationwide branch network. I have worked for the Credit Administration Division (CAD) and reported to SEVP- CAD. Functionality of the MIS unit was administered under four subunits i.e. ‘Corporate Banking’, ‘Consumer Banking’, ‘Leasing’ and ‘Regulatory Reporting’. The challenge with this position was to develop proper information systems other than meeting the routine reporting requirements. My responsibilities included:
Supervise MIS reporting for the credit portfolio and budgeting.
Manage regulatory reporting to SBP and liaison with the SBP Auditors during inspection.
Guidance to branches in respect of statutory reports.
Coordination with the business units to cadre their need for product specific MIS.
Collaboration with the I.T. Division as an Analyst in development of reporting models.
Interaction with the RMD for the generation of various risk assessment reports.Functionality of the MIS unit was administered under four subunits i.e. ‘Corporate Banking’, ‘Consumer Banking’, ‘Leasing’ and ‘Regulatory Reporting’. The challenge with this position was to develop proper information systems. My responsibilities included:
Supervise MIS reporting for the credit portfolio and budgeting.
Manage regulatory reporting to SBP and liaison with the SBP Auditors during inspection.
Guidance to branches in respect of statutory reports.
Coordination with the business units to cadre their need for product specific MIS.
Collaboration with the I.T. Division as an Analyst in development of reporting models.
Interaction with the RMD for the generation of various risk assessment reports.
My responsibilities included reporting to the CFO in respect of following areas:
Supervise the preparation of budget document and its variance analysis on monthly basis.
Preparation of Business Plans and Scenario Analysis under different alternatives.
Preparation of informative reports for Asset Liability Committee Meetings.
Finalization of management accounts and accounts for statutory reporting.
Correspondence and advise to branches on different accounting & operational matters.
Filing of tax returns and communication with tax consultant and tax department.
Maintenance of fixed assets register and control over the movement of fixed assets.
Joined ‘Deloitte & Touche (D&T’)-Pakistan to undertake Mandatory training as prescribed by the Institute of Chartered Accountants of Pakistan (ICAP). My areas of experience include:
-Audit of annual financial statements of multinational and local clients at different roles and positions.
- Supervision of different assignments of assurance, management advisory services, consultancy, legislative certifications and compliance services of banking, insurance, manufacturing concerns and service sector.
My work responsibilities encompass awareness of regulatory frameworks, understanding and evaluation of clients’ accounting and internal control system and to engage in audit planning, supervision and detailed review of internal controls and the financial statements and to report thereon to ensure compliance with the International Accounting Standards (IASs), International Financial Reporting Standards (IFRSs), International Auditing Standards (ISAs) and local statutes.
Selected audits are:
Industrial Development Bank of Pakistan Crescent Capital Management
Pakistan Industrial Credit & Investment Corp. Ismail Industries (Pvt) Ltd
State Life of Pakistan Crescent Leasing Company
Proctor and Gamble Pakistan First Equity Modaraba
Clipsal Pakistan (Private) Limited First Imrooz Modaraba (Trading)
First Al-Noor Modaraba Allied Bank Limited
WORK EXPOSURE ON SPECIAL ASSIGNMENTS - 1998-2002
Prudential Commercial Bank Limited (Due Diligence Assignment)
EFU General Insurance (Special Audit)
Sheraton Hotel Fixed Assets - Controls Review and Verification
PTCL-Shares conversion from physical to CDC accountServed ‘Deloitte & Touche (D&T’)-Pakistan to undertake Mandatory training as prescribed by the Institute of Chartered Accountants of Pakistan (ICAP). My areas of experience include audit, management advisory services, consultancy, legislative certifications and compliance services for banking, insurance, manufacturing concerns and service sector.
My work responsibilities encompass awareness of regulatory frameworks, understanding and evaluation of clients’ accounting and internal control system and to engage in audit planning, supervision and detailed review of the financial statements and to report thereon to ensure compliance with the International Accounting Standards (IASs), International Financial Reporting Standards (IFRSs), International Auditing Standards (ISAs) and local statutes.
Member of the Institute of Chartered Accountants of Pakistan and completed mandatory training of 4 years from Deloitte.