HEAD OF INTERNAL AUDIT
DRYDOCKS
Total years of experience :23 years, 11 Months
Provide assurance and consulting/advisory services to the DDW Board and Senior Management. Directly reports to the Chairman and Parent Company (Dubai World) Board Audit & Risk Committee on matters of Governance, Assurance, Risk and Control
•Responsible for the preparation, approval and implementation of the Annual and Long-Range Internal Audit Plan for Drydocks World
•Manage and carry out (on a day to day basis) financial, operational, project and information systems audits/reviews based on the approved Internal Audit Plan and Standards for the Professional Practice of Internal Auditing
•Review audit work performed by the audit staff and finalize risk-based internal audit reports summarizing areas of non-compliance with policies, procedures, standards, laws and regulations and internal control weaknesses and risk exposures
•Review the ERP system in place to assess its functional/modular efficiency and business value
•Review systems and processes covering material assets, such as equipment, buildings, investments, and human resources, and determine level or degree of effectiveness of their utilization
•Efficiently and effectively manage all other engagements like Management/Special Consulting Requests and Fraud Investigations
•Advise Senior Management in the maintenance of effective and efficient financial and operational controls
•Review the adequacy, practicality and applicability of existing Policies and Procedures to provide inputs to the business on how they may still be improved in order to attain the desired level of operational efficiency and effectiveness
Successfully integrated and covered Internal Audit/Assurance, Risk Management, and Fraud Risk and Investigation services/functions in the absence of separate departments for these
•Completed Enterprise-wide Risk Assessment and Risk Registers for the Company while providing continuing advise to Management on the complete implementation of a formal Risk Management Process, including the development of a guide to determining risk tolerance and appetite
•Developed and implemented procurement and management control and business ethics related policies, guidelines and procedures (e.g., Whistleblowing, Conflict of Interest, and Anti-Bribery and Corruption policies and guidelines) to initiate the introduction of governance-related programs/best practices in the company
•‘Accomplished more with less’ by completion of a considerably high number (i.e., way beyond target) and an ideal mix of risk-based audit, consulting, and fraud investigation engagements, given limited resources
•Realized considerable financial impact from identification of opportunity revenues, revenue leakages, exposures to additional costs/expenses or impairments, and recoveries
•Identified critical audit issues and risk exposures that necessitated immediate discussions and remediation at Board and Senior Management levels
•Developed continuous auditing/control monitoring reports in collaboration with the IT Department, and integrated same in the existing ERP System (Mariner)
•Continuously developed and innovated audit approaches and methodology to reduce number of man-days allocated to audit engagements and keep audit cost at a very competitive level; i.e., significantly lower than prevailing IA outsourcing market rates
•Played an active role as adviser to the Information Security Officer in ensuring compliance to the Information Security Regulation and to the ERM Champion for implementing Enterprise Risk Management in DDW
•Completed and conducted a Fraud Risk Assessment for DDW
•Developed leadership skills of senior audit staff and enhanced skills and competencies of all audit staffers
•Reviewed Internal Audit Operations / Activities of different large companies in the UAE for External Quality Assessment/Review or compliance to the International Standards - as a volunteer and accredited reviewer/validator for the UAE Internal Audit Association and the Institute of Internal Auditors
Completed Risk and Control Matrices (also risk registers) and Audit Programs for the audit universe in Port, Free Zone, Ferry and Ship Repair/Building Operations
•Aligned and streamlined the different audit approaches of sub-teams, capitalizing on the development of the Risk and Control
Directed all financial, accounting, IT, human capital, and administrative functions of the Pay TV provider of global Filipino content in the MENA region, which generated AED 10 Million in annual turnover. Same company is the global arm and a subsidiary of the Philippines’ Largest Broadcasting company, ABS-CBN Broadcasting Company. It was supported by a total direct staffing strength of 50. Directly supervised a team of 10 people in Finance, IT, and HR and reported directly to the Managing Director. Also reported functionally to the Global CFO based
2006 based on a track record of achievements/accomplishments and experience in Internal Auditing in one of the largest conglomerates in the Asia Pacific Region (San Miguel Corporation) and qualifications obtained from international organizations based in the US. Directly reported to the Managing Director and supervised 2 Auditors at start up.
•Set up the Internal Audit and Assurance Services of this new led by competent and highly qualified professionals in their field of expertise.
•Set up the recruitment and training process for junior and senior staff identified to be part of the team/firm.
•Facilitated and assisted the Managing Director in presentations of services offered to top companies in the Philippines.
•Headed the Internal Audit Division of the new firm.
Led the Finance and Audit Team in Due Diligence Audits for major acquisitions from 2001 to 2005 in the beverage, food, packaging, media and power businesses in Australia, Malaysia, Singapore, China, and locally, in the Philippines
•Headed the Internal Audit Function at Coca Cola Bottlers Phil., Inc. in 2001 and major subsidiary, Cosmos Bottling Company, post acquisition by San Miguel Corporation of these soft drinks companies
•Set up and Headed the Centralized Pre-Audit and Compliance Audit Group at San Miguel Corporation tasked with ensuring compliance to disbursement and procurement policies and procedures for all expenditure (Operating and Capital) and purchases across the Group with amounts of over PhP 1 million or USD 24K.
•Managed Internal Audit Engagements and presented results and relevant risks to the Audit Committees and Executive Managements of SMC’s soft drinks businesses and Packaging Division
Managed internal audit engagements for the San Miguel Group and its business interest geographically in the South Luzon Area, which covers Beer Bottling and Sales Operations, Cattle, Livestock and Poultry Operations, Meat Processing Operations, Mold Manufacturing, Glass Container Manufacturing, Flexibles, PET and Plastics Packaging, Carton Packaging, Agribusiness and Fisheries, etc., and use SAP as ERP
•Managed under a matrix structure, the internal audit requirements of the Group’s Packaging Business Division, which has manufacturing operations for glass containers, molds, cartons, flexibles, 2-piece cans, etc.
•Discovered management fraud in a subsidiary, using expertise and knowledge in auditing around the SAP environment
•Developed expertise in the audit of the Group’s core business - Beer Sales Operations and relevant applications using the SAP system, which also led to the discovery of a number of fraud cases involving salesmen and logistics personnel
Provided leadership and direction as Chief Financial Officer of the Conglomerate’s Liquor Division, which generated over USD 350 million in Annual Revenues. Directly supervised 50 accounting and IT staffers at the Head Office and 5 manufacturing/bottling plants and distilleries. Reported to the Group CFO and Subsidiary (GSMI) President.
•Managed the overall financial affairs of the company, ensuring that financial statements preparation and the budgeting process meet international accounting standards and support the overall strategic objectives of the business.
•Provided strategic, proactive and forward looking financial and investment plans aligned to the organization’s strategic goals for revenue growth and profitability. Developed and directed the implementation of strategic business and/or operational plans, projects, programs, and systems.
•Prepared reports and analyses on financials for the Board, Investors and Executive Management.
•Managed the Company’s Treasury operations, which covered cash management, liquidity management, investment strategy formulation and implementation, foreign exchange and financing risk management (short and long term), and financial institution relationship management.
•Maintained adequate access to liquidity, improved working capital utilization, sourced funds at favorable terms, enhanced cash flow, and worked towards optimal deployment of funds and favorable return on investments.
•Ensured compliance in reporting as per regulatory and legal requirements, including those pertaining to taxation, annual legal reporting requirements, and accounting.
•Managed processes for financial forecasting, consolidation and reporting.
•Developed and implemented sound internal control systems & procedures to ensure integrity of accounting information, safe custody of assets, and compliance with laws and regulations.
•Managed functional/process and organizational/strategic risks and provided timely alerts or red-flags to Management to address or mitigate such risks.