Salim Sikander Padani, Head of Controlling (Finance), Budgeting, Planning, Internal Audit and Foreign Reporting - ME Region

Salim Sikander Padani

Head of Controlling (Finance), Budgeting, Planning, Internal Audit and Foreign Reporting - ME Region

Kuoni Destination Management

Location
United Arab Emirates - Dubai
Education
Diploma, Internal Auditor
Experience
19 years, 2 months

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Work Experience

Total years of experience :19 years, 2 months

Head of Controlling (Finance), Budgeting, Planning, Internal Audit and Foreign Reporting - ME Region at Kuoni Destination Management
  • United Arab Emirates - Dubai
  • My current job since November 2011

Currently I am working as a Head of Controlling (Finance) - Middle East Region in Kuoni Destination Management which is the "World’s Leading Destination Management Company"and responsible for looking after Kuoni entities operative in Dubai, Oman and Jordan having an annual turnover of over AED 600million. Leading a team of Controllers and is directly reporting to Chief Finance Officer and Chief Executive Officer, my key responsibilities are:

• Review and coordination of the divisions monthly, quarterly, half yearly and annual internal reporting to the local management and external reporting to the Group in Zurich, Switzerland.
• Lead the process of the budgeting and quarterly forecasting for the KDM Middle East division on a global basis.
• Review and Analyze the Organization Financial Performance, comparing the same with the Budget / Forecast analyzing variance analysis along with sharing valuable suggestions on how to find synergies so as to be effective and efficient.
• Core contributor to the integration process into the greater group organization (lead the financial integration of Reem Tours and Travel LLC into Desert Adventures Tourism LLC).
• Establishing and strengthening of systems for sound internal controls based on Group guidelines and corporate policies.
• Working capital management and monitoring of cash flow.
• Leading external and internal audit exercises.
• Maintenance of relationships with Banks.
• Evaluation of risks and provide support in risk management solutions to the Business.
• Develops and implements policies, Standard Operating Procedures (SOPs) for the operational areas and monitors performance to insure effectiveness and efficiency of the programs.
• Responsibility for the financial controlling of group companies and leading the implementation and execution of the global divisional controlling function.
• Preparation and review of business cases in the context of capex, business development and M&A activities.
• Lead the Operation and financial implementation of new automated systems and procedures and managed the ongoing development of various applications;
• Initiates and participates in special studies of accounting and fiscal systems, practices and procedures; gives advise for professional accounting work of unusual difficulty.

Head of Investment Department at The Aga Khan University Hospital
  • Pakistan - Karachi
  • October 2009 to October 2011

Worked as a Head of Investment Department in The Aga Khan University Hospital an integral part of The Aga Khan Development Network (AKDN). I was reporting directly to Director Investments and Chief Finance Officer. My key responsibilities are:

• Investment Portfolio Management of Hospital and University Funds, Endowment Funds and Employees Retirement Funds of over Rs. 10 billion in total;
• Develop proposals and reports for investments of excess funds based on analysis of investment banks & research houses and trends in the Money / Stock Market and to get maximum mileage on idle funds;
• Pre-empt funding needs and anticipated inflow/ outflow of funds for operations as well as construction projects and mange them accordingly;
• Review meeting papers for the monthly investment committee meetings
• Supervise operational activities of the department like General Ledger maintenance, approval of bank reconciliation and other routine statements;
• Follow-up on corporate matters and fulfill filing requirements of Securities & Exchange Commission of Pakistan.
• Establishing interpretive and predictive financial models to assist business decisions by:
• Preparation and analysis of statutory accounts;
• Budget Preparation and Monitoring.

I was also involved in the transformation of the Defined Benefit Gratuity Scheme into Defined Contribution Scheme for the Hospital and University Employees. The major responsibilities included the drafting of Trust Deed and Rules, Actuarial Valuation, drafting letters and communications to seek approval from Trustees, Board and FBR and Bifurcating the Gratuity Portfolio into Defined Benefit and Defined Contribution Scheme and reviewing the yearend financial statements.

Assistant Manager at A.F.Ferguson & Co
  • Pakistan - Karachi
  • December 2008 to September 2010

Worked as an Assistant Manager in the Taxation and Legal Advisory (TLAS) group of A.F.Ferguson & Co. Chartered Accountant (a member firm of ) in Karachi. The nature of my work and responsibilities were:

• Correspondences with Taxation officer, Commissioner of Income Tax / Sales Tax and other relevant authorities;
• Advising the client on various taxation issues; and
• Commenting on decisions made by higher tax authorities on relevant tax issues and advising client for further action to be undertaken by analyzing the probability of favorable outcome.

The most significant corporate tax clients that have contributed to my professional growth include:

• Coca Cola Beverages Pakistan Limited.
• Pepsi International (Pvt) Limited.
• New Hampshire Insurance Company Limited.
• JP Morgan.
• PICIC Assets Management Company and its Funds.

Auditor at A.F.Ferguson & Co
  • Pakistan - Karachi
  • December 2004 to November 2008

I was associated with the leading Chartered Accountant firm A. F. Ferguson & Company., Chartered Accountant, a member firm of Karachi office, Pakistan and completed my four year mandatory training period working in various capacities. I have also worked as Senior Associate in PWC - Saudi Arabia from January 2008 to April 2008. I report to the Manager Audit and Business Advisory Services and my key responsibilities includes:

 Lead teams through the planning and supervision of audit engagements, assessment of business and audit risks of clients, execution of statutory audits and other assurance engagements.

 Engagement management, client relationship management, on-job training and professional development of staff, co-ordination with professionals in various fields like legal, actuarial and IT experts and decision-making for resolution of critical reportable matters.

 Assisting the clients in preparation of financial statements in accordance with the IFRS and relevant statutory requirements.

 Pre Preparation of management letters to identify significant weaknesses of internal control system of our clients and recommending improvements therein.

 Ensuring compliance with the Code of Corporate Governance for listed companies and advising client on the development of system for the monitoring and reporting of compliance with the Code.

Experience in the ABAS Group of the firm has enabled me to develop a comprehensive understanding of the competitive and regulatory environments of diversified industries and the accounting and internal control systems implemented at various organizations.

Education

Diploma, Internal Auditor
  • at The Institute of Internal Auditors
  • December 2010
Diploma, Accounting
  • at Pakistan Institute of Public Finance Accountants
  • April 2009
Diploma,
  • at The Institute of Chartered Accountants of Pakistan
  • December 2008

Specialties & Skills

Internal Audit
External Audit
Financial Reporting
Working Capital Management
use of Microsoft office
ERP Solution PeopleSoft, Oracle, Iscala and SAP.

Languages

English
Expert
Urdu
Expert

Memberships

The Institute of Chartered Accountants of Pakistan
  • Associate Member
  • March 2009
Pakistan Institute of Public Finance Accountants
  • Associate Member
  • April 2009

Training and Certifications

Yes (Certificate)
Date Attended:
April 2011
Valid Until:
April 2011