Finance and Accounts manager
Bhatia brothers
Total years of experience :16 years, 10 Months
o Reported to Chairman; prepared and managed budgets, forecasts and financial reports for Executive Management; reported on annual sales revenues of AED 195 M and Operating Expenses of AED 37 M
o Define and implement financial strategy and corporate level strategy for the organization.
o Performed in-depth analysis of performance by using key performance indicators (KPI), at department and individual level and perform a cost benefit analysis and report the variance and help concern department to implement the same. Actions taken resulted in savings of more than AED 6 ML of cost from 2015 August to 2016 Oct
o Improved forecast accuracy by more than 30% on various expense and income items by analyzing and using performance metrics, historical results, budgets, and trends
o Partnered with Operation, Marketing, Supply & Logistics and Merchandising teams to prepare annual operating budget; assisted with sales and expense target setting calling out risks and opportunities; achieved high approval rate in record time
o Executed comprehensive analyses of monthly performance and contribution across all regions, analyzed financial and prepared the monthly executive package with reports, written analyses of key variances both at the field and corporate level and explaining causes of fluctuations
o Forecasting revenue for the company monthly, quarterly, annually and compare with the actual performance and defined budget for the said period find out the causes of deviation and advice the concern people about the situation and handling revenue booking process .
o Proper forecasting of CAPX and OPEX. Validated all the Invoices and supporting document of capital and revenue expenditure starting from requirement checking to approval of the expenses after checking the budgetary constraint .Monitor entire process of CAPX and OPEX planning and An Active member of Cost control team and cost restructuring team
o Facilitated preparation of weekly, monthly, quarterly, rolling 12-month operational forecasts and 5-year strategic forecasts at the regional and enterprise levels; assessed and summarized risks for senior management.
o Handling enter Accounting process finalization of profit and Loss account and consolidated balance sheet and facilitate the external audit
o Active member of Insurance negotiation committee.
o Taking a active part in the internal audit committee and facilitate and perform internal audit for different division and for the whole enterprise
o Maintaining the 150M Banking Facilities for Working Capital Requirement, Responsible for maintaining good relationship with Leading Banks in Abu Dhabi & Dubai .Responsible for bank facility renewal documentations and correspondence required by RM
o Maintaining and monitoring of Daily cash flow Position, Control Statements like LC, Acceptance and TR and Invoice discounting and maintaining project wise cash flow statement. Arranging alternative sources of finance(project financing etc)
o Preparation of Projected fund flow statement based on the expected collections and expected commitments/payables including statutory payments on monthly/quarterly/yearly intervals.
o Negotiating with Bankers regarding the Processing Fees, Bank Transaction Fees for import/export and Interest Rates and exchange rates negotiating with bankers treasury for imports/exports
o Use hedging to mitigate financial risks related to the interest rates on the company's borrowings, as well as on its foreign exchange positions. Monitoring foreign exchange gain or loss for the balance sheet period
o Preparing all bank covenant report and other document as per bank facility agreement.
o Availing credit facility (Additional) for executing new projects/orders.
o Analyze financial performance against key business metrics and document pertinent financial highlights that will enable management to determine progress against budgets.
o Closely working with Insurance Company for better rate and policy coverage.
o Preparing Annual operating plan and budget at circle and hub level, Monitoring Proper Allocation of budget and Analyze the variation
o Preparation of Review Report on Monthly basis with regard to Revenue, OPEX, CAPEX, MOU, Gross addition, Churn, Subscriber base etc for prepaid and postpaid.
o Forecasting of expenses and revenue at circle level, prepare reports and present in front of top management and coordinating with other departments to build up future plans and strategy
o Handling Channel partners profitability, Analyse them suggest them proper strategy to increase their profitability
o Cost Reduction and cost management including Network Cost and IT Cost
o Responsible for proper booking of Expenses and Revenue keeping the budgetary constraint and prepare a GAP analysis of budgeted and actual and present in front of top management and take preventive action to full fill the Gaps
o Preparing Flash report and present to top management. Responsible for period MIS.
o Preparing profit & loss account and cash flow statement (actual and projected both) at circle level
o Analyse different process of the company and find out violation in process and take corrective action to have control over the process.
o Responsible for Vendor reconciliation, Customer reconciliation, Bank reconciliation and Security deposit schedule and Commission pay out
o Checking and validation of bills and responsible for processing with in SLA
o Prepare Annual operating plan for all the function of the company
o Manage corporate planning, Budgeting, forecasting variance analysis, and reporting process (monthly and quarterly) and corporate performance reporting process
o Preparing CAPEX and OPEX analysis report and preparing a proper forecasted CAPEX and OPEX budget with consultation to the concern department and provide Feedback to management. Preparing/reviewing management review business report for board member.
o Preparing Balance Sheet, Cash-Flow, fund flow Statement (Actual and Forecasted)
o Preparing Flash report and present to top management. Responsible for Adhoc Report
o Preparing Reports and MIS on Daily, weekly, Monthly basis
o Perform revenue, cost and Expenses analysis. Provide Periodical revenue forecast to top management
o Responsible bills validation and bills processing
o Manage revenue and expenses booking process
o Monitoring books of accounts, Booking and provision
o Preparing data for audit and follow-up with auditor for the smooth completion(Interim and final)
o Banking related issue
o Responsible for Intercompany reconciliation(Payable and receivable)
o Preparing Annual operating plan and budget at circle and hub level, Monitoring Proper Allocation of budget and Analyze the variation
o Preparation of Review Report on Monthly basis with regard to Revenue, OPEX, CAPEX, MOU, Gross addition, Churn, Subscriber base etc.
o Forecasting of expenses and revenue at circle level, prepare reports and present in front of top management and coordinating with other departments to build up future plans and strategy
o Analyzing revenue and prepare reports on this
o Competitors analysis and business environment analysis and present them in front of top management
o Responsible for proper booking of Expenses and Revenue keeping the budgetary constraint and prepare a GAP analysis of budgeted and actual and present in front of top management and take preventive action to full fill the Gaps
o Preparing Flash report and present to top management
o Preparing profit & loss account and cash flow statement (actual and projected both) at circle level
o Cost Reduction and cost management including Network Cost and IT Cost
o Preparation of Pre-paid Revenue & Post-paid Revenue Reports for Circle to find out the key indicators for the growth of revenues and forecasting the same for the future.
o Analysis of different GLs and prepare provision of those expenses, book those expense in SAP, Analyse different process of the company and find out violation in process and take corrective action to have control over the process.
o Prepare daily, weekly and monthly MIS Responsible for Vendor reconciliation, Customer reconciliation, Bank reconciliation and Security deposit schedule and Commission pay out
o Checking and validation of bills
o Responsible for bill processing
o Process all Vendor payments and maintain The SLA
o Product feasibility Testing for post-paid and prepaid both