Umar Hayat, Finance Manager

Umar Hayat

Finance Manager

International Rescue Committee (IRC)

Location
Pakistan - Peshawar
Education
Doctorate, Finance
Experience
24 years, 6 months

Share My Profile

Block User


Work Experience

Total years of experience :24 years, 6 months

Finance Manager at International Rescue Committee (IRC)
  • Pakistan - Peshawar
  • My current job since October 2015

Responsibilities/Accomplishments:
 Working on USAID funded Pakistan Reading Project. Ensuring compliance with IRC and USAID policies, procedures and protocols, maintaining liaison with financial institutions and field staff pertaining periodic submissions, liquidation of advances & review of financial systems. Managing application of withholding tax on business support partners and reviewing payments documents for proper coding & supporting documents; ensured cost share compliance
 Performing additional responsibility as audit coordinator, assisting auditors in audit process, consolidating & analyzing monthly budget with actual reports and presenting to management for strategic decision making. Reviewing monthly BVA of KPO through variance analysis and ensuring timely submission to HO, operations coordinator and component coordinators; effectively maintaining financial records of employees and company
 Performing grants management, cash forecasting, financial controlling, cost tracking & coding of shared costs; reviewing purchase orders & purchase requests for proper coding and budget adequacy before approval. Performing periodic financial closing in compliance with checklists & schedules. Analyzing actual spending, forecasting and comparing with budget
 Reviewing & consolidating monthly fund forecasts received from each component and ensuring timely submission to central office. Reviewing periodic upload sheets for accuracy and completeness & posting in SUN system and ensuring its timely submission to central office as per schedule with supporting documents.

Finance Manager at World Learning (WL) USAID supported project
  • Pakistan - Islamabad
  • December 2013 to September 2015

Key responsibilities
• Managing all aspects of day to day operations of accounting department.
• Ensure that all finance policies and procedures are in compliance with World Learning and USAID policies, procedures and requirements.
• Coordinate with banks and financial institution with regards to project activities.
• Review payment documents for proper and adequate supporting (including PRs, PO, TER)
• Prepare staff and service provider’s withholding tax and deposit the withholding tax in government treasury.
• Review all expenditure worksheets for accuracy and completeness
• Act as audit coordinator and assist the auditors during their audit process and provide them the required information and record.
• Consolidate and analyze the monthly budget vs actual reports.
• Keep updated records of prepayments in respect to staff insurance, rents for all programs and their monthly amortization.
• Ensure all staff and program advances are closed in a month period.
• Review all Purchase Orders and Purchase Requests for proper coding and budget adequacy before approval.
• In liaison with Supply Chain departments, prepare commitment lists every month for financial obligations.
• Assist Assistant Finance Director in the month end process
• Prepare balance sheet accounts reconciliation monthly into Quick books.
• Perform physical Inventory check of all offices.
• Produce month and quarterly reports to be reviewed by the Finance and Operations Director.

Grants Verification Consultant at Canadian International Development (CIDA)
  • Pakistan - Islamabad
  • November 2013 to December 2013

CIDA-Debt for Education Conversion Project Grants verification to Capacity Building of Teachers Training Institutions and Training of Elementary School Teachers in throughout Pakistan.

Financial Consultant at Education Development Centre (EDC)
  • Pakistan - Islamabad
  • September 2013 to October 2013

• Support in close out
• Support in Operation activities in close out
• In kind Grants distribution
• Scholarship distribution
• Other Finance, Operation & Grants support

Coordinator Finance at Education Development Centre (EDC) Pre-STEP
  • Pakistan - Peshawar
  • June 2011 to August 2013

Key responsibilities

• Developing financial systems and maintaining financial records
• Prepare monthly, quarterly and yearly financial statements
• Prepare, weekly and monthly budget estimates and tracking projections/accruals
• Prepare financial reports including wire transfer
• Maintain Bank, Cash, Journal & Deposit vouchers
• Responsible or dealing with bank
• Maintaining timely deposit of tax deducted from vendors
• Preparation of staff overtime
• Making all payments to vendors
• Custodian of petty cash
• Preparation of TA/DA of all participants in workshops/ meetings as per EDC policy/Govt polices
• Preparation of TADA of EDC staff as per EDC policy
• Preparation of TA/DA of all consultants
• Support in completing the documentation with reference to audit and financial and operational policies
• Preparations of financial statements through Quick book

Operation Specialist at Academy for Educational Development (AED)
  • Pakistan - Peshawar
  • June 2009 to March 2011

Responsible for checking, verification and payments.
Assist in devising and implementing appropriate system of finance as per the management guidance and local personnel, policy of AED-Pre STEP.
Responsible for keeping the financial record as per the Academy of Educational Development.
Responsible for keeping a daily record of accounts in accordance with the Academy for Educational Development.
Prepare monthly, quarterly and yearly financial statements in collaboration with Country Office.
Responsible for making travel arrangements, including payments and bookings, for the staff and international visitors and national visitors.
Dealing with banks.
Check and verify all medical and travel claims.
Collaborate with the administrative staff in their duties including logistics, security, procurement, filing, other administrative support staff.
• Work with AED security in facilitating the transport service by keeping a schedule for the use of vehicles, allocations of vehicles and drivers for the staff for field trips and responsible for the vehicles log books.
• Assist in negotiating with landlords about rents for the premises and follow-ups the lease extension with Country Office.
• Negotiate and communicate with the local commercial community with respect to procurement of goods and services, necessary for project.
• Ensure the safekeeping of Pre-STEP Provincial Office properties and make the inventory regularly on quarterly and yearly basis.
• Develop and maintain a system, in consultation with other sections, for handling mail and filing of reports and other documents as per project policy
• Arrange all official events and functions as and when required.
• Brief and/or assist in briefing visitors on project administration,
• Maintain personnel contracts record of staff.
• Carry out other necessary tasks as assigned by the supervisor or the country management on behalf of Pre STEP, Pakistan.

Finance & Admin at Abt Associates Inc (USAID Contractor)
  • Pakistan - Peshawar
  • May 2008 to May 2009

As an Finance & Admin, my TOR are :

• Assist F & A Manager in Provision of fiscal management of the project, assuring quality, impact and cost effectiveness.
• Financial management ensuring compliance with internal, local government and USAID regulations, Abt policies, procedures and best practices.
• Record, report and monitor overall expenditures against budgets through the accounting system software.
• Review accounts payable, check receipts, prepare vouchers for payment using proper budget coding.
• Maintain petty cash, prepare cash vouchers, replenish according to established petty cash level.
• Disburse project advances and liaise with bankers for smooth financial operations.
• Monitoring and reporting financial activity of the project and compiling monthly reports in accounting system.
• Coordinate with Operations Manager for appropriate filing of inventory and assets.
• Coordinate with Manger Operations for procurements with respect to internal controls, best practices and liaison.
• Develop a Grants compliance manual for grantees including proposal procedures, required forms, and reporting formats in collaboration with Grants Manager.
• Review proposals and budgets of potential grantees, participate in the process of decisions on awarding of Grants as required in coordination with the Grants Manager.
• Create a compatible system of finance record keeping for Grants.
• Initiate and follow through on information gathering and documents needed with GOP, Abt HO, and relevant ministries on renewal of MOU, tax exemption, banking, leases, and other contracts.
• Monitor compliance of grantees through field visits and financial report review provide training and orientation to new grantees. Bring potential non-compliance issues to the attention of the F & A Manager.
• Oversee Cash flow, adherence to country tax and labor laws.
• Cooperate and assist in audit requirements.
• Other appropriate duties as determined by F & A Manger.

Senior Grants Officer at International Rescue Committee –IRC -PRIDE Project
  • Pakistan - Islamabad
  • November 2007 to April 2008

Sub-Grants

• Perform review of expenses reported by the sub-recipient organizations upon instructions from Grants Coordinator;
• Conduct training and capacity building of finance staff of sub-recipient organizations in maintenance of auditable records and compliance with terms of the sub-agreement;
• Conduct on-site visits of impact area of sub-recipients upon instructions from Grants Coordinator and report findings;
• Conduct feasibility studies for seed grants/ community self financing projects and report the same to Grants Coordinator.
• Act as financial resource person (TA) for seed grant projects as and when required. This function may be performed through sub-recipient carrying out PRIDE’s community mobilization activities or directly with the lower tier sub-recipient depending upon sub-grant mechanism being used.

Financial matters

• Ensures that all policies and procedures are in compliance with IRC and USAID policies, procedures, and requirements;
• Manages the finance department activities in the field and schedules to meet the financial reporting requirements and deadlines specified by IRC;
• Closely monitors all financial activities, and keep the Deputy Director of all situations which have the potential for a negative impact on internal controls or financial performance;
• Training and technical support to logistics and administrative staff and advice on donor requirements and IRC policies & procedures;
• Timely preparation and review of monthly bank account and cash reconciliation’s;
• Prepare and review excels spreadsheet for the bank and cash payment vouchers and adjustment for onward posting to SUN system;
• Manage finance filing system and ensuring that current record is updated;
• Processing of monthly payroll in coordination with HR Department and making timely disbursements of salary;

Accounts Manager at Virgin Drinks Afghanistan (QWO Joint Stock Company)
  • Afghanistan
  • July 2006 to May 2007

As an Accounts Manger, my achievements are :

• Responsible for all the finance and accounts functions; financial analysis and reporting, treasury, inventory control and payroll. Direct the accounting activities and work closely with department heads to provide accurate and timely information about company activities that assist management in making rational economic decisions to drive company profitability.
• Direct the preparation of standard accounting procedures; oversee the smooth and accurate conduct of the company's general accounting functions; ensure strict adherence to the chart of accounts; exercise staff supervision over accounting activities.
• Supervise preparation of monthly financial reports. Compare budget and actual figures; highlight major unfavorable variances; call attention to management of variances. Assist all members of management in the control of costs and expenses and interpretation of financial data and the control reports.
• Direct the development of annual expenses and capital expenditure budgets and submit them to management; prepare financial forecasts, cash projections and economic evaluations as required for near- term and long range planning purposes.
• Enforce budget policies, oversee budgets preparation and proactively monitor and control variances.
• Establish systems to control operating expenses. Personally monitor operating expenditures; identify ways to better control costs, initiate cost reduction programs; monitor results.
• Supervise operations related to imports and exports including dealing of Letters of Credit (Inland as well as Foreign) and Letters of Guarantee. Also deal with export rebates and Duty and Tax Remission on Exports
• Liaise for external/internal audits and implement necessary internal controls over various business processes on continuous basis.
• Heading the MIS department and coordinate for the computerization of the accounting and cost accounting functions.

Finance Manager at Ahmad Mansoor Popal Limited
  • Afghanistan
  • April 2005 to July 2006

• Direct & oversee all financial activities including preparation of current financial reports as well as summaries.
• Oversees accounting department, budget preparation, & audit functions. Meet regularly with department heads to keep informed and to offer direction.
• Reviews reports to analyze projections of budgeted expenses against final totals & suggests methods of improving the planning process as appropriate.
• Establish accounting principles & procedures
• Oversee monthly financial statements are prepared accurately within defined time frames
• Manage Company Cash flow
• Supervise & monitor all activities of Account Department
• Define internal control & there implementation within Accounts Section
• Co-ordinate with various section for streamlining the movement of source information to Accounts Department
• Correspond with banks for relevant issues
• Monitor advances and receivables
• Co-ordinate with banks & financial institutions for arrangements of financing.

Trainee Accountant at KMPG Taseer Hadi Khalid & Company Chartered Accountants
  • Pakistan - Islamabad
  • June 1998 to May 2003

Gone through an extensive Training of Auditing the Accounts for Five years under Chartered Accountants Bye Laws 1983 with KPMG Taseer Hadi Khalid & Company Islamabad Office. M/s Taseer Hadi Khalid & Co. Chartered Accountants, is a member firm of Klynveld Peat Marwick Goerdeler “KPMG” one of the big five accountancy firms on the globe.During training, I Audited the Accounts of various Organizations which included:

Non-Government Organizations Financial Institutions

International Rescue Committee National Bank of Pakistan
Trust for Voluntary Organization Habib Bank Limited
National Rural Support Programme Standard Chartered Bank Sarhad Rural Support Programme
Umeed -E- Noor
artered Grindlays Bank Ltd
Hotels & Services Manufacturing Concerns

Pearl Continental Hotel Rawalpindi Murree Brewery Company Limited
Islamabad Marriott Hotel Nizampur Cement Company Ltd
Pearl Tours & Travel (Pvt) Ltd Foundation Gas
Blue Lagoon Restaurant & Army Welfare Mess

Welfare Institutions Portfolio Audit

Army Welfare Trust Agricultural Development Bank of Pakistan
Internal Audit

Worked as Job incharge for monthly internal audits carried out for Pakistan Television Corporation (PTV), the state owned Television Broadcast Company. PTV operates through five centers and an Educational Television Channel besides having a Central Marketing Office in Karachi. I was responsible for managing audit work, review and finalization of the internal audit reports.

Trainee Accountant at Rafaqat Ullah Babar & Company Chartered Accountants
  • Pakistan - Peshawar
  • December 1996 to November 1997

During Trainee Accountant in Rafaqat Babar & Co, I was engaged under given activities:

Involved in preparation of Audit Planning Memorandum, meeting with clients, developing audit programs according to Deloitte and Touché Audit Approach, conducting audits and giving conclusion thereon to Audit Manager. Provided Accounting services to various clients, identified and reported to management, control weakness in accounting and management systems keeping in view International Accounting Standards and Companies Ordinance 1984 requirements)
Involved in development of Financial and Operational Manual which included system study, development and recommendation for activities related to Administration, Procurement, Operations, Budgetary Control, Internal Audit, Accounting and Finance.
Involved in providing corporate services to the clients on matters like registration of companies, filling of annual returns, allotment of shares, preparation of prospectus, winding-up, listing of companies on stock exchange and other secretarial practices.
Responsible for advising various clients on their tax matters like income tax returns, sales tax returns, wealth tax returns, filing of monthly statements, filing of rectification/revision application and appeals on behalf of various clients.

Education

Doctorate, Finance
  • at CPA-UK
  • April 2015
Master's degree, Finance & Accounts
  • at Preston Institute of Management Sciences and Technology
  • August 2005

MBA-Finance

Specialties & Skills

Training
Finance
operations
Accounting
• Internet
• MS Word,Excel,Powerpoint,Access
• Analytical, creative, and innovative thinking
• Teamwork and collaboration
• Management and leadership
• People, teamwork, and interpersonal communication
• Networking
• Computer, intellectual, and technology
• Theoretical skills based on accounting and finance knowledge

Languages

English
Expert
Urdu
Expert
Pushto
Expert
Persian
Beginner