Chief Financial Officer
Human Resource Solutions International
Total years of experience :30 years, 10 Months
HR Consultant Firm Human Resource Solutions Private Limited & Human Resource Solutions International (HRSI)
Position Chief Financial Officer
Period November 2014 - to date
About HRSI: HRSI assists over 90 MNCs & Blue Chip clients in Pakistan, Southeast Asia & UAE operating in 20 different Industry verticals. HRSI is also an exclusive partner of “The International Executive Search Federation (IESF); world’s largest executive search network, with an alliance of leading executive search firms, in 40 countries and 160 cities.
Financial Information
• Responsible for accounting and financial reporting in compliance with Accounting Standards, Taxation and other regulations.
• Responsible for development of and compliance with company’s financial policy, procedures and internal controls.
Planning
• Assisting in formulating the company's future direction and supporting tactical initiatives
• Monitoring and directing the implementation of strategic business plans
• Developing financial and tax strategies
Operations
• Participating in key decisions as a member of the executive management team
• Maintaining in-depth relations with all members of the management team
• Managing the accounting, human resources, Admin, IT, legal, and tax departments
• Managing third parties to which functions have been outsourced
• Overseeing the company's transaction processing systems and Implementing operational best practices
Risk Management
• Constructed and monitoring reliable control systems
• Maintaining appropriate insurance coverage
• Ensuring that the company complies with all legal and regulatory requirements
• Ensuring that record keeping meets the requirements of auditors and government agencies
• Maintaining relations with external auditors and investigate their findings and recommendations
• Responsible for all the facets of Statutory Audit i.e., Initial Planning to Conclusion.
• Responsible for handling tax matters of various companies from submission of Return to Finalization, Preparation of tax position, advising client on tax issues.
• Responsible to provide consultancy to clients in the areas of Internal Controls, Operating efficiency, Inventory record keeping, preparation of SOP, preparation of Job descriptions.
Financial Institution Abu Dhabi Investment Authority (ADIA) - UAE
Period February 2000 to September 2013
About ADIA: Established in 1976, the Abu Dhabi Investment Authority is a globally diversified investment institution whose sole mission is to invest funds on behalf of the Government of the Emirate of Abu Dhabi to make available the necessary financial resources to secure and maintain the future welfare of the Emirate. ADIA supports employment of over 1400 employees. I have managed around USD 200 billion worth Investment portfolios. I was Leading 12 member’s team of Accountant. Key job responsibilities include:
• Monitoring of Financial Statements of Investment portfolios in accordance with IFRS and ensured there integrity and accuracy.
• Reviewing monthly and quarterly review packs/reports.
• Analyzing financial results and advising Operating and Financial risks to Investment Committee.
• Responsible for cash flow planning and ensured availability of funds as needed.
• Reviewing Swift Messages of payment to fund managers.
• Developed financial policies, procedures and controls along with other operational aspects including review of Management fees payments and development of Standard Operating Procedures.
• Developed tools to provide critical financial and operational information to the Investment Committee and make actionable recommendation on both strategy and operations.
• Provide advice and counsel to Investment Departments in areas such as contract management, transition management and operational due diligence.
• Partnering with Internal and External Auditors and UAE Central Bank Compliance Team / Department to ensure a sound internal and financial control system.
Selected Achievements:
• Trained new staff (UAE and Other nationals) to ensure they later work independently in managing assigned funds/portfolios.
• Reduced Fee and Transactions processing time by 3 days through introducing various reports from SIMCORP Database System working with IT.
• Successfully developed accounting process and procedures of ADIA subsidiary companies and provided them with ongoing consultation on critical matters.
• Made critical recommendations on various issues, resulting in Cost Saving like fee payment methodology, negotiation with fund manager for fee rates, proper utilization of credit period for payments etc.
• Introduced and implemented various internal controls e.g. designed documents checklist, transactions checklist, segregation of duties for payment transactions etc. resulted in Low Risk reports from Internal Auditor.
• Designed various Key Processing Information (KPI) templates.
Bank Mashreq Bank psc (Pakistan Operation)
Position Manager - Country Finance - Reporting to Country Manager
Period April 1997 to February 7, 2000
Department Country Finance
Directed finance and accounting team of 7 and facilitates Country Manager and Head Office, Dubai. During the 3 years, extensively worked in almost all-key areas of Finance vis-à-vis Financial Accounting, Taxation, Human Resources and Planning & Budgeting.
• Overseeing financial control function and involved in Statutory and periodic management reporting, annual budget and variance analysis.
• Reviewing and declaration of Half Yearly PLS Rates, Monitoring of Minimum Capital Requirement and Handling Remittance of Profit matters with SBP.
• Direct Interaction with Internal auditors, external auditors, SBP auditors, Income tax Officers, tax advisors and Lawyers.
Selected Achievements:
• Have significantly contributed through process/systems improvements/development and timely/effective implementation, value-addition, cost savings, etc.
• Introduced Tax History from initial period and explained tax issues to Accounts and Finance Head in Dubai.
• Handled remittance issues with SBP and first time in the history of Mashreq bank sent profit remittance to Head Office from Pakistan Operations. It was recognized by cash rewards and later promotion.
• Worked at Head Office Dubai in migration of data from old system to Oracle Based new system GLOBUS
Bank Muslim Commercial Bank
Position Assistant Manager
Period November 1995 to March 1997
Department Finance / Internal Audit
• Responsible for Half-Yearly and Annual Accounts, Independently Handling Taxation matters. Preparation of Monthly Variance Reports, Coordination with Central Bank’s and External Auditors, Compliance with Central Bank and local regulations.
Audit Firm A.F.FERGUSON & CO, Chartered Accountants.
Position Tax Assistant (May1994 - October 1995)
Supervising Senior (May 1993 -April 1994)
• Worked in Tax section: Responsible for handling tax matters of various companies from submission of Return to Finalization, Preparation of tax position, advising client on tax issues.
Supervising Senior (May 1993 -April 1994)
Job Assignments: • Responsible for all the facets of audit i.e., Initial Planning to Conclusion.
Fellow Member of the Institute of Chartered Accountants of Pakistan, completed Article ship with M/s A. F. Ferguson & Co., a member firm of Price Waterhouse Coopers (PWC).
➢ Bachelor of Commerce, University of Karachi.