Finance Manager-ME
Diaverum
Total years of experience :15 years, 2 Months
Diaverum is one of the largest independent renal care providers. Operations currently span in 20 countries and serve a patient base of more than 29, 000 individuals.
Major business of ME is in Saudi Arabia having 5000 patient contract with Ministry of Health, spanned to different locations across the country (currently 35 and progressing).
Financial Accounting
• Preparing the statutory financial statements, including liaising with the business to ensure accurate year-end provisions, adjustments and disclosures
• Handle the entire accounting activities independently including preparation and review of revenues, expenses, payroll entities, invoices and other accounting documents.
• Financial reporting based on IAS/IFRS principles, complying with local UAE laws.
Management Reporting
• Cash flow forecasting and management to support business decisions.
• Variance analysis and commentary prepared for the Finance Director to support Board meetings.
• Providing analysis and support to Business Development Team and Finance Director throughout the budgeting process.
• Presenting commentaries to the Finance Director to assist decision-making by the JV Board and Corporate Executive Committee.
Business Finance Support
• Working closely with Business Development and Mergers & Acquisitions team to identify, evaluate and devise action plans to address potential business opportunities for ME region.
• Providing in-depth analysis on the commercial viability of potential business opportunities and recommending business strategies.
Commercial Project Management
• Acted as Procurement and Supply Chain Head for latest project in Oman.
• Liaising with lawyers, bankers, key stakeholders to expedite the project implementation, set up of entity and starting business in Oman.
Accounting System Migration
• Key liaison between International Finance Managers and Business Systems team to ensure configuration of new system met business needs.
• Migration reconciliations on key areas such as fees, general ledger to ensure accuracy of migrated data.
• User Acceptance Testing to ensure smooth implementation of the new ERP system.
KEY COMPETENCIES
•Working on financial statements prepared under International Accounting Standards.
•Performing audit in compliance of International Financial Reporting Standards (IFRS) International Standards of Auditing (ISAs), and in KSA- Saudi Organization for Certified Public accountants (SOCPA) standards.
•Verifying the compliance of Internal Controls and Standard Operating Procedures and Policies
•Application of Ernst & Young Global Audit Methodology (GAM) .
• Hands on experience in:
SAP;
ERP;
Oracle Financial;
Iscala;.
Audit softwares of EY such as GAMx and CASEWARE.
KEY RESPONSIBILITIES
•Initial planning of the job and identifying risk areas and preparing audit strategy in alignment to such risks.
•Assisting audit partner and senior manager in initial audit meetings.
•Assessment of control risk and designing the tests of controls for specific areas.
•Reviewing the work done by the team members.
•Discussions with clients regarding accounting or other issues/ matters identified during the assignment.
•Preparation of financial statements in accordance with relevant IFRSs, Local laws and Statutory regulations.
•Analytical comparisons of an entity with the industry trends, competitors and prior years to assess the operational viability’s alignment with the growth and future prospects.
ASSURANCE PORTFOLIO
INDUSTRY-CLIENT NAME
a) AUTOMOBILES (Heavy Transport Vehicles and Machinery, Trucks and Contractor’s Plant)-OMATRA KSA (Orient Marketing & Trading Company-Italian based group)- a subsidiary of Al-Futtaim (Automotive Group- Sole Distributor of IVECO trucks in KSA)
b) Integrated Petroleum Waste Management Services-Global Environmental Management Services Company Limited (GEMS)-Affiliate of UE (UtilEco- the world’s ecological Utility)
c) MANUFACTURING: i)Saudi Building Systems Manufacturing Company Limited (SBSM-Pre-fabricated steel building components)-Juffali Group
ii)Yanbu Steel (Heavy Steel Fabrication and Construction)
d) TRADING (Wholesale and retail trading of medical and surgical equipment)- Arabian Medical Marketing Company Limited (Brand name-NAWAH-a company of NAZER Group of Companies)
e) MEDICAL & HEALTH (Surgical and Dialyzer for Renal Purpose Equipments)- Diaverum Arabia Company Limited-Affiliate of Diaverum Sweden
f) MEDICAL & HEALTH (KIDNEY DIALYSIS)-AMAR (Al Majd Al Raqi) Company Limited (A Company of NAZER Group)
g) CONSTRUCTION- BT Advanced Applied Technology Company (BTAT), KSA
(A Group Company of Saudi BinLadin Group)
AGREED UPON PROCEDURE ASSIGNMENTS
INDUSTRY - CLIENT NAME
a)CONSTRUCTION (Power Erection Plants, Transmission lines & Petrochemical Plants)-SEJONG CORPORATION (Subsidiary of Sejong Korea)
Assignment comprised of verification of purchase procedures, payment cycle compliance and suppliers’ balances amounting to US$ 12 million approximately.
b)AUTOMOBILE-PORSCHE (SAMACO-Automotive Division)
Assignment comprised of verification of import compliance procedure established by Porsche KSA and physical verification of Porsche units (cars).
During my stay in this firm, I have been involved in various types of assignments relating to audit and assurance including external audit engagements, internal audits, review engagements, and other assignments related to different sectors such as manufacturing concerns, service entities, financial institutions, government sector audits etc. The major tasks I performed during the audit engagements included the following:
-Initial planning of the job and identifying risk areas during the process.
-Assisting audit partner and senior manager in initial audit meetings.
-Application of Ernst & Young Global Audit Methodology (GAM) .
-Assessment of control risk and designing the tests of controls for specific areas.
-Discussions with clients regarding accounting or other issues/ matters identified during the assignment.
-Working on financial statements prepared under International Accounting Standards and local GAAPS of Pakistan.
-Reviewing the work done by the team members.
-Involved in review by the engagement manager and partner.
-Performing the test of control highlighting the issues/ matters.
-Designing the substantive procedures in consultation with the engagement manager/partner.
-Performing audit in compliance of International Financial Reporting Standards (IFRS) International Standards of Auditing (ISAs)
-Meetings with client for the resolution of various accounting issues identified in the audit.
-Preparation of other deliverables, such as, management letter identifying control weaknesses.
-Reviewing the compliance with various relevant laws.
-Verifying the compliance of Internal Controls and Standard Operating Procedures and Policies.
ASSURANCE PORTFOLIO
INDUSTRY-CLIENT NAME
a) FMCG/MANUFACTURING-K&N’s Foods (Private) Limited (Leading manufacturer and distributor of frozen Chicken Products)
b)MANUFACTURING -Transfopower Industries (Private) Limited (Leading manufacturer and distributor of electric transformers)
c) REAL ESTATE- i)TRICON DEVELOPERS LIMITED
ii) LAHORE CITY CENTRE (DHA) LIMITED
d)TELECOMMUNICATION - PTCL(Pakistan Telecommunication Limited)
e) PHARMACEUTICALS - i)STIEFEL Laboratories Pakistan (PVT) Limited for March 2008 (acquired by GlaxoSmithKline in 2008 in Pakistan)
ii) Lahore Medical Instruments (Private) Limited
f) FINANCIAL SECTOR-The Bank of Punjab (BOP)
g) Non Profit Organizations (Micro-Financing)-Development Action For Mobilziation and Emancipation (DAMEN)
h) Non-Profit Organizations (General)-Caritas Pakistan
i) Government Sector - i)Technical and Vocational Education) Technical Education & Vocational Training Authority(TEVTA)
ii)Punjab Vocational Training authority(PVTC)
j)EMPLOYEE BENEFIT FUNDS i)Jang Group (Leading media group of Pakistan)
ii)Techlogix Pakistan (Private) Limited( Leading software house, implementing ORACLE across Pakistan and Middle East)
CPA
ACA-Finalist (Chartered Accountant- 2 papers left only)