Deputy General Manager (Finance/IT/HR)
Logistics Company
Total years of experience :40 years, 1 Months
Responsible for the overall financial management activities encompassing treasury, financial control, procurements, and the provision of reliable and valid financial reports at the corporate level. Further, ensuring financial accounting systems are developed, implemented, and maintained in accordance with the company’s financial policies and legal requirements. Also responsible for managing the Human Resources and Information Technology. Reporting to CEO and the Board of Directors.
Responsibilities:
• Develop, implement and monitor financial vision, goals, policies and procedures that will ensure integrity of the organizational objectives.
• Lead the annual budgeting process and ensure credibility for the finance function by providing timely and accurate analysis of budgets, financial reports and financial trends. Further, assists the MD, GM, management team, and relevant stakeholders in performing their responsibilities in line with the corporate strategy and advices them on financial transactions and commitments.
• Coordinate closely with the Finance Director to continually analyze company operations, and pinpoint opportunities and areas that need to be expanded, reorganized, downsized or eliminated.
• Studies long-range economic trends focusing on the transport industry and project company prospects.
• Develops and Monitors key financial performance indicators and disseminates appropriate financial information to functional heads for decision making.
• Oversee and manage the general accounts and treasury functions.
• Enhance and maintain policies and procedures of the organization
• Assist and manage the HR function.
• Manage the IT Department
• Responsible for the annual audit and production of the annual accounts and to contribute to the annual report Assesses the external auditors annual performance and feeds back to the Finance and the Audit & Risk Management Committees.
Leading the global internal audit team, ensuring submission of audit reports to the Audit Committee and closing all audit issues within set timelines:
• Planning, organizing and coordinating the internal audit of corporate functions, domestic and overseas branches and subsidiaries and leading the internal audit team;
• Determining the audit universe jointly with all stakeholders and ensuring an effective risk based audit.
• Determining the scope of the annual internal audit in accordance with the priorities set by the Audit Committee.
• Developing the annual internal audit plan
• Conducting the audit in coordination with outsourced internal auditors.
• Undertaking process analysis and assessing internal control jointly with the outsourced auditors.
• Reviewing financials of the company and its branches and subsidiaries; undertaking trend analysis and other data analytics.
• Coordinating with on shore and off shore operations team during the course of audit for submission of audit information in time and to facilitate the audit tasks.
• Reviewing audit report and finalizing the same with the outsourced auditors.
• Preparing quarterly presentations to the Audit Committee
• Identifying the open issues, tracking and monitoring open items and follow up for closure;
• Discussing open audit issues with the Cross Functional Team, formulating action plan for implementing corrective action, monitoring implementation of the plan and following up for timely implementation.
• Conducting internal audit of overseas branches and subsidiaries in US
• Determining the scope of work of the outsourced auditors and preparing the Letter of Engagement of the outsourced internal auditors.
• Reviewing the accounts of Indian subsidiaries, determining the audit universe, preparing the TOR for the internal auditors and selecting the auditors (pertaining to subsidiaries in which internal audit have not been conducted)
• Managing special projects
Part of top management and heading the finance, administration, purchasing, inventory & IT functions :
• Developed an integrated financial system; developed the Business Requirements Document, selected software vendors, ensured smooth data migration and transition to the new system; arranged connectivity with remote units;
• Organizing revaluation of the company’s fixed assets.
• Development & implementation of a product costing system and budgeting system.
• Development and implementation of an integrated management reporting system showing plant performance, product profitability and financial indicators; development of manuals
• Analyzing capital expenditure proposals relating to new product line and plant & equipment.
• Undertaking risk assessment and arranging for apprpriate cover.
• Preparing ISO procedures & conduct ISO audits.
• Cash forecasting and managing allocation of funds.
• Preparation of financial statements and arranging audit; submitting monthly management reports to the Board of Directors that pertained to financial performance, product cost & profitability, departmental KPIs and plant performance.
• Advising management on cost reduction and developing cost reduction programs.
• Supervising and monitoring payments & debtors follow up, administering the process of payments, sales contracts and arranging letter of credit, bank guarantees / performance bonds as per organizational policies and procedures.
• Managing all HR and administrative functions including recruitment, training, payroll, leave & time keeping & statutory compliances as per Bahrain Labour Law.
• Designing and implementing a productivity-linked reward system for the employees for optimizing productivity and employee satisfaction.
• Monitoring inventory control practices; authorizing and monitoring purchases.
• Managing, coordinating and authorizing all IT activities
Part of top management and heading the finance and accounting functions and reporting to the Executive Director and Chairman :
• Supervision of the routine activities of the finance and accounts department
• Development & implementation of a new integrated financial system; developed the Business Requirements Document, selected software vendors, ensured smooth data migration and transition to the new system.
• Developed and implemented aircraft operating costing system; prepared cost reports and variance analysis; advised the Board on cost reduction.
• Developed and implemented comprehensive and integrated management reports showing aircraft operating cost, flight profitability, revenue generation, break even point and financial indicators.
• Carry out essential financial planning & business review, providing strategic and financial assistance to the Board of Directors for achieving organizational goals and objectives.
• Supporting management in assessing JV, disinvestment projects, sell offs and advising Chairman and senior management on major financial issues & conferring presentations to the Chairman & the Board of Directors.
• Accountable for negotiating with foreign banks for aircraft credit facilities as per the terms, conditions and budget targets (including oversees bankers - Barclays, RBS, Credit Suisse) and making presentations; manage credit facility agreement with these banks on an ongoing basis.
• Funds management; preparing cash forecast and cash flow statement; and planning allocation of funds.
• Undertaking risk assessment and arranging for appropriate insurance cover; lodging and administering claims.
• Preparing annual budget pertaining to the organization and presenting to the Board of Directors.
• Preparing interim / annual accounts and liaison with auditors; ensure adherence to IFRS.
Playing a key role in conceptualisation and implementation of financial management reforms projects encompassing project planning & monitoring, resource planning, monitoring and reviewing progress, preparing Project Charter.
Preparing guides & manuals on Performance Measurement, Activity Based Costing and PPBS.
Preparing Requests for Proposals from Software Vendors & Consultants; TOR for Project Consultants, MOU & Consultancy Agreements.
Stellar role in other reforms projects undertaken by Mckinsey, IIEP/UNESCO, World Bank, etc.
Rendering technical advice & assistance on matters pertaining to financial accounting, costing, budgeting, investment appraisal & on other matters related to financial management/ management accounting.
Co-ordinating within Ministry of Finance for implementing various financial management reform projects.
Conducting detailed analysis & reviewing accounting & reporting systems of government ministries & agencies.
Developing & designing systematic methodologies & framework for appropriate costing, accounting & reporting systems.
MAJOR PROJECTS;
1. Program & Performance Budgeting System (PPBS) Project
- Project involved design and development of PPBS for Ministries of the Government
- Role: Developed PPBS Model for Ministries of Health & Education and managing pilot implementation.
2. Activity Based Costing System Project for Civil Aviation Affairs
- Involved design and development of ABC system for Navigational, Meteorological & Airport Services
- Role: Developed an ABC Model using Easy ABC Plus Software
3. Financial Management Information System Project for Government Printing Press
- Involved design and development of an integrated system for financial accounting, costing, budgeting, production scheduling & monitoring and inventory control
- Role: Designed the model and implemented using SQL Printcafe software
Led the team of 15-20 Accounts Personnel in Finance & Accounts Department of Profit Centers for preparing and submitting financial statements, business plans and management information reports.
Handled accounting operations of 36 domestic branches & sales depots present across the country dealing in sales and distribution of products.
Assisted and advised the Chief of Profit Center in exercising effective budgetary control and reducing costs; preparing Cost Reduction Program and in formulating production, sales & inventory plans.
Prepared a wide range of management information reports including Cost Statements, Cost Variance Report, Product Wise Net Realization Statement, Customer-wise Profitability Statement, Performance Report and Executive Information Report.
Distinction of designing and developing systems for various divisions of the organisation including;
- Integrated Management Information Report for the Raw Materials Division
- Financial Accounting, Costing, Budgeting & Management Reporting System for Engineering Division.
- Executive Information Report for the Marketing Division
Played a pivotal role in establishing & organizing the Accounts Department of new profit centers.
- Developed financial accounting, costing, budgeting and management reporting systems of the new cement profit center.
Actively participated in Special Committees & Panels including Tender Committee, as a nominated member.
Represented the company & actively participated in Road Shows organized for marketing company’s Bonds, as Regional Coordinator.
• Preparation of monthly financial statements.
• Reconciliation of Current Account.
• Preparation of Quarterly Performance Budgets.
• Monitoring Performance Budgets, analysis of variance & reporting to management on overruns.
Undertaken audit of leading private sector companies engaged in manufacture of electrical & electronics goods, tea, chemicals & consumer goods.
• Preparing & consolidating budgets and assisted management in exercising effective budgetary control.
• Preparing Cost statements & analyzing cost variances.
• Preparing management information reports.
• Dealing with bank guarantees and letter of credit.
• Complying with sales tax laws
Passed with 55% marks on the aggregate
Passed B.Com (Honours) securing 59% marks on average and 78% in Advanced Accountancy
Passed the Senior Cambridge Examination securing 13 points ( 68% average) with 80% in Accountancy.