Group Financial Systems Controller
DataQuest Group Ltd.
Total years of experience :13 years, 8 Months
• Administration, integrity, maintenance, and enhancement of the group finance transactional and reporting systems globally.
• Manage the implementation of new finance systems applications and look to enhance the automation of finance tasks and other business processes.
• Preparing business cases and obtaining funding approval, project planning, progress tracking, testing, training, and post go live support for all new applications introduced.
• Manage relationships with all 3rd party finance system providers.
• Taking the lead in the annual budgeting and forecasting process and identifying key drivers of profitability.
• Responsible for Power BI and Document Management Software roll out and completion.
Notable Achievements:
• Process improvements including excel and ERP automation across multiple departments within the business to achieve efficiencies.
• Internal audit of processes and control procedures, recommendations and implementations of suggested improvements within a short period of time.
Develop and own the accounting compliance framework and manage the application of the financial regulations consistent with accounting policies, maintaining continued best accounting practice and a high standard of internal financial control.
• Developing and documenting business processes and accounting policies to maintain and strengthen internal controls.
• Responsible for the quarterly Consolidated Management Pack for the group of 4 companies
• Support overseas financial teams based in USA, Hong Kong, Lithuania & France, liaising with local auditors for compliance with local and international GAAPs for global consolidations
• Responsible for the implementation of SAP B1 across 2 entities in UK and France, as well as business intelligence software (Microsoft Power BI)
• Train and develop internal teams including Directors on the optimal use of the newly implemented accounting package, automation of process and reports.
• Investment appraisals for potential acquisition opportunities of various similar manufacturing business including due diligence of the financials, forecasts, and business structures to assess their commercial viabilities.
Notable Achievements:
• Renegotiated purchase contracts with key raw material suppliers to keep the costs low and margins in line with budget during the pandemic (a saving of 4% on direct margins)
• Overtook SAP implementation project where it was failing to meet expectations and ensured the deadlines were met and costs of implementation reduced saving £35k.
• Renegotiated contracts with the IT suppliers saving £50k on SAP implementation projects.
• Implemented monthly reporting structure to ensure the Management is provided with KPI’s on time, including training the HK team on global consolidation.
• Added £180k to the net profit line through a structured FX Hedging Strategy.
• Lead and empower the finance team to provide a high quality service to the business, and as business partners provide an efficient and effective service to the clients.
• Implementation of robust accounting policies and procedures (IFRS, UKGAAP)
• Responsible for ensuring a strong internal control environment and compliance with all statutory audit, tax and reporting requirements
• Develop and manage a team of 3 to ensure maximum efficiency and team effectiveness
• Support the preparation of statutory accounts for a number of entities in various countries
• Lead the business planning & reporting process in delivering business objectives, including periodic reporting of business liabilities including cost schedules, resource allocation and lead target setting
• Implementation of appropriate IT software more suitable to the needs of the company
• Responsible for the Consolidated Management Pack for the group of 13 companies
• Preparation of budget plans, forecasts, cashflow and finance plans for group companies and liaise with the subsidiaries for support data
• Overseeing the contract revenue recognition process for all live projects (53) in accordance with IFRS 15 (this included construction, rental and maintenance contracts)
• Attending and contributing to SLT meetings to address ongoing operational and policy issues
• Support overseas financial teams based in USA, China and Japan liaising with local auditors for compliance with local and international GAAP’s for global consolidations
• Support audit data compilation for the TAIT International Limited Group
• Cost centre reporting - on a departmental and regional level
• Financial modelling for departmental and regional P&L reporting for UK and three Asian entities
• Assist in the review and development of financial systems and processes
• Monthly reviews and Timetable Management for Finance Team deadlines
• Training and building teams operating at 6 business sites (3 in UK, 1 in Japan and 2 in China)
• Overseeing and implementing Epicor ERP across the newly acquired businesses (ongoing)
• Developing and managing a team of 8 located across multiple sites
Notable Achievements:
• Reported into 3 senior executives (GFD, CEO, CFO) looking after their reporting requirements
• Overseeing two major takeovers during the year for integrations and reporting alignments
• Implemented reporting models for the two newly acquired entities during the year (total t/o £50m)
• Automated WIP capture and other key financial reports to reduce the month end reporting cycle from 17 to 8 working days for all 13 entities
• Identified loopholes in the AP and Procurement departments successfully Implementing control procedures, writing reports in Epicor to assist the controls
• Remodeling freelancer hours booking process to help review individual project performances and to quote on future projects more accurately
• Revenue recognition in accordance with IFRS 15 - Revenue from Contracts with Customers
• Month end close procedures, quarterly and year end statutory financial reporting
• Budgeting, Forecasting and Planning for group reviews
• Rectifying errors in the books and implementing control procedures to avoid reoccurrence
• Monitoring and accounting for work in progress - driving reports to monitor the WIP flow
• Identifying and reconciling brought forward balances, incomplete records and errors
• Develop a reporting platform that allows measures and KPI’s to be visible to key employees
• Offer support to the board of directors in making informed commercial decisions
• Developing business systems and management to ensure flow of commercial information
• Identifying operational issues to help improve and develop processes to drive efficiency
• Develop and manage the finance team of 5 direct reports
Notable Achievements:
• Audited the brought forward ledgers - identified errors totaling £400k (over-recognized revenue)
• Identified revenue in backlog totaling £200k from prior years, invoiced and cleared
• Identified and amended flaws in the job approval process creating unnecessary backlog and delays
• Successfully communicated the issues with Bellrock (Wagamama) to address the above
• Implemented reporting structures - reducing month end reporting cycle through automation
• Production of Statutory Accounts and Monthly management accounts in accordance with UK GAAP, US GAAP, IFRS and FRS 102
• Ensuring all month end closures for two groups of 7 companies
• Lead and develop finance team, ensuring the team carries out work in an accurate and timely manner, whilst fostering excellent working relationships with internal and external parties
• Ensuring that the company’s financial systems are robust and compliant
• Development of systems, risk management and control procedures for governance
• Revenue recognition, accounting for deferred and accrued income, prepayments and accruals
• Responsible for credit control, cash management and preparation of monthly cash flow forecasts
• Monitoring of aged debtor balances managing debt recovery process
• Reviewing multi-currency accounts and FX deals
• Responsible for management of annual statutory audit and responding to auditors’ queries
• Providing timely and accurate financial management information, KPIs and reports to the board
• Preparing annual budget, forecasts and updates in conjunction with senior management
• Attend and contribute to management meetings and undertake any other duties reasonably requested by the Chairman and/or the FD
• Quarterly Group VAT filings for all seven companies in the two individual groups and leading any VAT/import VAT & Duty/PAYE inspections
Notable Achievements:
• Identified cost saving opportunities in the first 6 months of employment and restructured the finance department saving the company around £60k per year
• Established internal control procedures that are now documented in the company’s policies
• Reconciled the books resulting in brought forward adjustments of over $500k, devised and successfully implemented control procedures to avoid that from reoccurring in the future
• Claimed VAT repayments of around £100k from HMRC mistreated in the brought forward books of previous years.
• Compiling and presenting reports, business plans, commentaries and financial statements
• Financial forecasting and risk analysis
• Reviewing the company's systems and analyzing risk, auditing controls to check financial information and systems
• Managing junior colleagues, workloads and deadlines, business incorporations
• Responsible to see that the business is well directed to remain commercial by ensuring systematized and organized financial strategies
• Preparing financial statements and supporting schedules according to monthly close schedule
• Analyzing revenues, commissions and expenses to ensure accuracy for monthly reporting
• Preparing and filing tax returns and ensuring all legal and local Corporate Reporting requirements are being adhered to
• Preparing and monitoring Annual Budgets and Forecasts for 7 offices across 4 countries
• Reviewing and monitoring accounting process for comprehensiveness, efficacy and accuracy
• Analyzing revenue streams and give suitable suggestions and proposals in financial planning
Notable Achievements:
• Helped restructuring company's gearing, mitigating associated risks saving interest costs
• Ensured timely capital injection through banks and other financial institutions in local markets in order to support expanding business needs across the country
• Handling full spectrum of financial and cost accounting role (AR, AP, GL, forecasting, budgeting) and manage financial reporting systems ensuring compliance with all relevant regulations and legislations
• Maintaining fixed assets register for company assets worth more than £16m
• Accounting for Intellectual Property (IP), Intangible FA’s
• Prepare and submit VAT return in accordance with HMRC requirements
• Managing the stock take process and WIP stock reconciliations
• Oversee balance sheet reconciliations and ensure ledgers are well maintained
• Corporation tax calculations with appropriate tax planning tools
• Preparing annual statutory company accounts (Detailed P&L, Balance Sheet, and Cash Flow)
• Performing cash flow forecasts, budgeting and working closely with the operations and project teams in analyzing margins, variances and cost analysis, performance evaluation and reporting
• Develop and maintain internal control and effective accounting system and policies
Notable Achievements:
• Helped the company save around £6, 000 a year through cost analysis and active involvement within CTL’s operations
• Helped CTL recover around £10, 000 in relation to false warranty charges imposed by clients
• Preparing sole-trader accounts.
• Corporation tax computations.
• Double-entry book-keeping using VT Transaction Plus.
• Preparing annual/interim financial accounts for restaurants, real estate, car dealerships, supermarkets, IT consultancy, beverages and other companies.
• Bank account reconciliations.
• Handling Turkish Ankara Agreement (TAA) issues and preparing related reports,
• Administer approved budget in the form of cash flow spread to ensure smooth financial operations.
• Maintain a very healthy relationship with company clients.
• Preparing and filing detailed annual accounts to HMRC using BTC filing software.
• Preparing and filing abbreviated accounts to the Companies House website.
• Payroll computations using Payroll Manager.
• Handling client queries and other accounts related issues.
• Basic data entry, manual book-keeping.
• Bank reconciliation statements.
• Payments/expenses analysis for cash flow management.
• Setting and checking of budget targets.
• Payroll analysis.
• Quarterly VAT calculations and VAT Reconciliation.
• Filing quarterly VAT returns to the HMRC’s web-filing system.
• Credit control and preparing monthly financial reports.
• Reporting back to the management.
• Extended trial balance preparation and reporting etc.
2:1
2009 - 2011: Kaplan Financial University Association of Chartered Certified Accountants (ACCA) Fellow
2007 - 2008: CENTRE OF FINANCIAL EXCELLENCE Certified Accountant Technician (CAT) Affiliate
2005 - 2007: The Punjab School Matriculation (Mathematics (A+), Physics (A+), Biology (A+), Chemistry (A+), English Literature (A))