Assistant Manager- Receivables
Lamprell Energy Limited
مجموع سنوات الخبرة :10 years, 4 أشهر
Key Achievements:
Acknowledged for reducing receivables from $485 Million to $95 Million, which ultimately reduced DSOs to 50days and under.
Automated account receivables related balance sheets schedules.
Reviewed, implemented and kept updating enhanced credit policy & procedure in line with business requirements.
Played key role in setting up account receivable module in Oracle ERP and in developing new process to capture VAT on invoices.
Key Responsibilities:
Managed a portfolio of 350plus customers (Local / International) and 20plus A+ rated insurance brokers and underwriters.
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Followed up with the customers and visited them to understand issues faced by them in paying their obligations. Agreeing a payment plan/ schedules in case of delinquent customers.
Ensured that all the customers remain in line with their credit terms.
Ensured a complete customer credit back ground check/ reference is obtained from the market to assess the exposure.
Conducted financial due diligence of new customers. Liaised with D&B’s ME team to collate further information of potential customers.
Conducted meetings between legal counsels on monthly basis to review status of bad debts. Collated and submitted legit supporting documents for legal actions.
Ensured submission of statements, invoices, credit notes, payment request letters and legal letters to customers on timely basis.
Conducted debtors review meeting with project teams and senior management across the group for identification and elimination of any bottlenecks on fortnightly basis.
Reviewed and approved all account receivables and insurance related month end entries (revenue recognition, re-class entries for Due to/ from, retention, debtor’s revaluation and insurance accruals), on monthly basis.
Managed internal and external audit process for account receivables and group insurance seamlessly and within deadlines.
Consolidated and reconciled inter-company accounts and managed complex reconciliations.
Monitored debtors aging report on daily basis. Managed the filling of Withholding Taxes.
Ensured approval of account receivable invoices, insurance accruals and other Journal Vouchers on daily basis.
Assessed balance sheet accounts (related to AR) at the end of every month and recommended effective remedial measures/ re-class to the senior management based on gaps.
Prepared, maintained organizational cash in-flow forecast on monthly basis aligned to operational and financial requirements.
Liaised with other departments, external partners including customers, insurance consultants/ brokers and under writers for maintaining seamless operations.
Followed up with stakeholders to accomplish monthly cash collection targets to reduce DSO. Ensured provisioning of doubtful debts and write-off of bad debts with legit supporting documents.
Assessed collections forecast Vs actual on daily basis.
Assessed and finalized LC terms and conditions; negotiated performance bond and advance payment guarantee terms with banks for seamless operations.
Reviewed performance of the team with the assigned KPIs on quarterly basis. Provided the team with necessary training, development and supervision.
Key Achievements:
▪ Played key role in the implementation of BuildSmart ERP.
▪ Successfully reduced receivables from AED 325 Million to AED 187 Million (end of Jun 2015) utilizing financial prudence and
managerial acumen.
Key Responsibilities:
▪ Focused on submission of company’s cash in-flow forecast, in timely manner.
▪ Managed a team of two debt collectors cum accountant receivables.
▪ Assisted the Financial Controller in managing day to day financial transactions, preparation of board pack and other relevant
reports in compliance to various statutory regulations.
▪ Interacted with clients on due payments, release of PBs and Aps/ guarantees and for resolution of disputes for maintaining
seamless operations.
▪ Visited the customers with debt collectors to reduce DSO on as and when required basis.
▪ Guided the QS team and debt collectors in accomplishing monthly collection targets.
▪ Submitted balance sheet schedules related to account receivables on monthly basis and other Ad-hoc reports as and when
required.
▪ Highlighted critical issues and other operational bottlenecks with potential business and revenue impact to the senior
management to enable effective decision making.
Key Achievements:
-Successfully recovered almost 70% of very old bad debts, dated back to 1998 leading to significant reduction in overdue / bad debt figures.
Key Responsibilities:
-Ensured submission of collection forecast on monthly basis and guided the credit control team in maintaining monthly collection targets.
-Led a team of 1 debt collector and 21 cashiers in managing business operations across different locations in Dubai, Sharjah and Northern Emirates.
-Followed up with various stakeholders in ensuring submission of statements, invoices and credit notes to the customers
-Interacted and made visits to customers to ensure their outstanding remains in line with the credit terms and other contractual parameters. Resolved customers issues aimed at enhancing customer satisfaction.
-Ensured provisions against bad debts on monthly basis. Assessed credit application forms and assigned credit limits against each customer post management’s approval.
Key Responsibilities:
-Maintained regular interaction with customers for resolution of disputes and recovery of debts as well as reconciliation of customer statements.
-Updated and assigned credit limits against each customer account based on discussion with Finance Manager, Area/ Sales Manager, COO and CEO. Ensured weekly provisioning based on debtors ageing.
-Prepared and presented various status reports for the senior management and other stakeholders to enable effective decision making.
72% MARKS OBTAINED.