Financial Manager
Alhokair Fashion Retail
Total years of experience :18 years, 8 Months
Budgeting and Planning
• Coordinating, developing and managing Business Plan (budget) for the entire group having operations in 17 countries and 2100 locations
• Preparing business plan for five years and making amendments according to material changes in the business or the regulations which may affect forecasts
• Consolidating the data for budget presentation to the Board, providing an overview of the financial status of all the operations
• Monitoring the budget throughout the year, analyzing actual results with budget and forecast, highlighting areas of improvement, and revised action plans
• Working on new business plan feasibilities to explore new avenues for the company
• Financial analysis, variance analysis, mapping results against KPIs, defining and quantifying KPIs for business units, business segments, subsidiary companies and holding company
Accounting
• Supervised and coordinated for monthly, quarterly and annual closure of standalone and consolidated accounts
• Supervised statutory external audit of standalone and consolidated accounts
• Supervised monthly management reporting, highlighted major reasons for periodic change in company performance
• Prepared Board presentation summarizing periodic financial results
• Preparation of quarterly, half yearly and annual financial statements in compliance with statutory requirements and IFRSs
• Preparation of consolidated financial statements on quarterly, half yearly and annually in compliance with statutory requirements and IFRSs
• Supervising half yearly and annual external audits
• Preparation of monthly management accounts, conduct monthly stewardships for performance review of all departments with profitability analysis and cost center reporting
• Implement and maintain all financial controls and systems within the business, identifying and recommending potential operational efficiencies and improvements to working practices and procedures
• Preparation of Board audit committee and Board packages
• Meeting all internal and statutory timelines for preparation, publication and circulation of financial statements
• Controlling of both Opex / Capex budgets and preparation of variance analysis
• Oversee companywide cost accounting function including raw material costing, product costing, and overhead allocations
• Dealing with Banks and Treasury for effective management of funds
• Deal with, local tax authorities and tax advisors to ensure timely decision making for all tax matters, and ensure timely filing of tax statements
• Carrying investigations/special assignments to identify process deficiencies and recommending controls for improvement of business processes
• Review SOPs and risk identification for all the departments entity wide
• Prepare and maintain an internal audit plan to access non-compliance, process weakness, and make recommendations to improve process efficiencies and effectiveness
• Carrying out operational audits to assesses the adequacy and effectiveness of internal controls and processes, reliability and integrity of financial and operational information
• Review of entity wide business policies
• Supervising internal audits and reviews, and producing reports that highlight audit findings and issues, making recommendations to improve the efficiency, effectiveness of internal controls for presentation to the Head of Audit, Risk & Governance
• Developing and maintaining the Internal Audit plan that assesses the adequacy and effectiveness of internal controls and processes, reliability and integrity of financial and operational information
• Undertaking/reviewing and updating the Enterprise-wide risk assessment (EWRA)
• Reviewing special assignments/investigations
• Preparing and updating departmental budget, policies & procedures manual
• Maintaining current internal auditing knowledge in order to contribute to the development and continuous improvement of internal auditing methodologies, processes and services
Allied Bank Limited
ORACLE Hyperion implemention: a budget planning, monitoring and control tool at organisational level.
MCB Bank Limited and The Bank of Punjab-Implementation of COSO Framework and Development of an Effective and Efficient Internal Audit Function
Gulistan Group of Companies-Business Process Reengineering
Following are the major clients relating to audits and reviews:
• MCB Bank Limited
• Honda Atlas Cars Pakistan Limited
• Kashf Foundation
• Paramount Stitching Mills Limited
• Contributed towards various cash management arrangements with different banks.
• Calculation and verification of financial charges for cash management arrangements with various banks.
• Preparation of bank reconciliations of accounts maintained with different banks by PSOCL.
• Structured cash management arrangement for PSOCL with Citi Bank, Standard Chartered Bank and MCB Bank Limited.
• Team member in SAP (Treasury and cash management module) implementation and successfully dealt with all pre and post implementation issues.
• Trained department personnel for treasury and cash management module of SAP.
2011 Chartered Accountant (ACA-Pak) – associate member of Institute of Chartered Accountants of Pakistan 2005 Chartered Certified Accountant (FCCA-UK) – fellow member of Association of Chartered Certified Accountants 2014 Masters – UK 2005 Bachelors in Applied Accountancy (First Class-Hons.) – Oxford Brookes University, UK 2003 A Levels – Cambridge University, UK 2001 O Levels – Cambridge University, UK