Manager - Budgeting & Financial Analysis
Dar Al Arkan Real Estate Development Company
Total des années d'expérience :17 years, 3 Mois
• Managing monthly and quarterly management reporting for the group
• Creating forecasting and budgeting models for different projects and entity as a whole
• Analyzing the financial and operational information and recommending cost reducing solutions and other measures to maintain entity’s financial health and to improve the profitability of business
• Cash flows & working capital management and managing & overseeing the company’s banking and borrowing arrangements
• Performing feasibility analysis and financial modelling for various projects, ventures and business plans
• Assisting CFO in preparation of strategic reports and preparation of responses to the Board of Directors and Audit Committee
• Supervision of all financial tasks of the entity and ensuring beneficial use of capital and resources
• Created forecasting and budgeting models for different projects and entity as a whole
• Managed the financial reporting for the organization. This includes monthly financial reporting, budgeting and forecasting, 5-year financial plans and all statutory financial reporting
• Ensured all accounting activities comply with regulations and standards
• Analyzed the financial and operational information and recommending cost reducing solutions and other measures to maintain entity’s financial health and to improve the profitability of business
• Cash flows & working capital management and managing & overseeing the company’s banking and borrowing arrangements
• Participated in commercial decision making from tender analysis, margin analysis, pricing analysis.
• Investment appraisal and analysis
• Crafted financial strategies and conducting risk management
• Development and issuance of monthly and quarterly management accounting reports and forecasts for each business unit and entity of the group. Also consolidating Group financial reports
• Analyse the financial and operational information and results to better understand the group performance and to provide accurate and timely recommendations to finance director for decision making purpose
• Monitoring of performance indicators, highlighting trends and analyzing causes of unexpected variances
• Developing financial models and business cases to support new investment and strategic initiatives
• Involvement in defining budgeting process & tools and development of budgets and forecasts for different projects and organization as a whole
• Development of operational and financial KPIs and setting up other tools and templates to measure performance against defined objectives and targets
• Closely involved with the treasury team to ensure effective cash flow management function through tracking of material variances and constant adjustment of cash flow projections
• To Assist Finance Director in preparation for strategic reports and preparation of responses to the board of directors and audit committee
• Involvement in the implementation of the latest IFRS at individual entities and group level
• Reviewing existing processes and procedures to identify gaps and weaknesses and accordingly develop recommendations for improvement efforts.
• Issuance of comprehensive monthly management accounting reporting packs and presentations
• Development of budgets and forecasts for different products, brands, departments and overall entity
• Providing an in-depth review of all financial results and trends on a monthly basis, comparing these with a forecast, budget and prior year performance
• Development and maintenance of process for tracking weekly sales performance against the budgeted targets
• Performance of ad-hoc analysis for different products, brands, and customers covering various aspects including marketing, promotion, discounts, margins, price, etc.
• Issuance of monthly management accounting reports and forecasts for each facility and entity
• Providing an in-depth review of all financial results and trends on a monthly basis, comparing these with forecast and prior year performance
• Preparation of financial modeling and forecasts for various projects and proposed acquisitions and business plans
• Overseeing Zakat and regulatory compliance issues
• Supervision and maintenance of GL recording and bookkeeping function
• Development of budgets and forecasts for different projects and organization.
• Managing compliance with the requirements of SIDF to manage existing loans and to secure new loans
• Coordinating external audit engagement and reviewing their reports
• Management of the transition process of financial reporting and bookkeeping from SOCPA/Local GAAP to IFRS due to my extensive knowledge and experience on the subject
• Issuance of monthly management accounting reports and forecasts for each project and entity.
• Providing an in-depth review of all financial results and trends on a monthly basis, comparing these with forecast and prior year performance
• To ensure that the Company's business activities are conducted with adequate cost savings cost control and efficiency
• Preparation of financial modeling and forecasts for various projects and proposed acquisitions and business plans
• Preparation and updating of periodic budgets for all the projects and for the organization as a whole
• Contributing to decisions regarding financial strategy
• Ensuring to meet bank requirements/covenants to secure and manage financing and facilities
• Preparation and updating of periodic budgets for all the projects and for the organization as a whole.
• To ensure that the Company's business activities are conducted with adequate cost savings cost control and efficiency.
• To control and coordinate the approval process in relation to project budgets and revisions.
• To review all Purchase Orders to ensure that they are within project budget and financial limits of authority. If budget is overrun, seek approval accordingly.
• To act as check and balance authority to Project Team and ensure regular reporting.
My experience as a senior consultant in the Advisory & Assurance group of the firm has exposed me to practical implementation and complexities of the International Standards on Auditing (ISA), International Financial Reporting Standards (IFRS) and best practices in respect of corporate reporting and risk management. The professional examinations of the Institute of Chartered Accountants of Pakistan (ICAP) also include a detailed examination of these standards.
As a senior member of the group, my key responsibilities include:
Effective planning and coordination of assignments to meet stringent deadlines, including the supervision, training, review, and motivation of team members;
Conducting business and audit risk assessment through client meeting, research and analysis, and cumulative audit knowledge and documenting the results thereof;
Provision of advisory services including evaluation of internal controls and making recommendations for any deficiencies identified therein;
Developing Policies & Procedures and Standard Operating Procedures (SOPs) for different functions of the entity based on the requirements of the client;
Internal control gap analysis and preparation of to-be policies related to accounting & finance, capital expenditure, and inventory management;
Ensuring compliance with the requirements of ISA, IFRS, SOCPA and other statutory requirements of the Securities and Exchange Commission of Pakistan (SECP) and the Companies Ordinance 1984, as applicable;
Application of IFRS, Technical Standards and Generally Accepted Accounting Practices (GAAP);
Liaising with, and developing good working relationships with the clients to meet and deliver engagement expectations;
Coordination with professionals in various fields like legal, actuarial and IT experts;
Assisting client with the preparation and presentation of financial statements including significant financial statement disclosures, in the light of the relevant reporting framework and ensuring compliance with all applicable reporting requirements;
Preparation of final audit deliverables - the Audit Report, the covering letter to the Board of Directors, the Management Letter, reporting packs and other reports and certificates
Working in the AABS group of the firm has enabled me to develop a comprehensive understanding of the competitive and regulatory environments of diversified industries and the accounting and internal control systems implemented at various organizations. Moreover, working at overseas offices of EY Global has provided an exposure at an international level.
Associate Chartered Accountant at Institute of Chartered Accountant of England & Wales
I am a member of Institute of Public Finance Accountants of Pakistan, authorized to use the title 'APFA'.
ACA (Associate Chartered Accountant)