Financial Controller
Al Wajeez Development Co. PJSC
Total years of experience :25 years, 1 Months
THE COMPANY: AWDC owns a state of the art District Cooling Plant (AED 1 Billion JV between Mubadala and Tabreed) providing District Cooling services to the developments in Al Maryah Island.
ROLE: Reporting to the General Manager and the Board of Directors, I handle the Financial Planning, Cash Flow, Risk Management, Budgeting, Financial Analysis and Accounting functions of the Company. Exploring possible value additions to the business and presenting strategic proposals to the management. Preparation of routine monthly Financial and Management Accounts, Analytical Reports and Presentations for the Lenders and our company shareholders, Tabreed and Mubadala Infrastructure Partners. Preparation of Investment, Financial and Operational Models for the Business to test various risk scenarios.
WORK DESCRIPTION AND RESPONSIBILITIES:
Exploring for possible value additions to the company like Refinancing, Risk Management, Business development opportunities, Cash Flow savings and presenting them to the senior management.
Preparation of Financial and Operational long-term Models to understand, analyze and proactively plan for the strategic requirements of the business and stakeholder expectations.
Coordination and discussing with Regulatory Authorities and ensuring compliance on licensing requirements and routine submissions.
Ensuring compliance with lenders requirements and covenants in relation to an AED 1 billion Facilities Agreement, and other strategic agreements with stakeholders.
Discussion and negotiation with customers on outstanding receivables and provide support for possible arbitration.
Preparation of quarterly Board of Directors presentation and reports.
Discussion with and providing information and clarifications to new and potential customers.
Preparation and analysis of monthly and quarterly Financials, Management Accounts, and comprehensive Analytical Report of Asset performance to the shareholders.
Preparation of Annual Budget, Quarterly Forecasting and 5 Year Plans.
Discussing risk management options with Banks and negotiating Hedges.
Preparation of Ad-hoc reports for Management and meetings with clients/ suppliers.
Fixed Asset Impairment testing, Accounting and Reporting.
Handling of Internal / External Audit queries and timely completion of Audit for AGA.
KEY ACHIEVEMENTS: Improvised the management reports to give more informative, analytical, dynamic, and effective Monthly Reports and Presentations. Execution of a USD 200M Refinancing deal with lenders. Entered into Hedge Agreements and later negotiated blending options with the banks. Coordination with the Department of Energy to understand the detailed District Cooling licensing requirements and submission of application. Prepared an informative, dynamic 30 Year Operational Model for the Business.
THE COMPANY: National Central Cooling Co. PJSC (Tabreed) is the leading District Cooling Co. in the region with a portfolio of 73 Plants providing 1 Million RT of District Cooling to the GCC
ROLE: As a Financial Analyst, I am in charge of Preparation, Development, in depth analysis and Reporting of the core business. It includes Budgeting, Forecasting and detailed BU-wise monthly Variance Analysis and KPI Reports along with providing high quality support to other departments as and when required
WORK DESCRIPTION AND RESPONSIBILITIES:
Budgeting, Quarterly Forecasting and 5 year Business Plan for the core Business
Detailed monthly Analysis of BU-wise performance and operational efficiencies
High level Flash figures of the Core Business to Senior Management on Day 1
Detailed monthly analytical reports and KPI slides for Management on day 5
Providing inter departmental support for queries relating to Chilled Water
Analyse, challenge and consolidate data and Models submitted by other Departments to bring out the Budget/ Forecast and Business Plan.
Discussion with Directors/ HODs to identify risks to Budget/ Forecast
THE COMPANY: National Central Cooling Co. PJSC (Tabreed) is the leading District Cooling Co. in the region with a portfolio of 73 Plants providing 1 Million RT of District Cooling to the GCC.
ROLE: The work profile is that of Finance Manager. I handle the entire Finance and Accounting Functions of multiple Subsidiary Companies, prepare the monthly Financial Reports, Presentations, and also handle Audit of the Companies. I also handle the Payables and CAPEX Reporting of Tabreed.
WORK DESCRIPTION AND RESPONSIBILITIES:
Finance Manager and ERP (JDE) Supervisory role for multiple subsidiaries
Timely preparation, finalization and analysis of Monthly Financials and Management Accounts within the given Deadlines
Preparation and analysis of Annual Budget, Quarterly forecasts with Cash Flows
Preparation of Monthly CEO/ CFO Presentations of operating results and KPIs for subsidiaries and associates along with detailed variance analysis
Handling of Internal / External Audit queries and completion of Audit
Fixed Asset Verification, Accounting and Reporting
KEY ACHIEVEMENTS: Successfully analyzed, improvised and revamped the existing Reports to bring out more informative, dynamic and effective Monthly Reports and Presentations.
Performed duties of Chief Accountant and SAP Team Leader.
Finalization of Accounts.
Coordinate financial support within or across teams, subsidiaries or regions
In charge of Profit Center Accounting system Implemented in SAP.
Preparation of Monthly Management Accounts for Senior Management.
Evaluation of Internal Controls and Improvement
Preparation of Budgets, Variance Analysis and Reporting.
Synthesize business insights for weekly, monthly and quarterly financial analyses.
Ensure compliance in SOX, IFRS, GAAP requirements.
Fixed Asset Verification, Accounting and Reporting.
Handling of Internal / External Audit Queries and Finalization.
Planning, Supervising the Annual Stock-Taking.
Supervision of Accounts Payables.
Supervision of Creditors Reconciliation and Group Company Reconciliations
Maintenance & Reporting of Daily Collections & Bank Positions to Top Management.
Monitoring Bank movement and Corresponding with Banks.
Verification of Company Petty Cash Claims, Expense Analysis to ensure adherence to Expense Policy Guidelines.
HR related functions like Off Cycle Payroll Processing, Final Settlement etc.
Analyze MIS reports for cost effectiveness and shareholder value
Communicate out of policy submissions to Employees and Management
Seek improvements in key business processes, especially those that require cross group participation
Report trends and recommend policy updates to management
Preparing management reports, trial balance, profit & loss account and finalization up to balance sheet.
Handling payroll, controlling factory shifts & overtime payments.
Control of raw material & maintenance of Perpetual Inventory System
Liaison with banks for facility arrangements.
Preparation & monitoring of cash flow statements.
Control of Overhead expenses - budget/actual variance analysis.
Evaluation of vendors supplying raw materials and grading them.
Receivables listing & review of overdue payments.
Credit control and blocking of defaulting customers.
Control of Fixed Assets and Capital Expenditure
Maintaining, Monitoring and Classification of assets location wise and custodian wise.
Periodic (half yearly) physical verification of all fixed assets of the
Company.
Reporting of results of physical stock taking of fixed assets to the
Management.
Review of fixed assets damage report and recommending to the management for further action.
Optimum utilization of Fixed Assets and avoiding idle/stagnant capital expenditure.
To liaise/coordinate with insurance companies to ensure adequacy of insurance coverage of the companies various assets and cost effective premiums with least policy deductibles.
Assisting the Finance Director in the preparation of Annual Budget and Long Term Business plans and strategies.
Debtors- Credit Evaluation, Debtors monitoring on dispatches and collection, debtors periodical reconciliation and confirmation.
Statutory Audit
Internal Audit
Special Audit
Accounting and Cost Management
Undertake Income Tax & Sales Tax assignments
Stock valuation
Preparation of financial/cost or stock statements, preparation of books of accounts (computerized or manual),
Liaison work with Govt. or Quasi Govt. Departments viz. Income Tax and Sales Tax Departments for the Client.
Experience in audit of different entities like partnership firms, limited companies, Financial Institutions up to finalization.
Internal & statutory audit of banks.
First Class