Chief Financial Officer
RGM International Group
Total des années d'expérience :26 years, 7 Mois
The Company ( RGM International Group LLC (www.rgmig.com). is engaged to supply and install electrical projects of transmission line, substations, hydro and solar power systems, distribution and city networks . RGM Group has over 300 employees.
Responsibility:
I am reporting to Chairman responsible to provide leadership, technical assistance and guidance to finance teams located at Dubai, India, Pakistan, US and Kabul. Also acting as CEO and Director for RGM Pakistan operations which are recently started.
Prepare and manage business plan and budgets for the projects, companies and as a whole group.
Review, analyze and comment on monthly, quarterly, and annual financial statements (BS, P&L and Cash Flow) including consolidated accounts in compliance with IFRSs and Corporate laws.
Attend strategic meetings of the Board and give necessary advise for all strategic matters on corporate issues, expansion matters, Human Resources and make necessary plans to implement the same.
Reviewing cost cutting technique with the management and ensure to implement.
Reviewing and give appropriate advice and approval for various operational matters including Finance, Accounts, logistics, insurance, projects expenses, Human Resources, IT.
Reviewing corporate, commercial and Taxation matters for operations of India, Afghanistan, US, Pakistan and UAE offices.
Setting KPIs for the finance and accounts departments and present management reports to Board on timey basis.
Prepare reports on project evaluation of projects and highlight the variances in estimated and actual costs of the projects. Ensuring that project reports showing appropriate cost centers for materials, Labour and overheads for necessary decision making of management.
Review the commercial matters of new contracts of the company before signing and negotiate with prospective customers before signing. Reviewing the Joint Venture agreements and arrive at various feasible terms and structure for the company.
Coordinate with engineering department at top level to ensure that cost and revenue, outflows and inflows are properly taken care and discussed.
Liaise with the banks and financial institutions for the project specific financings, LC, bid Bonds, performance and advance payment bonds and prepare the financial projections for the banks, management for new projects and as a whole for all projects and companies.
Liaise with Departmental Heads, External Auditors, Bankers, Regulators, Lawyers & Tax Consultants, customers, suppliers and other stakeholders for various important matters.
Generate monthly management reports, analyze variances and comment on results.
Leading the training / development agenda for finance team. Organizing workshops, courses and best practices sharing sessions.
Follow up for overdue receivables with the customers and ensure timely payments to creditors by doing proper planning.
Continuous monitoring on matters affecting bottom line / profitability.
Liaise with other departmental heads, external auditors, bankers, regulators, lawyers and tax consultants.
Notable Achievements/ Contributions/ Awards
Finalization of ERP for the group companies and implementation of the same.
Setting up of Subsidiary companies in India, Pakistan, US.
Board nominated me CEO for RGM Pakistan.
CEOs for RGM India and RGM Kabul both are reporting to me for financial, commercial, contractual ( other than technical) and other relevant matters and getting necessary approvals.
Setting of pole manufacturing company from inception and monitored corporate and financial accounting system and worked with IFC, a wing of World Bank.
Chief Coordinator for ISO certification
The Company is engaged in manufacturing, processing and sale of textile products and has over 600 employees. The Company exports its products to USA and European countries. Mohammad Farooq Textile Mills Ltd. (www.mohammadfarooq.com). I was managing a team of 22 professionals of accounts department.
Responsibility:
As Manager Finance and as Company Secretary, I was reporting to Chief Executive Officer, responsible to provide leadership, technical assistance and guidance to finance team, prepare and manage business plan and budgets.
Update quarterly forecast in coordination with departmental heads as budget holders.
Generate monthly management reports, analyze variances and comment on results.
Give sanctions on payments before their incurrence and recommend appropriate action in case of non-compliance; finalize monthly reports including KPIs for presentation to Chairman and CEO.
Prepare monthly, quarterly, and annual financial statements (BS, P&L and Cash Flow) including consolidated accounts in compliance with IFRSs and Corporate laws.
Liaise with other departmental heads, external auditors, bankers, regulators, lawyers and tax consultants.
Attend Board Meetings as a Company Secretary and advise on various corporate matters, code of corporate governance and correspond with Karachi Stock Exchange and Securities & Exchange Commission of Pakistan.
Burj Bank ( formerly Dawood Islamic Bank) is a Commercial Bank licensed by the Central Bank of Pakistan.
Responsibility:
As Vice President Investment Banking Department, I was reporting to Senior Executive Vice President, responsible to oversee investments of the bank, presentation to the investment committee for approval and ensure smooth returns.
Constantly evaluate methods and process to improve turnaround time for the department.
Review the outstanding advances on a monthly basis for follow up and necessary action.
Recommend Investments in various bonds, shares by considering the repayment capacity of the investee company, maturity period, rate of return, etc.
Assist Investment banking department in finalizing their transactions of project financing, syndication, projections, Underwriting of Public Issues, preparation of projected financial statements and other financial advisory related matters.
Notable Achievements/ Contributions/ Awards
Performed responsibilities as coordinator of the Investment Committee (Apex Body) of the bank and presented proposals for approval.
I was instrumental for establishing Financial Advisory Department and preparation of policies and procedures for financial advisory, project financing, Sukuk (Bonds) and syndication.
Deloitte & Touche is among the Big 4 Chartered Accountants firms worldwide. Deloitte provides multiple services of Audit, Financial Advisory, Tax and Consultancy.
Responsibility:
As Assistant Manager, I was reporting to Directors and Partners of the firm, responsible to plan and execute the audit work of various large listed companies, supervised the audit and special assignments of various companies involved in construction industry, aviation, trading, financial sector, sugar, leather, steel, textile sectors (List of clients can be provided if requested).
Ensure compliance of IFRS- International Financial Reporting Framework and guidelines of Deloitte in executing assignments. Conduct internal and external audits of corporate entities, feasibility studies, and business plans.
Notable Achievements/ Contributions/ Awards
Prepared financial projections of Tuwariqi Steel Mills Ltd, in accordance with Gas Tariff agreed with the Government of Pakistan
Due Diligence of PSO (Pakistan State Oil Company Limited) on behalf of Dabbagh and Savola Groups of Saudi Arabia.
Due Diligence of one of the segments (TGS) of Pakistan International Airline (PIA) Company Ltd, Sign Source, Nakshbandi Textile Mills and United Mobile on behalf of prospective buyers.
Prepared strategies for merger and acquisition of merging and surviving entities and computed swap ratio of textile and financial sector companies and advised valuation strategies thereof.
Assisted in listing and completion of formalities of IPO of Sitara Per Oxide
Prepared feasibility reports / financial projections of an investment bank namely Gulf Credit Ltd and a Leasing Company for TII- Kuwait.
Worked as Audit Manager / Head of Review and Risk Department in HES Chartered Accountants Dubai UAE, reported to the Partner. My job responsibilities included as follows:
• Review financial statements, external audit reports, feasibility reports, and ensure compliance of International Financial Reporting Standards.
• Conducted and supervised external and internal audit of the companies specifically in construction sector, foodstuff, general trading, hotels, consulting companies etc.
• Ensure compliance of statutory requirements of Federal Commercial Company Law, labour laws and International Financial Reporting Standards in all financial statements, reports and certificates.
• Finalize the financial statements (balance sheet, profit and loss account, cash flows) and composed the Audit Report based on findings of the audit observations
• Reviewing, testing and monitoring the system of internal controls of Finance, Procurement, Marketing, Warehouse and production departments and identified recommendations to improve the same.
Deloitte & Touche is among the Big 4 Chartered Accountants firms worldwide. Deloitte provides multiple services of Audit, Financial Advisory, Tax and Consultancy:
Responsible to plan, execute and finalize external (statutory) audits & assurance, internal audits of different local and multinational organizations
Ensure compliance of IFRS, International Auditing Standards, US GAAP, Companies Ordinance, Stock Exchange regulations, Code of Corporate Governance, pronouncements of Securities & Exchange Commission of Pakistan and other local rules and regulations
Performed analytical and substantive procedures so as to determine the financial statement assertions
Review of work carried out by sub-ordinates and train and advise wherever necessary and finalize the audit reports.
Carry out special assignments of fraud detection on behalf of shareholders of various entities.
Sales tax audit on behalf of Government of Pakistan for detection of fraudulent refunds.
A few clients served are given hereunder:
• Manufacturing Sector (Cement, Sugar, Textile, Cables, Steel): Lucky Cement Ltd., Nagina Cotton Mills Ltd, Al Abbas Sugar Mills Ltd, Pakistan Cables Ltd. Tuwairqi Steel Mills Ltd, Al Abbas Steel Mills
• Government-Owned Corporation (Airlines, Insurance, Leasing, Health, Housing): Pakistan International Airlines (PIA) Company Ltd., State Life Insurance Corporation of Pakistan, National Development Leasing Corporation, Valika Hospital Karachi, House Building Finance Corporation Ltd
• Financial Institutions (Bank and other financial institutions): MCB Bank Ltd., B.S.J.S. Modaraba, First Prudential Modaraba, JS Abamco (Asset Management Company Ltd)
Notable Achievements/ Awards: An “Outstanding Performance and Dedication Award” for the year 2000 from Deloitte & Touche.
Degree awarded by HEC Islamabad
I am associate member of ICAP- Institute of Chartered Accountants of Pakistan
I am fellow member of PIPFA- Pakistan Institute of Public Finance Accountants
I am fellow member of ACCA- Association of Chartered Certified Accountants of UK