Manager Finance
Equipment Rental and Contracting Company
Total years of experience :16 years, 9 Months
BISAL is a SAGIA company involved in Equipment Rental & contracting business all across Saudi Arabia and GCC countries. I joined BISAL in February 2017 as Chief Accountant and currently heading the department as Finance Manager
Achievements
1. Improved Collection by reducing old outstanding through sophisticatedly structured and more focused approach towards AR management
2. Re-defined AP management process and ease the process for AP staff with more focus on overdue controls
3. Automated the PnL & Cash Flow forecast through the help of advanced excel and Financial Modelling
4. Converted branch performance file into one-page presentation with all the related KPI’s in one view
5. Designed KPI’s and dashboard to monitor Company performance, branch performance and departmental performance
6. Developed automated financial model for costing for project appraisals
7. Lead the IFRS & VAT implementation process
8. Developed a contract review checklist to cover company’s risks
Job Responsibilities
1. Review of Monthly management MIS submission pack with various quantitative and ratio analysis
2. Preparing annual comprehensive budgets with quantitative and amounts schedules including budget for Sales, Operations, Payroll/HR, Opex & Capex budgets and Financing
3. Supervision of the bookkeeping function on a routine basis
4. Reviewing and reporting on branch or segment performance to management with KPI’s
5. Liaison with the banks for issuance of funded and non-funded facilities
6. Preparation of quarterly performance review management meeting presentation for management
7. Evaluation of capex proposals and feasibility of projects with oil & gas sector supported with various analysis results like ROI, IRR, NPV, Payback, and sensitivity along with finance recommendation to enable management for decision
8. Reviewing of contracts ensuring organization risks should be covered in all aspects possible
9. Managing company treasury functions by preparing and monitoring monthly cash flow forecast for fund management on a day to day basis
10. Evaluation of the product pricing on periodic basis and submission to management for approval, with Finance & Sales Team recommendation
11. Regular reports preparation like Financials for Bank Submission, Bank Covenants reports, Bank Facility utilization, Fleet utilization report, Breakeven analysis, long term lease status report and any other adhoc reports as and when required by management
12. Supervision of Value Added Tax and WHT compliance from data compilation to submission of return and liaison with GAZT authorities for any queries & audit clarification required
13. Zakat & Income Tax return compliance by ensuring full provision of the data to Tax consultants for filing of Zakat & Income Tax Return
14. Coordination with Internal and External Auditor with respect to Audit schedule and information requirements
Solex Group is one of the leading agrochemicals formulator and distributor (FMCG) through its more than 2000 dealers network all across Pakistan. In Solex Chemicals, I supervised and managed a team of 11 Finance, Accounts, Taxation & Treasury team members in day to day routine Operations. Arranged training sessions for Staff to impart awareness, promoted the importance and understanding of Risk Factors & Internal control environs. During the period with Solex Chemicals, I contributed toward Organizational Growth on the following Accounts
Achievements
1. Introduced monthly financial closing and designed monthly submission financial pack
2. Rationalized and saved cost involved in sales staff vehicle fuel, branch expense, carriage outward, and demurrage cost involved in imports
3. Revamped the dealer collection process by reducing the time gap involved in collection from dealers to deposit into Company bank by introducing direct deposit into company bank by dealers
4. Improved all business process by conducting GAP analysis and BPR
5. Arranged financing for working capital requirement and long term funds project financing
6. Supported management in diversification with long term financial business plan for new business project
7. Lead the ERP, Finance & Accounts team on the development of the new business setup process, policies, forms, authority matrix and ERP system
8. Developed Fixed Assets Register of in Excel to ensure the safeguarding of assets worth PKR 889 million
9. Selected as Leader of Innovative Quality Circle team responsible for bringing improvement in overall organizational setup
Job Responsibilities
1. Steering the bookkeeping function on a day to day basis to ensure timelines of the reports
2. Developed and delegated monthly MIS format with dash boards and supervised Monthly Accounts Closing
3. Funds management by preparing monthly cash flow forecast based on collection and payment plan
4. Designed and delegated multiple receivable reports to expedite collection and to ensure follow up with sales and recovery team on the outstanding receivables
5. Determining working capital and long term funds requirement to support CFO function for funds arrangement and managing bank covenants compliance requirement, arranging LC’s and letter of guarantees as and when required by the business
6. Preparation of consolidated financial statements for the group
7. Led the budgeting process for the whole group by ensuring engagement of each department and prepared the final comprehensive budgets including BS, IS, CFS, related schedules
8. Enabled and supported management on various business decision like product mix decision, factoring, buy or replace, shutdown or continue decision, produce or outsource
9. Supported management on the new company setup with long term financial business plan and various analysis and lead the IT and ERP Team in designing the process and forms
10. Developed, implemented and delegated Cost Sharing Performa based on activity drivers to charge a fair proportion of the group common cost to each group company
11. Advising Management on the financial aspects of Business policies initiated by Sales Lead in the form of Cost & Benefit Analysis, Contribution analysis, Breakeven sales volume in units and value
12. Involved in Risk analysis and SWOT analysis exercise for organization and organizational process
13. Developed incentive scheme in consultation with management for Sales & Recovery Team and ensure periodic preparation of sales and recovery team
14. Conducted gap analysis and re-engineered business process by addressing gaps and designing SOP’s and documentation forms
15. Re-designed JD’s for all finance and accounts function staff
16. Conducted training sessions for regional accounts and store team on the controls
17. Developed customer credit form and security checks for compliance to set credit limits
18. Managing Internal and External Audit
19. Overseeing and ensuring regulatory compliance
Tanveer group is a textile group in Pakistan engaged in the production of yarn, with the capacity of more than 102000 lbs yarn production per day through two of its spinning units. I joined Tanveer group as Head of Internal Audit. I was supervising a team of 4-team members and was directly reportable to Chairman.
Achievements
1. Prepared Internal Audit Charter and Annual Internal Audit Plan for the first time in the organization
2. Developed Work programs for Junior staff members and orient them for quality of the process
3. Redesigned Internal Audit report format by adding timelines, risk significance, responses, recommendations, and follow up
4. Transformed the aged approach of transactional Pre & Post Audit into process audit based on risk significance
5. Conducted GAP analysis and re-designed forms for petty cash claims, authority matrix, purchase process, advance against payroll
Job Responsibilities
1. Surprise Stock count and cash count at Mills and head office
2. Opex and Capex Budget monitoring and variance reporting to Audit Committee and Chairman
3. Verification of Payment transaction for cotton purchase, FA purchase and other major payments above threshold
4. Review of management reports submitted to management
5. Review of reconciliation of AP, AR, Inventory, Banks, Stores and spares
6. Review of business process and system for any issues
7. Preparation of Audit Report and follow up on the issues
8. Coordination with Mills and head office for audit schedule
During the period of approximately four (4) years with “Ernst and Young”, I was involved in various assignments in Audit and Business Advisory Services. These assignments include Annual External Audits, Internal Audits, GAP analysis, Business Control Reviews, Process Reengineering, accounting manual preparation, enterprise risk assessments, SOP’s Development and special assignments. I seconded to KSA-Riyadh office for 4 months where I completed 7-companies audit in different sector.