Accountant Takaful
National Company for Cooperative Insurance
Total years of experience :27 years, 0 Months
Looking after the Financial controls of whole of the Takaful department, ensuring that all the internal controls are in place, to put in place Ledger, Strategic Plans, the Underwrting system, the whole of the Administration system of Policies from the receipt of Premium to the issuance of a policy, to make Financial Accounts on every month and do all the reconciliations, to help the IT team in developing and enhancing accounting and business systems
Career Progression:
Senior Fund Administrator (Accountant)\[Jan 2009 onwards\]
Associate (corporate title) - Manager Finance and Budget (work title) \[Oct 2007 - Dec 2008\]
Key Responsibilities as Senior Fund Administrator:
Reporting to the Managing Director (Head of Operations).
Acting as one of the team members entrusted to work for NCB in Asset Management, and Investment Banking sections.
Monitoring the fund valuation/accounting process including the Externally Managed Funds, DPMS, Money Market Funds, etc ensuring that all accruals and provisions are in place to arrive at a correct NAV which is in line with the firms and SOCPAs accounting policies and principles.
Overseeing overall operations of asset management department comprising formulation of new mandates and funds, broker setup, custodian setup, work and information flow setup, and system set up.
Ensuring timely remittance of funds account for all relevant expenses, charges, and accruals.
Supervising reconciliation of fund records on daily, weekly, and monthly basis with that of the brokers and custodians in the GCC markets.
Ensuring settlement of deals and trades on time and according to the SLA’s agreed.
Acting as the in-charge and head of corporate actions and ensuring efficient utilization of system and tailoring the same for automation.
Gained comprehensive knowledge and relationship with custodians, brokers, and other counter parties.
Managing various in house and CMA reporting for compliance and risk of MIS formalities.
Sustained a healthy relationship with Risk, Legal, and Compliance personnel to ensure adherence to all requirements both internal and external.
Overseeing on-boarding of brokers, custodians, clients, new funds, and to link up all related operational issues.
Key Responsibilities as Associate:
Reported to Vice President and MD.
Managed setup of accounting & finance controls, procedures, and work flows for investment banking and investment services sections.
Appraised and directed all facets of investment banking divisions’ mandates and deals (financial implications).
Controlled parallel run over mutual funds calculations of management fee, subscription fee, fee sharing, etc.
Monitored the accounting cycle and ensured compliance of books with the IFRS and SOCPA.
Performed hiring, training, and managing of staff in the finance department.
Conducted cash flow and budget forecasting/monitoring/variance analysis.
Acted in close proximity with the ground team and the operations team as assistance.
Supervised the overall accounting cycle and reporting process.
Carried out cost control and ensured strict compliance with procedures and policies.
Managed the pricing of funds and products apart from break even analysis and review on product structuring.
Administered actively the short and long term planning process of bank (investment banking and investment services divisions).
Key Accomplishments:
Managed autonomously the arranging, meeting, and negotiating with the leading custodian of GCC and established a relationship of NCB Capital with them.
Performed the entire operational set up for the UCITS funds launch for NCB Capital, running seamlessly since then.
• Responsible for complete setup of accounting & finance controls, procedures and work flows in the newly established subsidiaries in Khafji, Abu-Dhabi, Dubai and Muscat.
• Playing a major role in the development of the whole of the accounting system.
• Overview of the Finalization of accounts & supervision of Audit
• Supervising the consolidation of all the 5 subsidiaries in to one parent company account.
• Cash flow & budget forecasting/monitoring/variance analysis
• Preparation of Strategic Plan (1 year & 3 year).
• Comparison of pricing models & expense control
• Providing the management with the necessary data and reports to monitor the direction in which the Corporate is moving and assisting them in deciding and routing the activities in right direction for the achievement of the Company goal.
To ensure and manage the Accounts & Finance department in whole, to look after the investment portfolio of around Pak Rs 600m, to develop and ensure the presence of internal control, to do the long term and short term strategic planning and getting the MIS information from the system to assist the management in making a progressive and focused decisions.
Did my majors in Finance with my strength being in teh areas of financial mangement, financial accounting and strategic Planning.
Did my articleship training in which i got the oppurtunity to do the audit of various manufacturing and service organisations, getting to know there control and financial procedures in full.