Financial Manager
Modern Trading Agencies Co. Ltd
Total years of experience :32 years, 6 Months
Duties & Responsibilities
• Financial planning, budgeting and budgetary control.
• Preparation and maintenance of books of accounts, financial statements.
• Working capital management.
• Liaising with banks and various regulatory authorities for compliance.
Contracting:
Studying new Bids with Technical Dept.
Making follow up with contracting dept. and Opening Bank Guarantees for new Bids
Amendment of Bank Guarantee after acquiring the new projects
Preparing annual budget for the entire project
Preparing Financial status report for direct Expenditure and revenue to all projects and Tally with budget pointed to variation
Preparing cash flows forecast for execution of projects, bank loans, bank facilities and for repayments
Preparing monthly & quarterly financial status report (Profit & Loss Report)
Negotiating financial agreements with sub contractors
Follow up with site engineers for issuing Monthly Payment Certificate or as per contract
Tally Payment Certificate with budget & time schedule & checking performance ratio for every project
Follow up with (Clients) for collection
Making arrangements for annual inventory
Duties & Responsibilities
-Direct the preparation of financial accounts, detailed budgets and financial plans on a composite and unitary basis for approval and distribution to all departments throughout The Company to ensure That all department are aware of their budgets.
-Review and compare results with approved budget levels and analyses deviations. Investigate variances with managers and recommend remedial action.
-Establish effective working relationships with banks, financial and credit institutions to pursue and negotiate and secure of the company’s planned financial needs including short and long term debt through the available various resources such as conventional credit.
-Ensure proper credit lines are available to the company in order to meet its financial obligations.
-Establish systems and controls for receipt and disbursements of funds and forecasting short and mid term requirements to ensure That It Goes in line with Set policies and procedures.
-Develop and monitor all internal controls to ensure the company’s assets are safeguarded, financial risks are minimized and all statutory requirements are met. Review all internal controls through external audits and monitor the financial effectiveness of internal systems.
Duties & Responsibilities:
Accounts & Financial Works
Overall Lead and responsibility for the entire operations of Finance Department, reporting directly to the Finance Manager .
Design the account system according to the Company's activities & regulations.
Preparing work Flow Chart for accounts dept. & other departments of the company
Approve the Journal for financial transactions after comparing and checking contracts or quotation approved previously.
Daily follow up on financial accounting activities.
Monitoring cashier work, & monthly Reconslation. Of cash book with accounts book.
Checking payroll cost distribution, provision distribution report and deduction proof list.
Monitoring of employees Financial settlement.
Follow up on
Bank transactions (Cheques, Bank Facilities, Remittance) for the following
• Import Finance payment
• Foreign contractors advance payment
• Foreign companies abroad & other investments
e) Negotiating on Bank investments
f) Documentary Letter of Credits & amendments
g) Bank guarantees & amendments
h) Credit Facilities & amendments
i) Monthly bank reconciliation with account book.
• By the end of every month prepare financial status report for all profit & cost centers & monthly balance sheet
• Preparing Quarterly Reports : Trial Balance, Profit & Loss Reports with all description for the final accounts, the Balance Sheet & Actual Cash Flow Vs Budget Figures
• Analyze & evaluate budget reports & formulate the overall annual budget
Contracting:
Studying new Bids with Technical Dept.
Making follow up with contracting dept. and Opening Bank Guarantees for new Bids
Amendment of Bank Guarantee after acquiring the new projects
Preparing cost control system for projects with complete coding of the activities
Preparing annual budget for the Each project
Preparing Financial status report for direct Expenditure and revenue to all projects and Tally with budget pointed to variation
Preparing cash flows forecast for execution of projects, bank loans, bank facilities and for repayments
Preparing monthly & quarterly financial status report (Profit & Loss Report)
Conducting financial periodic meetings with site staff of construction dept.
Negotiating financial agreements with sub contractors
Follow up with site engineers for issuing Monthly Payment Certificate or as per contract
Tally Payment Certificate with budget & time schedule & checking performance ratio for every project
Follow up with (Clients) for collection
Making arrangements for annual inventory
Special Responsibilities:
Advising Finance Manager for monitoring:-
Accounting records, Financial reports & Accounting policies & procedure, Government reports & data processing services .
Preparing company classification according to Classification Agency requirement
Purchasing control & inventory control of all materials, equipments, stores, warehouses.
The control & supervision of all materials & equipments .
Answering Question related to project or year end profit share, bonus, commissions or other dividends related to individual or collective productivity & performance
Purchasing procedures (how to do it) & requirement for all divisions
Development, implementation & supervision of annual budgets, monthly statements, short & long term financial plans & objectives for all divisions.
Functional direction, co-ordination & advice to division managers in their accounting, bidding, materials & equipments purchasing, project execution & inventory activities :-
• Cost Accounting
• General Accounting
• Billing Procedure
• General office management
• Payroll (including payroll processing)
Bank accounts, cash flow, collection of receivables.
Duties & Responsibilities:
Maintain files for each sub contractors as well for material suppliers
Opening L/Cs for material requirements
Supervising on sites for checking
a) Site material stores for material delivery, dispatch registers & stock checks
b) Time cards check, approval and forwarding to payroll department for all workers as well for management stafs
c) Petty cash approval issue and maintain update records of the same until the end of project .
Warehouse management:
Monitoring Inventory of Warehouse
Upgrading complete storage stacking & labeling the system
Computerizing the complete inventory by Item Category, Dept., Types & Codes
Advising & creating professional Bar Code System
Preparing Stock Control Reports for Management
Duties & Responsibilities:
Maintaining Accounts Books.
Presentation Of financial transactions to the individual accounts.
Checking accounts & prepare Journal for accounts.
Updating depreciation for all fixed assets, buildings, light & heavy vehicles, light, medium & heavy equipments, tools, furniture, office automation Software .
Record any change in fixed assets during financial year
Make new entry in the journal for opening balance after the approval of balance sheet by Managing Director
Duties & Responsibilities:
Maintaining Accounts Books.
Presentation Of financial transactions to the individual accounts.
Checking accounts & prepare Journal for accounts.
Updating depreciation for all fixed assets, buildings, light & heavy vehicles, light, medium & heavy equipments, tools, furniture, office automation Software .
Record any change in fixed assets during financial year
Make new entry in the journal for opening balance after the approval of balance sheet by Managing Director
Procurement:
Maintenance old suppliers, subcontractors Database
Studying total requirement for new project (Material & Time Schedule)
Preparing purchasing plan according To time schedule with site engineers & finance dept.
Verify the requisition material from sites
Checking available item in warehouses before issuing purchase order
Take quotations from suppliers
Cross checking material prices
Negotiating terms & conditions of supplying materials & cash payment And co-ordinate with financial department
Issue purchase orders & follow up with suppliers according to site time schedule .