Group Finance Manager
National Electricity Centre LLC - Shumookh Investment Services SAOC
Total years of experience :12 years, 4 Months
• Successfully implementation of Oracle based ERP across the entity
• Designing & Implementation of processes, Controls & documents in finance & accounting function.
• Responsible for monthly, Quarterly & annual preparations of financial statements.
• Negotiating the sufficient credit lines from local banks including Letter of credits, Overdraft and term loans based business model of the company.
• Actively involved in the Government Tendering submission processes in smart city & Solar power Generation Projects.
• Leading the formation of subsidiaries, Finalizing Joint venture agreements for future projects with international technical partners for Solar power projects & Utilities Smart Meters manufacturing.
• Responsible for presenting financial models for upcoming projects to Board of Directors.
• Coordinating with Internal, External & state auditors.
• Working Capital Management
• Presenting Annual Budgets to Board of Directors.
• Representing OKC on Steering Committee constituted by Ministry of Finance and presenting business & marketing plans.
• Conducting Investment Appraisals & Financial Modeling
• Actively involved in Financial Restructuring of the project & raising funding through Government & commercial sources.
• Drafting proposals for new business opportunities exploiting and creating unique USPs.
• Developing New Business, particularly in assisting the Board in identification of New Funding Opportunities, the drafting of Prospective Programmatic Budgets, and determining Cost Effectiveness of prospective Service Delivery.
• Conducting the Assessment of Benefits for overall prospective Contracts, while advising the Board on Programmatic Design and Implementation issues.
• Tracking the adequate Installation of Controls, while substantiating Approval of Documentation.
• Ensuring tracking and coordination of Fiscal Reporting for the Organization, including Organizational Financials, reporting to Funding Agencies, development and monitoring of Organizational and Contract/Grant Budgets.
• Formulating and sustaining the Systems of Internal Controls & recommending top management for corrective & mitigative measures to safeguard the Financial Assets of the Organization.
• Tracking the Banking activities of the Organization, while ensuring adequate Cash Flow to meet Organization's Needs.
• Steering the leading banks autonomously pertaining to Bank matters including Loans and Bank Facilities Negotiation.
• Handling the International Trade Finance i.e. Imports / exports function & establishing economic supply chain.
• Managing collation, preparation, and analysis of Management Reports, Budgets, Accounts, and Financial Statements.
• Negotiating on Pricing Issues with the International Suppliers in Korea & China.
• Developing the Investment Proposals for Banks and Investors to ensure Financial Restructuring of the Company.
• Performing the Strategic Analysis, while assisting in diversified Strategic Business Planning.
• Formulating the Long Term Business Plans, and ensuring Research into Pricing, Competitors, and Factors affecting diversified Performances.
• Conducting advanced Business Modeling and Risk Assessment, along with IFRS Compliant for year-end Financial Statements.
• Interacting with the External Auditors pertaining to diversified Financial Audits.
A dynamic entity employing more than 15, 000 individuals in a range of companies -including Food, construction, engineering, manufacturing, investment and commercial enterprises. (www.alnaboodah.com)
Management of Financial Accounting and Procurement functions of the food division ‘International Trading Franchises’ in an ERP controlled environment, representing international food franchises in the Middle East and GCC, with an annual turnover of over AED-18.0M. (www.itf.ae).
• Budgeting and forecasting with funds and cash-flow planning
• Feasibility study and analysis for the upcoming new projects of Tony Roma’s and induction of new franchises
• Financial Statement preparation and variance analysis, identifying the areas needing the focus for improved efficiency.
• Strong communication skills with frequent interaction with the company’s Corporate Team.
• Monitoring of the Banking felicities Overdraft, Term Loan, Trust Receipts, and LC’s and Guarantees.
• Policies and procedures, defined for the cash handling and reconciliation.
• Training of the Operational Managers to better understand their P&L’s with a focus on cost management.
• Procurement & Inventory Management for Local & Imported items, (FMCG), using the functions of JD Edwards AS400 ERP system, tailored for our needs.
• Negotiating and handling foreign suppliers around three continents of the world.
• Liaison and direct dealing with the Food Control Department and Dubai Municipality.
• Involved in the Human Resources induction, overseas (Philippines, Nepal & India) and all the relevant issues, through the Payroll module of JD Edwards AS400 (ERP).
• Co-ordination of periodic reporting system of Sales, Number of Guests, Sales Margins and Calculation of Fees against the Sales, from Tony Roma’s in the UAE & Middle East, from ALPHA and GL in AS400 (ERP).
• Finalization of the Tax agreement under the provisions of the Saudi Income Tax Law (STL), under the Ministry of Finance, Department of Zakat & Income (DZI), in collaboration with a Saudi & Jordan ‘s Tax Consultants.
• International Franchise Operations, involvement in formulation of the relevant territory agreements.
• Consolidation, presentation of regional Sales & Corporate Reports to the Management and Master Franchisors.
• Project Coordination and resource management
Obtaining an understanding of client’s business objectives and strategies in the context of industry and environment in which the client operates in order to identify strategic business risks.
Identifying financial statement risks and financial statement controls and testing appropriate controls.
Planning and performing audit procedures.
Identifying and investigating audit differences and evaluating findings.
Meeting management for planning, execution and finalization of statutory audits and other assignments.
Foreign reporting for multinational clients.
Managing my audit team for delegation of work, assistance and review of their work before critical issues are highlighted and resolved with management.
Monitoring of overall profitability of an audit assignment by actively following up for time charged on my clients in order to maximize firm profitability by using the least possible resources.
Gained understanding of general accounting systems and packages used (manual/ computerized) and various controls needed for their operations.
Providing suggestion of improvement in client's business process including internal controls for increasing the process efficiency. Extensive exposure of international Accounting (IFRS) and auditing standards (ISAs).
Examination, analysis and review of financial statements and accounting systems, target investigation and system development.
Examination, analysis and review of financial statements for the purposes of forming audit opinion as relevant applicable accounting framework.
Various other correspondences with the clients