Finance Manager
Al Ghazal Transport
Total years of experience :28 years, 7 Months
Al Ghazal Transport is a multi dimensional ground transport service provider, based in Abu Dhabi with 5 operational divisions within UAE, Consisting of Rent A Car, Mass transport (Bus), City Taxi, Limousine and Workshop & Service centre employing 2500 strong manpower. Al Ghazal Transport is a 100% subsidiary of Abu Dhabi National Hotels, a publically listed company in the Abu Dhabi Stock Exchange, owning and managing many 5 star hotels in UAE.
Working as Finance Manager, reporting to General Manager of Al Ghazal Transport & Group Finance Director of Abu Dhabi National Hotels. Work profile is categorized as hereunder:
Key Accomplishments:
Played an important role in business strategy making and implementation of KPI’s and its monitoring system, leading the company to record its highest profit since inception.
Designed & set up fleet & contract management system for Rent A Car division.
Streamlined & automated the Payroll system resulting a reduction of 4 staff in the area
Identified major cost saving areas and designed monitoring report for management control
Leading a team of 35 Finance, Accounts, Collection and payroll staff.
Strategic planning and business forecasting.
Developing & redefining business models.
Adopting and implementing corporate governess.
Developing and implementing of policies and procedures for the Finance and accounts department including ISO procedures.
Co-ordination with Banks and financial institutions for arranging loans for working capital requirements and asset purchases. Good exposure in dealing with major banks in UAE and India. (Credit facilities arranged in UAE during the last 3years is AED 400 Million).
Project financing for new business units starting from formulating of business model, preparing project reports and getting the credit facilities arranged from banks.
Arranging local and foreign Letter of Credits.
Monitor the cash flow of the company and ensure the availability of finance to meet the expansion plans and also for the smooth functioning of the company.
Co-ordinate with auditors for the timely completion of audit.
Finalization of Balance Sheet & Profit & Loss A/c as per time & accuracy parameters and in compliance with IFRS.
Preparation of the annual and monthly budgets, long term forecasts and cash flow projections.
Preparation of region wise monthly Profit & Loss statement, variance reports with explanation for variances.
Analyze costs and suggest methods of cost reduction.
Business segment wise & product wise profit analysis to identify unprofitable segments/products and suggesting corrective actions for improving the total profitability.
Control and monitor the debt collection department of Abu Dhabi and Dubai region and ensure the implementation of proper credit policies.
Regular follow up of accounts receivables to meet the collections targets. Achieved significant reduction is average credit period (40%).
Developing internal control systems for improving operational efficiency of the enterprise.
Business Restructuring
Analyzing the business potentials of the company and suggesting possible areas of expansion to the Board of directors.
Working out the cost-benefit analysis of proposed mergers and acquisitions and submitting the reports to the Board of Directors.
Managed all activities involved in mergers and amalgamation of companies to secure the best interests of the company and achieving growth.
Finance & Accounts
Investing the company funds in various sectors considering liquidity, risk and return parameters.
Negotiating and arranging with banks/financial institutions for project financing, working capital requirements, other routine financial transactions.
Consolidation of accounts of 17 branches and various divisions.
Prepared an Accounting Manual for the guidance of all the accounting staff of the group.
Managing the short term surplus funds of the company by investing in various schemes including mutual funds.
MIS/Costing/Budgeting
Formulating monthly profitability reports, analyzing financial performance and preparing monthly MIS to the Board of Directors.
Preparation of Budgets and analyzing the variance for taking corrective measures.
Formulation of various sales report formats for analyzing the progress of the company.