Credit Controller & Treasurer
BMB Group
مجموع سنوات الخبرة :19 years, 2 أشهر
Responsibilities - Credit Controller:
• Managing all areas of Trade receivable across GCC, US, and other Export market
• Group receivable reporting for eight entities with analysis and aging summary.
• Managing Group Trade Credit Insurance
• Setting-up of collection targets for the month and formulation of detailed Credit Control action plan.
• Devised collection recovery strategies to resolve customer issues and delinquent cases
• Review the new customer account and approving on credit facility.
• Monitoring debtor balances to ensure a reduction in debtors DSO
• Trained and mentored new department employees to maximize performance
• Managing a team of 4 members and reporting to CFO
• Ensuring credit and collection policies and procedures are followed within the team
• Optimized credit approval and collection processes, improving operational efficiencies
• Reconciling complex accounts that have been escalated from the AR team
Responsibilities - Treasurer:
• Assessing, reviewing, and protecting company financial wellbeing
• Ensuring cash flow is adequate and allocation of Funds with recommendation
• Negotiating and evaluating facilities with bankers
• Manage adhoc reports to banks
• Leading for corporate & commercial Insurance and carrying out risk management activities.
• Administering export letter of credit`s (LC`s), trust receipt, capex loan.
Responsibilities - General:
• Liable for making necessary accrual on monthly and yearly related to receivables and Treasury.
• Responsible for reconciliation of all Banks, accounts receivable and related general ledger accounts for the month and year end close process
• Budget preparation for receivables and treasury
• Responsible for group corporate & commercial insurance policy
Management Reports:
• Liquidity forecasts monthly and monitoring against actual cash flow.
• Preparation of weekly and daily cash flow reports from receivables
• Preparation of Bad debt provision monthly in detail and working knowledge in IFRS 9
• Preparation of Exceptional Reports on a periodical basis and its submission to the management
List of Overdue Receivables
Bank Facilities Vs Actual
List of Receivables due for more than 60 days
List of Disputed Receivables with action plans and status
List of Legal Cases with the status
Vat Environment:
• Support for VAT Submission regarding receivables & Treasury
• Documenting for Tax Invoices and Tax Credit Note
Responsibilities:
• Responsible for Debtors and collection activities across UAE and Export
• Review the New Customer Account and recommendations to the management on credit facility
• Managing a Credit Department of three members reporting to Financial controller
• Full control on Selling Expenses like Debit/Credit Memo’s to customers, Marketing Expenses, free of charge goods, promotions, discounts, rebates.
• Customer profitability analysis.
• Sales and operating profit analysis vs last year and actual.
• Liable for making necessary accrual on monthly and yearly related to receivables.
• Reviewing the customer contracts and submitting to management with comments for approval.
• Ensuring credit given to customers is monitored and controlled effectively
• Maintained accurate and up-to-date customer details and account records.
• Visits to customers for follow up, Write collection letters and notices for default customer
• Chair meetings with all business units and discuss the overdue report by involving BU managers
• Achieving and maintaining high collection rates and minimal bad debts
• Recommendation to the management for initiating legal actions against defaulted customers
• Monitoring the cheque clearance and doing the bank reconciliation.
• Supervising the Annual and interim stock count process
• Compiling inventory reports and issuing them to management
• Investigating inventory shortages and discrepancies
Responsibilities:
• Control over the receivables of the company that has customers across UAE.
• Monitoring overdue receivables age wise and working out liquidation strategies
• Credit risk analysis and review of new & existing customers.
• Due diligence checks and approval of credit limit to potential customers.
• Monitoring sales orders and release of delivery upon ensuring / securing payment.
• Control over the despatching of invoice and reconciling with the customer account.
• Checking daily Collection Report and MIS reports to management.
• Monthly reporting of receivables and provisioning of bad debts.
• Follow up with defaulting and overdue customers.
• Visits to customers for follow up and account reconciliation.
• Identifying disputes / queries that may arise from customers and resolving the same.
• Establishing sound business relationship with customers while ensuring adherence to AGS terms
Follow up With Customer
Issuing of credit notes
To allocate payment in accordance with customers remittance advices.
Preparation of Collection Schedules and timely updating the Finance Dept
Checking daily Collection Report
Reconciliation of Debtors Accounts
Handling Cheques / Cash payments and Receivable Accounting
Monitoring the cheque clearance in the Bank
Doing the bank reconciliation for the credit aspect
Ensuring proper allocation of cash in the accounts
Monitoring Invoice queries / disputes and resolving the same
Appropriate control on overdue account in coordination with Sales & Management.
Invoice Management
Visits and meetings with debtors for account reconciliations and follow-up
To record summary details of all contacts with customers
To cover holiday periods, and assist with any department needs as and when necessary
Job Profile:
Experience in Global Trade Processing for Bank of New York Mellon, it Is World’s Second largest Global custodian, The Client is in to Global Custodian Services, as it safeguarding and maintain accounts for their clients. And also helps the investment managers trade in stock in markets across the world
Responsibilities:
• Organize the daily work and allocating the team Members
• Updating the client instruction and sending to the different markets.
• Knowledge in different markets and their procedure.
• Keeping track of all pending items.
• Coordinating and communicating with the Client administrators regarding trades.
• Ensuring deliveries as per the Service Level Agreement.
• Preparing daily and monthly report which needs to be submitted to the Client.
• To provide training to the new members
Responsibilities:
• Doing statutory and revenue auditing in nationalized banks.
• Check, inspect and reconcile bank deposits and payments
• Preparation and finalization of accounts of all types business organizations