Assistant Financial Controller
JONES THE GROCER
Total years of experience :16 years, 4 Months
Manage short and long term business and financial planning as well as monthly, quarterly and annual performance reporting for 5 companies (9 Branches in UAE and 7 Franchisee- Thailand, Singapore, Doha, Qatar, Bahrain, New Zealand, Saudi Arabia).
Responsible for the overall financial accounting functions including balance sheet reviews, managing the investment portfolio of the company, ensuring timely closings, and preparing/reporting of the global consolidated financials at each period-end in compliance with IFRS.
Design & Implement VAT (ERP) all over the group and Franchisee of the company.
Monthly management reporting with detailed analysis to CFO of all group entities and business unit level.
Support CFO & Finance Controller in preparation of Annual Budget for each Financial Year.
Provide analysis and recommendations on annual and revised budgets, challenge assumptions and propose revisions
Performing Cost controlling, Commercials, project feasibility studies, weekly and monthly checking of recipe costing, maintaining product costing of 200+ SKUs, responsible for updating and revising Standard Cost, COGS, and BOMs.
Prepare CAPEX evaluation and analysis based on IRR and NPV
Recommend benchmarks for measuring the financial and operating performance of divisions and departments
Setting-up new projects internationally as well as locally - Portfolio size US$50M.
Manage the process of feasibility studies, market studies, holding structure, new entities establishment and finance structuring, involved in monitoring and control the project process to insure governance and budget compliance
Expanding existing international & local projects throughout organic growth or complementary growth for cash-flow enhancement, supply-chain control and market opportunities.
Developing progressive KPIs for group and practical application of approved KPIs, Play key role together with management and Board in their business growth model.
Ensuring that financial reports are accurate and drafted in compliance with the Group policy.
Monitoring and analyzing variances of monthly operating results versus budget, Close follow up on: treasury, collections, payable, stock, sales and net margin.
Performing cost control function at entity level to make business growth in line with budgeted growth of the group.
Prepare various types of Weekly, Bi-Monthly, Monthly, Quarterly and Annual Sales Reports of each business unit (Franchisee) and entity level.
Prepare Weekly Dashboard for Current and future sales forecasts, Comprehensive support function for Sales & Marketing through multiple sales analysis, Build and manage a comprehensive KPI’s model for management decision making.
Maintain an active knowledge of all assigned contracts including contractual terms and obligations, understand the individual requirements (billing and otherwise) of each, analyze individual project performance(Franchisee), and assist with all processes in the overall accounting system
Preparing special reports as requested by the senior management on business and financial risk, financial reporting and MIS.
Create Chart of Accounts and transfer the data from Tally ERP to ORACLE, also monitor and ensure all data transfer properly.
Prepare and review budget, revenue, expense, payroll entries, invoices, and other accounting documents.
Conduct Internal Audit Assignments as per guidance of Standards issued by The Institute of internal Auditors, agreed program and ensuring their implementation
Conducting follow up checks and review the implementation of recommended SOPs to ensure compliance.
Identification of operational and financial risk and providing recommendations through management reporting to mitigate them
Evaluation of internal control procedures to identify areas requiring management intervention to prevent inefficiencies ensuring that objectives of the organization are achieved in the most efficient, effective & economic manner
Handle the entire accounting activities independently up to finalization of accounts and audit.
Ensure financial records are maintained in compliance with accepted policies and procedures.
Prepare and Handle the T/R, LBD import and export documentation (L.C).
Prepare and Handling the SHORT TERM AND Medium TERM LOAN documentation.
Prepare reconciliations of Bank statement, Account payable and Account receivable periodically and report.
Reviewing the financial results of the companies and reporting variance with budgeted information.
Proactively interact with key client’s management to gather information, resolve problems, and make recommendations for business and process improvements.
Produce regular management reports to show inventory systems are controlled and any discrepancies have been addressed and resolved.
Establish and monitor the implementation and maintenance of accounting control procedures.
Manages and monitor collection activities(Receivable Management) such as sending follow-up inquiries GCC And Outside the GCC, negotiating with past due accounts, keeping track of cash receipts and referring accounts to management of 90+ days overdue.
Prepare the commission for the sale executive on monthly basis.
Prepare the payroll for the group.
Verify the purchase and monitor the account payable monthly basis.
Examination and verification of the cash payment, cash receipt, bank payment. Bank receipt and journal vouchers of the company.
Risk assessment and planning of assurance engagements.
Budgeting, scoping and resource management at assurance engagements.
Coordinated with lawyers, bankers and IT & ERP experts in relation to assurance engagements.
Provide advisory services in respect of financial modelling, budgeting, planning & forecasting, accounting treatment of complex transactions and compliance with corporate and secretarial practices.
Preparing of Financial Statements and Consolidated Financial Statements (IFRS and Local GAAP).
Provision of formal advice to clients in respect of budgeting, planning, accounting treatment of complex transactions, compliance with corporate and secretarial practices and evaluation of design of internal controls
Liaison with client's management, in order to determine their needs with respect to deliverables as well as timelines and manage client expectations
Coordinate with internal and external experts (i.e. lawyers, bankers, tax advisors, actuaries and IT & ERP experts) in relation to engagement related matters, resolve conflicts on a timely basis to ensure assignment deadlines are met.
Assessment of control environment and business risk, both entity and industry specific, at planning stages in order to develop the engagement strategy and designing and application of audit procedures
Obtaining understanding of Standard Operating Procedures (SOP’s) established by the entity by conducting Walkthroughs and checking their adherence
Responsible for overall client engagement acceptance and risk management process.
Preparing and delivering monthly, quarterly and annual financial statements along with disclosures as per the guidance of International Financial Reporting Standards (IFRS) & in compliance with local laws.
Analysis & interpretation of Financial & Non-Financial Information, reviewing its reliability, consistency and integrity.
Conduct Internal Audit Assignments as per guidance of Standards issued by The Institute of internal Auditors, agreed programme and ensuring their implementation.
Conducting follow up checks and review the implementation of recommended SOPs to ensure compliance. • Identification of operational and financial risk and providing recommendations through management reporting to mitigate them.
Evaluation of internal control procedures to identify areas requiring management intervention to prevent inefficiencies ensuring that objectives of the organization are achieved in the most efficient, effective & economic manner.
Reviewing the financial results of the companies and reporting variance with budgeted information.
Proactively interact with key client’s management to gather information, resolve problems, and make recommendations for business and process improvements.
Preparing and delivering monthly, quarterly and annual financial statements along with disclosures as per the guidance of International Financial Reporting Standards (IFRS) & in compliance with local laws
Monitoring and evaluation of systems and underlying records of financial statement assertions
Providing sufficient level of guidance to audit team for effective completion of assignments and hence ensuring completion of audit within the given time frame and according to the firm’s quality standards
Presentation to the Board and Audit Committees of various clients regarding audit observations and other significant findings
Review of detailed time budgets and coordinating with staff to meet the reporting deadlines
Prepare and maintain all ledger accounts and staff salary.
Follow up with sub-contractor for their weekly report to submit to engineering consultant for their further action.
Handling petty cash, Bank Reconciliations and Review of sub-contractors payment certificate
Liaise with auditors and coordinate audit process.
Reconciliation of all Vendor and customer of companies.
Examination and verification of the cash payment, cash receipt, bank payment. Bank receipt and journal vouchers of the company.
Handling the customers’ Accounts (A/R), (A/P) & preparation of monthly ageing.
Examination and verification of the inter-company transfer funds.
Preparation of fixed assets management sheet, updates of new assets, sold assets and dispose of assets.
CPIA Certified Professional Internal Auditor