FINANCIAL CONTROLLER (As a CFO)
BLUE STAR INTERNATIONAL (BLUE STAR Group)
Total years of experience :29 years, 3 Months
Reporting to: CEO, CFO, Managing Director and BOD.
•Overall in-charge of commercial and operational for the back office in all areas including managing operational and functional control. Budget, Costing, Accounts, Banking, Audit, Logistics and Admin. related matters of a leading Air Conditioning Trading House in UAE and across the globe. Manage full-fledged operational and functional control over Project and production team in line with operation, Stores, Procurement and other internal dept. to execute the overall business activities smoothly.
Business Plan, Budgeting, Costing and Planning:
•Develop innovative budgeting models, automated planning spreadsheets to ensure effective budgeting flow & reliability of forecast financial data & lead the process & preparation of the annual business plan & 5-year strategic forecast on micro & macro level across all business units. Consolidate business plans of all operating business units into legal entity-wise corporate budgets & into one group level BP in order to provide financial data to senior management for strategic business performance evaluations.
•Preparation of business plan for quarterly (Income statement, Balance Sheet, Cash flow) including sensitivity analysis.
•Budgeting and tracking of general expenses on compare with budget results any excess amount with respect to cost budget need to highlighted to Senior management and not to encourage further.
•To work with MD and BOD for all price updates at all levels & pricing structures in order to achieve profitability & margin returns for all SKU products for overall responsibility.
•To support Head of department in Identifying and initiating fund based and non-fund-based banking facility requirements for the business units with group treasury as per business plan and reviews
•Assist in identifying potential business expansion and/or projects and carry out financial models.
•Cash balances and associated procedures in liaison with the Group Trade Finance and Treasury.
•Adhere to procedures to establish control over cash transaction including control over petty cash funds.
•Introduce various investment plan like: short terms and long-term deep discount bond, Deposits.
•Prepare Financial Analysis for the company (including investment, hedging, funding, payment terms).
•Analyze and interpret financial data including financial statement and present to management for decision making.
•Supervise project set up process for department and perform Business Manager role for larger or more complex projects.
•Setting the Company’s financial policies (including credit policies), control procedures and work flows to ensure efficient and streamlined processes and operations to obtain the best output from the employees.
•Monitoring the Company’s present and future cash flow and ensuring that all short-term and medium-term cash requirements are met from the Company’s internal funding sources
•Managing the Company’s relationship with the banks by meeting bank officers on a regular basis and providing them with relevant information on regular internal.
•Negotiating with Banks for the best possible rates on reduction of finance cost and minimum collateral.
•Dealing and negotiating with vendors on a regular basis and ensuring credit payments are made within the agreed credit terms. Conducting reviews and evaluations for cost-reduction opportunities both in direct cost and overheads.
•Responsible for collection & Receivables including managing collections strongly follow up Sales team with excellent skills. Responsible to provide data bank facilities.
Financial Management, Analysis, Liaison and Foreign Currency exposure:
•Ongoing support Head of department in assessing foreign currency exposure of business units on a continuous basis and ensuring compliance of organizations hedge Policy.
Reporting to: CEO, Managing Director, BOD and Chairman.
•Overall managing the Finance, Budget, Costing, Accounts, Banking, Audit, Logistics, HSE and Admin. related matters of a leading Air Conditioning Trading House in UAE and across the globe. Manage full-fledged operational and functional control over Project and production team in line with operation, Stores, Procurement and other internal dept. to execute the overall business activities smoothly
Forecast, Budget, Planning, Costing, Commercial Manual, Procedures and Policies:
•Manage/monitor all aspects of business plans, budgeting/forecasting/cash flow forecasts monthly for 12-month period in simulation with 5 years.
•Manage and high-level development on feasibility study on expansion including variation of project and Project reports defining assumptions and providing proactive strategic and investment decision supports to the owner. Excellent experience with manufacturing and factory environment to get the maximum output.
•Leading the company's financial planning and budgeting process, ensuring the highest level of rigor and consistency in the implementation process.
•Participate in developing new business strategy, specifically assist CEO in identifying new funding opportunities, review and draft budgets, and determining cost effectiveness of prospective service delivery.
•Support continuous improvement of current budgeting, forecasting and planning process and deliverable
•Monitor performance, highlight trends and analyze drivers of variances.
•Prepare/support ad hoc reports and analysis.
•Be part of costing structures and Cost reduction strategical support in the local market for local and International projects by the Company for improvement of overall margin.
•Work closely with the Head of Sales, Project Head and marketing team on the strategic vision including fostering and cultivating stakeholder relationships, as well as assisting in the development and negotiation of commercial arrangement with sellers and suppliers for negotiating/(close) the final deal.
•Involvement in the preparation of capital expenditure requests and justification analysis.
•Oversee the management and coordination of all fiscal reporting activities for the organization including: organizational revenue/expense and balance sheet reports, reports to funding agencies, development and monitoring of organizational and contract/approve budgets.
•Accounting for Plant Utilities, Communication and other accrued expenses. Overseeing/checking and Booking bills received from Utility Companies. Overseeing/processing Payment of utility Bills. Generating monthly Utility provision entries into the ERP to get the accurate management Accounts. .
•Liaise with key stakeholders and contribute to take key business decisions through financial advice and expertise. Always thrive for maximum utilization of resources and achieving the target goal.
•Providing financial direction to the worldwide leadership team in accordance with the group's vision and business strategy, providing key advice on external influences and their potential impact on the business.
•Provide insight into what creates the most value for the company by developing analysis for resource allocation and future investments.
•Focus on strategic planning through influencing and facilitating development of future strategic directions.
•Prior exposure to managing internal reporting and implementing a robust MIS throughout the organization with Strict deadlines. Assist in determining the company's proper capital structure through equity and debt Financing.
•Command over leading the process and evaluating future fund requirements alongside organizing cost effective financing. Implementation of Strong Accounting control to avoid any miss match.
•Ensure that all the statutory financial Reports are developed, reviewed and confirm as accurate, realistic and authentic in compliance with IFRS/IAS/US GAAP and those are best as per the industry norms.
Reporting to : Group GM, CEO, Audit Manager and Chairman. Major Duties & Responsibilities:
•Overall manage a day to day Financial and accounting matters, MIS Reporting, Annual Budgets, Variance Analysis, Actual Vs. Budget, Job Costing, Review of all daily accounting transactions and approved all on daily basis. In-House Financials, Ratio Analysis, Implementing Various accounting Policies, Procedures at par with Group and international Accounting Standard, Regular visit to project the sites for follow up of the ongoing project.
•Oversee Internal Controls, Cash flow and managing project into GCCs a large volume.
•Managing all fund management activities like: LCs, LG, PPC, TR, OD, Term loan for expansion/CAPEX purpose.
Revenue recognition based on Percentage Completion Method on a monthly basis -as per IFRS 15.
•Independently handle with banks on personal level of contacts for arranging project financing limit on Oil and Gas and Infrastructural huge line of projects in GCCs (KSA, Qatar and Kuwait). Executed some of the prestigious project:
Shaybah NGL Programme, KSA, EVA/LDPE Package, Al Qurayyah IPP, KSA, Harmain High Speed Railway Passenger Station, KSA, Midfield Terminal Building- Abu Dhabi.
•Mange financial commitment on and various Prestigious projects in GCCs. Regular visit to the site.
HOD of Fin. & Accounts )
Reporting to: GM, Group CFO, MD and Chairman. Major Duties & Responsibilities:
•Overall manage the financial management and control of the manufacturing organization.
•Monthly Closing, MIS Reports on weekly/Monthly/Yearly basis, Details Annual Budget, Job Costing variance Analysis, Strategic Planning, Payroll Management, CAPEX and monthly Capitalisation, Amortizations, Analysis of Balance Sheet Reconciliation, Ratio Analysis. Scrutiny and reconciliation all GL and sub ledger and monitoring their balances regularly. Arranging facilities for general and project financing, Trade Finance Matters (LCs, LGs, TR, PPC).
•Cash Flow Management including Forecasts, Regular Reconciliation and Movement of AR, AP (after Ageing analysis review points) and closely monitoring the movement including Bank balance.
•Experienced in restructuring of capital through purchase of machinery for expansion of business.
•Increase in Share Capital from JAFZA by purchasing in Machineries for foreign ownership Company through BOD, Big Four Auditor and JAFZA Authority. Entire process of increase in share capital I have executed independently till the final share Certificates and revised MOM/MOA are issued.
•Develop and maintaining of Relationship with External Bodies: Banks, Govt. Officials, Solicitor, Dept. of Customs and Port Authority. Analysis on Project wise Man Hours per ton in compare with Estimates to improve capacity.
HOD Fin., Accounts)
Reporting to: GM, Group CFO and GMD. Major Duties & Responsibilities:
•Manage Monthly Closing, MIS reporting, In-House Financial within the Strict deadlines, Costing product wise and project wise, Clearance of Imports/Exports Shipments, Pricing, FOREX & Forward Cover.
•Analysis on Slow moving goods and advise management for discount options to liquidate those products to generate cash. Analyze the slow- and fast-moving goods and advise management to offer discount for liquidate purpose. Liaising with external auditors and service providers.
•Conducting periodic meetings management with vacant, non-renewed units, and returned cheqs report.
•Monitor A R for the entire Project and ensuring that it is carried out smoothly to eliminate
•Manage, supplies of Dubai Sports city including the Stadium with International brand of Ceramic tiles/Sanitary wares: Palm Jumeirah, Discovery Gardens, Dubai Sports City, Dubai Courtyard Hotel etc.
•Various regular Reconciliation AR, AP Banks, Feasibility Study, Ratio Analysis, Budget, Cash Management and Forecasts. Arrange Project Financing against project proceeds.
. JV project with Be-Six LLC and Campenon Bernard SGE at Abu Dhabi Mall (Govt. Project)
Reporting to : Finance & Admin. Manager, Project Manager. Major Duties & Responsibilities:
•Overall manage Financial control, MIS Reporting to JV Partners HQ (Paris & Brussels), Costing, Cash Management and Forecasts, Monthly closing, follow up with the clients for outstanding invoices.
•Monthly Reporting to the JV partners HQ- Brussels and Paris on a monthly basis all financial reports and debit note payments. Maintain the operating Cash flow and treasury functions through forward cover to avoid exchange loss.
•Annual Audit, (invoicing, collection follow up), AP (Checking internal control and processing Payments timely as per Ageing analysis), Payroll Management. JV Partners Accounts reconciliation and payments.
Direct reporting to GM, CEO, and MD. Major Duties & Responsibilities:
•Overall financial control, Annual Budget, Variance Analysis, Banking with Trade Finance Matters, Cash management with Cash flow forecasts and projections, Financial Control, MIS Reporting, Monthly Closing including In-House Financials, Statutory Audit, Sales Tax and Revenue Audit, Tax Planning, Dealing Credit Rating of Fixed Deposit. Arranging AGM with IPO shareholders, Board meeting for approving AGM.
•Experience in handling various Companies IPOs, in-house Public and Rights offer as a SEBI register Category 1 Merchant bankers in India. Managing various IPOs, private equity placements and arranging offshore funding. Dealing with Register to the IPOs for allotment of shares of employees and public.
•Payroll Management, AR (invoicing, collection follow up), AP (Checking internal control and processing Payments timely as per Ageing analysis).
•Leasing & Merchant Banking operations as lead managers of IPOs, Conduct Board meeting, Budget meeting with Branches Unit head and HO. Point out the variances of Actual vs. Budget.
Reporting to Sr. Audit Manager. Major Duties & Responsibilities: Checking of Audit Control points, Voucher Posting, Invoices with al Customer's data including PO/LOA. Various Schedules- Amortization, Provision, Income Tax return file, Checking of Inventories, Cost of sales, (CAPEX) Depreciation Schedules, Additions movement, Test checking of Interest and Tax Calculation. Final Audit outstanding review points as per draft Financials discussed with Audit Manager and clients before signature of audited financial reports.
ICWAI -Final. 1991.