Head of Finance
Almazrouei Group
Total years of experience :40 years, 10 Months
Spearheading complete finance & accounts functions and acting as an Agent of Change for reworking Business/ Finance models to achieve organisational growth objectives; facilitating revenue growth & cost saving initiatives. Designing & implementing accounting systems & procedures; administering the finalization of monthly/ quarterly/ half yearly/ year-end financial statements in compliance with time & accuracy norms.
• Analyzing variances & prompt reporting, including suggestions for remedial actions as relevant
• Responsible for analyzing Project wise Cost, Revenue and Profitability in relation to estimated/budgeted values
• Negotiating with banks for business financing and trade facilities viz. LC, LG, Bill Discounting, Murabaha Facilities, etc.
• Consolidating Group Financial Accounts for Reporting and Annual Accounts Closing;
• Verifying inter-company transaction and final balances for settlement
Noteworthy Accomplishments:
• Pivotal in implementing the first Zero Based Budget during 2016
• Successful in Conducting project cost analysis; identified & highlighted flaws in Estimations and Pricing
• Automating few routine accounting, budgeting & Reporting tasks using MS Office & VBA
• Restructuring of financial process including arrangement of banking facilities
• Deftly carried out Resources Utilization Analysis;
• Core Committee Member for implementing Microsoft Dynamics ERP
Shouldered responsibilities as Financial Consultant to Top Management and Board of Directors; Formulating annual budgets, analysing variances & initiating corrective actions; overseeing preparation of need based Financial Reports & Case studies; Established Strategic Cost control systems, monitoring various overheads & achieving maximum cost effectiveness; Guided product costing, pricing, quotation analysis & cost/price comparisons.
• Involved in screening projects through feasibility studies to assess financial viability, cash flow & growth opportunities
• Participated in continuously researching the Business Development Opportunities to expand business across the GCC.
• Collaborated with Banks, Statutory Auditors, Consultants, and Regulatory Authorities for smooth financial operations.
Noteworthy Accomplishments:
• Holds the distinction of implementing Accounting Systems - including transition to a new ERP
• Pioneered the internal restructuring of the Company.
• Steered initiatives towards developing a Staff Appraisal and Profit Bonus distribution model
• Implementing cost reduction and profit maximization campaign
• Initiating and Implementing Annual Budgets and cost control activities
Performed analytical review of financial operations of the organisation; kept control for advance payments, cost centre wise consumption & analysis; Monitored statutory compliance at all levels involving liaison with External Agencies & Govt. Authorities; ensured that accounts prepared are in order; implementing necessary recommendations made by Auditors.
• Sustaining a dynamic environment that fosters development opportunities & motivates high performance amongst staff
• Imparted training to sub-ordinate staff for increasing their efficiency
• Nurtured healthy business relationships with relevant external bodies such as Banks, Regulatory Bodies and Suppliers
• Analysed revenue performance and recommended strategies to generate additional revenue and minimize costs.
Noteworthy Accomplishments:
• Essayed a crucial role in developing annual divisional budget
• Developed a Finance Handbook detailing financial policies & procedures, Responsibility matrix, workflows & instructions.
• Key support in obtaining ISO 9001:2000/2008 certification
Responsibilities:
• Overseeing all accounting jobs upto finalization, on rotation basis.
• Reconciling Bank Accounts, Vendor Accounts, Customer Accounts, and Control Accounts.
• Reconciling Inter Company Transactions and Salary Accounts.
• Analyzing and Reporting Budget Variances.
• Payroll Accounting and their cost allocations.
• Supervising Cash Collection Activities and conducting surprise check of Cash.
• Handling Petty cash disbursements
Highlights:
• Successful launching of an effective activity based Cost Control System.
• Designed an Employee Evaluation and productivity based Incentive System
• Initiated development of a Manual of operational procedures and Responsibility Matrix
• Developed Intercompany Reconciliation application, saving several man hours of work monthly.
Responsibilities:
• Maintaining an effective Project Accounting system for Construction Works
• Maintaining detailed Cost Accounts by Project and Job
• Overseeing the performance of Inventory control Activities
• Verifying the Progress Report for monthly Billing to Clients
• Payroll Accounting for 1800 employees, and cost allocation to cost centers
• Verifying Inter Site and Inter Location Transactions and Stock Transfers
• Generating monthly and adhoc Financial Reporting at Project Level
Highlights:
• Enhanced the prevailing Cost accounting and tracking system.
• Developed an Integrated Finance and Stores application.
• Successfully introduced the budget preparation and control program.
• Developed a Telephone billing and distribution System (translating hijra calender)
Responsibilities:
• Supervise the entire accounting activities of the branch in a manual accounting environment.
• Maintaining a Job Costing System.
• Maintaining a effective chart of Account and Cost center Structure.
• Coordinating with Auditors at Head office for Annual audit of 3 branches.
as part of Chartered Accountants Training)
Tasks and Responsibilities:
* Performing internal audits of Banks and Companies, and submitting periodical suggestive reports
* Finalization of Financial Accounts of clients for Taxation and regulatory compliance.
* Participating in the statutory audits for major corporations and financial institutions.
* Performing project feasibility studies and business performance analysis for clients
Tasks and Responsibilities:
* Preparation of Account Books - Cash book, Journals, etc.
* Statutory requirements like Sales Tax, ESI, Profession Tax, etc.
* Payroll Computations and Statutory deductions
courses: M.Com - Master of Commerce (Financial Management)
courses: B.Com - Bachelor of Commerce
courses: ISC - Indian School Certificate