Finance Manager
Al Injazat Technical Services
Total years of experience :27 years, 5 Months
Deliverables:
Providing and independent, objective assurance and consulting service to the top level management, with the principal aims of evaluating and improving the effectiveness of risk management, control and governance processes of the business.
Carrying out all random audit functions of the company.
Ensuring senior management that organization maintains adequate and effective internal controls of all its business.
Satisfying that appropriate controls are in place for monitoring compliance with laws, regulations, and relevant internal policies.
Reporting and submitting all your work on a monthly basis in a written/electronic format which is acceptable for the company/ manager.
Forecasting cash flow and liquidity management of the company.
Liaising with banks for Invoice Discounting, Overdraft, Term Loan, Letter of Credit and bank transfers and providing monthly report to the bank and related information as per Facility Agreement.
Consolidating and presenting the monthly management report viz. Funds Position, Profit and Loss, Balance Sheet, Receivables and Payables to the management.
Generating and implementing effective auditing procedures and also to evaluate accounting systems for efficiency.
Involve in budgeting, estimation, evaluation and control of projects.
Providing proper guidance to the finance and accounting team of the company.
Determining financial objectives, preparing and implementing systems, policies and procedures to facilitate internal financial controls in all the areas.
Conducting feasibility study for new ventures, analysis of business plan and KPI for Go/No-Go decision.
Analyzing value chain (procurement to pay) and working capital management by project wise & by company as a whole.
Ensuring compliance with IFRS/ accounting standards.
Job Description: (as Finance Manager): responsibilities include but not limited to:-
Lead all financial accounting activities of the company.
Develop accounts team with meetings once every month to improve work load to ensure timely management / financial reports are produced per deadline set by Head office in UK.
Work in conjunction with sales and marketing department head to support growth within the region.
Approve customer’s Invoices, Journal voucher’s, Purchase Journals, Supplier Payments and routine expense claims including overtime disbursement.
Manage Inventory system to ensure inventory/stocks are properly recorded both at the time of receiving and during delivery of the goods.
Provide a list of slow moving items and a stock ageing report to General Manager to take prompt action on slow moving and old stock items.
Analyze all costs to ensure costs are well under control and within Budget of the company.
Reviewing Balance Sheet Schedules before sending them to Head Office in UK.
Generate Financial Reports (Income Statement, Balance Sheet) to compile on a spread sheet to analyze Variance in relation with budget figures before sending them to Head Office in UK.
Preparation of Budgets every year with explanations and workings.
Preparation and submission of Statutory accounts in accordance with local and international accounting standards (IFRS).
Manage all aspects of cash flow - including cash flow forecasts, payments, and receipts and managing the relationships with banks and external parties.
Supervise payroll and personnel administration processes and office support activities.
Monitoring working capital management with KPI’s.
Liaison with Auditors to review year end reports for analyzing overall business of the company for revenue and costs analysis.
Job Profile - (as Credit Manager)
Development and execution of company’s Credit policy as part of Orientation for new joiners.
Streamline debts over 90 days period and ensure all the orders confirmed are within the agreed terms and conditions of the quotations and ensure all documents (LPO) are regularized and documented.
Follow up with the Quantity Surveyor, Contracts Manager and Project Director to ensure payment certificates are timely received every month to get payments on time for all jobs.
For delinquent accounts ensuring all the correspondence reminders and Dunning Letters are filed and meetings are also arranged to get debts cleared of the company.
Have a team of two staff reporting directly - Lead train and co-ordinate the team which includes, Accountant (AR) and Document Controller. Generate invoices, delivery of goods, record cash and cheque collections; reconcile accounts and any other tasks delegated to them.
Ensuring invoices are raised and delivered on time; customer’s get statement of dues, proper follow up is done at right intervals.
Strict implementation of credit limits and liaison with sales to control supply and releasing reports.
Evaluate customers both new and old to assign or amend credit terms.
Maintain spread sheets for regular follow-ups done and Collection’s made on weekly and on monthly basis.
Maintain spreadsheets for Debtors Analysis over 90 days debts, provide information on each delinquent client - the status for why dues are unpaid, when it will be collected or expected to be cleared.
Reporting directly to General Manager in Dubai and to Group Finance Director in UK.
Periodic review of doubtful debts accounts.
Ensure DSO targets are well controlled to manage risks and minimize overdue exposure through maximizing payment security.
Handling complete Credit control department for Fuels Division.
Coordinate, lead and develop the credit team.
Meet collection objectives and targets set by Finance Director.
Customer credit evaluation for NATO organizations based in Afghanistan.
Have a team of two people directly reporting - sending statements, accounting receipts, reconciling accounts for customers and other routing data entry work.
Co-ordinate with Invoicing Team and Theatre staff to ensure customers based in Afghanistan and other regions get invoices on time to process invoices on time for customers to pay on time.
Ensuring customers get timely invoices, statement of accounts, and proper follow up is made for collection of overdue invoices.
Maintaining spread sheets for regular follow-ups done and collection target achieved.
Maintaining spreadsheets for Debtors Analysis, calculating DSO for every customer, as well as on quarterly basis for the MIS reports.
Maintaining spread sheets for providing Working Capital Report to the Finance Director.
Periodic review of doubtful debts accounts.
Checking the credit worthiness of the customers by rolling the credit applications through Decol Debt Collections Agency, Dubai, UAE.
Customer credit evaluation for Non-Government body customers in the Gulf region.
Customer credit evaluation for Government bodies customers in the Gulf region
For effective Credit Control - faxing overdue statements to all customers on Monthly basis and periodic review of all debtors credit limits.
Maintaining spread sheets for regular follow-ups done and collection target achieved.
Maintaining spreadsheets for Debtors Analysis, salesman-wise, division-wise, cost-center wise.
Maintaining spread sheets for providing weekly Working Capital Report to the General Manager.
Weekly and monthly Cash Flows and Forecasts ensuring that the forecast made is in par with the cash flow.
Periodic review of doubtful debts accounts.
Month-end closing and preparation of schedules for all assets and liabilities on monthly basis.
Handling Maintenance Contracts, ensuring invoicing is done and contracts are renewed on time for hospitality business.
Handling invoicing for adhoc jobs done by engineering department, ensuring time sheets entered, and proper documentation like LPO attached.
Dispatching all invoices through couriers and or mailing to the customers promptly.
Liaison with Auditors at the year-end.
Banking (Deposits, Inter Transfers, Letter of Credit and Guarantees, Correspondence and communication).
Monitoring Inter Company accounts of SERCO and other affiliates of IAL like ATS i.e. Aeradio Technical Service.
Regularize Clientele account by processing Credit application through leading Debt Collection Agency based in Dubai, DECOL Debt Collections.
Maintaining Business Analysis and profitability records for credit clients.
Ensuring credit granted is within the company policy.
Monitoring billing process, following up with the clients, meeting clients for reconciliation and sorting out all problem related issues.
Periodic review of debtors with Sales Manager and Salesman.
Preparing sales report on weekly, monthly and quarterly basis.
Handling collections single handedly for 11 Salesman, Sales Manager and Branch Manager.
Preparing comparative figures of Sales and collection reports of the previous year in relation to the current month / year with graphs.
Job costing for all business products.
All the reports were made exclusively on Microsoft Excel.
Handling insurance for the whole group.
Updating insurance policies of all units with additions, deletions, changes, transfer and Marine Insurance policies for cargoes etc.
Checking the draft policies, rates with the listed rates agreed in advance.
Accounting of Debit notes and Credit notes for the whole group.
Reconciling accounts of the whole group and ensuring payments to Insurance Company on agreed terms.
Banking - (Handling bank loans taken by the company from various banks, Handling Trust Receipts, Letter of Credits and other bank guarantees utilized by the group.
Updating schedules of the Bank Loans to be provided to management on monthly basis.
Reconciliation of bank accounts.
In the year 1994, was promoted as a Deputy Chief Accountant for Al-Shirawi Air Conditioning Co. LLC.
Job Description:
Reporting to Group Financial Controller - handling finalization of accounts.
Monthly closing of accounts.
Monitoring and controlling expenses, controlling inventory and credit control.
Managing bank accounts and projecting cash flows and payroll for staff and technical persons.
Preparation of various schedules and liaising with Auditors for drafting financial statements of the company.
In the year 1995, company introduced a new division, Leminar Air-conditioning Co. LLC.
Single handedly segregated accounts for two companies i.e. Assets and Liabilities.
Finalizing monthly accounts for both the companies.
Making database of the factories workers, work schedules, targets achieved.
Data backups and restoration of Data.
Generation of various reports using Database Management Tools.
Creating History database and Indexing of databases.
Preparing manual and computerized general ledger of all the customers.
Preparing manual trial balance of the company.
Reconciliation of bank accounts.
MBA Finance and Banking
B.com