Head Finance l Cum Fund Raising Specialist
Faisal Ali Mousa Holdings - Property Development ,Real Estate & Construction
Total des années d'expérience :17 years, 2 Mois
Expertise in handling Treasury Functions including Fund Raising, cash Flow Management, Banking for USD $ 100 Mn projects and supervision, control, preparation and management of MIS, Closure of Monthly Financials, Accounts, IFRS, VAT, Consolidation, Implementation of Software, Finalization of Books of Accounts, Budgeting, Planning, Project Monitoring, Forecasting, Variance Analysis, Internal and external Audits, Internal controls, AP/AR, Receivable Management, Reporting, Inter-Company reconciliation, SOP’s and Team Management, Listing Company in Abu Dhabi Stock Exchange.
Have a relationship with all the major banks in MENA Region for fund raising and Daily Banking with Citi, Gulf International Bank, First Abu Dhabi Bank, Mashreq, UNB Bank, Habib Bank, National Bank Of Oman, Barclays, National Bank of Furjerah, Bank Misr, ADCB Bank, HSBC, Bank Of Baroda, ICICI Bank, MCB Bank, Bank Of Sharjah, RAK Bank, Arab Bank, Emirates Islamic Bank, CBI Bank, CBD Bank,
Offering post-qualification experience of 15 years in UAE (total 20 years) formulating strategies across Corporate Treasury, Fund Raising/ Syndication, Banking- Finance and Operations for MENA Region..
The Main Sectors handled are EPC (Onshore/Offshore), Oil & Gas, Marine, Power, Energy, Investments, Facility Management, Infrastructure, Recruitment, Hospitals, Hotel, Manpower Education, Real Estate..
Having a Strong Experience in Fund Raising, Restructuring from MENA Bankers, Fund Entities in UK, Insurance companies etc.
Leading a team to control & manage the accounts, internal and external audits, AP/AR, credit control, receivable management, backlog reports, month closing, consolidation, P&L analysis, variance analysis, budgeting, forecasting and many other tailor made reports
Provided insight on financial decision-making process through analysis, financial projections.
Excellence in cash flow management, long & short-term funding, credit control, economic & industry comparisons, business MIS, strategic & annual planning, benchmarking analysis.
Ensured management reporting, audits & statutory compliances
Excellence in successfully coordinating with bank officials and nurturing relations with international bankers for Financing & Syndication Deals; maintained a strong database of international & local bankers across MENA, CIS and India region for fund raising
Excellence in building strong, lasting relationships at all levels; excellent communicator with aptitude for collaborating with internal & vendor executives, and key stakeholders to identify business needs.
• Managing the Group Fund raising for new / existing business, GCC and Europe and managing the covenants, renewals, disbursement of banks / NBFCs
Coordination with RERA and land departments for mortgage, registration and release of funds for contractors.
• Controlling Cash flow Management, Day to Day Banking and MIS reporting for business and consolidated group level.
• Banking / Fund raising /syndication / Project finance/restructuring the existing facilities (fund and non fund based), Bank Guarantees, working capital, Bank overdrafts, term loans, factoring, Letter of Credit, etc.
• Liaising with new banks for fund raising, KYC and account opening in MENA, South America, UK, and Spain.
• Hedging the long-term currency transactions and bank long term facilities to reduce the cost of borrowing.
• Proposals for the new investments for banks and interested investors and Equity Partners for Oil & Gas, Real Estate, Hospitals, properties, Hotels, Education, schools, Marine, EPC Construction and facility management, employment and recruitment, Tasheel, Oil Trading, Telecom, Labour Camp.
• Managing the personal investment portfolio of chairman and movement of investment in diversified securities
• Managing Project progress, MIS, Budgets, Variance Analysis, chairman’s report, Equipment Utilization, Revenue / Cost benefit analysis, Backlog, receivable management, AP/AR , internal and external audits, etc.
• Finalizing the business models and charts for the existing and new business and designing the SOP’s and DOA.
• Drafting the feasibility reports with the planning departments for investment and business acquisition.
• Coordinating for the renewals, mortgage, insurance, security documents with the internal team and bankers.
• Cost control initiatives and Review the profit centers reports and all the contracts and profitability and compare with the budgets and Strategic Decision making for opening branches, kiosks for business centers
• Implementation of Internal control and procedures from petty Cash, fuel, airfare, lodging etc.
• Supervising and follow-up for the invoicing and collections & Receivables and involve the Legal, .
• Cutoff date for monthly closing and MIS reports in the desired format with the variance analysis for the business drives with budgets and consolidation of books of accounts
• Weekly meeting resolutions between finance, cost control and other related departments.
• Managing the Group Fund raising for new / existing business and managing the covenants, renewals, disbursement of banks.
• Coordination with RERA and bankers for Escrow bank accounts and release of funds
• Controlling Cash flow Management, Day to Day Banking and MIS reporting for business and consolidated group level.
• Banking / Fund raising /syndication / Project finance/restructuring the existing facilities (fund and non fund based), Bank Guarantees, working capital, Bank overdrafts, term loans, factoring, Letter of Credit, etc.
• Hedging the long-term currency transactions and bank long term facilities to reduce the cost of borrowing.
• Proposals for the new investments for banks and interested investors and Equity Partners for EPC, Oil & Gas, Real Estate, Hospitals, properties, Hotels, Education, Marine, EPC Construction and facility management.
• Managing the personal investment portfolio of chairman and movement of investment in diversified securities
MIS, Month close, Audit & Reporting
• Supervising the month close activities, invoicing, bank and account reconciliations, GL Entries, Accruals
• Managing Project progress, MIS, Budgets, Variance Analysis, chairman’s report, Equipment Utilization, Revenue / Cost benefit analysis, Backlog, receivable management, AP/AR , internal and external audits, etc.
• Finalizing the business models and charts for the existing and new business and designing the SOP’s and DOA.
• Drafting the feasibility reports with the planning departments for investment and business acquisition.
• Coordinating for the renewals, mortgage, insurance, security documents with the internal team and bankers.
• Cost control initiatives and Review the profit centers reports and all the contracts and profitability and compare with the budgets and Strategic Decision making for opening branches, kiosks for business centers
• Implementation of Internal control and procedures from petty Cash, fuel, airfare, lodging etc.
• Supervising and follow-up for the invoicing and collections & Receivables and involve the Legal,
• Cutoff date for monthly closing and MIS reports in the desired format with the variance analysis.
• Weekly meeting resolutions between finance, cost control and other related departments.
• • Banking / Fund raising /syndication / Project finance/restructuring the existing facilities (fund and non fund based), Bank Guarantees , Bank overdrafts, term loans, factoring, etc.
• Liaise with new banks and enhance the bank borrowing Closing and reconciliations, Cash follow management, Receivable & billing system, Reporting, MIS Defining the roles and KPIs of each team member to smooth work flow.
• Setting up the KPI for new businesses and re-arranging the KPIs for the existing businesses to understand the real business scenario
• Act a business partner to the CEO to guide and build value in the company.
• Provide support to the Board of Directors and shareholders as needed.
• Oversee financial elements of strategic partnership and/or M&A efforts
• Plans, develops, organizes, implements directs and evaluates the Company's fiscal functions from every relevant perspective.
• Manage treasury, finance, accounting and compliance functions with the necessary processes and internal controls to safeguard the corporate assets.
• Coordinate the preparation of financial statements, financial reports, special analyses and information reports.
• Provides timely, accurate analysis of budgets and financial reports to assist the CEO and other executives with their responsibilities.
• Manages budgeting and long term financial planning process. ( Company & consolidated for the region & group)
• Supervising the internal, external audits periodically.
• Provides strategic financial input and leadership on decision-making issues affecting the Company (i.e., growth, new markets, and evaluation of potential alliances, employee benefits, retirement plans, and investments).
• Evaluates and advises on the impact of long-range planning, introduction of new programs/ strategies and regulatory interactions.
• Continually improves the timeliness and accuracy of the Company's cash flow and management of the billing and collections process and month end, quarterly and year end closings
• Ensures compliance with all tax reporting requirements including VAT, Customs income tax, franchise tax.
1. Funds raised /Financing arranged / in process of arranging For the following entities
1.1 Oil & Gas (EPC & trading)
1.2 Outsource & manpower
1.3 Telecom
1.4 Facility management
1.5 Travels, Tourism and rent a car
1.6 Labour camp accommodation for 50, 000 spaces
1.7 Tasheel
1.8 Catering
1.9 Laundry
1) Banking / Fund raising /syndication / Project finance ( fund and non fund based) for construction, oil &gas, Infra, power, energy projects at the reduced borrowing costs.
2) Assist the BD team for the new countries taxation and involvement in the monthly group review meetings to know the strategy.
3) Working closely with the project teams to get the progress as per the expectation to get the revenue/sales /profitability as per the expectation and forecast.
4) Participate in preparation and reviewing the budgets, forecasts and discussing the same with the projects managers and other departments to understand the reason for variances and providing recommendation to higher management
5) Managing and Supervising the AP/AR, daily banking, Debtors WIP aging and providing the feedback to higher management.
6) Negotiation with the big ticket vendors for the payments and WHT terms to maximize the use of available resources and funds flow
7) Arrangement of Bid Bonds, Performance bonds, Advance payment, retention bonds and other funded and non funded requirements within the timelines.
8) Preparing a Financial strategy and finance modules to direct the funds for optimum utilization and for the growth of the company.
9) Preparation, consolidation and management of regional cash flows, forecasting as per the policy.
10) Build, maintain and having the database of bankers/financial institutions for projects of high values and less borrowing costs
11) Meet accounting financial objectives by forecasting requirements; preparing an annual budget; scheduling expenditures; analyzing variances; initiating corrective actions
12) Designing, implementing and managing a budgeting/planning/forecasting system and framework including closely co-ordinating with and challenging all key departments and stakeholders
13) Reporting the P&L and reconciliation of bank accounts, balance sheet accounts as per IFRS.
14) Develop, implement, and ensure compliance with internal financial and accounting policies and procedures
15) Manage the cash flow and prepare cash flow forecasts in accordance with policy
16) Establish guidelines for budget and forecast preparation, and prepare the annual budget
17) Ensure the monthly and quarterly Bank Compliance activities are performed in a timely and accurate manner
18) Develop external relationships with auditors, solicitors, bankers and statutory organizations. Annual Audits for Group companies.
19) Assist in development and implementation of new procedures and features to enhance the workflow of the department. Participating and influencing business budget reviews
20) Providing financial and commercial support on and/or leading projects including the establishment of a shared service centre
21) Ensure quarterly and annual financial statements and ad hoc financial reports
22) Oversee all payroll functions to ensure that employees are paid in a timely and accurate manner
23) Internal audit of financial systems, internal controls and business processes.
24) Monitors and analyze department work to develop more efficient procedures and use of resources while maintaining a high level of accuracy.
PROJECT ACCOUNTING
Attending Project meeting at the time of Kick off and review meetings to implement the cost control techniques and prepare the project cost status report (PCSR) useful for analysis and align with the requirement of finance and project controls.
Supervise all the Project accounting activities for MENA projects -ensure correct recording, project accruals and maintenance of books of accounts and calculate the cost and revenue for the projects and comparing the cost with budgeted and committed cost and updating of PCSR.
Provides accounting support to the assigned project(s) on a day to day .Reviews financial terms and conditions of proposed Contracts by monitoring compliance with accounting and company policies.
To ensure that commitments are within approved budgets and payments are within the approved commitments in accordance with Agreements and Company approved Policies and Procedures.
Enforcing compliance with Accounting policies and procedure for the accurate estimating and reporting of the financial results of the Projects.
Preparing monthly MIS with reports like Backlog Schedule, variance analysis, revenue profitability, for forecasting and monthly equipments utilization, revenue, cost, overhead corporate review
To Meet the subcontractors and help management to make the subcontractor/charter party agreement according to company policies and procedures and tax implications.
FINANCIAL AND TAXATION
Supervising the Bank & Balance Sheet reconciliation, preparation and Consolidation of Financial Statements of Middle East group companies.
Setting up master controls list for various audits (SOX, interim, internal, statutory and tax) and actively involved in conducting monthly, quarterly half yearly and yearly audits and implementation of remediation for the failures and ensures proper documentation and Audit trail for transactions and provides accurate and timely financial information, analysis and interpretations to the management. Quarterly and yearly 10K and SEC Reporting to US Corporate office.
Co-ordinate with Internal auditors(EY and D&T), tax and SOX Auditors (US Requirements) and providing satisfactory information and implementation of the remediation plan suggested by auditors to make strong internal control.
To Co-ordinate with Tax Consultants (EY) to filling quarterly and yearly tax returns and discuss with them tax related issues. To advice accounts payable regarding Withholding tax returns on invoices relating to vendors.
Inter-company reconciliation and settlement
Managing the monthly, quarterly, half yearly and yearly reports and providing the variances explanation to the management for each account and preparation and analysis of budget for the ME region and also providing bottom line variances for overhead and indirect cost.
Type of Degree Degree Qualified Chartered Accountant University Institute of Chartered Accountant of India Year of Complete May 2005 Score 55 %
Professional Bachelor of Commerce (Hons) Maharshi Dayanand University, India 1996-1999 68%
Higher Secondary (12th) Delhi Board, India 1994-1996 76%