Manager Internal Audit
Code Minerva Management Consultant L.L.C.
Total years of experience :35 years, 11 Months
Planning and execution of large Trading and Manufacturing entities Financial / operational Auditat all business aspects such as finance, HR, admin, production, maintenance, sales, after sales, marketing, Safety, Planning, Budgeting, Treasury, Procurement, Warehouse etc.
Performing audit assignments in compliance with the international internal Audit standard
Generating Ideas to maximize assignment profitability.
Identifying of potential efficiency improvement.
Compiling Audit reports to senior Management.
Draft Audit reports for review by the lead Auditors and senior manager.
Identify any gap in controls and make practical recommendations
• Lead AP / AR and treasury team including allocation of workload between Team Members, determination of priorities, review team Members work and support to meet high work demands.
• Manage and oversee AP and related processes including managing suppliers accounts, debit notes, and reporting within framework of accounting policies.
• Effectively recovered AED.150k excess payments and cleared prior period advances AED 200 M.
• Ensure accuracy and completeness of AP data such as supplies invoices and debit notes processed by the Team Members, Monitor high value transactions & provide financial concurrence.
• Manage effectively treasury related process including processing of customers receipts and suppliers payments, currency maintenance and liaising with Banks and other Financial Institutions whenever required.
• To assist in the effective management of cash within the departments by ensuring emergency payments in accordance to policy and arrange emergency funds as needed for organizational requirements.
• Supervision for timely processing of all type of payments activities. (Cheques, Bank transfers, local and international and employees final settlements) and final review of all payments.
• Managing and processing of fund request. Reconciliation of payments and outflow of funds.
• Supervise and effectively coordinate with activities of payable and treasury staff and solving their accounts queries and system related issues.
• Supervising of Bank reconciliation and cash position on daily basis for management review and decision making.
• Handle Bank guaranties received from contractor’s and issued by EO for their renewal and cancellations.
• To alert user department on expiry of suppliers Bank guarantee received to determine if further action required.
• To handle letter of credit namely opening, amendments and follow up in an expedient manner.
• Liaise and co-ordinate with internal and external auditors to ensure that recommendations made by them are reviewed and implemented.
• Monthly reconciliation of Advance and suppliers accounting.
• Guide and motivate staff so that they perform to the best of their ability and produce quality work.
• Examine and analyze journal and ledger entries, bank statements, inventories, expenditures, and other accounting and financial records, documents and systems of an individual, department, company or other establishment to ensure financial recording accuracy and compliance with established accounting standards, procedures and internal controls.
• Ensuring punctual payments to suppliers on due dates. Monitor and review payable ageing on regular basis to ensure payments within due dates.
• Coordinate with Department Heads to facilitate timely preparation of departmental Budget.
• Develop, implement & maintain budget templates and annual budget calendar for Departments & Projects, after approval from Head Budgeting.
• Investigate reasons for budget variances and provide variance analysis to management.
• Monitor liquidity & ensure funs are available to meet short term business needs, therefore, closely liaise with Treasury function.
• Liaise with other sections within the Finance Department to ensure proper financial planning and coordinate financial activities on periodic basis.
• Manage and oversee the FA related processes including capitalization of completed projects, FA, additions, transfers, disposals, demolition, depreciation, impairment assessment, physical count, other FA record keeping, month- end adjustments, & periodic reporting within the framework of established accounting policies & procedure.
• Assume overall responsibility for the inventory related processes including additions, issuance, disposals, physical count, other inventory related record keeping, month end adjustments
• Ensure accuracy & completeness of inventory data further to various inventory related transactions processed by Team Members.
• Ensure capturing all relevant details related to inventory that includes description, classification, date purchase, location, etc & ensure the value of inventory ledger tallies with general ledger.
• Oversee the processing of monthly payroll subsequent to verification of applicable inputs administered H.R Department.
• Oversee accounting for applicable provisions & accruals for employees.
• Oversee month/year- end closing & consolidation of accounts to achieve target closing dates.
• Ensure accuracy and completeness of period end accruals as well as reversal of such accruals post period.
• Coordinate annual audit with external auditors by coordinating provision of information required, clarifications required etc to ensure year end audit is accurate & completed timely.
• Ensure accuracy & completeness of AR data, such as customer invoices customer statement & credit notes, processed by team members.
• Ensure ongoing adequacy of AR processes & controls to safeguard collection & deposit of funds.
• Liaise with treasury to ensure reconciliation of receipts and applicable inflows of funds.
• Monitor revenue realization and review debtors aging report on a regular basis and follow-up on overdue invoices with concerned departments.
• Monitoring Prepaid Accounts, Monitoring Stock taking, Variance cycle & updating it. Making Stock Depreciation, Checking Integrity G / L to Item Ledger and Cardex to value book to ensure stock value in books are correct, S .T & O .T, Analyzing Sales, Cost, Margin ( G / P ) .
• Prepare all management reports on the various company accounts,
• Responsible for closing books at month end, prepare financial statement and supporting schedules
• Analyze revenue & expenses to ensure they are recorded appropriately on monthly basis.
• Assist the financial manager with projects as required.
• Assist with financial audit & corporate reporting requirement, provide all necessary data and answer any question received from the auditors.
• Maintain Banking mandate and update as necessary.
• Cash & Bank Management related to assigned area and preparation of report on collection.
• Assist on documentation and monitoring of internal control.
• Payroll preparation of the staff.
• Analyzing credit risk, Approving Credit limit & setting up in Customers Accounts.
• Controlling cash transactions.
• Assist staff on costing.
• Supervise staff to Prepare Export L/C documents & Negotiate with Bank, Following L / C payments through Applicant Bank to get payment as per Credit terms mentioned in Documentary Credit. Corresponding with Banks, Agents and Overseas Customers.
• Analyzing Sales, Cost, Margin (G / P) and return on Investment Handling Accounts Receivable and Payable.
CURRENT ACCOUNTS DEPARTMENT-1987-1990
• Deposit- current / Saving / call / Time Account, operation of loan overdraft account, supervision of cashier & tellers, cash management remittances ( Inward / Outward /DD /TT / Manager Cheques) supervision over mail, book keeping and submission of returns to central Bank. Checking MIS Report, Reconciling Inter Bank Accounts.
CREDIT DEPARTMENT: 1990-1993
• Worked as credit Officer, the job involved analyzing Financial statement to get actual Financial position of business concern in monetary terms Preparing securities Documents against advances, taking care of cheques received for discounting, setting credit limits & discuss all these limits with the ( CCMC ) to take the final Approval, Investigate and verify financial status & reputation of customers applying for credits, interact with direct customers and facilitate their investment requirements and ensuring credit proposals are within lending guidelines, conduct periodical visit to the customers that they are in good financial condition, visiting warehouse for stock verification and time to time collecting customer information from market about business. Making Loan Proposals Submitting to Management for Approval. Securities/Cash/Trade transactions and obtain Account Statements and Securities reports. providing support to corporate and internal clients utilizing Mashreq Bank products etc,
TRADE FINANCE CENTRE: 1993-1998
• Issuance of letter of credit Lodgment / settlement of L/C documents, Lodgment & settlement of documents received under collection /checking export / import documents. Claiming credit from reimbursing Bank Handling discrepancies. Discounting Bills. Thorough knowledge of payment structuring, Swift messages types, Account Statement reporting, Letters of Credit, Documentary Credit and Bills of EABC change.
Passed Intermediate Exam
Have Passed Final exam with 65% Marks
Passed Banking Diploma
