فيصل عثمان

As a de-facto Financial Controller and reporting to the CEO, I am responsible for all Finance & Accounting functions as well as value-adding finance activities, inter alia including:

ACCOUNTS
• Leading the accounts function and managing a team of 6 people across different streams of accounts payable, accounts receivable, procurement and general accounting
• Ensuring timely TB closure & Financial Reporting within the set reporting deadline
• Ensuring GL and TB integrity through approval & monitoring of entries
• Banking, Cashflow, Supplier & Receivable Management
• Coaching accounts personnel from time to time, organizing and conducting trainings
• Budget Preparation of Group companies along with variance analysis
• Liaising with the external auditors, bankers and other entities

FINANCE
• Comprehensive Management Reporting including both Operational and Financial Analysis
• Product Costing & Pricing - Customer Profitability Analysis (CPA) & Product Profitability Analysis (PPA) - conceived a new, simplistic internal benchmark for analysis. Recommending action plan for Revenue & bottom-line maximization
• Secured bank funding/ facility restructuring under the toughest conditions
• Coordinating closely with bankers for strategic & operational issues such as banking limits utilization & structuring, facility renewal as well as responding to bankers queries
• Financial presentations such as Group Information Memorandums (IM), Project Feasibilities, Banking Proposals, etc.
• Building advanced MS Excel financial models including multiple scenario sensitivity analysis, IRR, DSCR and detailed analysis thereof and innovative financial charts These models have been utilized for internal historic and projected financial information for each subsidiary (for Bankers, IM) and for upcoming projects (Project Feasibilities)
• Drafting, Advising and Negotiation of Legal and Commercial contracts

ERP
As a focal member of internal ERP team that steered the organizational direction in implementation and operation of ERP:
• In the initial EPICOR implementation and Go-Live, I coordinated with various departments and external consultants to ensure smooth transition. I was involved in procuring base data, verifying & remediating issues therein while ensuring all operational aspects worked seamlessly
• This enabled me to obtain a holistic understanding of EPICOR system, including both financial & operational components.
• To date, I am deeply involved with IT in addressing implementation and operational issues such as base data integrity, user compliance issues, creation of new dashboards & reporting tools and working around system handicaps

Keywords: Manufacturing Terminals Accounts Finalization Monthly Close Audit ERP MS Excel Accounts Receivable Accounts Payable Bank Reconciliation Stock Taking Inventory valuation Fixed Assets management Budgeting Variances VAT MS Office Analysis Projections Budget Banking Financial Models Trade Finance Costing Pricing

Directly reporting to the Director Finance, I am primarily responsible for the financial and operational matters of Heli Dubai.

The company is building up its finance, internal controls and operational policies & procedures from scratch and I am playing a key role in making it possible.

My main responsibilities include:
 Evaluating financial feasibility of the new project by constructing a financial model / budget and carrying out detailed costing studies
 Preparation & analysis of monthly financial statements
 Managing cashflows and liaising with financial institutions
 Maintenance of the general ledger and posting entries therein
 Preparation of supplier, payroll and bank payments, billing and receivables collection, revenue verification and bank reconciliations
 Development of SOP's and Internal Controls for the new operations
 Development of a billing and receivables system for the new operations
 Overseeing the selection and dry-run of a comprehensive Reservations Software, financial integration thereof and setup of the call centre

This role primarily entails financial due diligence of clients, financial modelling and financial advisory to clients. Broadly, my responsibilities entail:
- Financial and Business Analysis & Evaluation
- Carrying out due diligence by carefully evaluating financial statements and projections
- Designing and evaluating comprehensive financial models.
- Advising internal management and external clients on innovative solutions and issues involving IFRS, corporate and tax regulations.

I have worked as a Senior in both the Assurance Group (External Audit) as well as the Internal Controls Advisory Services (RAS) of the firm. My experience in diverse fields of assurance and advisory has helped me not only to gain experience in accounts preparation and finalization but also to appreciate the significance of internal controls and risk management in an organization.

ASSURANCE GROUP
Working in the Assurance Group of the firm has enabled me to develop a comprehensive understanding of the business environment and the accounting and internal control systems implemented at diversified institutions.

Furthermore, it has given me experience in practically implementing International Financial Reporting Standards (IFRS) and conducting assurance engagements in accordance with International Standards on Auditing (ISA). My key responsibilities at various clients included:

 Assisting clients in preparation of Financial Statements and related disclosures in accordance with the International Financial Reporting Standards (IFRS) and local regulations
 Audit engagement planning and supervision
 Understanding of key business processes and assessing risks thereof in order to properly direct audit effort
 Evaluating internal control systems, identifying control weaknesses and making appropriate recommendations
 Managing client relationship
 Reporting to senior management of the firm
 Ensuring completion of tasks within the given deadline
 Pro-active decision making for resolution of critical reportable matters
 Coordinating with legal, actuarial and IT experts for resolution of complex matters
 Reviewing work of junior staff, on-job training and professional development of staff

INTERNAL CONTROLS ADVISORY
My experience in business consulting has helped me to gain an appreciation of internal control policies and procedures in an entity. Further, it has equipped me with the capability to carry out a critical assessment of internal controls and suggest appropriate remedial action for any organization. Key responsibilities included:
 Obtaining an understanding & documentation of different business processes and related controls
 Development, review and finalisation of “As-Is” and “To-be” process documentation and the resulting “Gap Analysis and Recommendation reports” based on best practice & benchmarking studies
 Development of “Risk and Control” documentation comprising of entity wide financial reporting controls
 Development of “Recommendations/ Implementation plans and timelines” in concert with key management personnel