Deputy Manager Accounts & Finance
Zahidjee Textile Mills Limited
Total years of experience :9 years, 4 Months
Worked as Deputy Manager Accounts & Finance in Zahidjee Textile Mills Limited, Public Listed Company having state of the art different spinning / weaving units with annual sales of 15 billion Rupees. I managed a team of 10 accounting specialists responsible for payroll, accounts payable and receivables.
Main responsibilities:
• Maintaining day-to-day Accounts, preparing receipts, payments, payroll, invoicing and journal vouchers.
• Banking Transactions, Bank Reconciliation, and Payable accounts reconciliations.
• Maintaining petty cash transactions and statements
• Effective cash flow management, Budgeting & Analysis.
• Preparing payment for suppliers and aging analysis of debtors
• Handling internal and external audit work support to solve the queries and provide the necessary documents.
• Preparing financial statements and reports on a monthly basis for management.
• Preparing monthly/ annual budgets and forecasts in coordination with Marketing, Branding, Sales, Media and Procurements departments.
• Preparation of financial projections for internal use and provision to banks for financing.
• Developed forecasting tools to analyze revenue variance, business pipeline and industry trends.
• Managing Working capital requirements to maintain liquidity.
• Analyzed financial statements against forecasts to prepare high-level variance analysis.
• Oversee financial department employees, including financial assistants and accountants.
• Contract outside services for tax preparation, auditing, banking, investments, and other financial needs as necessary.
• Track the company’s financial status and performance to identify areas for potential improvement.
• Present financial reports to board members, stakeholders, executives, and clients in formal meetings.
• Understand and adhere to financial regulations and legislation.
Main Achievements:
• Reduced Import / Purchase costs 5% by negotiating pricing and obtaining discounts from suppliers, while ensuring the continuation and enhancements of services.
• Reduced marine & other insurance costs by negotiating very cheaper rate with insurance companies.
• Identified extra costs of around 2 million rupees paid to import agents and obtained refund of excess paid.
• Negotiated better interest rates from banks on financing by personally visiting bankers along with CEO/CFO.
• Reduced factory and other overheads cost by 25% by implementing tighter controls and better utilization or resources.
• Increased frequency of reports from quarterly to monthly and then weekly.
• Reduced days receivables from 45 to 30 days.
• Developed good relations with bankers and government officials.
• Established and maintain financial policies and procedures for the company.
I worked as a Senior Audit Associate at Nexia International - Riaz Ahmad & Co. My responsibilities mainly include but are not limited to the following:
• Execution of the Assurance / Engagements which include but are not limited to a) External Audits as per IFRS and Applicable Financial Reporting Framework (b) Review Assignments (c) Due Diligence Procedures (d) Internal Audit e) Implementation of IFRS (f) Internal Control Design Assessments & (g) Bookkeeping on quick books.
• Review audited financial, operational and regulatory compliance deficiencies and conduct follow ups;
• Evaluating, at planning stage of audit, various controls including internal controls over financial reporting and operational controls, identifying risks/ weaknesses/ inefficiencies in the controls;
• Planning, execution, review and finalization of assigned jobs as team lead;
• Proactively assisting in the management of several clients and reporting to Managers and above;
• Training and leading team member;
• Coordinating and establishing an effective relationship with clients as per requirement of assigned task; and
• Preparation of reports in accordance with the Companies Act’s requirements (Where applicable) and firms methodology.
Worked as Finance Executive at Outfitters Stores (Renowned Retail Chain in Pakistan). I worked under the supervision of Manager finance and CFO.
Main responsibilities:
• Maintaining day-to-day Accounts, preparing receipts, payments, payroll, invoicing and journal vouchers.
• Banking Transactions, Bank Reconciliation, and Payable accounts reconciliations.
• Maintaining petty cash transactions and statements
• Effective cash flow management, Budgeting & Analysis.
• Preparing payment for suppliers and aging analysis of debtors
• Handling internal and external audit work support to solve the queries and provide the necessary documents
CA- CFAP QUALIFIED
Completed intermediate in science from GCU Burewala
