Executive Manager - Head of MIS and Budgeting
Kuwait International Bank
مجموع سنوات الخبرة :18 years, 10 أشهر
》 Direct reporting to the CFO, and work closely with Senior Management team of the Bank
》Current profile is a control function which primarily involves day to day responsibilities relating to MIS reporting, review and implementing policies and procedures, forecasting and budgeting.
》 Liasoning with external parties such as rating agencies to facilitate annual ratings review of the
Bank, external and internal auditors etc.
》Supporting CFO with investor relation function of the Bank by conducting quarterly investor calls
and replying to various investor queries.
Detailed Job Responsibilities -
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• Business segment performance analysis reporting (Actual vs Budget)
• Profit margin (yields vs CoFs) analysis and reporting to management
• FTP (fund transfer pricing) computation. Owner of FTP policy of the Bank. Recommendation to
ALCO for change in FTP rates in case of change in market conditions/ business requirements
• Cost control and monitoring (capex & opex) with recommendation for cost optimization to CFO
• Peer analysis report on periodic basis
• Facilitate top management in decision making by providing daily/ weekly dashboards on overall
performance of the bank, economic update report on world/ GCC economy and Kuwait economy
in specific
• Preparation of detailed annual budget for the bank with monthly phasing broken down at product and currency level ensuring compliance to regulatory ratios
• Periodic review of policies and procedures and amendments if required
• Providing recommendations to top management on new product/ campaign feasibilities
Projects handled:
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• Part of task force (Key Finance Lead) to support implementation of new core banking software
(Temenos T24) in the Bank.
• Part of core team overlooking the LIBOR transition / Profit rate swap projects in the Bank
• Worked closely with external consultant for development and implementation of Fund Transfer
Pricing (FTP) methodology and related policies and procedures
• Worked with BCG (Boston Consulting Group) external consultants for formulation and
implementation of 5 year strategic plan for the Bank
Quick Wins:
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》》 Consistent growth in profits: Constant follow up with business divisions to achieve targets resulted in consistent 15% growth in Q on Q net profits for last 7 consecutive quarters.
》》 Ratings upgrade: With consistent follow up with the rating agencies, quick response to queries raised by rating agencies coupled with significant improvement in bank’s financial metrics resulted in 2 ratings upgrades in one year by one of leading international rating agency
• Complete overhaul of MIS as per changing business environment reducing MIS reporting time by 50%. Proposed changes, got approval and appreciation from management.
• Analysis of bank wide yields and cost of funds.
• Monthly preparation of division wise performance reports with variance analysis.
• Bank wide budget preparation with 5 year income projections on a yearly basis
• Actual performance vs. budget variance analysis
• Formulation & implementation of various policies and procedures
• Peer Bank analysis on a quarterly basis
• Analysis of Bank’s investment portfolio (and assessment of impairment)
• Monthly closure of Bank’s books of accounts
• Posting GL entries for income, expenses and accruals
• Ensure integrity of entries recorded in the Bank's General ledger
• Daily reconciliation of suspense GLs
• Managing chart of accounts
• Key responsibility for completion of Bank’s quarterly and yearly statutory audit
• Capitalization of fixed assets
Achievements :
• Received star achievement award in the first year of joining for transforming microsoft word based financial statements of the Bank into automated excel based financial statements.
• Finalizing audit assignment in compliance with International Financial Reporting Standards (IFRS) & IAS.
• Consolidation and Finalization of Books of Accounts.
• Develop detailed audit plans and programs.
• Evaluation of risk assessment and internal controls.
• Secure and enhance client relationships with the appropriate level of management and present a favorable impression of the firm.
• Coach and mentor less experienced professionals.
• Worked as audit incharge for the year end audit of the following well know clients :
• Alghanim Industries
• Alamana Insurance and Reinsurance Company
• Enaya Insurance Company
• National Investment Company
• Petroleum Coke Industries Company
• Sahara Trans Company
Key Responsibilities handled:
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• Keeping control on Premium booking and providing following MIS to management on fortnightly basis.
• Policies booked without money
• Unallocated Money details lying with the company.
• Cash Deposit balances.
• Providing monthly premium income figure to IRDA
• Managing and analysis of Cash Deposit Accounts of corporates vis a vis movement in balances & reconciliation of Cash Deposit Accounts on monthly basis.
• Analysis of funds received in Bank accounts and providing details of unallocated money lying for policy booking.
• Publishing MIS to Branches all over India for open items in reconciliations
• Liasioning with branches for any queries raised etc
• Leading a team of 5 associate trainees and maintaining and directing the flow of work to meet the deadlines put up by management.
Key Assignments handles for Corporate Sector client:
• Shaw Wallace Distilleries Ltd. -Statutory Audit, Tax Audit & Limited Review
• Jindal Vijaynagar Steel Ltd. - Tax Audit & Limited Review
• Godfrey Phillips India Ltd. -Internal Audit
• Eurotex Industries and Exports Ltd. -Tax Audit & Limited Review
• Beiersdorf India Ltd. -Quarterly Audit
Professional Qualification - Chartered Accountant (2008) Educational Qualification - B Com (2004)