Ghassan Ahmed, Executive Internal Audit

Ghassan Ahmed

Executive Internal Audit

Al Rajhi Takaful

Location
Saudi Arabia
Education
Master's degree, Finance & Economics
Experience
20 years, 3 Months

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Work Experience

Total years of experience :20 years, 3 Months

Executive Internal Audit at Al Rajhi Takaful
  • Saudi Arabia - Riyadh
  • My current job since July 2013

Execute the risk based Internal Plan approved by Audit Committee encompassing the following:

-- Finance
- Receivable
- Payments
- Bank Reconciliations
- Investments
- Premium Collections, matching & Commissions

-- Motor (Retail & corporate) Third Party & Comprehensive
- Underwriting
- Claims (Registration at FNOL, Workshop allocations, Survey, Processing, Approval, Payments, Recovery / Salvage)
- Regulatory Audit (SAMA)

-- Health (Retail & corporate)
- Underwriting
- Claims
- Approvals
- Network Management

-- General
- Underwriting
- Claims
- RI Management

-- Protection & Savings
- Policy Issuance
- DSF Management
- Commissions

-- Human Resource
- HR process Audit
- HR Strategy & Budget Audit

-- Branch Visits

Assistant Manager (Internal Audit) at American Life Insurance Company (Pakistan) Limited
  • Pakistan - Karachi
  • September 2008 to May 2013

Internal Audit

-Audit Planning for Agency Offices & Business Unit Departments/Functions

-Audit of Agency Offices and Business Unit Departments/Functions

-Testing of Anti-Fraud, AML & FCPA program & procedure

-Analysis of Financial Statement, commentary of results based on non-financial statistics, for Audit Committee to recommend approval of accounts to the Board of Directors

-Review and verification of business units work flow

-Review of Policy Master File (PMF), Policy Movement Report (PMR), reconciliation of GL with subsidiary records & bank reconciliations for all collection & disbursement bank accounts.

Compliance

-Evaluation of inherent & residual operational risks compiled in risk library using RCSA methodology

-Evaluation of controls by design & effectiveness

-Work with departmental heads to develop & implement mitigating actions for control deficiencies

-Improvement/enhancement in RCSA Library through Bottom-up Risk Assessment

-Reporting high risk areas either inherent or due to deficient control through Openpages utility for centralized monitoring

-Ensuring compliance with

local Regulations:
oInsurance Ordinance 2000
oInsurance Rules 2002
oSECP Code of Corporate Governance 2012

Company policies, guidelines and procedures:
oForeign Corrupt Practices Act 
oInformation Privacy and Security - PII
oRecord Retention and Destruction Policy
oOFAC Procedures  Verification through datanomics
oAnti-money laundering Policy and Procedures

-Compliance training through periodic circulation of presentations, separate training sessions & agency visits

Executive Officer (Finance) at Swisstex Chemical (Pvt.) Ltd
  • Pakistan - Karachi
  • January 2008 to September 2008

Develop and implement a complete system for calculation & reporting of Stock Values

Transformation to Standard Costing method from Average costing method

Ensure month end closings are completed in an accurate and timely manner in ERP system

Import Consignment Costing

Review account receivable reports and follow up promptly on out-standings payments

Implementation of ERP - Oracle Release 11i
General Ledger
Fixed Assets
Cash Management
P2P (Procure to Pay) Cycle - Purchasing, Inventory, Accounts Payable
O2C (Order to Cash) Cycle - Order Management, Inventory, Accounts Receivable

Executive Officer at New Jubilee Life Insurance Company (Pakistan) Limited
  • Pakistan - Karachi
  • January 2004 to December 2007

Achievements

-Developed excel spreadsheet for systematic implementation of newly adopted travel policy

-Develop a system for systematic transfer of funds and control over recording of transactions & Fund balances

Duties & Responsibilities

•Implementation of ERP - Oracle Financials 11i Modules - General Ledger (GL), Fixed Assets (FA), Accounts Payable (A/P), Cash Management (CM)

•Ensure month end closings are completed in an accurate and timely manner in ERP system

•Reporting (ERP-Oracle Financials 11i); Financial Statements
Develop Statuary Financial Reports on FSG (Financial Statement Generator) Utility of GL Module.
Develop (both Financial Reports & internal MIS) on FSG (Financial Statement Generator) utility of GL module

•Fixed Assets (ERP-Oracle Financials 11i); Fixed Assets Accounting
Administration of Fixed Assets
Run Depreciation
Fixed Assets & Depreciation Schedules for Financial Reporting
Maintaining Fixed Assets Books with control over tagging

•Accounts Payable -A/P (ERP-Oracle Financials 11i);
Supervise Payment processing and recording of payment transactions
Checking of payments according to the delegation of financial powers & organization policies
Maintain Supplier & Employee database in A/P Module
Month end adjustments required through A/P Module for reporting.

•Maintain Chart of Accounts, proper documentation of opening and closing of accounts and integration with sub-ledgers

•Monitoring and preparation of Management Information Report at head office level of funding requirements on a daily basis for Investments.

•Identification & articulation of process improvements; business process re-engineering

•Controlling the accounting of and ensuring completeness of the receipts, payments and banking transactions of the Company via the Bank Reconciliation process

Education

Master's degree, Finance & Economics
  • at University of Karachi
  • July 2008
Diploma, Business Accounting
  • at CImA Global
  • August 2003
Bachelor's degree, Statistics; Mathematics and Economics
  • at University of Karachi
  • November 2000
High school or equivalent,
  • at D.J. Sindh Govt Science College
  • April 1998
High school or equivalent,
  • at Jennings Secondary School
  • March 1996

Specialties & Skills

Month End
Costing
Economics
ERP (Oracle Financials 11i)
OpenPages 6 (GRC)
MS - Office (Excel, Words, Power Point, Outlook)

Languages

English
Intermediate
Urdu
Intermediate

Training and Certifications

IFCE (Certificate)
Date Attended:
November 2013
Valid Until:
January 9999