Treasury Officer
SOCAR Trading Middle East DMCC
Total years of experience :11 years, 9 Months
• Wholly owned subsidiary of SOCAR Trading SA, Geneva - marketing arm of the State Oil Company of Azerbaijan Republic (SOCAR), owned by Republic of Azerbaijan
• Preparation, management of daily cash flows, projections and handling payments with daily activities comprising of different entities - Switzerland, UK, US, UAE and Singapore
• Coordination with internal stakeholders - operations, accounting, trade finance, traders, and Management in terms of payments, requirements on reports
• Handling over 30+ International banks, 230+ bank accounts individually, coordination with banks in terms of payments, loans, facilities, drawdowns, and other regular correspondences
• Active part during migration of new modules in Microsoft Dynamics; additional experience on TriplePoint \[trading tool\]
• Inter-company transactions, billing and receivables, payments and collections and ensuring timeliness in management of multiple entities within the Group
• Fund optimization of 7 different entities/ multiple currencies and continuous tracking of FX movement, global Oil & Gas market and currency fluctuations to optimize cash
• Part of Expleo Group with global presence in 25+ countries, 1.1 Billion Revenue and a public-listed entity in India \[listed both at NSE & BSE\]
• Handling Accounts Payable & Treasury Operations team \[team size:6\] with daily activities comprising of 4 wholly owned subsidiaries in UK, US, UAE and Singapore and 3 branch offices in Malaysia, Belgium and Philippines
• Responsible of all domestic, overseas vendor management, payments and other allied activities for all subsidiaries and branches
• Additionally handling treasury operations for 20+ bank accounts and fund management of 7 different currencies and continuous tracking of FX movement, global market and currency fluctuations.
• Monthly Cash Flow Statement, funds management between subsidiaries and branches and reporting to the Group
• Inter-company transactions, billing and receivables, payments and collections and ensuring timeliness in realizations and claiming of export benefits
• Additionally, part of MIS and Reporting team to ensure preparation of weekly/monthly reports/dashboards to CFO/CEO and to the Group \[HFM - Hyperial Financial Management\]
• New client business analysis: in-charge of financial analysis of any new potential business brought by Sales team, assessment and reporting for initial clearance for customer proposal and onboarding.
• ISUN Group \[small start-up\] had 3 different business verticals - Isun Technologies dealing with software development and hardware manufacturing, Isun Commercial & Insurance dealing with insurance products and Sritec Projects dealing with water and wastewater management related works.
• Dealing with different aggregators, developers, market players on commercials, negotiations and overall vendor management including credit terms, payments and liasioning with Finance for accounting and book closure.
• As part of Sritec Projects, was involved in tendering, purchases, negotiation with vendors, costing and budgeting, vendor payments and other financial aspects pertaining to execution of awarded job orders/contracts.
• Instrumental in synchronization of Finance, Technical, Sales and Marketing team in terms of business opportunity, budget, funds management and market penetration thereby handling a team of around 10.
• As part of Insurance vertical, handled various corporate settlement claims, new policy and premiums, integration of API with other external parties and all other commercial aspects.
• Was overall additionally responsible for fund flow management, BRS and other accounting aspects and was reviewing the Finance team of 4 thereby directly reporting to CFO.
• Coordination with External Auditor for the finalization of accounts of different companies, overall review of internal controls \[including Internal Audit Plan\] in place for all the group companies.
Consultancy SBU
•Handled clients in GCC - process documentation in leading Islamic bank in Muscat, Oman
•UAT Testing and setting up of ERP in a mining company - migration of data from Tally to ERP and support for Go-Live
•Sent on secondment to Moore Stephens - UK-based Audit firm for conduct of external audit and compliance with IFRS requirements.
•Preparation of investor presentations, budgets and start-up plans for new start-up’s
Major Clients:
•Kunooz Oman Holdings, Muscat
•Alizz Islamic Bank, Muscat
•Alkhonji Group, Muscat
• Being part of BFSI business vertical, was involved in multiple engagements involving review of current banking and financial operations, process improvements and SOP design/review of leading banks in Muscat.
• Handled clients in GCC - process documentation of a leading Islamic bank in Muscat, Oman \[entire banking operations\] - my personal area of design and review pertained to Treasury operations, Branch operations and Trade Finance.
• Comprehensive Banking review of core banking operations of another leading Conventional Bank in Muscat with objective of enhancing internal controls, review of adherence to SOP and adequacy of existing documentation in place.
• Quarterly Peer Review of core banking performances every quarter for all major banks in UAE & Oman - engagement lead in performing core parameters and reporting to stakeholders on quarterly basis including investor presentation for leading bank in Muscat.
Internal Audit & Consultancy
Job Description:
•Devising audit plans, scope of audit, dump analysis and sample mapping
•Have additional external audit/statutory audit experience as well
•Support team in drafting Final Reports, discussion with process owners on a daily basis
•Designing SOP’s (Standard Operating Procedures)
•Handling 4-6 member team in audit, preparation of draft findings and discussion of final report with Key Management People
•Checking adequacy of system controls, preparation of elaborative system related audit checklist
Job Description:
• Devising internal audit plans, scope of audit, dump analysis and sampling criteria as per scope of review and deep understanding and analysis of process design relevant to the particular client business
• Drafting final reports, summary of observations and close-looping open issues
• Performed core reviews on banking operations including BRS, Forex, overall Procurement process including Vendor Management and payments, AP &A R processes in detail.
• Handling 4-6 member team in audit, preparation of draft findings and discussion of final report with Key Management People
• Identification of different type of risks, checking adequacy of system controls, preparation of elaborative specific process related audit checklist
• Industry: Manufacturing / BPO & ITES / Construction / Automotive / Services / Trading / BFSI / Healthcare / Pulp & Paper / Publishing
• Understanding the Organization structure, client’s business, understanding the dynamics of industry and identifying process gaps
• Providing mitigating controls, recommendations and process improvements
• Support team in drafting Final Reports, discussion with process owners on a daily basis
• Designing SOP’s (Standard Operating Procedures)
• Demonstrating PwC’s compliance tool, devising Checklist for compliance requirements
• Performing data analytics, sample testing
Job Description:
• Understanding the Organization structure, clients business, understanding the current business process and procedures in place by walk-through and thorough understanding of the SOPs and existing process documents
• Drafting the testing procedures, sampling criteria and identification of samples on business rationale, and performing data analytics, sample testing based on scope of review
• Performed audits with core emphasis on Procurement process including Account Payables, reconciliations, and overall vendor management.
• Brief introduction into SOX Reporting at a beginner level providing basic idea and conceptuality
• Support team in drafting Final Reports, discussion with process owners daily to finalize the observations.
• Preparation and maintenance of working papers for review by the Reporting Manager/Partner and Internal Auditor of the client in certain cases
• Industry: Manufacturing / Chemical / BPO / Trading / Services / Trading / BFSI / Steel / Automotive
First Class