Manager Financial Accounting and Cash Management
OQ Salalah Cluster (Restructured to include 3 Companies OQ LPG, OQ Methanol and OQ Ammonia),
Total years of experience :29 years, 3 Months
Lead the Financial Accounting & Cash Management team to ensure end-to-end activities of financial accounting and cash management for OQ Salalah Cluster Operations.
The company is in project/ construction phase. Commercial operations are planned to be started in July 2020. My responsibilities are identical to my job at Salalah methanol, namely project accounting and cost control, setting up the department, accounting operations and reporting, SAP implementation etc. Kindly see below
Responsibilities: (acting as the back-up for the Section Head Financial Accounting responsibilities include but not limited to)
• Contribute by taking initiatives in improving Muntajat’s Financial Accounting processes.
• Contribute toward the formulation of strategy, annual business plan, policies and procedures of Finance Department to support organizational business strategy.
• Ensure continuous compliance with the policies, procedures, prevailing practices and applicable regulations and standards pertaining to Financial Accounting and Consolidation.
• Ensure that all activities performed by the Financial Accounting & Consolidation function (i.e., posting of journal entries, GL and SL reconciliation, preparation of GL reports and Trial Balance, Financial Statement Close Process - FSCP, etc.) are carried out effectively and efficiently.
• Ensure timely and accurate financial reporting and closing for products purchase from Producers.
• Preparation of stand-alone and group financial statements as per IFRS.
• Keep current with latest laws and regulatory requirements related to Financial Accounting.
• Stay abreast of current and changing trends and leading practices in Financial Accounting including IAS & IFRS.
• Manage and ensure the integrity of the Financial Statements and Reports, including its ERP system.
• Manage the development and maintenance of Muntajat’s Chart of Account, cost and profit center structure.
• Checking and endorsement of journal entries, and performing complicated GL and SL reconciliation activities as required
• Review and checking GL reports, Trial balances and other reports from the ERP on periodic and ad-hoc basis to ensure their integrity.
• Assist the Section Head to manage and ensure that all required reports are prepared accurately and submitted on time to relevant regulatory bodies.
• Play an active role in the area of designing / improving effective preventive and detective financial controls and internal compliance processes to ensure financial and receivable activities are conducted in line with the Manual of Authorities (MoA) and International Financial Reporting standards.
• Liaison with External Auditors to carry out yearly Audit.
Responsibilities:
• Provide assistance to the Finance Manager/CFO in financial strategy and planning, reporting and management and development of policies, systems, processes and personnel involved.
• Supervise the accounting operations and internal control systems to ensure that accounting books and records are maintained as per requirements and standards.
• Prepare monthly and quarterly financial statements with focus on reporting of project expenditures, debt and equity financing and fixed assets.
• Provide necessary support and direction for the implementation of new ERP system with focus on Financial Modules.
• Provide necessary decision support to the Project Management Team and to transfer the financial management knowledge to new staff.
• Coordinate various activities with shareholders, banks, contractors, suppliers, auditors and government departments on regular basis.
• Develop and manage the operating and capital expenditure budgets and to advise on support financial services.
Achievements:
• Successfully implemented the ERP SAP financial modules.
FFBL is a listed public company engaged in the business of manufacturing of UREA and DI-AMMONIUM PHOSPHATE (DAP), a US$ 450 million project.
Working as a Section Head. Responsibilities includes
Book-keeping
Material / Inventory Accounting
Preparation of Monthly and Annual Financial Statements
Liaison with External Auditors to carry out yearly Audit
Costing ( Ammonia, Urea, DAP)
Finalization of Monthly Sales Tax Return
Disbursements including payroll
Review of Internal Controls
Preparation and Review of Budget
Comparison of Budget with actual results using Variance Analysis
Implementation of Accounting & Inventory Control Applications software
MIS reporting to Senior Management
ACHIEVEMENTS:
A) Worked as a Team Leader for In-House designing, preparation and successful implementation of following Oracle based Applications Software:
1)Disbursement & Accounting Application
2)Inventory Control Application
3)Sales Tax Receivable Application
B) Prepared Integrated Management System (IMS) procedures / manual of Finance Department for ISO 9001 certification.
State Life Insurance Corporation is Pakistan’s largest life insurance concern with huge network throughout the country.
My duties were typical to those of Internal Audit functions i.e., appraisal, evaluation and monitoring of systems and procedures (specially Accounting) for their proper execution and compliance and for identification of needs of internal controls.
The above tenure also includes my posting at Sialkot Zone as Departmental Head of Internal Audit for the period from March 1995 to Oct 1998.
ACMA .
Oracle Certified Profesional (OCP) in Procurement R11
Masters in Business Administration wih dual specilization of Finance and Management Inforamtion System
Post Graduate Diploma in Computer Programming and System Analysis
Studied qauntitative subjects like Mathematics for Economics, Statistics, Econometrics