Head of Finance & Commercial
Poplon Pakistan (Pvt.) Ltd.
مجموع سنوات الخبرة :20 years, 6 أشهر
The Role:
Strategic Responsibilities:
Advises the CEO and the Board on financial planning, budgeting, cash flows, investment appraisals, feasibilities & due diligence, and policy matters. Represents the Company externally particularly in banking (over short term & long-term loans), leases, trade (L/C’s, Bank contracts), Entrepot, international business partners, etc.; Serves as the principal contact with the external audit firm(s), legal advisors, regulators, Ministries (Finance, Commerce, Trade, Industries & Production, EDB, ) associations & professional bodies;
Core Responsibilities:
Annual budgeting preparation; placement of internal controls, fusing of accounting procedures and protocols; ensuring adherence to the strategic plan; Improvisation of administrative and operational accounting and finance services such as treasury management, payment processing, payroll, payables, receivables, inventories, procurement, assets and depreciation, accruals & pre-payments, write-backs & write-offs, reconciliations, etc.; Ensures ICoFR in place; Ensures the coordination and completeness of annual audit reviews; Oversees, directs, and organizes the work of the accounts, finance, audit and operations teams; Ensures the implementation and compliance of Corporation Income Tax, VAT/Sales Tax, Zakat, etc.
Audit Related Responsibilities:
Plan, organize and manage internal audit function including preparation of audit plan, schedule and assign work and estimate resource, scheduled and unscheduled internal audit and follow up audits; Assess the design and effectiveness of internal controls; Ensuring that staff, department and business units are adhering to the business processes and procedures; Perform risk assessment and compliance audit; Supervise audit procedures; Assist in identifying audit issues and root causes; recommend improved internal controls and business processes; Ensure that corrective action plans are developed and implemented. Identify loopholes, gaps, areas of lack of control and recommend risk aversion measures, cost savings and added value; and ensure that corrective action plans are developed and implemented; Reporting to audit committee and presentation to board for onward approvals of the systematic implementation.
KEY ACCOMPLISHMENTS
1 Significant reduction in costs (more than one million USD per year) by effective negotiation and controlling;
2 Passionately redefined the internal control system to retrench the loose corners. Probably, this had proven to be the most efficacious tool, amongst the others, to save precious resources of the Company;
3 Achieved a surge of $5M in revenue and the bottom lines of the company by winning the cases of Anti-dumping duties at National Tariff Commission - Pakistan, Valuation Ruling at Directorate of Customs Valuation - Pakistan and Regulatory Duty at Ministry of Industries and Production & Ministry of Commerce - Pakistan.
4 Vindictively defended my Company against 13 undue compliance notices issued and demands by the income tax and sales departments and thus saved valuable liquid assets (approx. 2 million USD) of the Company;
5 Candidly managed the upgradation of the accounting software (from local one to Vision Plus ERP) for better reporting and analysis. This had made us to imbibe the efficiency in accounting and reporting with 12 persons’ team;
6 Managed the filing of Company & all Directors’ personal income tax returns single-handedly and errorfree.
The Group:
The group is a conglomerate having two main ventures in the field of engineering, and information technology. (Group Companies: Netracon Technologies (Pvt. Ltd., Netrasoft (Pvt.) Ltd., & Netratel pte)
The Role:
Devised and executed strategic plans to oversee financial affairs and examine company’s performance against annual budget (CAPEX, OPEX) while working as Strategic Business Partner. Executed key decision related to operating models, strategic initiatives, and operational execution while working as a key member of executive leadership team.
Oversees the project finance and liaises with banks, and financial institutions for arrangement of funds, advance payment guarantees (APG) and performance bonds (PG/PB). Actively liaised with business partners, regulators, ministries on a regular basis.
Audit Related Responsibilities:
Implemented the internal audit policies and procedures following the professional auditing standards and leading practices; Followed all the internal policies of the organization; Contributed to the continuous improvement of internal audit practices, productivity and coverage and identifies opportunities for the use of computer assisted audit techniques (CAAT);
Prepared the Risk-Based annual audit plan following the IA policies and procedures, drafted the annual budget, Led the Internal Audit team activities; Ensured that audit procedures are effectively designed, executed and documented; Made sure that all the audit work is performed and documented in line with IA regulations; Decided on the adequacy, effectiveness and efficiency of audited controls; Made sure that the audit findings and recommendations are punctual and appropriately communicated and agreed upon with the auditee; Prepared reports on the results of audit engagements, significant risk exposures and control issues; Monitored progress towards the achievement of the annual audit plan; Ensured that IA working papers, reports, memos and presentations are efficiently retained and organized; Ensured timely submission of reports to Audit committee.
KEY ACCOMPLISHMENTS
1. Saved atleast PKR 300 million, of the Company, through effective supervision of the site financial activity comparing with the project progress;
2. Guaranteed maintenance of all accounting systems and functions through SAP B-One (8.8.2 & 9.0 versions) by leading a high-performing finance and accounting department (34 people) for scattered engineering sites;
3. Parsimoniously managed the conduct of 3 annual audits by the Income Tax Department (under section 177 & 161 of the Income Tax Ordinance, 2001), and Sales Tax Department (under section 38 & 25 of the Sales Tax Act, 1990);
4. Hands-on experience of filing of hundreds of quarterly tax returns & statements at FBR & PRA, quarterly and annual tax returns at Afghanistan & Tajikistan, and filing of annual returns with SECP Pakistan;
5. Successfully managed the payroll of 1800 people, a fleet of 200 vehicle and machinery alongwith fuel & maintenance.
6. Exposure of working with USAID, Asian Development Bank (ADB), Japan International Cooperation Agency (JICA), Sunir Iran, RPGCC/KEC India, Da Afghanistan Breshna Sherkat (DABS) Afghanistan, Siemens, ABB, Hyundai;
7. Rendered as acting head of operations at Afghanistan and managed the transmission line (127 KM long) and 132 kVA grid stations project handling worth 22 Million USD and supplies project of 11 Million USD for DABS.
The Group:
The group is a conglomerate having various ventures in the field of engineering works (civil and mechanical), and Experiential marketing, for the last three decades. (Group Companies: Badar Engineering, Badar Expo, Badar Marketing Solutions, Badar Events)
The Role:
Overall responsible for accounts, finance and operations (North) but not limited to the followings:
Improvised the timely preparation of monthly, quarterly, bi-annually and annually accounts including management reports using Pinnacle ERP Solution;
Performed budgeting and forecasting for the projects, departments and the corporate as a whole;
Controlled budgets and presented variance analyses both project-wise and region-wise;
Improvised the contracts, agreements and other legal documents for dealings with clients, subcontractors, and vendors;
Ensured all necessary audits are performed prior to dealing with vendors, sub-contractors;
Ensured that all legal and commercial paper work is completed relating to vendors, sub-contractors;
Project wise costings and reporting, strategic planning, improvising the fund flows, and approvals;
Developed and analysed information to assess the current and future financial status of firms;
Established procedures for custody and control of assets, records, loan collateral, and securities in order to ensure safekeeping.
Formulated and enforced policies and procedures, strengthening reporting system and communication, adherence to the applicable laws, internal and external audits their reporting, improvisation of taxation, handling of corporate & legal affairs and human resource, etc.
Key Accomplishments:
As Head of Operations, I got the honour to supervise the mega events including International Defense Exhibition and Seminars (IDEAS) Karachi, Inter-School Elementary Schools Science Exhibition powered by Intel Corporation.
As Head of Accounts and Finance:
I was succeeded to reduce the reporting cycle from one month to 7 days of the reporting period; and
I was able to save precious PKR 5 million approx. through effective negotiations, and controlling.
Operations in J&S Group (Lahore based)
Company Profile:
J&S is the market leader of Experiential Marketing, Public Relation and Advertising firm of Pakistan and renowned for inimitable creativity, impeccable service standards and unsurpassed work ethics. In a decade of its age, J&S has built a proud repertoire of clients and events portfolio and managed events also in Thailand, India and Dubai. (Group Companies: J&S, Zaffron, Dish, Racing Pakistan)
The brief of my job responsibilities are stated hereunder:
•Overall responsibility for fiscal and corporate affairs including operations, legal, administrative, and human resource;
•Oversee the approval and processing of revenue, expenditure, and control documents, formulation of policies and procedures, department budgets and its controlling, reporting system, payroll function, comprehensive analysis of cash flows, devising financial strategies, analysis of financial initiations, devising and maintaining internal controls, adherence to the applicable laws, strategic planning, books of accounts, communication, audit (both internal and external), etc..
•Supervision of the process of preparation of financial statements, financial reports, special analyses, and information reports using the “Simply Accounting” Software;
•Optimize the handling of funds including cash & banks and inventory and initiate appropriate strategies to enhance cash, bank and inventory positioning;
•Improvise the client relationship accounting and vendors portfolio; and
•Other duties as assigned by the apex management
Key Accomplishments:
Succeeded in implementing ERP and synchronized store houses to retrench loose corners.
Successfully supervised the launch of a Continental Restaurant;
Successfully reduced the month closing cycle from 30 days to 10 days.
Reducing reporting period of event from 10 days to 2 days without any hitch.
Efficiently handled the operational finance of mega events (corporate and Individual) of Pakistan.
Effectively ensured the compliance with laws.
Skillfully managed the filing of income tax and VAT returns.
Matrix Sourcing Group is internationally renowned one having its offices in the World’s Business Hubs i.e. Dubai and United States of America (USA). The Group is mainly involved in four major businesses i.e. Knitted and Woven Garments and related Materials, Soccer Ball, Apparel Testing Laboratory and Furniture Business. Our business associates for knitted and woven garments are Nike, Reebok, Addidas, Philips Van Huesen, Blue Marlin, Canterbury, etc.., for soccer ball, Nike, for textile related material, Scovell, etc. For apparel testing lab and furniture, these are numerous in Pakistan and Dubai respectively. (Group Companies: Matrix Sourcing, Cotton Tree, Apparel Testing Lab)
My sphere of responsibilities encompasses the following:
•Overall supervision and monitoring of accounts and finance departments in all businesses; including, timely preparation of monthly, annual or periodical accounts including management reports using Sage ACCPAC ERP, enterprise wide funds flow management and cash flow planning, business planning, & forecasts, work-order wise/job order wise costing, cost controlling, preparation of master and departmental budgets, and its monitoring, feasibilities, supervision of stock checks and assets physical verification, correspondence with various international buyers and factories regarding commercial billings (receivables and payables), claims/settlements, logistics, etc., correspondence with taxation and corporate authorities, ensuring timely filing of statutory returns and statements including Income& Sales Tax returns, and liaison and coordination with Internal and External Auditors.
Key Accomplishments:
Succeeded in devising and controlling budget.
Skillfully audited the inventory and material consumptions to retrench the loose ends.
Successfully reduced the month closing cycle from 30 days to 15 days.
Proudly associated with Nike Football business evaluation team.
4 years experience of practical (Audit Department) training from Crowe Horwath Hussain Chaudhury & Co., Chartered Accountants, a member firm of Crowe Horwath International, one of the largest network of independent accounting firms with 400 offices worldwide.
Financial Auditing
This experience includes planning, executing and finalizing statutory/non-statutory financial/non-financial audits of numerous public listed and unlisted, private companies and other organizations; review of audit assignments; analyses and evaluation of financial statements; budgeting and variance analysis activities from reporting and analysis viewpoints; client screening and personnel management; client liaison and co-ordination with partners and client during finalization of assignments. The experience was obtained from audits and other assignments of the following:
•Textile (Spinning, Weaving, Knitting, composite and woolen), Engineering and Construction, Energy, Chemical, Cement, Agriculture and pesticides, Pharmaceuticals and hospitals, Architectural, Paper, Auto mobile, Chamber of Commerce, Trading Companies, Travelling and Entertainment Companies, Educational Institutes, Clubs and Societies, Funds, Trusts and Associations not for profit.
Internal Auditing
Internal auditing, of one of the leading pesticide Companies.
Special assignments
Banking assignments (mark-up calculation, loan evaluation, loan restructuring including finalization of payment schedules and preparation of cases for presentations to banking panel);
Investigative audit of engineering and construction and Guarantee Limited Company;
Preparation of fixed assets register; and
Preparation of the financial system manual and corporate compliance checklists.
Subjects covered were Business Strategy, Financial Accounting & Reporting, Business Planning - Taxation, Financial Management, Accounting, Assurance, Business & Finance, Law, Management Information, Principles of Taxation, Audit and Assurance and Tax Compliance.
Subjects covered were Advanced Financial Accounting and Corporate Reporting, Advanced Auditing, Advanced Taxation, Advanced Performance Management, Company Law, Corporate Governance, Business & Financial Strategy, IT Audit & Control, Forensic Audit and Forensic Accounting, Internal Audit Role in Risk and Control.
Subjects covered were Financial Accounting, Auditing, Taxation, Company Law, Cost Accounting, Information Technology.
Subjects covered were Advanced Financial Accounting & Reporting, Advanced Auditing, Advanced Taxation, Corporate Laws and Secretarial Practices, Advanced Cost & Management Accounting.
In B. Com. Part One, i got 69% marks with 3 A's, 3 B's and 1 C in the subjects
